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Sri Lanka must curb state consumption, inflate less to raise incomes: economist
Mar 12, 2010 (LBO) – Sri Lanka has to curb excessive state consumption, keep inflation low to encourage private savings, and improve governance to draw foreign capital to promote growth and incomes, a top economist has said. Higher savings were required to increase growth and achieve the targets of replicating the economic success of East […]
Sri Lanka gets US$67.4mn more from India for railways
Mar 11, 2010 (LBO) – The Export Import Bank of India is giving Sri Lanka 67. 4 million US dollars in top funding in a project which will slash travel times along a coastal railway track, the finance ministry said. Rolling stock maintenance facilities will be built in Alutgama, Galle and Colombo. In 2008 India […]
Sri Lanka rupee strengthens against greenback
Mar 11, 2010 (LBO) – Sri Lanka rupee strengthened to 114.0 to the greenback with the spot dollar quoted at 113. 95/114.05 with banks unwilling to hold dollars with high short term rupee interest rates, and the central bank staying in the sidelines, dealers said. On Wednesday the central bank rejected bids for an entire […]
Sri Lanka rejects bids at Treasuries auction
Feb 11, 2010 (LBO) – Sri Lanka has rejected all bids at the Treasuries auction Wednesday which offered to roll over 10. 5 billion rupees of maturing, bills the government’s debt office said. The central bank also mopped up 3. 6 billion rupees through a central bank securities auction where 10 billion was originally released. […]
Sri Lanka shares end up 0.82-pct
Mar 11, 2010 (LBO) – Sri Lankan stocks closed firmer Thursday with interest in banking stocks mainly by institutional or high-net-worth individual investors, brokers said. Hotel Services (Ceylon) closed at 21 rupees, up one rupee, with over four million shares traded, including two blocks of 500,000 at 20 rupees a share. Janashakthi Insurance Company closed […]
Sri Lanka Customs moves towards e-commerce
Mar 11, 2010 (LBO) – Sri Lankan importers will get an opportunity to present documents electronically to the customs by the middle of the year, the head of the Customs Department said. Sarath Jayatilleke, director-general of Customs, said the department would shift to a more advanced electronic data interchange system by June or July. “We […]
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March 11, 2010 (AFP) – Former Sri Lankan army chief and defeated presidential candidate Sarath Fonseka will face three charges in a military court, including “conduct unbecoming an officer,” a source said Thursday. “There will be three charges against him,” said the military source, who declined to be named. In addition to the “conduct unbecoming” […]
Family fears for missing Sri Lankan cartoonist – Focus
March 11, 2010 (AFP) – Six weeks ago Sri Lankan political writer and cartoonist Prageeth Eknaligoda went missing, and his fate has raised further concerns about the island’s culture of violence against the media. Eknaligoda, who contributed to the pro-opposition Lankaenews. com website, did not return home after work on January 24, two days before […]
‘s consumer prices soar to 2.7-pct in February
BEIJING, March 11, 2010 (AFP) – Chinese consumer prices rose for the fourth straight month in February while new lending slowed sharply, data showed Thursday, adding pressure on Beijing to fulfill its vow to control inflation. Analysts said the jump in prices would not trigger a knee-jerk response from policymakers in the world’s third-largest economy […]
Sri Lanka tourist arrivals up 68-pct in February: data
Mar 11, 2010 (LBO) – Sri Lanka tourist arrivals surge 67.7 percent to 57,300 in February 2010 from a year earlier, with steep increases in generating markets in India, UK and Germany, official data showed. Visitors from Singapore rose 112 percent to 829. Sri Lanka has seen a surge of tourist arrivals with the industry […]