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Sri Lanka private worker pension funds pays 12.5-pct
Mar 12, 2011 (LBO) – A pension fund of private citizens of Sri Lanka worth 900 billion rupees, the island’s biggest investment fund, has paid 12. 5 percent to its beneficiaries in 2010 its state managers said. The central bank said annual contributions rose 12. 5 percent and active members increased 9.5 percent “reflecting the […]
Sri Lanka private pension fund makes equity gains
Mar 12, 2011 (LBO) – A pension fund of private Sri Lankan citizens managed by the state has made large capital gains by investing in stocks with the share of equity in the 900 billion rupees fund rising to 5.0 percent from 1.3 percent, its managers said. Sri Lanka’s Employees Provident Fund, which is made […]
Sri Lanka forced selling drives down stocks
Mar 11, 2011(LBO) – Sri Lankan stocks closed 0. 96 percent lower with active retail trading and forced selling due to credit issues, brokers said. “Forced selling was seen in trading with margin calls coming on several stocks. The credit issue was one of the main reasons,” an analyst said. In November 2010, the Securities […]
Sri Lanka may temporarily allow maize imports
Mar 11, 2010 (LBO) – Sri Lanka may temporarily lift a 35 percent import tax on maize to prevent prices going higher and hurting the island’s poultry industry after floods destroyed a part of the domestic crop, an official said. Sri Lanka’s agriculture ministry has requested approval from the cabinet of ministers to cut taxes […]
Sri Lanka tea crops recover
Mar 11, 2011 (LBO) – Tea harvests from Sri Lanka’s main plantations areas have improved following a slump caused by bad weather which affected the first quarter ‘Western quality season’, brokers said. Unseasonal heavy rains had affected tea harvests especially on the western slopes of the island’s central hills which usually produce quality teas in […]
Affordable Access
Mar 11, 2011 (LBO) – Sri Lanka will seek to negotiate with international software vendors to try to bring down prices by up to half in its drive to promote information and communication technology business, a report said. Sri Lanka has recently been cracking down on software piracy after being ranked the second worst offender […]
Sri Lanka in talks for a 30MW municipal waste plant
Mar 11, 2011 (LBO) – Sri Lanka’s state -run Ceylon Electricity Board is in talks with a private developer to buy power from a 30MegaWatt municipal waste burning plant, a government minister said. Minister Ranawaka said there are about proposals to start 15 waste-burning plants. Sri Lanka’s power regulator’s latest tariffs offer 22. 02 rupees […]
Sri Lanka seal World Cup quarters berth
NEW DELHI, March 10, 2011 (AFP) – Sri Lanka became the first team to qualify for the World Cup quarter-finals on Thursday after an emphatic victory over Zimbabwe that virtually ensures last eight spots for New Zealand and Pakistan. The joint hosts now have seven points from five games in Group A, one clear of […]
Sri Lanka information desk for Japan tsunami
Mar 11, 2011 (LBO) – Sri Lanka’s Ministry of External Affairs said it has set up an information desk to help nationals seek news of relations in Japan in the aftermath of the earthquake and tsunami there. It said in a statement those who cannot get information about their next of kin in Japan following […]
Sri Lanka receive Japanese grant for community development
Mar 11, 2011 (LBO) – The Japanese government handed over an 18 million rupee grant to two community development organizations for development projects in Sri Lanka’s Ratnapura and Trincomalee districts. The Association of Social Activities Development Sri Lanka (ASAD) was the recipient of a 10 million rupee grant for a conflict affected community development project […]