All Blogs
Sri Lanka gets foreign loans for tourism, roads
Mar 26, 2010 (LBO) – The World Bank has approved a loan of 18 million US dollars to Sri Lanka to develop sustainable tourism, international trade minister Gamini Peiris said. “These funds are to be used for infrastructure development,” Peiris said. “This is a matter of high priority for Sri Lanka now,” he told a […]
Sri Lanka retirement fund gives 10-pct return for 2009
Mar 25, 2010 (LBO) – Sri Lanka’s Employees’ Provident Fund gave members a real rate of interest of 10.01 percent in 2009 with annual average inflation falling to 3.4 per cent, the Central Bank said. It said in a statement the fund, which it manages, has declared the highest-ever rate of interest of 13.75 per […]
Sri Lankan stocks close up 0.21-pct
Mar 25, 2010 (LBO) – Sri Lankan stocks closed higher Thursday pulled up by gains in index heavy John Keells Holdings (JKH), while a large deal on Hatton National Bank (HNB) pushed turnover to over five billion rupees, brokers said. The All Share Price Index closed at 3,730.43, up 7.71 points, while the Milanka index […]
Bank Buy
Mar 25, 2010 (LBO) – Sri Lankan government controlled funds bought chunks of Hatton Nation Bank on the Colombo bourse Thursday increasing their stake in the private listed bank to 25 percent of its voting rights, brokers said. “Now the government owns 25 percent of HNB,” the spokesman from Capital Trust Securities said. Sri Lanka […]
Top Marks
Mar 25, 2010 (LBO) – Commercial Bank has been declared Sri Lanka’s best bank in 2010 for the 12th year running by Global Finance magazine, the bank said in a statement. The US-based financial publication’s latest listing of the ˜Best Emerging Markets in Asia’ is to published in its May issue. The report covers the […]
‘s cancelled concert
March 25, 2010 (AFP) – Sri Lanka lost a “priceless” promotional opportunity by banning the US star Akon from performing at a concert in Colombo following protests from Buddhist monks, the tourism minister said Thursday. The rapper’s concert on April 24 was blocked after monks complained about his “Sexy Bitch” music video featuring women in […]
Sri Lanka builds to lure business visitors
Mar 25, 2010 (LBO) – Sri Lanka is building more convention centres amid fears of a shortage of accommodation following a flood of tourists with the end of its war and temporary closure of a big conference hall. Tourist industry officials said they are promoting MICE tourism, as travel abroad for Meetings, Incentives, Conventions and […]
Sri Lanka launches new tea certification scheme
Mar 25, 2010 (LBO) – Sri Lanka has introduced a quality certification programme for tea exports to ensure cleaner teas are sent to overseas markets, devoid of stones and other contamination now found during pre-export screening, officials said. Random test will be done on products to ensure they conform to the standards after certification is […]
Disappearing island solves India-Bangladesh dispute
KOLKATA, March 25, 2010 (AFP) – A tiny island at the centre of a territorial dispute between India and Bangladesh has disappeared beneath the waves due to rising sea levels and erosion, scientists say. At its height, it was never more than two metres (about six feet) above sea level. Hazra said a larger island, […]
Sri Lanka Treasuries yields edge up
Mar 24, 2010 (LBO) – Sri Lanka’s 3-month Treasury bill yields moved up 05 basis points to 8. 45 percent at Wednesday’s auction, the government’s debt office said. The 6-month yield moved up 05 basis points to 9. 19 percent while the 12-month yield stayed flat at 9.47 percent. The government’s debt office said it […]