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Sri Lanka researchers told of dangers of romanticism
Dec 12, 2008 (LBO) – Researchers in Sri Lanka and elsewhere should not be guided by romanticism but approach an issue with an open mind and be prepared to change traditional ideas if their findings suggest otherwise, a top economist has said. Papers from Indian and Pakistani researchers as well as those from Sri Lanka […]
Sri Lanka October official reserves US$2.37bn
Dec 11, 2008 (LBO) – Sri Lanka’s foreign reserves had fallen to 2,374 million US dollars by the end of October from 3,185.4 million dollars in September the Central Bank said amid heavy intervention in forex markets. In October the central bank spent 587.70 million dollars intervening in the market, but November intervention volumes which […]
Sri Lanka rupee allowed gradual depreciation: central bank
Dec 11, 2008 (LBO) – Sri Lanka’s central bank says it is allowing a “gradual depreciation” of the rupee, after staying out of the market in early trading on Thursday, as the rupee dipped against the US dollar and recovered. “The central bank is not quoting so far, and the market is quoting on its […]
Sri Lanka rupee slides to 111.00 against green back
Dec 11, 2008 (LBO) – The Sri Lanka rupee traded at 111.00 rupees to the dollar Thursday with the market two way quote now at 111.00/30, with no official intervention in early trade, dealers said. “We have allowed a gradual depreciation of the rupee,” Central Bank chief economist Nandalal Weerasinghe said.“Other currencies have also depreciated […]
Sri Lanka shares close down 0.4%, rupee at at 111.30 against USD
Dec 11, 2008 (LBO) – Sri Lankan stocks lost closed 0.48 percent lower losing slim gains made a day earlier, while the rupee closed at 111.30/45 against the greenback in a day that saw no central bank intervention, dealers said. The All Share Price Index lost 0.48 percent (7.53 points) to end at 1,561.38 points […]
Sri Lanka in ADB-funded regional tourism effort
Dec 11, 2008 (LBO) – Sri Lanka is among five countries included in an Asian Development Bank (ADB) funded plan to promote south Asian regional tourism and simplify cross-border tourist movements.“Together with the investment project, the technical assistance will enhance the positioning of the sub-region in both intraregional and international markets as one of the […]
Emirates to use polar route in fuel saving flight
Dec 11, 2008 (LBO) – Emirates Airline plans to launch a non-stop direct flight from Dubai to San Francisco in the United States using a polar route to test ways to save fuel and reduce harmful carbon emissions.Emirates said in a statement it worked closely with government agencies in Dubai, Russia, Iceland, Canada and the […]
Sri Lanka listed for GSP+ extension subject to probe outcome
Dec 11, 2008 (LBO) – The European Commission has listed Sri Lanka among countries to which it is extending from next year the GSP Plus duty free trade deal but subject to the eventual outcome of an eligibility probe. Trade experts said the listing, which had earlier been expected only by December 15, means Sri […]
Sri Lanka October exports up 6-pct
Dec 11, 2008 (LBO) – Sri Lanka’s export earnings in October grew 5.9 percent to 661.2 million US dollars from a year ago led by agriculture and apparel, recovering from a fall in September, the Central Bank said.Growth in imports slipped below 20 percent in October for the first time in 2008 after several months […]
‘s Mendis ruled out of Bangladesh Tests
December 11, 2008 (AFP) – Sri Lanka’s spin sensation Ajantha Mendis will miss the upcoming two-Test series in Bangladesh due to an ankle injury, the country’s cricket board said on Thursday.Mendis will be replaced by left-arm spinner Rangana Herath for the Test series starting on December 26, Sri Lanka Cricket (SLC) said. He suffered the […]