Author: lbostgadmin
World tourism shows surprise surge
MADRID, August 26, 2013 (AFP) – International tourist numbers surged by 5.2 percent to nearly half a billion people worldwide in the first half of 2013, beating earlier expectations, the United Nation’s World Tourism Organisation said Monday. Some 494 million international tourists spent at least one night abroad in the first six months of the […]
Sri Lanka tourist arrivals up 9.5-pct in July
Aug 27, 2013 (LBO) – Sri Lanka’s tourist arrivals rose 9.5 percent to 98,944 in July 2013 from a year earlier, helped by India, Germany and China, data from the state tourism promotion office said. In the seven months to July visitors were up 12.5 percent to 611,222. South Asian arrivals rose 24.6 percent to […]
Credit Snapshot
Aug 27, 2013 (LBO) – Sri Lanka’s Nations Trust Bank expects loan growth to pick up towards the end of the year but the lender will be cautious and maintain liquidity, a top official said. “We estimate some revival in credit demand by fourth quarter of this year,” NTB chief executive Renuka Fernando told an […]
Sri Lanka rupee weaker, bonds flat
Aug 27, 2013 (LBO) – Sri Lanka’s rupee weakened below 133 to the US dollar Tuesday and bond were flat amid jitters in international forex markets, dealers said.The rupee weakened to 133.05/10 levels to the US dollar in the spot next market, where settlement is made three days later, weakening from 132.90/133.00 Monday. Exporters were […]
China firm seeks to investments in power, waste management in Sri Lanka
Aug 26, 2013 (LBO) – Aerospace Long-March International, a Chinese state firm is seeking joint ventures in power and waste disposal, Sri Lanka’s economic development ministry said.The company is already involved in Sri Lanka’s Lotus Tower project. A team led by the firm’s President Guo Zhaoping had met Sri Lanka’s economic development minister Basil Rajapaksa. […]
‘s aims high in becoming easier place for business: CB Governor
Aug 26, 2013 (LBO) – Sri Lanka aims to be among the 30 easiest places to do business in the world by 2016 and maintain stable economic conditions comparable to advanced nations, Central Bank Governor Nivard Cabraal said.Sri Lanka which was at one time ranked around 100 in a ease of doing business indicator compiled […]
” in Sri Lanka
COLOMBO, August 25, 2013 (AFP) – The UN’s top rights official began her visit to Sri Lanka Sunday by brushing aside criticism that she overstepped her brief and vowing to raise human rights concerns with Colombo.Navi Pillay, who has previously called for a war crimes investigation against Sri Lanka, said she was only holding it […]
‘s visit
COLOMBO, August 26, 2013 (AFP) – Buddhist monks led protests in the Sri Lankan capital Monday against the UN’s top rights official, who began a fact-finding mission to the country following concerns about war crimes.Dozens of monks and pro-government activists staged the noisy demonstration outside UN offices, accusing the international community of drumming up false […]
Maldivian foreign minister dies in Singapore hospital
COLOMBO, August 25, 2013 (AFP) – Maldivian Foreign Minister Abdul Samad Abdullah died Sunday while undergoing treatment for kidney and heart disease in a Singapore hospital, the government said.He was 67. Abdullah was a key ally of President Mohamed Waheed who is seeking re-election in September 7 elections in the Indian Ocean atoll nation. Waheed […]
Not Us
August 25, 2013 (AFP) – Sri Lanka’s army Sunday denied involvement in an armed robbery at the home of a journalist who has been critical of the government.Media rights groups have said Sri Lanka remains a dangerous place for journalists despite the end of a decades-long war between the military and Tamil separatist rebels in […]
Sri Lanka bond yields steady, money tighter
Aug 26, 2013 (LBO) – Sri Lanka’s bonds opened flat Monday but money markets were tighter after excess liquidity in the interbank market gradually reduced last week, dealers said.Gilt-backed repos were quoted around 8.40/50 percent about and un-backed call money was quoted at 8.70/80 percent about 10/15 basis points higher than last week, dealers said. […]
”’ rating confirmed: RAM
Aug 26, 2013 (LBO) – RAM Ratings has cut outlook on a ‘BBB’ rating of Sri Lanka’s Sanasa Development Bank Plc, a micro-financier based on a co-operative concept, to ‘stable’ from ‘positive’. “The revision reflects a trend of weakening asset quality amidst an accretion in non-performing loans (NPLs) as well as the Bank’s moderated performance,” […]