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Sri Lanka issues tsunami evacuation order
Apr 11, 2012 (LBO) – Sri Lanka has issued a tsunami evacuation asking residents in coastal areas to move to safer areas inland, following a strong earthquake in Indonesia. The department of meterology said residents in Eastern and Southern coastal areas should move inland quickly. Tsunami waves are expected to first hit the Eastern and […]
Sri Lanka may see tsunami waves after 4.00 pm: PTWC
Apr 11, 2012 (LBO) – A tsunami watch has been issued for many areas in the Indian Ocean following an earthquake, by US authorities in Hawaii, who said waves could reach Sri Lanka shortly after 4. 00 pm if a tsunami had been generated. In December 2004 an tsunami from a much larger quake (9. […]
Sri Lanka state enterprises urged to adopt market pricing
April 11, 2012 (LBO) – Sri Lanka’s central bank has called on loss-making state enterprises to ensure financial viability by better management and market pricing to reduce reliance on the budget and borrowings that cause macro-economic problems. It said that in 2011, policy measures were initiated by the government to improve the performance of SOEs […]
Sri Lanka CEOonline resource centre launched
Apr 11, 2012 (LBO) – An online resource centre with the participation of prominent business leaders, chief executives, academics and economists has been launched in Sri Lanka allowing readers to interact with them and share ideas. portal (www.ceoonline.lk) allows readers to reach more than 50 senior corporate executives, academics and researchers who serve as honorary […]
Sri Lanka shares becalmed
April 10, 2012 (LBO) – Sri Lankan shares closed almost stagnant Tuesday with trading still at low levels ahead of traditional new year holidays later in the week, brokers said. Swarnamahal Financial Services was the most actively traded stock, closing at 8. 80 rupees, up 30 cents while Piramal Glass was also actively traded, ending […]
Rolling Loss
April 10, 2012 (LBO) – Losses at Sri Lanka’s state-run railway rose in 2011 despite the acquisition of more rolling stock and increased carriage of passengers and goods, the central bank said. At present, SLR’s contribution to passenger and freight transportation remains as low as five percent and one percent, the central bank said. “In […]
Sri Lanka firm to plant rubber in Cambodia
April 10, 2012 (LBO) – Sri Lankan plantation company Kotagala Plantations plans to plant 20,000 hectares of rubber in Cambodia, it said in a stock exchange filing. Kotagala Plantations has 12 tea and 11 rubber plantations in Sri Lanka. It has eight rubber manufacturing units, producing pale crepe and sole crepe. The total value of […]
KLM sees passenger traffic rise in March
Apr 10, 2012 (LBO) – KLM group said passenger traffic increased 6.8 percent in March with load factor rising 3.8 percent to 82.5 percent with gains in Americas, Europe, Middle East and Asia, though cargo business fell. The airline said cargo traffic dropped 3.4 percent and load factor fell 2 percent to 69.2 percent. Traffic […]
Sri Lanka unemployed down to 4.2-pct: data
Apr 10, 2012 (LBO) – Sri Lanka’s unemployment fell to 4.2 percent in 2011 from 4.9 percent a year earlier with more people being employed in agriculture and industry, official data showed. The Central Bank quoting a survey by the statistics office said total unemployed fell to 342,000 from 401,000 a year earlier. People working […]
Sri Lanka aims at forex reserves of 4.5 months of imports: CB Governor
Apr 10, 2012 (LBO) – Sri Lanka would aim to maintain foreign reserves equal to 4. 5 months of imports with balance of payments surplus of 1.2 billion US dollars projected for 2012, Central Bank Governor Nivard Cabraal said. “A level of 4.5 months (of imports) is comfortable,” Cabraal told reporters. “If it goes down […]