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Pakistan in deep trouble after batting collapse
July 14, 2009 (AFP) – Sri Lanka engineered a spectacular Pakistan batting collapse on the third day to wrest control of the second Test at the P. Sara Oval here on Tuesday. The last three batsmen were leg-before in quick succession. The dramatic collapse undid Pakistan’s remarkable fightback in the match after they were shot […]
‘s foreign reserves up in May
July 13, 2009 (LBO) – Sri Lanka’s gross foreign reserves, without an advance to domestic banks, rose to 1,291 million US dollars in May 2009 from 1,131 million US dollars in April, the latest official data showed.With a 145 million US dollar deposit at a domestic bank, gross monetary and fiscal reserves went up to […]
Sri Lanka bonds volatile after rate freeze
July 13, 2009 (LBO) – Three year bond yields edged up slightly Monday as the central bank froze its policy rate at 11.00 percent, but fell back in late trading dealers said, while yields at an auction also stayed steady. The government’s debt office which is a unit of the central bank said it sold […]
Sri Lankan shares close up 0.24-pct
July 13, 2009 (LBO) – Sri Lankan stocks closed up Monday as retailers cautiously re-entered the market focusing on selected hotel and banking stocks, while institutional and high net-worth individual investors stayed away, brokers said. The All Share Price Index rose 0.24 percent (5.78 points) to end at 2,368.87 while the Milanka index of more […]
Shipping Forum
July 13, 2009 (LBO) – Sri Lanka is to host a meeting of Asian shippers in Colombo, a conference made possible after 15 years of lobbying because of the end of the ethnic war, the Sri Lanka Shippers’ Council (SLSC) said. The meeting is expected discuss policy issues, maritime security, shipping costs like terminal handling […]
Northern Loan
July 13, 2009 (LBO) – Sri Lanka’s central bank is giving three billion rupees to several banks to lend to small and micro businesses in agriculture and fisheries and in the war-torn north of the island. Following the end of fighting with Tamil Tiger separatists in May, Kilinochchi and Mullaitivu have been largely depopulated and […]
Best Bank
July 13, 2009 (LBO) – HSBC said it had been named the ‘Best Global Bank, by Euromoney magazine, in its 2009 awards.It also won the Best Global Debt House and Best Global Transaction Banking House, awards. Michael Geoghegan, group chief executive of HSBC said in a statement that winning award during the turmoil was not […]
Outsourcing
July 13, 2009 (LBO) – India’s Quatrro BPO Solutions said it is considering moving more business process outsourcing work to Sri Lanka and that productivity concerns raised by its chairman Raman Roy were limited to certain processes.“We are in active discussions to move more processes to Sri Lanka and Quatrro continues to be a strong […]
‘s next outsourcing boom: comedy
MUMBAI, July 13, 2009 (AFP) – In 1979, Don Ward opened a small club in London to provide a stage for the best of Britain’s undiscovered comic talent.After 30 successful years, he now wants to do the same in India. Ward is taking The Comedy Store out of Britain for the first time, opening a […]
Sri Lanka May 2009 clothing exports fall, tea shipments up
July 13, 2009 (LBO) – Sri Lanka’s May 2009 export earnings fell 27.8 percent to 538.5 million US dollars from year ago, mainly because of lower clothing exports, although tea exports went up, the Central Bank said. Imports of consumer goods fell by 41.2 percent to 140 million US dollars, largely on account of lower […]