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China Plan
BEIJING, December 25, 2008 (AFP) – China has started filling tanks at its largest oil reserve, taking advantage of tumbling world crude prices, state media reported Thursday. The aim of the reserves is to guarantee supply in times of need as the nation’s a growing economy demands ever-more energy to fuel the factories that supply […]
Sri Lanka shares up, JKH trades boost volumes
Dec 24, 2008 (LBO) – Sri Lankan shares ended marginally higher Wednesday with heavy trading in John Keells Holdings boosting trading volumes, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index ended slightly higher, up 0.33 percent (4.93 points) to close […]
Harbour Moves
Dec 24, (2008) – The Sri Lankan government is trying to expedite a long-delayed project to call for private investors to build a new terminal in Colombo port, a senior ministry of ports and aviation official said.Ministry secretary Thosapala Hewage the attorney-general, the chief government legal officer, recently gave his opinion on the request for […]
Rate Spike
Dec 24, 2008 (LBO) – Sri Lanka’s rates spiked, despite excess liquidity and uncertainty heightened amid problems at a Ceylinco group company in a market that was already hurt by unpaid inter bank hedging contracts, dealers said.On Wednesday market excess liquidity rose to 10.6 billion rupees, though the central bank had lent 2.9 billion rupees […]
Northern Reach
Dec 24, 2008 (LBO) – Sri Lanka’s Commercial Bank said it would offer ‘Saturday banking’ services at its Nelliady branch in the northern Jaffna peninsula, once a hot-bed of Tamil Tiger insurgency. With effect from January 1, 2009, the branch located in MMV Road, Nelliady, will be open on Saturdays from 9.00 a.m. to 1.30. […]
Sri Lanka says 20 Tigers killed in fresh fighting
December 24, 2008 (AFP) – Sri Lankan security forces killed at least 20 Tamil Tiger rebels who were defending their political capital of Kilinochchi in the island’s north, the defence ministry said Wednesday.Troops captured the village of Sinna Paranthan, northwest of Kilinochchi, from the Liberation Tigers of Tamil Eelam (LTTE), the ministry said. “Over 20 […]
Volatile Price
Dec 24, 2008 (LBO) – The Sri Lanka unit of the Indian Oil Corporation, which slashed petrol prices in response to a Supreme Court order, raised the retail prices back to the earlier level of 122 rupees Wednesday. The entire capital budget of the government is also financed out of debt, and the government has […]
Sri Lanka southern businesses get IFC help
Dec 24, 2008 (LBO) – The International Finance Corporation (IFC), a member of the World Bank group, said it is helping streamline business licensing in Sri Lankan’s southern Matara district. The Matara Municipal Council and the IFC are making it easier for small businessmen to get licenses to start businesses, an IFC statement said. It […]
Sri Lanka rupee dips to 112.80/90 against greenback
Dec 23, 2008 (LBO) – Sri Lanka rupee weakened towards 112.80/90 against the US dollar, with state banks on the buying side, dealers said Tuesday, as inter bank rupee markets remained liquid.Analysts say excess liquidity amid dollar tightness is usually a sign that the government is in a cash crunch. The latest official data shows […]
Sri Lanka shares down, trading dries up
Dec 23, 2008 (LBO) – Sri Lankan shares continued to weaken Tuesday with trading volumes staying near six-year lows and Ceylinco group firms showed mixed performance, with Ceylinco Insurance closing up, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index eased […]