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Sri Lanka stocks down 0.16 pct
Aug 13, 2012 (LBO) – Sri Lanka stocks closed down 0.16 percent Monday with market trading lacking momentum, brokers said. Nation Lanka, Taj Lanka, PCH Holdings, HNB Assurance and Browns Inv were among the top gainers today. PCH Holdings were up 9.9 percent to close at 11.10 rupees, Browns Investments up 7.4 percent to close […]
Financial Access
Aug 13, 2012 (LBO) – Sri Lanka’s efforts to establish banking services in the former war-torn areas included ‘laundering’ soiled money held by displaced persons, Central Bank governor Ajith Nivard Cabral told an international Defence conference in Colombo. “Banks at that time were set up in containers which were at various locations so that people […]
Credit Trend
Aug 13, 2012 (LBO) – Loans from Sri Lanka’s banking system fell to 13. 5 billion rupees in June 2012, from 41.8 billion a month earlier with state credit no longer pressuring the banking system, while private citizens’ credit remained positive, official data showed. Total loans from commercial banks to private borrowers rose 19.0 billion […]
Sri Lanka: What strategies are appropriate for us?
Aug 13, 2012 (LBO) – My book was launched August 6th. My task was to thank people. This was important because the preface of this rushed-to-print book was written solely by my co-author so this was my only opportunity. I began by saying that no creative work was ever done by one person alone. The […]
’s debt-ridden power utility seeks more loans
August 12, 2012 (LBO) – Sri Lanka’s power minister has sought cabinet approval to raise state-run Ceylon Electricity Board’s borrowing limit to 74.2 billion rupees to meet increasing fuel needs, settle debts and pay independent power producers, a report said. Minister Champika Ranawaka told his cabinet colleagues that the state power utility owed 16 billion […]
Preserved Documents
Aug 11, 2012 (LBO) – Sri Lanka has begun archiving legal documents of its international commitments, the island’s foreign office said. Minister of External Affairs, G. L. Peiris has made a token handover of 171 legal documents kept by the ministry’s legal office, the satatement further said. The ministry said originals of all bilateral and […]
Sri Lanka stocks close flat
Aug 10, 2012 (LBO) – Sri Lanka stocks closed flat Friday with the All Share Price Index gaining 2.34 points to close at 4,854.22 marginally up 0.05 percent. The Milanka index of more liquid stocks closed up 0.38 percent at 4,370.88. The S&P index of large cap stocks lost 5.08 points to close at2734.21 down […]
Toll Tale
Aug 10, 2012 (LBO) – Sri Lanka could use private financing to fund growing infrastructure requirements like toll roads in future given the inability of governments to meet all such funding needs, a Fitch Ratings official said. Attractive infrastructure investment opportunities in Sri Lanka could draw local and foreign capital which could help underpin future […]
‘s war- torn north records highest economic growth: CB
Aug 10, 2012 (LBO) – Sri Lanka’s northern province which had been badly hit by three decades of war had the highest rate of economic growth in 2011 as a post-war revival continued, the central bank said. The North Western and Southern provinces benefiting from construction, trade, manufacturing, transport, and financial services recorded the next […]
Sri Lanka allows transfers from NRFC accounts
Aug 09, 2012 (LBO) – Sri Lanka’s Central bank has relaxed exchange control regulations to allow the free transfer of funds from non-resident foreign currency (NRFC) accounts, the bank releasing a statement said. The bank said funds can be freely transferred between and among NRFC accounts including foreign currency investments abroad. “Necessary direction to authorized […]