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Sri Lankan Airlines starts flights to fourth Chinese city
Feb 03, 2011 (LBO) – Sri Lankan Airlines has begun flights to the Chinese city of Guangzhou (Canton), the national carrier’s fourth destination in China, a statement said. The airline said that operations to more cities in China with good frequencies will assist in promoting business and tourism between the two countries. Besides Guangzhou, the […]
Sri Lanka apparel industry shrugs off loss of trade benefit
Feb 03, 2011 (LBO) – Sri Lankan apparel exporters are getting enough overseas orders and not been affected as badly as feared by the loss of duty free access to European Union markets, officials said. “Exports are growing moderately,” said A Sukumaran, chairman of the Joint Apparel Association Forum (JAAF), an industry body. “We have […]
” Sri Lanka
WASHINGTON, February 2, 2011 (AFP) – US Secretary of State Hillary Clinton voiced hope for a “just and democratic” Sri Lanka as she offered congratulations ahead of the war-torn island’s Independence Day on Friday. Clinton said in a statement Wednesday that the United States and Sri Lanka have historically enjoyed “a strong relationship based on […]
Sri Lanka forex reserve target missed due to Iran repayment
Feb 03, 2011 (LBO) – Sri Lanka missed a foreign reserve target set in a deal with the International Monetary Fund due to an early repayment of a loan to Iran, IMF resident representative Koshy Mathai said. The government itself has no capacity to generate foreign exchange, except by borrowing and indebting future generations. Exports […]
Sri Lanka gets more cash, path open for reforms: IMF
Feb 03, 2011 (LBO) – Sri Lanka has got 216. 6 million US dollars from the International Monetary Fund despite missing one key target and lack of data for another, with the lender banking on better budgeting and inflation control. The dollar reserves are more than enough to convert the entire rupee monetary base which […]
Sri Lanka Treasuries yields ease
Feb 02, 2011 (LBO) – Sri Lanka’s Treasury bills yields eased at Tuesday’s auction with the government raising 21. 5 billion rupees after offering 11 billion rupees in bills for roll-over. The 3-month yield fell one basis point to 7. 00 percent, the 6-month yield also fell one basis point to 7. 09 percent and […]
Sri Lanka shares end up 0.99-pct
Feb 02, 2011(LBO) – Sri Lankan stocks closed up Wednesday with active trading seen in the food and beverage sector as well as in index heavy stocks like John Keells Holding, brokers said. The All Share Price Index closed at 7,262. 26, up 0.99 percent (71.49 points) while the Milanka Price Index of more liquid […]
Islamic Banking
Feb 02, 2011 (LBO) – The Monetary Board of the Central Bank of Sri Lanka has given a commercial banking license to Amana Bank, a statement said. Islamic banking is an emerging alternative to the interest-based banking practice and is gaining popularity across the world’s communities. “Amana Bank will be Sri Lanka’s first licensed commercial […]
Bank Issue
Feb 02, 2011 (LBO) – The Colombo Stock Exchange has approved a public share offer by Sri Lanka’s Union Bank to raise 375 million rupees by issuing 15 million ordinary shares at 25 rupees each, a statement said. CSE has approved in principal the application for listing on the main board of the bourse. The […]
Arson Protest
February 1, 2011 (AFP) – Dozens of Sri Lankan journalists took to the capital’s streets Tuesday to condemn an arson attack on an independent website that was blamed by its editor on the government. Reporters, photographers and employees of privately-run media joined a demonstration in central Colombo a day after the arson attack on the […]