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Sri Lanka short-end Treasuries edge up
Feb 24, 2010 (LBO) – Sri Lanka’s three, six and 12 month Treasury bill yields edged up at Wednesday’s auction, the government’s debt office said. This was higher than the 12.5 billion rupees of maturing bills. The 3-month yield edged up 09 basis points to 8. 26 percent, the 6-month yield was up 06 basis […]
Sri Lankan stocks close 0.14-pct higher
Feb 24, 2010 (LBO) – Sri Lankan shares edged up Wednesday, boosted by renewed buying interest on plantation, construction and insurance stocks, brokers said. The All Share Price Index closed at 3,775. 51, up 5.11 points, while the Milanka index of more liquid shares gained 0.39 percent (16.78 points) to close at 4,331.98. Turnover was […]
Rating Risk
Feb 24, 2010 (LBO) – A fresh risk evaluation of Sri Lanka by London insurers, considered critical in attracting investors after the end of its ethnic war, has been delayed by elections, official involved in the matter said. London underwriters have reduced the risk rating after the 30-year ethnic war ended in May 2009, with […]
Indian rail budget promises high-speed trains
NEW DELHI, February 24, 2010 (AFP) – India’s rail minister announced Wednesday plans for high-speed trains for Asia’s largest rail network as she kept fares unchanged — underscoring the government’s focus on “inclusive growth”. Indian Railways boasts a network of 109,000 kilometers (67,730 miles) that transports some 18.5 million people daily on 14,000 passenger and […]
Sri Lanka gets UN agency loan to help farmers
Feb 24, 2010 (LBO) – A United Nations agricultural development agency said it will give Sri Lanka a loan of 25 million dollars to help small holder farmers increase incomes. The International Fund for Agricultural Development (IFAD), based in Rome, said the loan will directly benefit small producers, women, landless households and young people in […]
‘s biggest carmaker Maruti Suzuki India announced Tuesday it has recalled 100,000 of its best-selling A-Star hatchback cars due to a fuel leakage problem
Maruti, majority owned by Japan’s Suzuki Motor Corp, said it launched the recall last November to fix the fault. The A-Star cars are being recalled both locally and internationally, mainly in Europe, as a “proactive” step, the company said in a statement. “We decided to check all vehicles from the lot, around 100,000 units including […]
Sri Lanka civil rights body warns of growing repression
Feb 24, 2010 (LBO) – Sri Lanka’s Civil Rights Movement (CRM) said recent attacks on peaceful anti-government protestors by government supporters indicated an ‘alarming slide’ towards curbs on democracy. The CRM said previous attempt to violently suppress peaceful protest had given rise to violent rebellions. The Tamil Tiger separatist insurgency began in the late 1970s […]
Sri Lanka watching inflation: CB Governor
Feb 23, 2010 (LBO) – Sri Lanka is concerned about inflation but is expecting pressure on the monetary system to ease after April following the island’s traditional New Year festival, Central Bank Governor Nivard Cabraal said. This week, the Treasury bill stock held by the Central Bank rose to 43 billion rupees from around 35 […]
Sri Lankan shares close flat
Feb 23, 2010 (LBO) – Sri Lankan shares closed flat Tuesday as investors took profits in afternoon trade, while heavy buying interest on selected insurance companies pushed turnover up, brokers said. Commercial Bank of Ceylon closed at 197.75 rupees, up 4.00, Hatton National Bank closed flat at 176.00, Sampath Bank closed at 231.00 rupees, up […]
Finance Deficit
Feb 23, 2010 (LBO) – Sri Lanka’s The Finance Company said its loss for the December quarter shot up to 626 million rupees from a loss of 86 million rupees a year ago. It experienced a run on deposits when its parent, Ceylinco Group, suffered a crisis of confidence after another group firm, Golden Key […]