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Sri Lanka economic parley to mull growth strategies
Oct 07, 2010 (LBO) – Growth strategies needed to improve Sri Lanka’s economic climate and raise living standards by reducing income inequality will be discussed at a conference of economists later this month, a senior economist said The annual sessions of the Sri Lanka Economic Association will cover development of physical and social infrastructure, enhancing […]
Sri Lanka stocks extend losses
Oct 06, 2010 (LBO) – Sri Lanka’s stocks extended losses Tuesday falling 1. 84 percent on the wake of 1.3 percent fall a day earlier, in a bout of profit taking after Colombo briefly became the best performing stock in the world last week, brokers said. Commercial Bank fell 6.10 to 274.00 and Distilleries fell […]
Vroom
Oct 06, 2010 (LBO) – Sri Lanka’s Diesel and Motor Engineering Company, agents for Mercedes Benz and Tata vehicles, says monthly volumes have doubled to 1,000 units from a year earlier following an economic upturn and cuts in vehicle taxes. The firm also sells Chrysler and Jeep brands from the US, Mahindra and Mahindra vehicles […]
Capital Injection
Oct 06, 2010 (LBO) – Sri Lanka’s The Finance Company is to issue 100 million non-voting shares at 20 rupees each to deposit holders to convert into equity part of their deposits which were blocked after the firm suffered a run, a statement said. The shares will be issued to fixed deposit holders to convert […]
Legal Muzzle
Oct 06, 2010 (LBO) – The Sri Lankan government is trying to suppress exposures of state corruption by launching criminal investigations against the Sri Lankan branch of Transparency International (TISL), a corruption watchdog, a rights body said. “In this way any person may be imprisoned through fabricated charges and by the abuse of criminal justice […]
‘s old car gets green treatment
Oct 06, 2010 (LBO) – The official car used by the US envoy in Colombo has been shipped to its German maker for recycling, instead of being buried in the sea under a new green policy, the US embassy in Colombo said. “Formerly, the Embassy disposed of Ambassadors’ cars by sinking them off the coast […]
” mystery
WASHINGTON, October 6, 2010 (AFP) – The US space agency NASA announced Tuesday it has given the green light to a mission to Mars aimed at investigating the mystery of how the “red planet” lost its atmosphere. NASA gave the approval Monday for “the development and 2013 launch of the Mars Atmosphere and Volatile Evolution […]
Sri Lanka Insurance Corporation sees steep upturn
Oct 06, 2010 (LBO) – State-run Sri Lanka Insurance Corporation (SLIC), the island’s largest insurer by assets is seeing a steep increase in life and motor insurance premium collection and it is also expanding in to the former war-torn north and east of the island. SLIC has collected 9.5 billion rupees in gross written premium […]
Commonwealth Games medals table
NEW DELHI, October 5, 2010 (AFP) – Commonwealth Games medals table after Tuesday’s events:- Gold Silver Bronze Total Australia 9 9 5 23 India 5 4 2 11 England 2 6 4 12 Malaysia 2 2 1 5 South Africa 2 2 1 5 Canada 2 0 5 7 Singapore 2 0 0 2 Nigeria […]
Sri Lanka says met IMF targets, mission in November
Oct 06, 2010 (LBO) – Sri Lanka has met key quantity targets in September for foreign reserves, local borrowing and money creation limits, under a deal with the International Monetary Fund, the Central Bank said. Sri Lanka has not yet released the IMF staff review of the economy was given to the board of the […]