Author: lbostgadmin
Sri Lanka policy rates kept flat, external sector to be watched
Aug 16, 2013 (LBO)- Sri Lanka has kept policy rates steady in August with inflation moderate but the external sector will be watched closely amid currency turmoil in trading partners, the Central Bank said. “Such inflows display that the foreign investor confidence on Sri Lanka has remained unchanged despite the volatility caused by global markets […]
Sri Lanka to target mid-single digit inflation next year: CB Governor
Aug 16, 2013 (LBO) – Sri Lanka will target mid-single digit inflation from next year from the current single digit, Central Bank Governor Nivard Cabraal said. Inflation spiked to near 10 percent earlier in 2013 following high credit growth and balance of payments trouble which sent the rupee reeling to 130 to the US dollar […]
Sri Lanka hopes for current account surplus in BOP after 2016: CB Governor
Aug 16, 2013 (LBO) – Sri Lanka hopes to have a current account surplus in the balance of payments after 2016 Central Bank Governor Nivard Cabraal said. A capital account deficit country, or a country that builds up foreign reserves could have a current account surplus. “Sri Lanka will have inflows to the country,” Cabraal […]
” challenge in Sri Lanka
August 15, 2013 (AFP) – England cricket legend Sir Ian Botham said Thursday he has accepted his “daftest” challenge — walking hundreds of miles under Sri Lanka’s scorching sun to raise money for charity.“It is good to make appeals on television, but when they see you actually doing something, then they are likely to give […]
Cricket: Pakistan plans day-night Test with Sri Lanka
KARACHI, August 15, 2013 (AFP) – Pakistan cricket authorities said Thursday they have proposed playing day-night Tests in the upcoming series against Sri Lanka in the United Arab Emirates in a bid to attract bigger crowds.“The time and weather would be ideal as there will be no dew at that time and it will be […]
Sri Lanka rejects night cricket Tests with pink ball
COLOMBO, August 16, 2013 (AFP) – Sri Lanka on Friday turned down a request from Pakistan to play day-night Tests in the upcoming series in the United Arab Emirates (UAE) where both countries have loyal fans. Sri Lanka Cricket (SLC) said it decided against playing day-night Tests “since the national team players have not practised […]
‘s rupee hits new record low against dollar
MUMBAI, August 16, 2013 (AFP) – India’s rupee plunged to a fresh record low against the dollar on Friday over fears that the central bank’s measures may not be able to prop up the ailing currency, dealers said.The rupee, one of Asia’s worst-performing currencies this year, hit a new low of 62.00 rupees to the […]
Australian tycoon Packer eyes Japan casino
SYDNEY, August 16, 2013 (AFP) – Australian tycoon James Packer said Friday he wants to expand his gaming empire into the lucrative Japanese market in the form of resort-casinos to tap the country’s love of gambling. The mogul, who already operates casinos in Melbourne, Perth and Macau and is planning complexes in Manila, Sydney and […]
Capital Boost
Aug 15, 2013 (LBO) – The capital of Sri Lanka’s state-run People’s Bank will be increased to keep pace with higher business volumes information minister Keheliya Rambukwelle said.As a first step the cabinet of ministers had approved changes to its governing law to increase its authorized capital to 50 billion rupees. A change will also […]
Petro Projects
Aug 15, 2013 (LBO) – Sri Lanka’s Laugfs gas group has been give the nod to build liquefied petroleum gas terminal and a lubricant blending plant with investments of 21.14 million US dollar at Hambantota port, a minister said. Both projects will serve export markets. Information minister Keheliya Rambukwelle said the cabinet of minister had […]
India plunges into Mercantilist moves as currency slips
NEW DELHI, August 14, 2013 (AFP) – India slapped new controls Wednesday on foreign exchange outflows as it struggled to narrow a record current account deficit and arrest the fall of the rupee.The central bank “has to cater to both currency and inflation risks”, which means monetary easing to kickstart growth “is off the table […]
Chance
Aug 15, 2013 (LBO) – Sri Lanka’s state-run National Lotteries Board (NLB) expects revenues to grow 16.2 percent to 14.7 billion rupees in 2013, a top official said.This year it has paid 3,761 million rupees as prize money and created paid prizes of over 10 million rupees to 14 winners. Chairman Chaminda Athuluwage said revenues […]