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Sri Lanka central bank to clean up data act under IMF program
July 26, 2009 (LBO) – Sri Lanka’s central bank will improve data reporting following the approval of a 2.6 billion US dollar facility by the International Monetary Fund, a loan document released by the monetary authority said. IMF sent a ‘safeguards assessment’ mission to the central bank in May to ensure that its funds could […]
Court Block
July 25, 2009 (AFP) – A Sri Lankan court has ordered a dozen websites to be blocked for allegedly containing pornographic material involving local women and children, a press report said Saturday.The Telecommunications Regulatory Commission (TRC) was asked to block access to the 12 websites, including redtube.com, an adult-content sharing portal, the Lankadeepa newspaper said. […]
Tech Venture
July 25, 2009 (LBO) – Sri Lanka’s Aitken Spence had formed a company to develop hotel sector software, California Software Company Limited (Calsoft), a Bombay listed Indian information technology firm has said. The company will develop software targeting businesses operating in the hospitality industry at first. The joint venture firm named ‘CalSpence’ will have its […]
Sri Lanka gets US$2.6bn from IMF on tight budget, rupee flexibility
July 25, 2009 (LBO) – The International Monetary Fund has approved a 2.6 billion US dollar loan to Sri Lanka with a 322 million dollar tranche being immediately disbursed on a program that is aiming to keep the budget deficit at 7.0 percent of the economy. The IMF said a combination of short term foreign […]
Sri Lankan stocks up 4.0-pct during week
July 24, 2009 (LBO) – Sri Lankan shares gained on Friday as foreign investors pushed up trading volumes especially on selected blue chips such as John Keells Holdings (JKH) and banking counters, brokers said.Dialog Telekom a unit of Telekom Malaysia closed flat at 5.25 rupees. “Further improvement in activity level was seen due to the […]
Daft Draft
July 24, 2009 (LBO) – Sri Lanka’s draft national transport policy came in for strong criticism at a public forum by experts who said it ignored important modes of private transport and private sector investment. Rohan Samarajiva, head of LirneAsia, a regional think tank, said the policy was also silent on opportunities in rebuilding transport […]
Sea Links
July 24, 2009 (LBO) – Sri Lanka plans to propose reviving ferry services and a railway link with India, across the Palk Straits, at a conference of south Asian transport ministers in Colombo, the island’s transport ministry said.The two proposals will be put forward by the government during a meeting of transport ministers of the […]
Knowledge Work
July 24, 2009 (LBO) – Sri Lanka’s software industry said a survey of export earnings indicates it had grown rapidly in a short period and had high levels of revenue per employee and return on capital employed. “The industry is based on knowledge workers and creates high paying jobs for educated youth. IT/BPO industry is […]
Easy Chats
July 24, 2009 (LBO) – Sri Lanka Telecom said it won a contract to provide communications to the island’s Ministry of Science and Technology and 300 technology transfer centres that include free voice calls within the network. The deal includes supply communications services to technology institutes and research and development centres under the ministry, SLT […]
Gamata IT
July 24, 2009 (LBO) – Microsoft Sri Lanka said it had begun a drive to make information technology popular in rural areas, with a local language interface, free software downloads and training. Microsoft and its partner organization would also support trading in Sinhalese and Tamil languages. Training literature would also be made available. A school […]