Lanka News – Lanka Gazette – Sri Lanka News Portal

The Democratic National Alliance (DNA) plans to inform the Commonwealth Parliamentary Union (CPU) Secretary General about the government’s attempts to prevent General Sarath Fonseka from attending the CPU conference to be held in Kenya. Continue Reading

On the positive side, there is stable government and a certain heady stirring of hope among a previously traumatized people, exactly one year after the now well known events by the Nandi Kadal lagoon on May 18, 2009.
The Rajapaksa administration promises unprecedented economic resurgence, and if that can be delivered in the same way that the Rajapaksas delivered on the war, it would be truly unprecedented.
But yet, there is no palpable merit in dwelling on what might happen in the future. The goods are for the government to deliver, and we shall await. Continue Reading

Defending champs Kandy SC were given a stern examination of their credentials before they managed to hold on for a hard-fought 14-6 win against a dour Air Force SC team in their Caltex inter-club league rugby match ended at Ratmalana yesterday evening.
In a game which was fought to the tooth and nail KSC just had sufficient fuel in their tank to see off the home team with both sides doing all their scoring in the first 40 minutes before a barren second-half. Continue Reading

The new BoI Chairman Jayampathi Bandaranaike said during the next five years, his economic agency will focus mainly on six areas, which are manufacturing of non- traditional and high value-added sector, manufacture of apparel fabrics and accessories, tourism and leisure, information technology and IT enabled services, agriculture, agri- processing, deep sea fishing, dairy and livestock and the infrastructure.
Although the BoI is focused on major development activities, it is said that Minister of Economy Development Basil Rajapaksa has nearly 40 institutions under his purview. But the new Chairman sees it as a greater opportunity for synergies and better interaction between economic agencies, when all are placed under one ministry”. Continue Reading

Shell Gas is said to be reviewing its portfolio of Liquefied Petroleum Gas (LPG) business at present. A Shell Gas Lanka Ltd spokesman on May 6 announced that the company is going through a “review of ownership options”.
Under this review, the company would allow third parties to be involved in the LPG business. According to Bloomberg, more than six private equity firms are bidding for Shell PLC’s LPG assets. Companies such as Advent International PLC and PAI Partners are also among those interested in bidding. Continue Reading

The World Bank has approved support totaling US$ 108 million to Sri Lanka for three development projects in local infrastructure, higher education and tourism.
Out of the total US$50 million was for the North East Local Service Improvement Project while another US$40 million has been allocated for the Higher Education for the Twenty-First Century Project. The remaining US$18 million was reserved for the Sustainable Tourism Project. Continue Reading

Galleon Group founder Raj Rajaratnam again urged a federal judge on Thursday to exclude new allegations by prosecutors of improper trading involving more than 20 companies not previously disclosed in his criminal insider-trading case.
In a court filing Thursday, John Dowd, a lawyer for Rajaratnam, said the first conspiracy count against him, if the newly disclosed stocks remain in the case, “now comprises a diverse group of wholly distinct alleged conspiracies that were not mentioned at all in the superseding indictment.” Continue Reading

The week at the CSE saw much volatility as investors took profits and drove the indices down on the first two days of the week. The week saw the ASI index of all companies close down to a weekly low of 4,215 on Tuesday, but recovered and closed on Friday at 4,25. The net gain for the week for the broader market index was 29 points or 0.7 %. The more sensitive Milanka Price Index closed the week 36 points or 0.8% higher, after recovering from the Wednesday’s low of 4,742. The choppy ride was also partly due to unresolved crisis in the European region which also saw commodity prices fall in international markets. Continue Reading

Rohan Somawansa, General Manager (Marketing) at the DSI Samson Group was recently inducted as the new President of the Sri Lanka Institute of Marketing for 2010/2011.
With twenty years of marketing and sales experience, Somawansa has held several senior management positions during his career. He qualified from the Chartered Institute of Marketing with a Post Graduate Diploma, and from the Asia Marketing Federation with the Certified Professional Marketer Status. He also has DBFA from the Institute of Chartered Accountants (Sri Lanka). Continue Reading

• ‘Kidnapped by a third party’
• Police comb East

An organized group abducted journalist of Lanka e News website, Pradeep Eknaligoda on a contract given by certain individuals, a senior police official said referring to primary police investigations.
The Colombo Crime Investigation Division has begun operations to arrest the suspects responsible for the disappearance of journalist Eknaligoda. Continue Reading