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Sri Lanka to offer US$ 250 mn bonds to market this month
June 2, 2006 (LBO) – Sri Lanka will offer the first tranche of a medium term bond issue, worth 200 million dollars to market players later this month, as the government looks for ways to pay for hefty imports of oil, wheat and sugar, officials said Friday. Central Bank’s public debt department told primary dealers […]
Sri Lankan rupee weakens, while stocks perk despite heavy foreign selling
June 2, 2006 (LBO) – Sri Lankan stocks closed the week on a high note, while the rupee dipped further against the dollar, as financial markets reacted sharply to news of the Central Bank governor’s sudden resignation.Colombo share prices rose 1.79 percent on a 12.9 percent rise in fuel retailer Lanka IOC, but heavy foreign […]
Bank of Ceylon shops for dollars
June 2, 2006 (LBO) – State-run Bank of Ceylon is actively pursuing to raise around 250 million dollars through a syndicated loan from foreign banks with offices in Sri Lanka, market sources said.Last year, Bank of Ceylon raised 130 million dollars via a two-year syndicated loan to finance its ongoing trading facilities including oil imports […]
Sri Lanka to raise dollar bonds to shore up reserves this month
June 2, 2006 (LBO) – Sri Lanka plans to tap the international debt market this month to raise 350 million dollars to shore up official reserves, a top Central Bank official said Friday as financial markets reacted sharply to news of the bank governor’s sudden resignation. Dubbed ‘Sri Lanka Development Bond’, the issue will carry […]
Rubber could lose some steam this year, but stay a cash cow
June 02 (LBO) – Overheated rubber prices are expected to settle down from its recent high spell, brokers say, but stocks with high exposure to rubber will still be the cash cow this year. Top grades of crepe rubber, which makes up bulk of Sri Lanka’s rubber exports, is now selling at 395 rupees a kilo, […]
No Bribes
June 02 (LBO) – A government help line linked up to 20 key state departments is to be rolled out soon, to offer general public information from getting birth certificates to a driving license. The Government Information Centre (GIC), accessed by dialing 1919 from anywhere in the island, is still in beta testing stages and […]
Beat the heat — with rattlesnake ice cream
TOKYO, June 2, 2006 (AFP) – Anyone for rattlesnake ice cream? Japan is no stranger to bizarre frozen deserts and this year is no exception with cow tongue, Indian curry, cheese and even cactus among the flavours on offer for courageous taste buds at an annual event at the Namjatown theme park. Other ice creams […]
Sri Lanka offers Tamil autonomy as US warns against war
June 2, 2006 (AFP) – Sri Lanka moved closer Friday to granting more autonomy to minority Tamils under a new initiative backed by the opposition, as the United States warned against a return to full-scale war on the island.“Even though we will be having second or third-level talks in Oslo next week, the signal it […]
Sri Lanka pushes Tamil autonomy as US warns against war
COLOMBO, June 2, 2006 (AFP) – Sri Lanka’s president launched talks with opposition parties Friday to hammer out a plan to grant autonomy to separatist Tamil rebels as the United States warned against a return to full-scale war. The meeting with major parties of the majority Sinhalese community was underway to agree a path to […]
Bomb fears in Sri Lanka capital trigger appeal
June 2, 2006 (AFP) – Sri Lanka’s military Friday sought public support to step up security in the main city of Colombo amid fears of bomb attacks by Tamil Tiger rebels. Military spokesman Prasad Samarasinghe said residents should alert the authorities to any suspicious individuals or activity in their neighbourhoods. He said 11 telephone numbers […]