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” compliance has advantages
Mar 31, 2012 (LBO) – Sri Lankan exporters will have to ensure the ‘greenness’ of their products to comply with environmental rules of importers to ensure future market access, an official said. There is a major shift in environmental and sustainable policies worldwide, said Edward Clarence-Smith of the United Nations Industrial Development Organisation Sri Lankan […]
” for Indian investment
Mar 30, 2012 (LBO) – Indian companies are keen to invest in Sri Lanka with the island’s Expo 2012 international trade drawing a large group of Indian businessmen, the High Commission of India said. The commitments were made during talks between a visiting team from the Confederation of Indian Industry and Sri Lankan commerce and […]
Sri Lanka inflation jumps to 5.5-pct in March
Mar 30, 2012 (LBO) – Inflation in Sri Lanka’s capital Colombo accelerated to 5.5 percent in the 12 months to March 2012 up from 2.7 percent in February with the index growing 2. 2 percent in the month, statistics office data showed. Food prices remained stable with the foods index growing just 0. 1 percent […]
Sri Lanka on track to get IMF tranche next week
Mar 30, 2012 (LBO) – Sri Lanka is on track to resume a loan program with the International Monetary Fund next week, with preliminary data showing that action taken to break credit and domestic demand are showing results. The IMF held back the final two tranches of around 800 million dollars from its 2. 5 […]
Sri Lanka rupee strengthens as credit weakens
Mar 29, 2012 (LBO) – Sri Lanka’s rupee closed at 127. 75/85 against the US dollar after opening at 129.30/40 dealers said, with data indicating that a credit bubble which put pressure on the peg is breaking. Rupee liquidity from dollar purchases has risen from 6.7 billion rupees on March 14 to 26 billion rupees […]
Sri Lanka rupee gains after opening
Mar 29, 2012 (LBO) – Sri Lanka’s rupee gained against the greenback Thursday to strengthening to as much as 128. 25/50 rupees after opening at 129. 30/40 levels, dealers said. The rupee also closed stronger Wednesday, at 129. 30/40 levels after opening weaker at 129. 80/130.00 rupees against the US dollar. Sri Lanka has upped […]
Sri Lanka shares becalmed
Mar 29, 2012 (LBO) – Sri Lankan shares were barely changed Thursday with some interest seen in financial services and trading volumes picked up from low levels, brokers said. The main All Share Price Index fell 0. 09 percent (4.78 points) to 5,411.79, while the more liquid Milanka index rose 0.52 percent (25.60) to close […]
Rail Links
Mar 29, 2012 (LBO) – Sri Lanka’s is studying the building of a new railway track to the east of the country and also extend another rail track to Hambantota in the South, minister Lakshman Yapa Abeywardene said. He said the cabinet of ministers had asked the Central Engineering Consulting Bureau, a state agency to […]
Board Change
Mar 29, 2012 (LBO) – Sri Lanka’s Pan Asia Banking Corporation (PABC) said its chairman A G Weerasinghe will step down from April 02 and will be replaced by Nimal Perera. Weerasinghe will remain a director. Eshana De Silva has been appointed deputy chairman and Anthony page as senior director also from April 02, the […]
Sri Lanka tea prices recover
Mar 29, 2012 (LBO) – Prices of Sri Lankan tea, especially those grown at low elevations, perked up at this week’s auction, giving some relief to producers battered by rising costs and reduced demand in key markets. “The 3.0 million kilos of low grown teas that came under the hammer this week met with excellent […]