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Rail Loan
July 23, 2008 (LBO) – Sri Lanka has inked a deal with India’s Export-Import Bank of India to borrow 100 million US dollars to upgrade a coastal rail track and buy rolling stock, the island’s finance ministry said. A credit agreement for 100 million US dollars was signed between finance ministry secretary P B Jayasundera […]
Sri Lanka tea output grows by over 18 pct
July 23, 2008 (AFP) – Sri Lanka’s tea production rose by 18.2 percent to 171.3 million kilograms (376.9 million pounds) during the first half of this year, the Sri Lankan Tea Board said Wednesday. Production in June was 27.3 million kilograms, up 16.2 percent from the 23.5 million kilos during the same month last year. […]
Dashboard View
July 23, 2008 (LBO) – Sri Lankan firms can gain more benefits by choosing software that is flexible to match the size and growth of a company and can be easily customized, a software vendor has said.Zillione Systems which launched Sage AccPac 5.5 for local customers this month, says the ERP (enterprise resource planning) accounting […]
Sri Lanka capital to get direct link to Dhaka with Best Air
July 23, 2008 (LBO) – Best Air, a private Bangladeshi carrier, will start direct flights from Dhaka to the Sri Lankan capital Colombo catering to growing traffic between the two countries, an official said. Best Air chairman Haider Uzzaman said they plan to start with two flights a week to Colombo and Male on Fridays […]
India will not give ground in industrial field: Nath
GENEVA, July 23, 2008 (AFP) – India hinted on Wednesday that it is prepared to see WTO talks founder if rich countries do not take big strides towards developing countries on industrial issues.Indian Commerce Minister Kamal Nath warned that talks on a global trade deal at the World Trade Organization could founder if developed nations […]
Australian inflation rises to 4.5 percent
SYDNEY, July 23, 2008 (AFP) – Australia’s annual inflation rate jumped to 4.5 percent in June, official data showed Wednesday, as Treasurer Wayne Swan warned of the toughest economic conditions in 25 years. The increase from 4.2 percent over the year to March had taken inflation to its highest level since late 1995, excluding a […]
US bank Wachovia scorched with US$8.7bn loss
NEW YORK, July 22, 2008 (AFP) – Banking giant Wachovia took a hit from the US housing slump with a quarterly loss announced Tuesday of 8.662 billion dollars but its shares surged as it unveiled job cut and other steps to shore up its finances. The loss amounted to 4.20 dollars per share, far above […]
”s attack at bay
July 23, 2008 (AFP) – Sri Lankan opener Malinda Warnapura defied India’s attack with an unbeaten half-century on the opening day of the rain-hit first Test here on Wednesday. India captain Anil Kumble also pressed Sourav Ganguly and off-spinner Harbhajan Singh into the attack in a bid to get one more wicket, but Warnapura and […]
Sri Lanka business chamber to form broad alliance for peace
July 23, 2008 (LBO) – The private sector of Sri Lanka must join together to work towards ending the conflict to attain peace and development, the newly appointed chairman of the Ceylon Chamber of Commerce (CCC) said. The 25-year ethnic conflict has affected the trade and commerce sector and slowed down the country’s growth, said […]
Sri Lanka stocks slump; losses in JKH, Janashakthi Insurance
July 22, 2008 (LBO) – Sri Lankan shares slumped 1.76 percent Tuesday, dragged down by losses in heavyweights like John Keells Holdings (JKH), as investors digested the news about a court ruling against the conglomerate’s lucrative bunker business.Debutant Janashakthi Insurance fell further as did several index-heavy stocks. The All Share Price Index shed 41.94 points […]