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Sri Lanka launches probe into mystery poster campaign
March 28, 2008 (AFP) – Sri Lanka Thursday launched a probe into a mystery poster campaign that is asking would-be Tamil Tiger suicide bombers to turn themselves in to government hands in return for cash.The campaign, run by an unknown pro-peace organisation, was urging extremists to change their minds in exchange for a new life […]
Sri Lanka economy expands 6.8 percent in 2007
Mar 28, 2008 (LBO) – Sri Lanka’s economy expanded 6.8 percent in 2007 against 7.7 percent in 2006, but in the fourth quarter growth accelerated to 7.6 percent from 7.4 percent in the same period last year, government data showed. Head of Statistics Suranjana Vidyaratne said industry grew by 7.6 percent, services by 7.1 percent […]
‘s high risk dams to be made safer
Mar 28, 2008 (LBO) – Sri Lanka is getting a 65.3 million US dollar credit from the World Bank to improve the safety at high risk dams and boost water resources planning capacity in the island, the multilateral lender has said. The project will cover 80 dams of which 32 are considered high risk. The […]
”and reduce prices
Mar 28, 2008 (LBO) – Sri Lanka has removed a special tax on rice and allowed any private trader to import rice, the information ministry said as the government tried to import ‘deflation’ in to the country. . “With the intention of easing the burden of the people, the Government has decided to sanction the […]
Sri Lanka stocks end flat with SLT still drawing buying interest
March 27, 2008 (LBO) – Sri Lankan stocks closed flat with trading dominated by Sri Lanka Telecom and two blocks of John Keells Holdings which boosted turnover, brokers said. The All Share Price Index ended down 1.25 points at 2,548.31 while the Milanka, which tracks the more liquid stocks, closed down 13.13 points at 3,177.57. […]
Payment System
March 27, 2008 (LBO) – The SAARC Payments Initiative (SPI), enabling a more efficient payment mechanism among south Asian countries, is to be launched in Colombo tomorrow, the Sri Lanka Central Bank said Thursday. The initiative will upgrade the region’s payment systems to international standards and help promote trade and investment in south Asia, a […]
Equity Hedge
Mar 27, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance said it was on track for a public listing after recording profits of 525 million rupees in 2007, with strong results from general insurance and investment income boosting the bottom line. The firm’s total revenue with investment income rose to 5.2 billion rupees from 4.7 billion […]
Sri Lanka tourism industry has bounce-back capacity: officials
Mar 27, 2008 (LBO) – Sri Lanka’s tourism industry has the capacity to bounce back, officials who returned from a travel fair in Germany after spreading the message that island is safe for foreign visitors, said. “Right now we are going through a bit of a slow down,” Hiran Cooray, the Managing Director of Jetwing […]
‘s Hayleys in high value farming
Mar 27, 2008 (LBO) – The United States Agency for International Development (USAID) is teaming up with Sri Lanka’s Hayleys group to lift rural subsistence farmers into commercial high value agriculture, the US embassy in Colombo said. The first pilot project will start in April involving 120 farmer families in two of Sri Lanka’s poorest […]
Sri Lanka Janashakthi Insurance to sell 16.5mln shares at Rs12
Mar 27, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance is planning to sell 16.5 million shares priced at 12 rupees a share through an initial public offer to raise 198 million rupees, an official said. . The company has called a special meeting of its existing shareholders this Friday seeking approval to start the public […]