News Radio | The News Watch Never Stops

Facebook shares to start trading shortly

tamara — Fri, 18 May 2012 12:48:55 +0000

Facebook shares will shortly start trading in one of the largest and most high-profile share flotations of recent years. Founder Mark Zuckerberg is set to ring the opening bell that signals the start of daily share dealing in New York. Strong demand has led Facebook to increase both the price and the number of shares available for sale. The shares will go on sale at $38 each, valuing the eight-year-old social network site at $104bn. Trading will start at 0930 local time on the Nasdaq index, which is also where technology giants Google and Apple are traded. This valuation means the social network site is worth about the same as internet shopping giant Amazon, and more than the value of stalwarts such as Disney. The initial public offering of the shares is the third-largest in US history, after the financial giant Visa and General Motors.

UNP says Fonseka is being released due to pressure exerted internationally and locally; government ridicules the claim

tamara — Fri, 18 May 2012 12:48:09 +0000

The United National Party says Former Army Commander Sarath Fonseka is being released due to pressure exerted by both the international and local community. Speaking to media subsequent to visiting Fonseka, who is receiving treatment at a private hospital in Colombo, UNP MP Palitha Range Bandara said even if Fonseka is released, he would have to continue receiving in-house treatment.

NewsRadio contacted Minister Tissa Karalliyadda for his response to this allegation.

Minister Vasudeva Nanayakkara also commented.

The Former army Commander was granted conditional bail by the Colombo High Court this afternoon. A bail application was filed on behalf of Fonseka in a case in which he is accused of harbouring 10 army deserters and conspiring against the State. Colombo Chief High Court Judge Sunil Rajapakse issued the order subsequent to taking up the application which was filed by Sarath Fonseka’s counsel, Saliya Peris. He ordered Fonseka be released on a one million rupee cash bail and 2 surety bails of 2.5 million rupees each. The court however prohibited the former army commander from leaving the country, and ordered him to seek permission from court if he needed to do so. Meanwhile speaking exclusively to Newsradio wife of the former Army Commander Anoma Fonseka expressed her views. Here’s an excerpt of her conversation with one of Newsradio’s Correspondents.

The United National Party commended Former Army Commander Sarath Fonseka being granted bail by the Colombo High Court. Speaking to media at the Hultsdorff court complex UNP MP Karu Jayasuriya Karu Jayasuriya expressed these views.

UNP MP Dayasiri Jayasekera also addressed those gathered subsequent to the court proceedings.

NewsRadio contacted member of the Sri Lanka Human Rights Commission Prof. Prathiba Mahanama regarding the possible paths for the release of the former army commander. Prof. Mahanama said only the President possesses the power to release him and he can determine the nature of the pardon as well.

Minister Peries meets US national security and trade officials discusses US-Sri Lankan ties

tamara — Fri, 18 May 2012 12:28:50 +0000

Minister of External Affairs, Professor GL Peries has met top U.S. national security and trade officials yesterday to build the long-standing U.S.-Sri Lankan ties. Minister Peries emphasized on how economic development has helped sustain peace and build prosperity after the defeat of terrorism. During his meeting with several dignitaries Peiris gave the National Security Council a comprehensive update on post-conflict developments in Sri Lanka, progress on reconciliation and the work of Sri Lanka’s Lessons Learnt and Reconciliation Commission, including the government’s effort to adopt the commission’s recommendations. In addition, Minister G.L. Peiris also met the Deputy United States Trade Representative, Ambassador Demetrios Marantis, and engaged in extensive discussions on trade and economy. He also pressed the Ambassador for early closure of a review of the GSP for trade that exists between the U.S. and Sri Lanka. He highlighted Sri Lanka’s steady economic growth in recent years amid a global slowdown, with an 8.3% GDP in 2011. Minister Peiris also noted that growing prosperity in Sri Lanka will create enormous opportunities for U.S. investors, and he expressed his appreciation to U.S. private sector for placing confidence in Sri Lanka by committing a number of large scale investments, especially in the fast-growing tourism and financial sectors.

Special Traffic plan in lieu of Victory Parade

umanga — Fri, 18 May 2012 10:36:50 +0000

Galle road will be closed from Bagatale Road to the Galleface Roundabout from 5am tomorrow due to the Victory Day Parade scheduled to be held tomorrow. The closure will be in effect until the conclusion of the event. The Police Headquarters has provided a list of alternate routes in view of the Victory Parade that will be held tomorrow.

