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Sri Lanka inflation stumps markets
Mar 16, 2011 (LBO) – Sri Lanka’s rising inflation and negative real rates have stumped markets with bond liquidity vanishing, quotes widening and forward dollar premiums doubling amid uncertainty and lack of direction, dealers said. The weighted average prime lending rate has also started to move up slightly to 9.25 percent in the week ending […]
Sri Lanka stocks extend losses
Mar 15, 2011(LBO) – Sri Lankan stocks fell sharply Tuesday extending Monday’s losses due to credit issues and global concerns, brokers said. The All Share Price Index closed at 7,029. 02, down 1.96 percent (140.74 points) while the Milanka Price Index of more liquid stocks closed at 6,608. 72, down 1.63 percent (109.35 points), according […]
Highway Code
Mar 15, 2011 (LBO) – Sri Lanka is to keep clear land on either side of several expressways that are being planned or built where no buildings will be allowed, a senior official said. Road Development Authority director-general R W R Pemasiri said, owners of private property on either side of the expressway being built […]
Every Minute
Mar 15, 2011 (LBO) – Sri Lanka has registered a new motor bike the equivalent every two and a half minutes and a three-wheeler taxi every six minutes in 2010, the latest official data shows. In 2010 registrations of motor cycles rose 51 percent to 204,811 surpassing an earlier high of 182,508 reached in 2007, […]
Express Bus
Mar 15, 2011 (LBO) – Sri Lanka’s road development and transport authorities are planning bus services for the public on the island’s first expressway part of which is set to open in July, an official said. A fuel station will be set up at Dodangoda in Kalutara on the expressway. Vehicles like three-wheeled auto-rickshaws, motorcycles, […]
Sri Lanka Spence buys Browns hotel shares
Mar 15, 2011 (LBO) – Sri Lanka’s Aitken Spence Hotel Holdings has increased its stake in Browns Beach Hotels, one of the island’s oldest beach resorts which is to be demolished to make way for a new hotel, a statement said. Aitken Spence Hotel Holdings bought 10,000 shares at 21 rupees each, a stock exchange […]
Sri Lanka wards off tuna quota: minister
Mar 16, 2011 (LBO) – Sri Lanka has prevented efforts to restrict her tuna quota in the Indian Ocean Tuna Commission (IOTC), fisheries minister Rajitha Senaratne said. Sri Lanka had revived its activity in the IOTC and was compliant with its rules and did not allow IUU (illegal, unreported, unregistered) fishing,” Senaratne said. Had the […]
Sri Lanka, India talks to end poaching issue
Mar 15, 2011 (LBO) – Sri Lanka is to send a team of officials to India for talks on ending poaching by Indian fishermen in the island’s northern waters, fisheries minister Rajitha Senaratne said. “We hope to sign an agreement with India,” he told a news conference. “We are confident we can resolve this problem […]
Mobile Market
Mar 15, 2011 (LBO) – Profit margins of Sri Lankan mobile phone operators are likely to come under pressure as the market matures and competition intensifies, a Fitch Ratings report said. The industry is now benefitting from the pentup demand from the north and east since the end of the island’s ethnic war in May […]
Fresh riot by asylum seekers on Australian island
SYDNEY, March 15, 2011 (AFP) – Australia’s remote Christmas Island detention centre was hit by a second night of riots on Tuesday, with up to 200 asylum seekers destroying closed-circuit television cameras. It followed a “significant and serious incident” on Monday when police used tear gas to quell a protest of 300 detainees. “We saw […]