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Sri Lanka exports fall in January, trade gap up
Mar 26, 2012 (LBO) – Sri Lanka’s exports fell 0. 6 percent to 917.7 million US dollars in January 2012 from a year earlier with a sharp drop in tea, while industrial exports grew at a sluggish 3. 3 percent, while imports powered ahead, official data showed. Exports Last year, Sri Lanka’s exports grew 22.4 […]
Sri Lanka warns of threat to EU market access
Mar 26, 2012 (LBO) – Sri Lanka’s exports to Europe are growing despite recession there but its markets could be threatened by easier access given to competing export nations, an official said. Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka, said in 2011, Sri Lanka exported 3. 6 billion US dollars worth of […]
American Indulgence
Mar 25, 2012 (LBO) – A concession granted by the United States to Sri Lanka on its sanctions on Iran means the island would not face an immediate total ban on importing crude from the Persian Gulf country, a report said. United States has asked Sri Lanka to scale down crude oil imports from Iran […]
Sri Lanka told proper economic management key to prosperity
Mar 25, 2012 (LBO) – Proper economic management is the key to prosperity, not whether a country is resource-rich or poor, a top Japanese economist has told Sri Lanka. Price stability is also necessary for development and should be considered a priority by policymakers, said Hirohisa Kohama, professor in the faculty of international relations, the […]
‘s 500 best
NEW DELHI, (Asia Pulse) – As many as six Indian brands including — Tata, Airtel, State Bank of India, Reliance, Indian Oil Corporation and Infosys — have been named amongst the world’s 500 best brands this year by global consultancy firm ‘Brand Finance’. The Tata is the only Indian brand making it to the top […]
Indian cotton exports possible in case of surplus: Sharma
NEW DELHI, (Asia Pulse) – Notwithstanding lifting of ban on cotton exports, Commerce Industry and Textiles Minister Anand Sharma has said India will not be able to ship the natural fibre abroad unless it has surplus. “… we will be in a position to export (cotton), when we have that surplus again,” he said at […]
Sri Lanka mulls 10-yr sovereign bond
Mar 23, 2012 (LBO) – Sri Lanka is considering issuing a 10-year sovereign bond when its debut 500 million five-year dollar bond matures this year, Treasury secretary P B Jayasundera said. The debut bond was meant to help the private and banks go for longer maturity funding, he told a news conference. The treasury is […]
Sri Lanka shares end up 1.4-pct
Mar 23, 2012 (LBO) – Sri Lankan shares closed firmed Friday with trading also improving although interest was seen mainly in low value or speculative stocks, brokers said. The main All Share Price Index rose 1. 36 percent (72.63 points) to 5,422.33, while the more liquid Milanka index rose 1. 40 percent (67.04) to close […]
Wheels Trend
Mar 23, 2012 (LBO) – Sri Lanka’s car imports have begun to taper off after surging following tax cuts with sales of Malaysia’s Perodua rising rapidly in a market where Japanese and Indian brands hold sway. In brand new car imports, India’s Maruti/ Suzuki remained the most popular by far with registrations rising from 97 […]
Timely Payment
Mar 23, 2012 (LBO) – Fitch Ratings Lanka has given People’s Leasing Company’s proposed commercial paper issue of up to a billion rupees an ‘F1(lka)’ National Short-term rating. PLC itself is rated ‘A+(lka)’ with a stable outlook, a statement said. “The proposed issuance will be utilised to finance PLC’s working capital / lending.” Of the […]