Feb 29 (LBO) Stock closed up 0.49 percent Wednesday, with turnover boosted by the change of control of motor dealers, though market participants are still getting used to a new trading system, brokers said. The Colombo All Share Index rose 0.49 percent to 5,458.09 points up 26.42 points while the Milanka Index of more liquid stocks rose 0.54 percent to 4,744.84 points. Turnover rose to 1.6 billion rupees with a Sri Lanka's Access Engineering buying a 60 percent stake in Sathosa Motors more..

Feb 29 (DM) The police arrested two men who were printing letters by placing official stamps used by the Military and sending letters to residents of Vavuniya who are now living abroad, stating that they should come to military camps for further questioning. The police said the letters had been used by those abroad to seek asylum in those countries. They also said that the suspects had sent letters saying people are being harassed by the military inside the camps and more..

Feb 29 (DM) The UNP has started a dialogue with the JVP on an unofficial level to form a common platform against the govt, MP Mangala Samaraweera said today. He told journalists that he has had talks with the JVP on an unofficial level to get their support for the ‘Vipaksaye Virodaya’ a joint opposition front against the govt. He explained that this common front is not an electoral alliance but just a common approach against the corruption, more..

Feb 29 (SM) Around 40 students of Royal College, Colombo have been detained by police for storming two leading girls’ schools at Kollupitiya and Cinnamon Garden areas and behaving in an unruly manner. These students have been touring the streets of Colombo during their big match season. They are presently being kept at Kollupitiya and Cinnamon Gardens police stations. The students will be handed over to their parents later in the day,

Feb 29 (SM) In this second segment on various irregularities being reported from the Pinnawala elephant orphanage, ‘Srilankamirror’ focuses on the fate of elephants donated to religious places such as temples and devales and given to private owners. One elephant, named ‘Sinharaja’ died when lightning struck him as he was being tethered by a chain that had been touching a railway track in Giriulla. The jumbo was donated to Polwatte Temple in Kollupitiya, more..

Feb 29 (AA) Prime Minister Amama Mbabazi has called for increased trade between Uganda and Sri Lanka as a means of strengthening political ties between the two countries. Mbabazi made the call while meeting the visiting Sri Lankan Minister of External Affairs, Prof. Gamini Lakshman Peiris in Kampala on Tuesday. The delegation had the Sri Lankan Ambassador to Uganda based in Nairobi, T. Raueenthiran and Velupillai Kananathan, more..

Feb 29 (Reuters) Sri Lanka's rupee ended weaker on Wednesday on importer dollar demand, as traders shrugged off central bank intervention signals and rating agencies warned the sovereign rating may be at risk due to a potential balance-of-payments problem. The rupee closed at 121.80/122.00 to the dollar, against Tuesday's close of 121.40/60, on importer dollar demand in light trade, dealers said. It has fallen 6.6 percent since Feb. 9 after the central bank decided to more..

Feb 29 (SM) ‘The Sunday Leader’ and its editor Fredericka Jansz have been issued with an interim injunction, preventing them from publishing any article defamatory of senior lawyer Nalin Ladduwahetti. Colombo district court judge Dhammika Ganepola issued the order today after considering a complaint filed by Mr. Ladduwahetti. It will remain effective for the duration of a case, in which the senior lawyer has filed action against the newspaper and its editor, more..

Feb 29 (Telegraph) Sri Lanka is the new Caribbean. It is consistently hot all year round, littered with great beach hotels, (virtually) everyone speaks English, and Sri Lankan pop is inspired by calypso. Sri Lankans also share the language of cricket. The West Indies is famous for producing brilliant, uninhibited players and Sri Lanka has earned a reputation for that, too. Many a star batsman has emerged in both places from those impromptu, late-afternoon matches in which lanky more..

Feb 29 (YC) Australia named Michael Clarke for Friday's one-day international against Sri Lanka but chairman of selectors John Inverarity says the skipper will not be risked unless fully fit. Clarke has been struggling with back and hamstring problems and missed Sunday's tri-series game against India. Inverarity told reporters Wednesday that Clarke remained a doubt for the Melbourne Cricket Ground clash that will decide whether Australia face Sri Lanka or more..

