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Sri Lanka invites New Zealand PM for semi-finals
March 27, 2011 (AFP) – Sri Lanka’s President Mahinda Rajapakse on Sunday invited New Zealand Prime Minister John Key to witness the cricket World Cup semi-finals between the two nations on Tuesday, an official said. Rajapakse asked Key to visit the island after the home team crushed England by 10 wickets on Saturday to reach […]
Sri Lanka put weary England out of misery
NEW DELHI, March 26, 2011 (AFP) – Sri Lanka ended England’s gruelling five-month global odyssey with a comprehensive 10-wicket triumph on Saturday to set up a World Cup semi-final showdown against New Zealand. Openers Tillakaratne Dilshan, with 108 not out, and Upul Tharanga, who hit an unbeaten 102, enjoyed their second 200-plus partnership of the […]
Sangakkara hails attack-minded Sri Lanka
March 26, 2011 (AFP) – Sri Lanka skipper Kumar Sangakkara credited his bowlers for keeping up the pressure on England right from the first ball in the World Cup quarter-final on Saturday. The Sri Lankan skipper said his team would not be complacent despite the huge victory. “It is important to be confident but we […]
Indian PM commits to reforms
NEW DELHI, March 26, 2011 (AFP) – India’s prime minister has reaffirmed his Congress-led government’s commitment to economic reforms as the administration battles a host of corruption scandals. Economic liberalisation had “ended old opportunities for corruption and favouritism… but human ingenuity and the desire to make a quick buck are such that the greedy are […]
Post war Sri Lanka tackling challenges in education, ageing population: World Bank MD
Mar 26, 2011 (LBO) – Sri Lanka is dealing with fresh challenges as a middle income country in education, the health sector while coping with a rapidly ageing population, after the end of a war, the World Bank has said. World Bank said it was ready to help the country with knowledge resources. Sri Lanka […]
Sri Lanka shares close up 0.33-pct
Mar 25, 2011 (LBO) – Sri Lankan shares closed higher Friday, extending the previous day’s gains with interest seen in a cable firm and several off-the-floor deals, brokers said. The All Share Price Index closed at 7,240.27, up 0.33 percent (23.52 points) while the more liquid Milanka index rose 0.65 percent (44.43 points) to close […]
Recovery Road
Mar 25, 2011 (LBO) – Fresh capital will soon be given to the remaining Sri Lankan finance companies that got into trouble two years ago, prompting intervention by the banking regulator, senior central bank officials said. “It has taken over two years but was much quicker than the liquidation process.” Strategic investors have been found […]
Credit Access
Mar 25, 2011 (LBO) – Sri Lanka’s NDB Bank has joined a World Bank credit scheme to channel low cost loans to small and medium enterprises (SMEs) through eight lending institutions. SMEs with an annual turnover of less than 300 million rupees operating in a large number of sectors are eligible to apply under concessionary […]
Exposure Limits
Mar 25, 2011 (LBO) – Sri Lanka’s banking regulator plans to limit exposure of banks to the stock market to prevent the risk of a downturn in equities affecting the financial sector, a senior central bank official said. Samarasiri, who spoke at a public forum on how the central bank revived finance companies that collapsed […]
Sri Lanka rubber prices rebound
Mar 25, 2011 (LBO) – Sri Lankan rubber prices have recovered after a temporary fall triggered by overseas demand and supply factors, and look set to stay strong on rising global tire demand, trade officials said. Natural rubber prices at the Colombo auctions hit record highs in February and then slumped sharply after increased supply […]