All Blogs
Slow Down
Nov 23, 2007 (LBO) – People’s Merchant Bank (PMB) net profit for the September quarter fell 13 percent year-on-year to five million rupees, according to interim results sent to the Colombo bourse. Total income increased 26 percent to 90 million rupees in the same period. But net interest income was up only 10 percent to […]
Sri Lankan spice trade seeks to entice corporate sector
Nov 23, 2007 (LBO) – Sri Lankan spice producers are urging the government to get big corporate plantations companies to grow more spice crops to meet growing global demand. “There is a need to grow more spices for export to the global markets,” the Spices and Allied Products Producers and Traders’ Association (SAPPTA) said in […]
Forward Look
Nov 23, 2007 (LBO) – A manufacturing industry group has organized a forum on Sri Lanka’s monetary developments in a bid to understand what could happen in the future. “Many business enterprises are unsure about the future and wish to understand future scenarios in order to plan their future strategies, take advantage of possible opportunities […]
Seabed project reveals earthquake, tsunami clues: scientists
TOKYO, Nov 23, 2007 (AFP) – An ambitious international project to dig deeper into the Earth’s surface than ever before has made a good start with scientists saying they have gained clues about how large earthquakes and tsunami occur. The deep-sea drilling project is a part of the 21-nation Integrated Ocean Drilling Program, which is […]
Commonwealth suspends Pakistan for emergency rule
KAMPALA, Nov 22, 2007 (AFP) – A Commonwealth ministerial committee Thursday decided to suspend Pakistan from the 53-nation bloc pending the return of the rule of law following the imposition of emergency earlier this month. The CMAG comprises Britain, Canada, Lesotho, Malaysia, Malta, Papua New Guinea, St Lucia, Sri Lanka and Tanzania. A Commonwealth heads […]
‘s suspension of Pakistan
Nov 23, 2007 (AFP) – Sri Lanka Friday strongly objected to the Commonwealth’s decision to suspend emergency-ruled Pakistan despite having earlier supported the move.President Mahinda Rajapakse expressed “strong objections of Sri Lanka at the decision taken to suspend Pakistan from membership of the Commonwealth at the Commonwealth Heads of Government Meeting,” his office said in […]
Sri Lankan demands withdrawal of UNICEF staff
Nov 23, 2007 (LBO) – Sri Lankan has demanded the withdrawal of members of the international staff of the United Nations Children’s Fund (UNICEF) in Colombo who had taken part in a public demonstration. A Foreign Ministry statement said Friday the demand was made at a meeting with UNICEF’s Country Representative at which it expressed […]
Sri Lanka says 17 Tamil Tigers killed in coastal raid
Nov 23, 2007 (AFP) – Sri Lankan forces killed at least 17 Tamil Tiger rebels on Friday repulsing a guerrilla attack on a police post in the northwest, the defence ministry said. . The Liberation Tigers of Tamil Eelam (LTTE) despatched seven boats to attack the Pesalai police post on the coast of Mannar district, […]
Sri Lanka tightens monetary policy; discount rate 19-pct from December
Nov 23, 2007 (LBO) – Sri Lanka has tightened monetary policy by restricting access to a discount window and creating two policy rates, days after the Central Bank again failed to hike rates, despite raging inflation.The Central Bank loosened monetary policy in April 2007 despite criticism from independent analysts and printed 45.2 billion rupees for […]
Sri Lanka sovereign bonds plummet as govt. seeks new cash
Nov 22, 2007 (LBO) – Sri Lanka’s maiden sovereign bond has plunged in the secondary market just a month after its issue, as authorities indicated that the country may go to international markets again for new dollars. The 500 million dollar sovereign bond which was issued in late on October 23, was oversubscribed. But now […]