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Japan urges Sri Lanka to engage international community
June 11, 2009 (AFP) – Japan on Thursday urged Sri Lanka to develop closer ties with the international community as Colombo tries to rebuild the war-battered north of the island after decades of bloody ethnic conflict.Akashi said international opinion was divided on the way the conflict with the Liberation Tigers of Tamil Eelam (LTTE) ended, […]
Sri Lanka bill yields edge lower
June 10, 2009 (LBO) – Sri Lanka’s Treasury bills yields edged marginally lower as the government sold 4.5 billion rupees of maturing bills to the market at Wednesday’s auction, the debt office said. However selling down the T-bill stock to lock up foreign reserves also puts pressure on interest rates.The 3-month yield fell to 03 […]
Sri Lankan stocks up, investors buy blue chips
June 10, 2009 (LBO) – Sri Lankan shares closed up Wednesday as retail investors moved back to safe stocks from speculative counters, while tycoon Harry Jayawardena controlled Aitken Spence continued its bull-run, brokers said. “Investors who walk into the market should at least look at a three month investment horizon, as at present levels the […]
Sri Lanka Finlay teas sell well in Iraq
June 10, 2009 (LBO) – Sri Lanka’s James Finlay group said tea exports to Iraq did well in 2008 despite the strife and that it expanded its marketing and launched a new product with higher profit margins. Jayasuriya said the company took advantage of the oil price boom of 2007-08 which increased consumer spending in […]
Chamber Award
June 10, 2009 (LBO) – A regional Sri Lankan business chamber has won a top global award for its work after the 2004 Indian Ocean tsunami, in a competition which had entries from 33 countries, the organization said. The member services of the Hambantota chamber, job placement and information technology had also been improved. The […]
Maldives declares whale shark sanctuaries
June 10, 2009 (LBO) – Maldives has established three protected areas for whale sharks, the world’s largest fish, the Indian Ocean atoll state which is famed for its corals and marine resources, said. The marine protected areas have been declared in and around Baa atoll Hanifaru, Baa atoll An’gafaru and South Ari atoll Maamigili, to […]
Sri Lanka to get AirAsia low fare flights
June 10, 2009 (LBO) – AirAsia said it will launch daily flights from Sri Lanka from August 15 offering promotional all-in fares as low as 4,090 rupees one way between Colombo and Kuala Lumpur. The Malaysia-based carrier, known as Asia’s largest low fare, no frills airline, said Colombo is an important destination for AirAsia to […]
Pakistan survive, South Africa squeeze past Kiwis
LONDON, June 9, 2009 (AFP) – Pakistan avoided following Australia out of the World Twenty20 on Tuesday while South Africa hammered home their position as favourites by successfully defending the format’s lowest ever total.Pakistan, the runners-up at the 2007 championship, had been defeated by England in their opening match and needed to beat the Netherlands. […]
Sri Lanka detains Canadian MP: officials
June 10, 2009 (AFP) – A Canadian MP was detained on arrival at Sri Lanka’s international airport on Wednesday and could be deported for allegedly having supported the Tamil Tiger rebels, officials said.Bob Rae, a Liberal member of parliament and outspoken critic of the Sri Lankan military’s offensive against the rebels, was stopped at Bandaranaike […]
Sri Lanka ruling party popularity could help budget: S&P
June 10, 2009 (LBO) – The electoral popularity of President Mahinda Rajapaksa could help improve Sri Lanka’s budget by reducing the clout of smaller extremist parties, Standard & Poor’s rating agency has said. “With slowing growth, sharply falling imports and much lower inflation, official revenue goals and the deficit target of 7.5 percent of GDP […]