Sri Lanka president takes over media portfolio
January 1, 2009 (AFP) - Sri Lanka President Mahinda Rajapakse on Thursday took the country's influential media ministry under his wing ahead of a key mid-term …
Volatile Pricing
Jan 01, 2009 (LBO) - Shell Gas Lanka, the Sri Lankan unit of the Shell multinational, said a new government tax and its inability to buy locally made liquid …
Barrelling Down
LONDON, December 28, 2008 (AFP) - Oil prices, which hit record highs above 147 dollars a barrel this year before plunging under 33 dollars, risk slumping more …
Petrol Saga
Dec 27, 2008 (LBO) – Sri Lanka's main opposition United National Party (UNP) plans to file a contempt-of-court case against the government for its …
Christmas celebrations reflect on war, hardship
VATICAN CITY, December 25, 2008 (AFP) - War and economic hardship loomed over Christmas celebrations across the world Thursday, with Pope Benedict XVI …
China Plan
BEIJING, December 25, 2008 (AFP) - China has started filling tanks at its largest oil reserve, taking advantage of tumbling world crude prices, state media …
Volatile Price
Dec 24, 2008 (LBO) - The Sri Lanka unit of the Indian Oil Corporation, which slashed petrol prices in response to a Supreme Court order, raised the retail …
Sri Lanka govt says enough fuel stocks available
Dec 19, 2008 (LBO) - Sri Lanka's state-owned Ceylon Petroleum Corporation has enough stocks and it is continuing to supply fuel stations, a minister said, …
Price Cut
Dec 19, 2008 (LBO) – Lanka IOC, a unit of Indian Oil Corporation, is cutting the retail price of petrol to 100 rupees a litre on an order by Sri Lanka's …
Stand Off
Dec 19, 2008 (LBO) – Sri Lanka's cabinet of ministers had not revised oil prices after meeting for a second time, with a court decision to cut prices …
Oil Commission
Dec 16, 2008 (LBO) - Sri Lanka's state-run Ceylon Petroleum Corporation (CPC) was instructed to consider a bigger commission to its dealers, by the island's …
Court Formula
Dec 15, 2008 (LBO) – Sri Lanka's Supreme Court said the island's taxation of petroleum products was irrational and asked the Treasury not to tax petrol …
Sri Lanka diplomats decry encroachment
Dec 14, 2008 (LBO) – Sri Lanka's professional diplomats have slammed a practice by government politicians of appointing friends, relations and cronies to …
Formula Politics
Dec 10, 2008 (LBO) – Sri Lanka's President Mahinda Rajapaksa rejected a price-formula for fuel amidst growing public displeasure at exorbitant pump …
Export Formula
Dec 09, 2008 (LBO) - Sri Lankan industrial exporters say the lack of a transparent price formula especially for diesel has increased their production cost …
Sri Lanka govt opposes no-confidence motion on derivative losses
Dec 08, 2008 (LBO) – Sri Lanka's ruling party has opposed an opposition attempt to move a no-confidence motion on an oil hedging deal saying it related …
Sri Lanka opposition moves no-confidence motion over derivative losses
Dec 08, 2008 (LBO) – Sri Lanka's main opposition has put forward a no-confidence motion against the government Monday on the eve of a budget vote, …
Sri Lanka minister gets opposition post: official
Dec 08, 2008 (LBO) – Sri Lanka's main opposition United National Party has appointed a rebel member who is a government minister as its deputy leader, …
Hedge Management
Dec 06, 2008 (LBO) - The Sri Lanka unit of the Indian Oil Corporation has unwound some oil derivatives it bought earlier in 2008, but is left with 70,000 …
Oil Tumble
NEW YORK, December 4, 2008 (AFP) - Oil prices tumbled to their weakest levels in nearly four years Thursday as investors fixated on mounting signs of recession …