All Blogs
Sri Lanka tea crop falls sharply in March
April 30, 2009 (LBO) – Sri Lanka’s total tea production in March 2009 fell 44 percent to 18.2 million kilos from a year ago owing to drought and reduced crops, the Tea Board said. Tea output in the January-March 2009 period was down 41.6 percent to 48.8 million kilos from 83.5 million kilos in the […]
Sri Lankan tea prices up
April 30, 2009 (LBO) – Sri Lankan tea prices rose again at this week’s auction, propelled by the weakening rupee and strong demand from the Middle East, brokers said.“Teas in the higher priced bracket continued to decline further following quality whilst the neat leaf coloury teas showed a firming up of prices. Poor leaf teas […]
Sri Lanka dismisses critics, vows to crush Tigers
April 30, 2009 (AFP) – Sri Lanka’s president on Thursday ruled out halting the military’s offensive against the Tamil Tigers, and warned the rebels that they must give up or be killed.“We have no plans to go for a ceasefire with the Tigers, but they have a little time left to drop their weapons and […]
Volatile Prices
April 30, 2009 (LBO) – Sri Lanka’s two liquid petroleum gas suppliers, a unit of multinational Shell Gas, and the locally owned Laugfs Gas, said they will raise prices from midnight Thursday.It said prices were cut in November 2008 and January 2009 because of lower import costs. “Import costs for February and March 2009 have […]
Sri Lanka begins re-settling war displaced
April 30, 2009 (AFP) – About 400 Sri Lankan civilians returned home on Thursday two years after being forced to flee by fighting in the country’s ethnic conflict, the United Nations refugee agency said. Sri Lanka’s Disaster Management Minister Mahinda Samarasinghe said the government was hoping to resettle all Tamil civilians within a year as […]
Sri Lanka inflation slows to 2.9-pct in April
April 30, 2009 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo, in the 12-months to April slowed to 2.9 percent from 5.3 percent in March, with prices declining for the seventh straight month, the statistics office said.The Colombo Consumer Prices Index (CCPI) has been declining on an absolute basis from October after peaking at […]
Sri Lanka close to getting 15-year loan from Libya: CB Governor
April 30, 2009 (LBO) – Sri Lanka is close to finalizing a 500 million US dollar long-term loan from Libya, Central Bank governor Nivard Cabraal who is visiting the country for discussions on the government-to-government credit, said.In a telephone interview from Rome Thursday, Cabraal said Sri Lanka was negotiating a 15-year year loan with a […]
Sri Lanka hosts IMF team as loan deal nears
April 30, 2009 (LBO) – An International Monetary Fund (IMF) ‘Safeguards Assessment’ mission is in Sri Lanka as talks on a 1.9 billion dollar loan nears its final stages, the central bank said in a statement.“The Stand-By Arrangement (SBA) facility sought by the government of Sri Lanka from the IMF has now reached an advanced […]
Sri Lanka treasuries yields plunge
April 29, 2009 (LBO) – Yields on Sri Lanka’s treasuries plunged across the board at the weekly auction Wednesday with the 12-month yield falling 135 basis points to 14.05 percent, the government’s debt office said. The 6-month yield fell 95 basis points to 13.95 percent, and the 3-month yield fell 73 basis points to 12.65 […]
Sri Lanka shares up 1.5-pct, rupee steady
Apr 29, 2009 (LBO) – Sri Lankan stocks rebounded across the board Wednesday, as investor sentiment improved, while the rupee remained steady against the greenback, dealers said.Conglomerate JKH has interests in transport, finance, property development, retail and food processing sectors. Mobile giant Dialog Telekom, subsidiary of Telekom Malaysia, closed flat at 5.25, while fixed line […]