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‘ death in Sri Lanka: report
Mar 15, 2012 (LBO) – The deaths of two UAE nationals, soon after their arrival in Sri Lanka, could be due to food poisoning from an in-flight meat, a media report said. A mother and a small child had died on Tuesday evening, after arriving in the country earlier in the day. Sri Lanka’s The […]
Sri Lanka tea trade warns of threat to Middle East market
Mar 15, 2012 (LBO) – Sri Lanka’s tea industry has called for urgent improvements in productivity and new markets to ride out volatility in major Middle Eastern markets that continue to dampen tea export earnings. January and February tea prices have averaged about 40 rupees a kilo below that of January February 2011. While there […]
Iranian traders default on US37mn payment to India
NEW DELHI, March 15 (AsiaPulse) – Two Dubai-based Iranian private traders have defaulted on payment of Rs 184 crore (US$36.8 million) to nine Indian rice exporters, Parliament was informed Wednesday. There have been payment issues between India and Iran after sanctions imposed by the US. Iran mainly imports basmati rice from India. “Embassy of India, […]
Safe Search
Mar 15, 2012 (LBO) – Sri Lanka is considering setting up a regional safety training for the oil and gas industry following the discovery of gas in its offshore waters, an official said. Saliya Wickramasuriya, the island’s Director General of Petroleum Resources Development, said safety training is an important requirement for the oil industry which […]
Oil Agenda
Mar 15, 2012 (LBO) – Sri Lanka will auction shallow water blocks in the Mannar Basin to oil exploration companies soon following the discovery of gas by Cairn India in two of three test wells, an official said. Total of France is one of the oil majors which have shown interest in Sri Lanka. “They […]
Sri Lanka Treasuries yields up
Mar 14, 2012 (LBO) – Sri Lanka’s Treasuries yields increased across maturities at Wednesday’s auction with the 3-month yield rising 31 basis points to 10. 42 percent, the state debt office said. The 6-month yield increased 28 basis points to 10. 46 percent and the 12-month yield accelerated 31 basis points to 10.45 percent. The […]
‘s central bank limits excess cash window
Mar 14, 2012 (LBO) – Sri Lanka’s central bank has capped the amount of excess cash that lenders can deposit at its standing facility on days that the monetary authority holds an auction to inject money into the inter-bank markets, bankers said. The banks can earn interest from the central bank by depositing money at […]
‘s Commercial Bank to sell listed debt
Mar 14, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said it is planning to raise at least a billion rupees through sale of listed debt, but may sell more debt if the demand is higher. Commercial Bank said in a stock exchange filing that wanted to sell at least 500,000 redeemable debentures of […]
Sri Lanka stocks close flat, rupee weaker
Mar 14, 2012 (LBO) – Sri Lanka’s stocks closed flat Wednesday, with foreign investors being net buyers and the rupee fell to a new low in forex markets, brokers and dealers said. The benchmark Colombo All Share Index closed down 5. 19 points at 5,418.07 points and the Milanka Index of liquid stocks gained 0. […]
Moral Suasion
Mar 14, 2012 (LBO) – Sri Lanka’s central bank has asked banks to limit credit to buy motor cars, in a bid to reduce imports, as the country faced balance of payments pressure and lost more than a quarter of its foreign reserves. The Central Bank said vehicle dealers had built up large inventories of […]