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Sri Lanka to re-build areas taken from Tamil Tigers
July 13, 2007 (AFP) – Sri Lanka announced Friday it would mark the fall of the last Tamil rebel bastion in the east of the island with the launch of an ambitious reconstruction plan. Sri Lanka’s 35-year-old conflict has claimed more than 60,000 lives, and over 5,200 people have been killed in fighting in the […]
Sri Lanka unemployment rate falls
June 12, 2007 (LBO) – Sri Lanka’s unemployment rate in the first quarter of 2007 fell to 6.2 percent, its lowest ever rate, from 6.8 percent in the same 2006 quarter, continuing the steady declining trend seen in recent years, the Central Bank said. The total number unemployed was estimated as 462,000 for the first […]
Sri Lanka shops for 400 million dollars as rupee dips to new low
June 12, 2007 (LBO) – Sri Lanka is shopping for 400 million dollars in medium term finance in global markets as a rising budget deficit is sending local interest rates rocketing up and the rupee fell to a new life low, bankers said. “Sooner or later it is going to blow up.” The Central Bank, […]
Sri Lanka seeks 400 million dollars
June 12, 2007 (LBO) – Sri Lanka has asked for proposals from international banks to raise 400 million dollars in medium term bonds, banking officials said.Banks that participated in a conference yesterday in Colombo have been given until July 16 to submit proposals with the deal expected to reach closure by October. The government is […]
Sri Lanka treasury auctions resume
July 12, 2007 (LBO) – Sri Lanka has accepted a small amount of bids from this week’s treasury bills after rejecting bids outright for two weeks in a row, data released by the public debt office showed. The government accepted 1.1 billion out of an auction of 11.3 billion rupees of maturing treasury bills.The bills, […]
Body Check
July 11, 2007 (AFP) – An Etihad Airways plane en route from Indonesia to the United Arab Emirates made an emergency landing in Sri Lanka Wednesday following a bomb scare, an airport official said. Flight EY-471 from Jakarta to Abu Dhabi was diverted to Colombo and checked by police commandos and bomb disposal units, the […]
Money Man
July 12, 2007 (LBO) – The governing board of Sri Lanka’s central bank is filling a vacancy with President’s Counsel K C Kamalasabayson, the monetary authority said Thursday. He was educated at St. Thomas’ College Mount Lavinia and was conferred a First Class Honours Pass at the Advocates Final Examination from Sri Lanka Law College […]
Consolidation
July 12, 2007 (LBO) – Asian Finance is planning a merger with its parent company, Lanka Ratings (LRA) said, while confirming a negative outlook on the firm’s rating due to its high exposure to the share market. Lanka Ratings Agency confirmed BBB3 investment grade rating of Asian Finance. “The negative outlook is premised on the […]
Standing By
July 12, 2007 (LBO) – Sri Lanka’s United Motors Lanka Limited has put off plans to diversify into big property developments as the market for high-rise space seems to be slowing, officials said. UML Property Development’s profits were tax free for a period of seven years and now are taxed at a concessionary rate. The […]
Graft Web
July 11, 2007 (AFP) – A grouping of companies launched Wednesday a website dedicated to collecting information about officials and governments around the world who seek bribes. The US-based Trace International, a non-profit grouping of multinational firms, said their new website Bribeline.org will allow people or organizations to anonymously report bribe requests. Trace said its […]