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Sri Lanka property eyed by Indian developer after war: report
Aug 19, 2009 (LBO) – India’s Puravankara Projects, a Bangalore-based developer is looking to start an upmarket housing project after a civil war ended, an Indian media report said, though the property market in the island is in the doldrums. The report said Puravankara’s Sri Lanka move comes at a time when Bangalore itself is […]
Sri Lanka on track to wrap international offering by October
Aug 18, 2009 (LBO) – Sri Lanka will shortly call for bids from international investment banks to help raise debt from international markets, with the deal to be completed by October, a top official said. A team of government officials went on a ‘non deal’ global road show to major financial centres arranged by HSBC […]
Sri Lankan stocks up, rupee gains
Aug 18, 2009 (LBO) – Sri Lankan shares closed up Tuesday as investors regained some confidence and bet on blue chip and hotel stocks, while the rupee continued to gain against the dollar, brokers and dealers said. The benchmark Colombo All Share Price Index (ASPI) closed up 1.15 percent (28.73 points) to end at 2,529.19, […]
Shipping Costs
Aug 18, 2009 (LBO) – Sri Lankan shippers face the prospect of an increase in transportation costs to export markets with loss-making global carriers beginning to raise freight rates in an effort to restore profitability.The line, which controls about 15 percent of the global container market, has also announced rate hikes on other trade routes. […]
Sri Lanka coconut exporter does well in June
Aug 18, 2009 (LBO) – Sri Lanka’s Coco Lanka said exports of coconut products did well in the June 2009 quarter with group net profit up 982 percent to 34 million rupees from just three million a year ago. The company, part of the Renuka Holdings group, said in a stock exchange filing that sales […]
Sri Lanka flay New Zealand in first Test
GALLE, August 18, 2009 (AFP) – Mahela Jayawardene and Tillakaratne Dilshan pulverised New Zealand’s bowlers to help Sri Lanka make a spectacular start in the first cricket Test on Tuesday. Jayawardene hit an unbeaten 108 and Dilshan smashed 92 off 72 balls in his new role as opener as Sri Lanka, sent in to bat […]
Sri Lanka rains flood 2,000 shelters at camp: UN
August 18, 2009 (AFP) – Heavy rains flooded nearly 2,000 makeshift shelters housing Sri Lankan Tamil war refugees detained by the government, the United Nations said Tuesday, raising concerns about their health. The strong rains last weekend lashed the northern Vavuniya district where over 250,000 people displaced during the final stages of the ethnic conflict […]
‘s image: opposition
August 17, 2009 (AFP) – Sri Lanka risks further damage to its image by failing to improve conditions for tens of thousands of war-displaced people held in squalor, the island’s main opposition leader said on Monday.Opposition leader and former premier Ranil Wickremesinghe warned that the spread of diseases in the camps during the current rains […]
Sri Lanka central bank holds policy rates steady
Aug 18, 2009 (LBO) – Sri Lanka’s central bank held policy rates steady at 11.00 percent for the second straight month saying market interest rates were falling, inflation is bottoming out but expected to remain at single digits in 2009.“As in other parts of the world, in Sri Lanka too, inflation is expected to rise […]
Sri Lanka budget deficit expands at a slower pace in May 2009
Aug 18, 2009 (LBO) – Sri Lanka’s runaway budget deficit expanded at a slower pace in May 2009, though the gap in the current account widened to a new record, the latest official data show. The revenue or current account deficit of the budget, which is the difference between total revenues and current (day-to-day) expenses, […]