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Sri Lanka rupee gains to 112.90 against greenback after limit cut
Dec 30, 2008 9LBO) – The Sri Lanka rupee rose to 112.90/113.00 levels after the Central Bank cut overnight trading positions of banks, dealers said.The spot dollar opened around 113.60/80 levels Tuesday. The rupee edged towards 113.80/114.00 levels Monday. Overnight rates in the inter bank market was around 13.00/13.50 with excess liquidity at most banks, […]
Sri Lanka Seylan Bank up sharply on takeover expectations
Dec 30, 2008 (LBO) – Sri Lankan stocks continued to weaken Tuesday but Seylan Bank shares shot up almost 29 percent on anticipation of a takeover after it was placed under a state-owned bank when depositors began withdrawing funds. The All Share Price Index eased 0.79 percent (11.85 points) to 1,484.53 while the Milanka lost […]
Traffic Jam
Dec 30, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) has completed dredging of the northern entrance to Colombo port, senior SLPA officials said. Port users have said such navigation restrictions cause congestion in the harbour, resulting in delays in cargo handling and turning around container ships. The SLPA has tested sonar systems to […]
New Call
Dec 30, 2008 (LBO) – Evergreen Line has said it has introduced a new feeder service with Singapore-based Sea Consortium linking Sri Lanka’s Colombo port with ports in India and Pakistan. A statement from the shipping line, operated by Taiwan’s Evergreen Marine Corporation, said the Arabian Express Service (ASX) offers a weekly rotation. The ships […]
Web Pay
Dec 30, 2008 (LBO) – Sri Lanka’s Commercial Bank said it has extended its ‘Paymaster’ online payment facility to handle Employees’ Trust Fund (ETF) retirement benefit fund payments. The web-enabled Paymaster enables monthly contributions and surcharges and upload of monthly member contribution details for the convenience of employers, the bank said in a statement. This […]
Trade Halt
Dec 30, 2008 (LBO) – Sri Lanka’s Seylan Bank trade halt was removed at 12.45 pm Tuesday following clearance from the Colombo Stock Exchange (CSE) and Securities and Exchange Commission (SEC). Seylan Bank shares opened trading Tuesday at 19.50 rupees, up 3.75 rupees from the previous close on December 24. Their was no trading on […]
New Pilots
Dec 30, 2008 (LBO) – Three new directors has been appointed to Sri Lanka’s Seylan Bank, which was put under the control of a state bank by the monetary board, a media report said. Experienced banker E Narangoda, who was earlier at state-run National Savings Bank had been appointed chairman, The Island newspaper said. Lalith […]
Sri Lanka tea industry hopes for better prices in January
Dec 30, 2008 (LBO) – Sri Lanka’s tea market is expected to recover somewhat early next year with a long break in the Colombo auctions and production shortfalls in other origins keeping demand buoyant, officials said. The slowdown in tea exports from African origins is also expected to keep demand buoyant. Tea output in Kenya, […]
Ex-PM Sheikh Hasina wins Bangladesh poll: officia
DHAKA, December 30, 2008 (AFP) – Former Bangladeshi premier Sheikh Hasina Wajed has won a landslide victory in general elections, with her party picking up more than 75 percent of seats, an Election Commission official said Tuesday.Commission spokesman S.M. Asaduzzaman told AFP that votes in 295 of the 299 seats had been counted, and Sheikh […]
Sri Lanka mulls banning Tigers as fighting escalates
December 30, 2008 (AFP) – Sri Lanka’s government met Tuesday to consider re-imposing a formal ban on the Tamil Tigers as fighting escalated in the island’s north, official sources said.An original ban on the Liberation Tigers of Tamil Eelam (LTTE) was lifted in September 2002 ahead of a Norwegian-backed peace process, which collapsed when President […]