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Mobile Payments
Feb 28, (LBO) – Sri Lanka’s state-run Bank of Ceylon has tied up with an Indian mobile commerce firm to start a text message based electronic payment system that could overtake credit card transactions, officials said. Bank of Ceylon’s new service allows its six million customers to use pay shops that join the system at […]
Education Reform
Feb 28, 2008 (LBO) — Sri Lanka will teach arts and commerce subjects for pre-university students in English from this year, a senior government minister said. Sri Lanka’s cabinet of ministers had approved a proposal by education minister Susil Premajayantha to start English medium instruction at 50 schools this year, information minister Anura Yapa said. […]
Sri Lanka air travellers to get online benefits
Feb 28, 2008 (LBO) – Sri Lankan travellers reserving tickets through Emirates’ newly commissioned online booking portal, can win free win tickets until the end of March, the company said. Emirates contest website The promotion which is valid till end of March, requires travellers to book their seats on-line on Emirates operated flights. “We have […]
Sri Lanka activated carbon maker eyes Asian face mask market
Feb 28, 2008 (LBO) – Sri Lankan coconut-shell-based activated carbon maker Haycarb says it plans to sell face masks in overseas markets in Asia with dense populations and growing air pollution problems. Haycarb managing director Ananda Hettiarachchy said the masks, developed for use by Sri Lankan urban and rural consumers, had become “quite popular” and […]
Vietnam cuts fuel subsidies after 15-pct inflation
HANOI, Feb 28, 2008 (AFP) – Vietnamese consumer prices rose more than 15 percent year-on-year in February, according to official figures released Thursday, heightening inflation concerns especially for the poor. The General Statistics Office (GSO) said the consumer price index (CPI) for February rose 15.67 percent compared to the same period last year. The figure […]
Ailing dollar falls to all-time low against euro on Fed readiness to print
NEW YORK, Feb 27, 2008 (AFP) – The dollar slumped to an all-time low against the euro Wednesday as Federal Reserve chairman Ben Bernanke said the US central bank was prepared to cut interest rates further to ward off a severe economic slump.The US currency was quoted at 1.0630 Swiss francs, down from 1.0752. The […]
US regulator to allow two mortgage finance firms to buy more
WASHINGTON, Feb 27, 2008 (AFP) – A US regulator on Wednesday said it would lift mortgage portfolio limits on two government-backed companies, raising the prospects of increased capital for the distressed housing market. Shares in Fannie Mae and Freddie Mac rallied after the government removed the size restrictions on their portfolios, but subsequently lost steam. […]
Nine die in Sri Lanka fighting
Feb 28, 2008 (AFP) – Two bombs left at least eight civilians dead in guerrilla-held territory in northern Sri Lanka, Tamil rebels said Thursday as the defence ministry reported killing nine militants.Casualty figures provided by both sides differ vastly and cannot be independently verified. The government bars journalists and human rights workers from front line […]
Petrol Performance
Feb 27, 2008 (LBO) – Lanka IOC has made a net profit of 282 million rupees for the December quarter compared with a loss of 327 million rupees in the same period last year. However, the profit was much lower than the 677 million rupees the company, a unit of Indian Oil Corp., earned during […]
Sri Lanka treasury bills yields ease
Feb 27, 2008 (LBO) — Sri Lanka’s treasuries yields edged lower at Wednesday’s auction with the 3-month yield falling 11 basis points to 18.48 percent, the government’s debt office said. The 6-month yield fell 03 basis points to 18.97 percent and the 12-month yield fell 06 basis points to 19.04 percent. The government raised 5.9 […]