Author: lbostgadmin
Sri Lanka trade deficit obsession misplaced: focus
May 18, 2013(LBO) – Sri Lanka’s obsession with trade deficits is misplaced because it ignores the broader exchanges including services that take place between citizens of one county and another, economists and officials have said. Saman Kelegama, head of the Institute of Policy Studies, a think tank, said the obsession was particularly strong in relation […]
Sri Lanka trade deficit obsession misplaced: focus
May 18, 2013(LBO) – Sri Lanka’s obsession with trade deficits is misplaced because it ignores the broader exchanges including services that take place between citizens of one county and another, economists and officials have said.Saman Kelegama, head of the Institute of Policy Studies, a think tank, said the obsession was particularly strong in relation to […]
S&P warns India could face junk status
NEW DELHI, May 18, 2013 (AFP) – India faces at least “a one-in-three” chance of losing its prized sovereign grade rating, global ratings agency Standard and Poor’s has warned, in another blow to the scandal-tainted Congress government.The agency said it may also cut India’s ratings if it concludes that Asia’s third-largest economy will not revert […]
‘s Bogala Graphite returns to profit
May 18, 2013 (LBO) – Sri Lanka’s Bogala Graphite Plc, a unit of Germany’s AMG Mining AG, returned to a profit of 15.6 million rupees in the March 2013 quarter despite a fall in revenues as forex losses last year reversed.The foreign exchange gain for the current period from a Euro loan was 8.5 million […]
Ecuador stops Sri Lanka-US migrant smuggling ring
QUITO, May 16, 2013 (AFP) – A ring that smuggled immigrants from India and Sri Lanka into the United States through Ecuador has been broken up with the arrest of six people, Ecuadoran authorities said Thursday.Police, who said the arrests were made following a two-month investigation, seized documents, laptop computers and nearly $100,000 in cash. […]
Sri Lanka says minefields cleared for re-settlement
COLOMBO, May 16, 2013 (AFP) – Sri Lankan troops have completed clearing mines from all areas needed for re-settlement and farming in the island’s former war zone, the military said Thursday, nearly four years after crushing Tamil rebels.Sri Lanka’s army reported one soldier died and 15 were wounded during the mine clearing, while several civilians […]
Sri Lanka beckons foreign workers
May 17, 2013 (LBO) – Sri Lanka’s post-war economic revival and tightening labour markets are throwing up opportunities for workers from abroad, including those who had left the island, business and state officials said.Central Bank Governor Ajith Cabraal said at the launch of the website that soon after he qualified as an accountant in 1976, […]
Sri Lanka could improve GDP estimates, data standards: IMF
May 17, 2013 (LBO) – Sri Lanka can improve gross domestic product calculations to be more in line with international standards and the country does not yet comply with the highest data dissemination standards, the International Monetary Fund has said.“The national accounts suffer from insufficient data sources and undeveloped statistical techniques,” an IMF country report […]
Sri Lanka stocks close up 1.5-pct
May 17, 2013 (LBO) – Sri Lanka’s stocks closed up 1.49 percent on Friday, with heavy retail trading activity in the banking sector and interest continuing in index heavy John Keells Holdings, brokers said. The benchmark Colombo All Share Index closed 93.70 points higher at 6,380.70 up 1.49 percent and the S&P SL 20 Index […]
Indian cricketer Sreesanth held for spot-fixing
NEW DELHI, May 16, 2013 (AFP) – Indian cricket authorities on Thursday suspended three players, including Test paceman Shanthakumaran Sreesanth, after they were arrested for alleged spot-fixing during the Indian Premier League.Uncapped bowlers Ankeet Chavan and Ajit Chandila were the other hermes bags two players suspended from the ongoing domestic Twenty20 competition. “The three players… […]
Sri Lanka exports to India surge after free trade agreement
May 16, 2013 (LBO) – Sri Lanka’s exports to India have surged under a free trade deal, growing six fold, with the number of items going up four fold to 2,100 but most of the imports to the island take place outside the agreement, economists said.“On average 70 percent of Sri Lanka’s exports to India […]
Tele Stability
May 16, 2013 (LBO) – Mobitel, a unit of Sri Lanka Telecom has made a profit of 640 million rupees in the March 2013 quarter, turning around from a loss of 950 million rupees, a year earlier, its parent said.Losses last year came from currency depreciation, the firm said. Revenues had grown 10 percent to […]