All Blogs
Legal Basis
Nov 20, 2011 (LBO) – A Sri Lankan activist who had petitioned courts to review an expropriation law says recent interpretations given by state spokesmen may mislead citizens whose property was seized. Sri Ameresekere, an accountant who has been involved in several public interest petitions said statements by Sri Lanka’s central bank and information minister […]
Sri Lanka budget to cut deficit, maintain capex
Nov 20, 2011 (LBO) – Sri Lanka’s budget for 2012 to be presented to parliament on Monday will seek to further narrow a deficit, maintain public investment and create an environment to improve productivity, officials have said. According to earlier statements, the 2012 plans to cut the deficit to 6.2 percent of gross domestic product […]
Finance Growth
Nov 19, 2011 (LBO) – Profits at Sri Lanka’s Vallibel Finance, rose 157 percent to 60.1 million rupees in the September 2011 quarter from a year earlier, helped by strong loan growth and other income, interim accounts showed. Lost loss provisions rose 42 percent to 2.8 million rupees. Other income rose 195 percent to 25. […]
Malaysia sovereign fund to invest in India
MUMBAI, (Asia Pulse) – Khazanah Nasional, the sovereign wealth fund of the Malaysian government, plans to invest in sectors like financial services, infrastructure and energy in India in the near future. “We are looking at sectors like financial services, infrastructure and energy for investment in the near future,” Khazanah Nasional executive director Michael Jude Fernandes […]
Indian govt, to moot South Asian postal union
NEW DELHI, (AsiaPulse) – The Indian government is likely to discuss the proposal to form South Asian Postal Union, a move that will enhance regional cooperation and can lead to reduction of postal tariffs among SAARC member states. “The proposal to set up South Asian Postal Union (SAPU) is scheduled for discussion in the Cabinet […]
Lessons for Sri Lanka: Vietnam President Sang reveals secrets of FDI success
Nov 19, 2011 (LBO) – Vietnam’s remarkable success of drawing foreign direct investment, even from former foes involved in a bitter civil war, came from a combination of foreign and economic policy, Vietnam President Truong Tan Sang said. France, a former colonial power with which the first Indochina war was fought, has invested 2.9 billion […]
Sri Lanka rupee peg weakens slightly
Nov 18, 2011 (LBO) – Sri Lanka’s currency weakened to 20 cents to 110. 40 rupees to the US dollar in the spot market Friday, with market quotes at 110.35/40 rupees dealers said. The central bank has been intervening steadily in forex markets. The rupee had come under some pressure over the past few months […]
Sri Lanka stocks end up 0.8-pct
Nov 18, 2011 (LBO) – Sri Lankan shares ended higher for the second day running with turnover boosted by big chunks of a tile maker which changed hands at a premium, brokers said. Heavy trading in John Keells Holdings also bolstered turnover. It closed at 174.40 rupees, down 50 cents, with 1. 3 million shares […]
Rail Link
Nov 18, 2011 (LBO) – Sri Lanka has signed a deal with India to restore part of a northern railway line that was damaged during the ethnic war under project funded by soft loans from New Delhi. The agreement between Sri Lanka Railways and the Indian government owned IRCON was for the restoration of the […]
Cargo Lift
Nov 18, 2011 (LBO) – Container terminals at Colombo port run by state-owned Sri Lanka Ports Authority (SLPA) have received a second batch of new cranes to replace aging equipment, a statement said. Three gantry cranes and eleven rubber tired yard gantry cranes to transfer cargo were delivered this week by Chinese manufacturer ZPMC. They […]