Feb 29 (LBO) Standard & Poor's Ratings Services has lowered its outlook on Sri Lanka's 'B+' long-term foreign currency sovereign credit rating to stable from positive because of falling foreign reserves and fiscal problems. The rating agency at the same time downgraded Sri Lanka's long-term local currency rating to 'B+' from 'BB-', while affirming the 'B' short-term local currency rating. Sri Lanka's B+ foreign currency rating has been confirmed. more..

Feb 29 (CT) The Hambantota area, which received step-motherly treatment from previous regimes, is now on the path of progress with mega development projects, Minister of Science and Technology, Tissa Vitarana said. Vitarana made these remarks addressing a meeting at Three Sinha Auditorium at Ambalantota that was held to discuss proposals of diverting Kaluganga to Ruhuna and the launching of the book titled ‘Kaluganga Ruhunata Heraweema.’ The President has directed his more..

Feb 29 (ST) The medical humanitarian organization Medecins Sans Frontieres (MSF) has expressed concern over an interview suggesting that it was present in 2009 in Sri Lanka’s war zone and received surrendering militants to be treated. The interview published earlier this month in India, the Secretary of Defence of Sri Lanka Mr. Gotabaya Rajapaksa is purported to have said that MSF France teams were present in the battle zone during the fightning. more..

Feb 29 (BN) Sri Lankan inflation slowed to a 28- month low as the cost of food and beverages dropped. Consumer prices in the capital, Colombo, increased 2.7 percent from a year earlier after gaining 3.8 percent in January. The median of six estimates in a Bloomberg News survey was for a 4 percent advance. Sri Lanka raised fuel prices this month and allowed its currency to weaken to a record low, more..

Feb 29 (DM) Economic Development Minister Basil Rajapaksa has turned down all the development project proposals submitted at the Amparai District Development Committee meeting by MP M.T. Hassan Ali, the General Secretary of the Sri Lanka Muslim Congress, a constituent party of the ruling UPFA. The Amparai District Development Committee meeting presided over by the Economic Development Minister Basil Rajapaksa was held at the Amparai District Secretariat on Tuesday. more..

Feb 29 (N360) Sri Lanka’s demand for hybrid vehicles during the year 2011, has risen by 1200% compared to the year 2010, despite an upward revision in taxes, says the Ceylon Chamber of Commerce. Accordingly, the country has imported 5927 hybrid vehicles during last year, compared to just 438 vehicles imported in 2010. A study conducted by the Chamber has identified Japan as the leading supplier of hybrid vehicles to the country during 2011, covering almost all categories more..

Feb 29 (DM) A large rally that was to be held today in support of Sarath Fonseka was abruptly cancelled after it was believed that it would interfere with the ongoing discussions between President Rajapaksa and Tiran Alles regarding the release of Fonseka from prison, the Peoples Movement to Free General Sarath Fonseka said today. The movement’s convener Kumara Alagiyawanna said that Fonseka had made a request to cancel the rally and said more..

Feb 29 (GDI) The 28th session of the Board of Directors of the India Sri Lanka Foundation (ISLF) was held in Colombo yesterday. The session was Co-Chaired by the High Commissioner of India in Sri Lanka Ashok K. Kantha and the High Commissioner of Sri Lanka in India Prasad Kariyawasam. Board members of the Foundation, Ambassador M. Rasgotra, Prof. P. V. Indiresan, Sunimal Fernando and Thirukumar Nadesan were also present. more..

Feb 29 (PTI) A group of failed Sri Lankan asylum seekers, mostly Tamils, arrived here today after being deported from the UK, amid concerns about their safety by a top global rights group. A total of 52 people arrived on a chartered flight from the UK. This was the third such flight of deportees from the UK since December last year. The flight departed London despite concerns raised by the New York-based rights watch group Human Rights Watch (HRW),which had called on the UK to suspend the deportation of Tamils and more..

Feb 29 (CT) “During a cordial chat, Rajapaksa was able to persuade Maharajah not to air any more programs on such sensitive topics.” the US Embassy Colombo informed Washington. A leaked “CONFIDENTIAL” US diplomatic cable, dated March 22, 2007, updated the Secretary of State on Sri Lanka’s media suppression situation shows that President Mahinda Rajapaksa managed to influence the owner of the more..