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India, Sri Lanka, Maldives run scrapped by Greek cruise line: report
Jan 19, 2010 (LBO) – Louise Cruises, a Greece based line which started a service running out of India to Sri Lanka and Maldives was pulling out after suffering losses due to high cost of operating out of Indian ports, media report said. The company was laying of 200 or relocating 200 crew hired for […]
Sri Lanka farmers to learn to live with wild elephants
Jan 18, 2009 (LBO) – Sri Lanka rural farmers living close to forested areas with wild elephants will be taught to manage human animal conflicts through a new model dairy pilot project, its promoters said. Exetel, an Australian IT firm that runs a call centre in Sri Lanka and the Sri Lanka Wildlife Conservation Society […]
Deadly unrest flares in Sri Lanka ahead of vote
January 18, 2010 (AFP) – A Sri Lankan opposition supporter was killed on Monday as fresh unrest erupted ahead of next week’s presidential election despite a security crackdown, police said. The man was killed in a clash with ruling party activists in northwestern Sri Lanka, the third politically-related death in the run-up to the vote […]
” private sector salary hike
Jan 19, 2010 (LBO) – Sri Lanka’s labour minister has “ordered” a 2,500 rupee salary hike to private sector workers, a ministry statement said, though an organization representing the major employers said they had no knowledge of the move. The statement said a 405 rupee a month wage deal negotiated between a group of large […]
Sri Lanka holds policy rates steady
Jan 19, 2010 (LBO) – Sri Lanka’s central bank said it was keeping its main reverse repurchase policy rate at which money is injected to markets steady at 9. 75 percent, though inflation has started to pick up. “Though some volatility has been observed in the short term money market rates in recent weeks, market […]
Sri Lanka private sector credit up in November
Jan 18, 2010 (LBO) – Sri Lanka’s private sector loans surged 11. 7 billion rupees to 1,188 billion in November 2009, as rates fell to levels that stimulated credit demand, central bank governor Nivard Cabraal said. The Central bank has also pushed banks to lend in former war torn northern and eastern areas approving new […]
Sri Lanka anchor currency inflation up
Jan 18, 2010 (LBO) – Consumer inflation in the United States, to whose currency the Sri Lanka rupee is tightly pegged, rose to 2.7 percent in December 2009 from a year earlier according to the latest data, as the island’s inflation also moved up. Sri Lanka has been quantity tightening from April 2009 by selling […]
Sri Lankan stocks close 0.97-pct down on retail profit taking
Jan 18, 2010 (LBO) – Sri Lankan shares closed lower Monday as retailers took profits, while Hatton National Bank (HNB) and DFCC Bank sold out of Lanka Ventures to Acuity Partners, an investment bank, brokers said. The All Share Price Index closed at 3,528. 55, down 0.97 percent (34.59 points while the Milanka index of […]
Liberty
Jan 18, 2010 (LBO) – The first part of a series of forex control relaxations announced in January will be implemented from February 01, Central Bank Governor Nivard Cabraal said. Cabraal announced a sweeping easing of existing exchange controls on January 04, as part of a monetary policy direction for 2010. Relaxation “We announced measures […]
Sri Lanka air cargo volumes hit life high in Dec 09
Jan 18, 2010 (LBO) – Cargo volumes at Sri Lanka’s main international airport have hit a life high in December 2009, topping a previous record in 2006, the island’s state-run national carrier which operates the terminal said. Sri Lankan Airlines which operates the cargo terminal at Bandaranaike International Airport in Katunayake said 23 airlines had […]