Buses and light weight vehicles leaving Colombo towards Galle Road from Fort and Pettah can use several alternate routes. Vehicles are requested to turn right from Technical Junction via Sinor Junction and Gunasinghapura Junction and travel down to the Maradana town, Gamini Junction, Darley Road, Ibbanwela Junction and Lipton Circus. From the Dharmapala Mawatha vehicles should turn left and travel down F. R. Senanayake Mawatha and turn right to C.W.W. Kannangara Mawatha and travel down through Horton Junction, Nanda Motors Junction, Reid Avenue, Thummulla Junction and Bullers Road. Vehicles can enter Galle Road by turning left from Bullers road towards Dickmans road.

Buses and light weight vehicles travelling from Galle Road to Pettah are to turn right from the Colpetty Bagatelle Road Junction and travel down Duplication Road towards Thummulla Junction, Thurstan Road and J.O.C. Junction. From Cambridge place vehicles are to turn right towards Alfred Crescent, and travel down Nanda Motors Junction, Horton Junction, C.W.W. Kannangara Mawatha, Soysa Junction, Deans Road, Seaman’s Junction and Maradana Road. Vehicles can enter Pettah by turning left from the technical Junction and travelling down Olcott Mawatha.

The Police Headquarters has also released alternate routes for heavy vehicles. All heavy vehicles entering and exiting Galle Road will be allowed to travel only up to Wellawatte along the Galle road, turn left to W.A. Silva Mawatha proceed down Havelock Road, Park Road and Baseline Road.

The Police Headquarters has issued a list of roads where parking will be prohibited. Vehicles will be prohibited from parking from 5.00am till the conclusion of the Victory Day celebration along the Galle Road from Bambalapitiya to Galleface, Dharmapala Mawatha, R.A. de Mel Mawatha, Maradana Road, Deans Road, TB Jayah Mawatha and Olcott Mawatha. It will be prohibited to park vehicles down York Street, Sir Baron Jayathileke Mawatha, Malay Street, Kumaran Ratnam Road, Flower Road, Sir James Peiris Mawatha, Justice Akbar Mawatha and Union Place.

UNP commends Fonseka being granted bail

keshini — Fri, 18 May 2012 08:32:31 +0000

The United National Party has expressed its pleasure on bail being granted to Former Army Commander Sarath Fonseka by the Colombo High Court. Speaking to media subsequent to Fonseka being granted bail UNP MP Karu Jayasuriya Karu Jayasuriya expressed these views.

UNP MP Dayasiri Jayasekera also commented.

Facebook to go public in massive IPO

keshini — Fri, 18 May 2012 08:27:46 +0000

The Social networking site, Facebook aims to raise as much as $16bn, despite critics’ claims that the company is overvalued.

Police launch investigation into attack on custodian of Vadihiti Kanda Viharaya

keshini — Fri, 18 May 2012 08:17:25 +0000

The Kataragama Police has launched investigations into the incident where a monk had assaulted the custodian of the Kataragama Vadihity Kanda Ven. Kamburupitiye Wimalasara Thera and his driver. The two victims are currently receiving treatment at the Kataragama Base hospital. Speaking exclusively to Newsradio Ven. Kamburupitiye Wimalasara Thera expressed explained the incident.

Railway operations on the main railway track restored

keshini — Fri, 18 May 2012 08:01:29 +0000

Railway operations on the main railway track have been restored. A train transporting fuel had collided with a train stationed adjacent to the Weyangoda-Kinnawala Railway station at 7.50 last night. Two carriages of the train transporting fuel had subsequently derailed and only one of the tracks had been active thus far. Director of Railway Planning Wijaya Samarasinghe told Newsradio that operations have commenced as per usual. A committee has been appointed to investigate the incident had 4 persons including the operator of the train transporting fuel have been suspended in this regard.

Shah Rukh Khan banned from Wankhede

keshini — Fri, 18 May 2012 07:57:49 +0000

The Mumbai Cricket Association has banned Shah Rukh Khan, the Kolkata Knight Riders owner, from entering Wankhede Stadium for five years. The move follows his scuffle with security guards after the match between Knight Riders and Mumbai Indians on the 16th of May. Vilasrao Deshmukh, the MCA president made the announcement however IPL chairman Rajiv Shukla said the ban was not final until the BCCI had its say on the matter. The MCA alleged the actor who was under the influence of alcohol had arrived at the stadium after the match and abused and manhandled staff. Meanwhile, Shah Rukh Khan admits he used abusive language, however says he was provoked by stadium authorities “manhandling” his children and their friends who had gone to see the match. Khan also vehemently denied that he was under the influence of alcohol.

UNP accuses the govt. of issuing circulars which cannot be implemented realistically

keshini — Fri, 18 May 2012 07:52:13 +0000

United National Party MP Akila Viraj Kariyawasam accuses the government of issuing circulars with regard to education that cannot be implemented realistically. The parliamentarian made this statement at a media breifing held today regarding a circular issued by the government on students transferring from one National school to another