Softlogic Holdings Rs. 1 b debt issue through

Published : 1:03 am  September 5, 2013  |  Category: Front Page  |  Leave a Comment  |  1,310 views  |  

Softlogic Holdings PLC’s (SHL) Rs. 1 billion debenture has been successfully oversubscribed yesterday. The issue comprised five million rated unsecured redeemable three-year debentures at Rs. 100 each with an option to raise an equal amount in the event of an oversubscription of the original amount. SHL is to use the debenture proceeds to refinance short-term debt, which will improve its liquidity profile. Fitch Ratings Lanka assigned the debentures a rating of A-(lka)/Stable.  Read More →


Floral tribute at Mullivaikal: Gross misrepresentation, says Pillay’s Office

Published : 1:01 am  September 5, 2013  |  Category: News  |  36 Comments  |  6,264 views  |  
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UN High Commissioner’s Spokesman says allegation is latest in a pattern of abuse Claims UN Envoy wanted to commemorate all victims of conflict where 30-year war ended Says UN dropped plan after Govt. took exception Says Pillay made her views on LTTE very clear   By Dharisha Bastians The Office of UN High Commissioner for Human Rights Navanethem Pillay broke its silence yesterday over Government claims that she had attempted to a pay floral tribute where LTTE Leader Vellupillai Prabhakaran had been killed, saying the allegations were a ‘gross misrepresentation’. Spokesman for the High Commissioner Rupert Colville told the Daily FT that it was a “gross misrepresentation”... 


Elections alone don’t mean democracy: Karu

Published : 1:00 am  September 5, 2013  |  Category: News  |  Leave a Comment  |  604 views  |  
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UNP MP Karu Jayasuriya yesterday refuted Government claims that the country was highly democratic because 11 elections had been held since 2005, saying even the most brutal dictators in the world often hold polls. “Elections are also held in Robert Mugabe’s Zimbabwe but who in the world calls them fair elections?” Jayasuriya charged. Even now with three provincial elections Jayasuriya said that the Government was abusing state property and media to gain unfair advantages, as reported extensively by polls monitors. “Sri Lanka will soon hold the chairmanship of the Commonwealth. As the incoming head of the Commonwealth, the Government needs to strive to set an example to all the other members... 


Ex-DIG Vaas gets bail

Published : 12:59 am  September 5, 2013  |  Category: News  |  Leave a Comment  |  796 views  |  
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 Will remain in remand custody over two other cases By Lakmal Sooriyagoda Former DIG Vaas Gunawardena was yesterday released on bail by a Colombo Court when he was produced on charges of having threatened to kill CID detectives when he was being questioned over the killing of businessman Mohamed Shayam. However, the former Western Province (North) DIG will remain in remand custody over two other cases filed against him at two other Courts. Appearing on behalf of the former DIG, Defence Counsel Ajith Pathirana denied the allegations levelled against his client and maintained that the CID had brought this case since they were having difficulties to find evidence against him over the alleged... 


Dulles apologises for Mervyn’s proposal to Pillay

Published : 12:57 am  September 5, 2013  |  Category: News  |  Leave a Comment  |  855 views  |  

The Government yesterday apologised to the public “marriage proposal” made by Minister Mervyn Silva to the UN High Commissioner for Human Rights Navi Pillay. Minister Dullas Alahapperuma told a press briefing that it was wrong for such a comment to be made and so he apologised on behalf of the Government. “Pillay’s age is just two years less than that of my mother.  How do you think I will feel if someone makes a marriage proposal to my mother? That is wrong. So I want to express regret on behalf of the entire Cabinet,” Minister Alahapperuma said. He also said that under the UN High Commissioner for Human Rights, the issue of the abuse of women is also addressed.  “This is not an... 


Census on human and property damages due to conflict

Published : 12:57 am  September 5, 2013  |  Category: News  |  Leave a Comment  |  814 views  |  

The Task Force appointed for the implementation of the recommendations of the Lessons Learnt and Reconciliation Commission and headed by the Secretary to the President has prepared a National Action Plan for which Cabinet approval has been granted on 26 July 2012. The responsibility to conduct a census to assess the human and property damages has been assigned to the Ministry of Public Administration and Home Affairs and the Department of Census and Statistics. This census, which has to be completed within six months, is scheduled to be held in October 2013. At this islandwide census, detailed information with regard to deaths, missing persons, injured/disabled persons and damages to property... 


SL expresses concern over Syria

Published : 12:56 am  September 5, 2013  |  Category: News  |  Leave a Comment  |  420 views  |  

The External Affairs Ministry yesterday said Sri Lanka was deeply concerned about the media reports on the alleged use of chemical weapons near Damascus in Syria, which has resulted in a large number of civilian casualties. “It is imperative to ensure an impartial and professional investigation in establishing the veracity of the use of chemical weapons. As a state party to the Chemical Weapons Convention Sri Lanka abhors the production, stockpiling and use of chemical weapons, and has advocated their complete destruction and elimination globally. Sri Lanka will follow the evolving situation,” the Ministry statement said.  Read More →


Deyata Kirula CEO granted bail after three months

Published : 12:56 am  September 5, 2013  |  Category: News  |  Leave a Comment  |  387 views  |  

By Lakmal Sooriyagoda The former CEO of the Deyata Kirula National Exhibition 2013 who was held in remand custody for three months in connection with the Rs. 39 million fraud at the Deyata Kirula exhibition site in Ampara was yesterday released on bail by a Colombo Court. The suspect Kanthi Gunawardana was ordered to be released on a cash bail of Rs. 50,000 and two sureties of Rs. 5 million by Colombo Fort Magistrate Thilina Gamage. While ordering the release of the suspect on bail, the Magistrate observed that he was making this order having considered the educational activities and the mental status of the suspect’s son as exceptional circumstances. Defence Counsel Chula Bandara appearing... 


Britain will attend CHOGM to pressure Sri Lanka on human rights issue

Published : 12:56 am  September 5, 2013  |  Category: News  |  Leave a Comment  |  406 views  |  

London: British Secretary of State for Foreign and Commonwealth Affairs, William Hague has confirmed that he and the British Prime Minister David Cameron will attend the Commonwealth Heads of Government Meeting (CHOGM) in Sri Lanka in November although the UK Government is very concerned about human rights in Sri Lanka including media freedom. Hague said they have decided to attend the CHOGM in Sri Lanka considering the Commonwealth and its future. “The Prime Minister and I have decided to attend the Commonwealth Heads of Government meeting in Sri Lanka. We think that the Commonwealth and its future matter so much that we must do that, no matter what the location,” he told the House of Commons... 


Dutch biz in town

Published : 12:55 am  September 5, 2013  |  Category: Business  |  1 Comment  |  875 views  |  

“Synergies in logistics, agro and financials”: Athauda  Bilateral trade at $ 237 m, investments at $ 437 m  Netherland’s JIMPP Media in the delegation  EDB facilitates B2B and presentations conclude well   Dutch businesses are bullish on Sri Lanka’s emergent prospects. “Sri Lanka’s historic links with The Netherlands have entered a new era. This strong business and investment delegation is the latest sign,” said Ambassador of Sri Lanka to the Netherlands Buddhi Athauda yesterday, in Mt. Lavinia. Ambassador Athauda was addressing the inaugural event of the visiting Netherlands business and trade delegation. The delegation, which is on a week-long tour in Sri Lanka,...