All Blogs
Capital Cover
Nov 29, 2011 (LBO) – Several Sri Lankan lenders will visit Oman and Qatar in December as part of plans to encourage banks to borrow abroad, Deputy Governor Dharma Dheerasinghe said. To encourage banks in the initial stages the Central Bank will also give some comfort through a swap contract to mitigate foreign exchange risk. […]
Sri Lanka mulls more agriculture export zones
Nov 29, 2011 (LBO) – Sri Lanka plans to set up more dedicated ‘agro export zones’ to help promote export of agricultural produce by private sector exporters. The Ministry of Industry and Commerce said in a statement it would set up the zones focusing on private-public partnerships between the government and the private sector. The […]
Regional Role
Nov 29, 2011 (LBO) – Sri Lankan celco Dialog Axiata said its Group Chief Marketing Officer Nushad Perera is to take up a regional role at the headquarters of the Axiata Group Berhad in Kuala Lumpur, Malaysia. The group currently has controlling interests in subsidiary operations in Malaysia, Indonesia, Sri Lanka, Bangladesh and Cambodia as […]
China agri firm to buy Pakistan farmland
ISLAMABAD, (AsiaPulse) – China Green, considered that country’s biggest private agriculture company, is looking to buy 10,000 acres of farmland in Pakistan on lease to grow fruits and vegetables. Federal Minister for National Food Security and Research, Mir Israrullah Khan Zehri, held a meeting with a trade delegation of China Green. Zehri said that Pakistan […]
Sri Lanka power plant shut down after coal fire
Nov 29, 2011 (LBO) – A 300 MegaWatt power plant in Sri Lanka was shut down following a fire at a coal crushing plant but is expected to be re-connected to the grid by noon, an official said. A power ministry spokesman said there was no disruption to supply as it happened in the early […]
Sri Lanka to keep pat on rates to curb credit: CB Governor
Nov 28, 2011 (LBO) – Sri Lanka will maintain its policy rates and maintain reserve ratios for the moment despite falling inflation in a bid to curb credit, Central Bank Governor Nivard Cabraal said. The rupee has come under pressure from excessive credit growth in recent months and there have been steady interventions in forex […]
Sri Lanka stops repo auctions to stabilize rates
Nov 28, 2011 (LBO) – Sri Lanka’s Central Bank will stop repo auctions which drained money at rates higher than a 7. 00 percent standing facility and also allow banks to swap dollars for cash to stabilize money markets, an official said. “We are stopping the repo auctions,” Deputy Governor Dharma Dheerasinghe said. The repo […]
Sri Lanka stocks end up 3.6-pct
Nov 28, 2011 (LBO) – Sri Lankan shares closed sharply higher Monday with the main index jumping back over 6,000 points on optimism a meeting between stockbrokers and President Mahinda Rajapaksa could yield a relaxation of credit rules and price restrictions. Environmental Resources Investments warrants W0003 were the highest gainer of the day, closing at […]
Tele Tracks
Nov 28, 2011 (LBO) – Sri Lankan celco Dialog Axiata is supplying asset tracking services using satellites for rice millers in the main north-central cultivation region that allows monitoring of vehicle movements and their cargoes. Suresh Sidhu, group chief officer for enterprise and global business of Dialog Axiata, said they had supplied rice millers in […]
Digital Economy
Nov 28, 2011 (LBO) – Alcatel-Lucent has said it sees big opportunities in post-war Sri Lanka especially in extending its services from the island’s telecom sector to railways and public safety. Alcatel-Lucent’s Managing Director for Sri Lanka & the Maldives Upendra Samaratunge said the company’s association with Sri Lanka started over three decades ago when […]