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”’ flow slowing: report
BEIJING, August 15, 2008 (AFP) – Foreign exchange deposits into Chinese banks in July dropped to 5.6 billion dollars, down by nearly half from June, state media reported, indicating the flow of “hot money” into China is slowing. The level of new foreign exchange deposits was lower than last month’s 8.3 billion dollars in direct […]
Sri Lanka industrial exports plunge in June
Aug 15, 2008 (LBO) – Sri Lanka’s industrial exports plunged 9.3 percent in June 2008, with the key apparel sector slumping 8.9 percent, though total exports for the first six months still showed positive growth. “In fact, I cannot recall a time where I have seen such a striking dichotomy between global commodity and credit […]
Sri Lanka says South Asia should cross-invest forex reserves
Aug 15, 2008 (LBO) – South Asian nations should look at re-investing foreign exchange reserves in each others’ countries instead of buying low yielding securities in developed nations, Sri Lanka’s central bank governor Nivard Cabraal said.“Our foreign reserves are bridging the fiscal deficit of developed countries at low rates,” Governor Cabraal told a gathering of […]
Sri Lanka 3-month treasury yield falls
Aug 14, 2008 (LBO) – Sri Lanka’s 3-month Treasury bill yield fell 36 basis points to 16.73 percent with some bids being rejected, the government’s debt office said.Other bids were rejected. The 6-month yield fell 7 basis points to 18.37 percent with the government raising 2.1 billion rupees and the 12-month yield was flat at […]
Sri Lanka stocks pulled down by fall in Dialog
Aug 14, 2008 (LBO) – Sri Lankan stocks lost more ground Thursday, dragged down mainly by the fall in the price of heavyweight Dialog Telekom after it reported sharply lower profit for the June quarter, brokers said. The All Share Price Index closed down 0.65 percent (15.98 points) at 2,435.25 while the more liquid Milanka […]
Coin Issue
Aug 14, 2008 (LBO) – Sri Lanka will issue special coins commemorating the runner-up of the last cricket world cup, an official said.Sri Lanka’s central bank will issue a Nickel plated steel coin with a denomination of 5 rupees and depicting a bowler. A brass plated steel coin with a face value of 1,000 rupees […]
‘s Hikkaduwa tourist hotspot chockfull at beach fest
Aug 14, 2008 (LBO) – A beach festival in Sri Lanka’s Hikkaduwa coastal tourist town has filled up hotels to full capacity and set the stage for an annual event that will attract young people from the region, the island’s tourism authorities said. Managing Director of Sri Lanka Tourism Promotions Bureau Dileep Mudadeniya says more […]
Registered Therapy
Aug 14, 2008 (LBO) – Sri Lanka’s ministry of indigenous medicine and the tourist board plan to give formal training to employees of massage parlours and health centres to improve their image and standardize their services. Authorities have set up a centre where practioners would be trained and certified in massage as well as eastern […]
Sri Lanka fighting forces tens of thousands to flee: ICRC
August 14, 2008 (AFP) – Tens of thousands of people are on the run in northern Sri Lanka where fighting between government troops and Tamil rebels has intensified in recent weeks, the Red Cross said Thursday.Some of the displaced who have headed to the Tamil Tigers’ political capital, Kilinochchi district, had been on the run […]
Sri Lanka eastern Trincomalee town faces power outage
Aug 14, 2008 (LBO) – Sri Lanka’s eastern port town of Trincomalee is facing a power outage after a high tension line feeding the area was hit by a freak weather, a senior official of the island’s power utility said.Sri Lanka’s national grid is operated by the state-run CEB, which distributes most of the island’s […]