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‘s foreign commercial debt more than doubles in 2009
Mar 05, 2010 (LBO) – Sri Lanka’s foreign commercial debt has risen dramatically in 2009 as lender confidence increased after a deal with the International Monetary Fund and the fiscal deficit expanded, official data shows. Sri Lanka’s total commercial debt, including defence loans accrued during a war with Tamil Tigers which ended in May 2009, […]
Sri Lanka shares end up 0.48-pct
Mar 05, 2010 (LBO) – Sri Lankan stocks closed closed firmer Friday with investors buying into hotels which are seen doing well given the upturn in tourist arrivals, but foreigners remained net sellers for the week, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The […]
Banking Move
Mar 05, 2010 (LBO) – Sri Lanka’s NDB Bank said its chief executive Eran Wickramaratne has resigned from his post as he plans to enter parliament as a member of the main opposition United National Party. The bank said in a stock exchange filing that Russel de Mel, now serving as vice president – head […]
Finance Offer
Feb 05, 2010 (LBO) – Sri Lanka’s Vallibel Finance, a unit of Vallibel group of entrepreneur Dhammika Perera, said it is selling down a 25 percent stake in an initial public offering on the Colombo Stock Exchange’s main board to raise 114.4 million rupees. “The funds will be used for new leasing, hire purchase and […]
Sri Lanka former war zone highlighted in travel guide
Mar 05, 2010 (LBO) – Two British travel writers have published a guide book on tourist attractions in Sri Lanka’s former war zone in the north and east, now accessible to the visitors after 30 years of conflict. Juliet Coombe, a photojournalist for the BBC Lonely Planet guide book, and her co-writer Daisy Perry spent […]
LBR- LBO CFO Forum
Mar 05, 2010 (LBO) – Accounting principals have been the same for almost 500 years, but the role of the accountant has evolved from a book keeper and today’s finance managers should play a more active role in steering the business, a senior accounting professional said. “Ever since Italian monk Pacioli came up with double […]
Economic Laws
Feb 05, 2010 (LBO) – Sri Lanka will fast-track legislation related to the economy when a new parliament convenes on April 22 after national polls, international trade minister Gamini Lakshman Peiris said. “We have an opportunity to develop the economy we have not had for more than 20 years,” minister Peiris told reporters. “It is […]
Pocket Money
March 05, 2010 (LBO) – Etisalat’s new Sri Lankan mobile subsidiary is in talks with banks to offer financial services on mobile phones, such as money transfers for migrant workers in the Middle East, a senior company official said. Riyaaz Rasheed deputy chief executive of Etisalat Lanka said the mobile operator is seeking to tie-up […]
EU expects free trade deal with India by October
NEW DELHI, March 4, 2010 (AFP) – The European Union expects to clinch a free trade pact with India by October, the EU’s trade chief said Thursday, as the 27-member trading bloc pushes to secure new markets across Asia. “The deal should be done by the next summit between the EU and India in October,” […]
Sri Lanka to protect Colombo from floods with Chinese finance
Mar 05, 2010 (LBO) – Sri Lanka will build a flood protection system for parts of the capital Colombo with Chinese funding, a government minister said. Colombo suburbs of Kotte, Dehiwela-Mount Lavinia, Maharagama, Kesbewa and Moratuwa will be protected from storm water flooding by the project, minister Gamini Lakshman Peiris said. The 6,800 million rupees […]