All Blogs
Sri Lanka stocks fall sharply
Mar 14, 2011(LBO) – Sri Lankan stocks fell sharply Monday, extending losses from the previous week with forced selling by retail investors sending the market down across-the-board, brokers said. The All Share Price Index closed at 7,169.76, down 1.96 percent (143.26 points) while the Milanka Price Index of more liquid stocks closed at 6,718.07, down […]
Moving Freedom
Mar 14, 2011 (LBO) – Imports of all types of vehicles to Sri Lanka rose 75.9 percent to 359,243 in 2010 amid strong economic growth which increased demand and also a cut in state taxes for cars, government data showed. Imports of motor cars rose four fold to 23,072 in 2010 from 5,762 a year […]
Port Parley
Mar 14, 2011 (LBO) – A German delegation headed by a Sri Lankan-born official from the port of Hamburg held talks with Sri Lanka Ports Authority (SLPA) on assistance and collaboration between the two harbours, a statement said. The construction of the breakwater of the Colombo Port Expansion Project is on schedule and is expected […]
Sri Lanka tourist arrivals up 14.8-pct in Feb
Mar 14, 2011 (LBO) – Sri Lanka’s tourist arrivals rose 14. 8 percent to 65,797 in February 2011 from a year earlier, though visitors from key generating markets in the United Kingdom and Germany dropped. February arrivals were also lower than the January peak of 74,197 as the Western European winter season drew to a […]
Niche Market
Mar 14, 2011 (LBO) – Sri Lanka is becoming an attractive location for ‘Finance and Accounting Outsourcing’ (FAO) with the world’s second largest pool of management accountants and wages lower than India, a report said. “The availability of a large pool of skilled finance and accounting professionals makes FAO one of the most logical niche […]
Australian police use tear gas on asylum seekers
SYDNEY, March 14, 2011 (AFP) – Australian police used tear gas to quell a protest of 300 asylum seekers on remote Christmas Island on Monday, as the government warned of a tense mood within the under-pressure detention centre. More than 6,500 refugees — mostly from Iraq, Afghanistan and Sri Lanka — arrived in Australia last […]
India captures 61 Somali pirates after clash: navy
NEW DELHI, March 14, 2011 (AFP) – The Indian navy has captured 61 suspected Somali pirates and rescued 13 fishermen after a firefight with a pirate mothership in the Arabian Sea, a navy spokesman said Monday. “A total of 74 men have been apprehended of which 61 are suspected to be Somali pirates,” Indian navy […]
Sri Lanka land prices seen rising
Mar 14, 2011 (LBO) – Land prices in Sri Lanka are set to rise with interest rates seen “benign” this year and remittances from migrant workers who send money back to build homes staying strong, the central bank said. “When the asset prices fall, financial markets, investors and financial institutions are adversely affected and such […]
Fair Share
Mar 13, 2011 (LBO) – Sri Lanka’s Central Bank is expected to order commercial banks to limit use of bank guarantees to apply for shares in initial public offers to ensure small investors a fairer share, a report said. A minimum of 10 percent of an issue will be made available for allotment to Unit […]
Hazard Warning
Mar 13, 2011 (LBO) – A Great Earthquake, one of the most powerful in recorded history, occurred off the coast of Honshu, North East Japan, on the 11th of March 2011. The previous Great Earthquake in Asia occurred off the coast of Sumatra, North West Indonesia, on the 26th of December 2004. Both were followed […]