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India fight to save Test after Sri Lanka blitz
AHMEDABAD, November 19, 2009 (AFP) – India were waging a grim battle to survive the first cricket Test after Sri Lanka went on a record-breaking batting spree on the fourth day here on Thursday.The Indians, trailing by 334 runs on the first innings as Sri Lanka piled on 760-7 declared, moved to 190-2 in their […]
Sri Lanka private equity fund upbeat on MBOs, retailing
Nov 19, 2009 (LBO) – A new private equity fund targeting Sri Lanka will focus on supporting management buyouts, and is upbeat on opportunities in retailing, tourism and information technology as the island recovers from a 30-year war, officials said.Investors who enter the Leopard private equity fund will have to look up money for ten […]
Sri Lanka bill yields fall after rate cut
Nov 18, 2009 (LBO) – Sri Lanka Treasury bill yields fell across the board following a 50 basis point rate cut earlier in the day, and with the 3-month yield slipping below the repo rate at which cash is drained from the system. The debt office, which is a unit of the Central Bank, said […]
Sri Lankan stocks close down 0.41-pct
Nov 19, 2009 (LBO) – Sri Lankan shares closed down Wednesday as retail investors were seen unloading mid capped stocks due to selling pressure, brokers said.The All Share Price Index closed at 2,970.90, down 0.41 percent (12.35 points), while the Milanka Price Index of more liquid stocks closed at 3,376.44, down 0.12 percent (4.04 points). […]
Capital Measures
Nov 18, 2009 (LBO) – Sri Lanka’s The Finance Company, which ran out of capital at the end of the September 2009 quarter, said it was cutting deposit rates and has called a meeting of shareholders on December 11.The firm had lost 1.528 billion during the six months to September 2009, had lost its capital […]
Sri Lanka to do tourism master plan
Nov 18, 2009 (LBO) – Sri Lanka is preparing a 10-year tourism master plan covering new infrastructure in former war zones and avoiding the haphazard development that happened in existing resort areas, an official said.S Kalaiselvam, director-general of the Tourism Authority, said a new master plan was needed to ensure planned, sustainable development of tourism […]
‘s double ton floors India in first Test
AHMEDABAD, November 18, 2009 (AFP) – Former captain Mahela Jayawardene scored his sixth double-century as Sri Lanka seized control of the first Test against India here on Wednesday.Jayawardene was unbeaten on 204 as the tourists closed the third day at 591-5 in their first innings, a lead of 165 runs over India’s 426 with five […]
Sri Lanka cuts rates, narrows policy corridor
Nov 18, 2009 (LBO) – Sri Lanka’s Central Bank has cut its main policy rate that injects liquidity into the banking system by 75 basis points to 9.75 percent and the rate at which it drains liquidity by 50 basis points to 7.50 percent. The Central Bank said it had bought dollars from the market […]
Sri Lanka issues new commemorative note
Nov 17, 2009 (LBO) – Sri Lanka has issued a commemorative note featuring President Mahinda Rajapaksa, key turning points in a military victory over Tamil Tiger separatists, and the country’s unitary status, the Central Bank said.The theme of the obverse of the note is “one country and one nation in harmony, progressing towards prosperity” led […]
Sri Lanka rupee opens stronger
Nov 17, 2009 (LBO) – Sri Lanka’s rupee opened stronger against the US dollar with a state bank that usually acts for the monetary authority buying at 114.25 Tuesday up from yesterdays 114.35 levels, dealers said. Sri Lanka’s rupee was pegged at 114.80 levels for most of the year following float in March that got […]