Author: lbostgadmin
Sri Lankan investments sought by Maldives
Oct 06, 2011 (LBO) – The Maldives is seeking more investments from Sri Lanka, especially in construction, transport and energy, and a credit line offered to Sri Lankan exporters is to be broadened beyond fruits and vegetables. The Maldivian administration’s key economic strategy is to engage the private sector and enable the diversification of the […]
Sri Lanka facilitating imports with forex reserves for growth
Oct 06, 2011 (LBO) – Sri Lanka’s central bank is facilitating imports to maintain growth by selling reserves and not trying to defend a particular exchange rate, Deputy Governor Dharma Dheerasinghe said. Equity markets inflows which were about 150 million dollars negative will turn positive towards the end of the year with investments from the […]
‘s biggest fund increases equity investments
Oct 06, 2011 (LBO) – The Employees’ Provident Fund (EPF), Sri Lanka’s biggest fund with 976 billion rupees in assets and managed by the central bank, has increased investments in the stock market. A central bank statement said the EPF’s total assets, which had grown an annual 14.6 percent, are expected to reach a value […]
” to improve rights
October 6, 2011 (AFP) – Sri Lanka Thursday announced a new move to address human rights issues in the face of international pressure over war crimes allegations arising from the end of the island’s civil war. The government said it hoped to strengthen civil liberties and ensure better human rights compliance through the implementation of […]
Indian Ocean tsunami alert system to be tested on Oct 12
PARIS, October 6, 2011 (AFP) – Nearly two dozen countries next Wednesday will take part in a full-scale test of the Indian Ocean’s tsunami alert system, using the 2004 Sumatra quake as the basis for the exercise, UNESCO said on Thursday. Exercise IOWAVE 11 will re-enact the seismic events of December 26, 2004, simulating a […]
Salute
SAN FRANCISCO, October 6, 2011 (AFP) – Steve Jobs was once known as the man who saved Apple computers. He will be remembered as one of the rare few who changed the world. Jobs guided Apple from the brink of financial ruin to a lofty place among the world’s most valuable companies before his death […]
Sri Lanka tea estate gets govt nod for tie up
Oct 06, 2011 (LBO) – Sri Lanka’s Bogawantalawa Tea Estate, a listed firm said it has received approval from the state to transfer management of three factories and land to the domestic arm of a US based tea marketing firm. Bogawantalawa Plantations said in a stock filing that it had received the nod from the […]
Sri Lanka value added tea exports cleared by Syria
Oct 06, 2011 (LBO) – Syria has lifted an import ban on value-added tea exports from Sri Lanka which had raised fears it could sharply reduce earnings from the island’s main export product. “There’s now no ban by Syria,” said Hasitha De Alwis, director promotions of the Sri Lanka Tea Board. “The ban on smaller […]
Trade Finance
Oct 06, 2011 (LBO) – Sri Lanka’s Commercial Bank has enabled customers to transact in Chinese Yuan for import and export dealings with counterparts in the People’s Republic of China. “The move, which recognises the growing importance of China as a trade partner for Sri Lanka, will reduce conversion losses and time lapses involved in […]
Cargo Call
Oct 06, 2011 (LBO) – Mediterranean Shipping Company has decided to extend by two years a deal with the Sri Lanka Ports Authority under which it calls at a state-run container terminal in Colombo port. The container shipping line is also interested in investing in new ports being developed in the island, an SLPA statement […]
Sri Lanka stocks end down 0.4-pct
Oct 06, 2011 (LBO) – Sri Lankan stocks closed weaker for the third straight day Thursday with interest in ‘penny’ stocks and those that had drawn speculators, brokers said. The main All Share Price Index fell 0.43 percent (28.64 points) to 6,677.84, while the more liquid Milanka index fell 0.47 percent (27.91 points) to close […]
Sri Lanka overnight rates ease
Oct 06, 2011 (LBO) – Interest rates in Sri Lanka’s overnight money markets eased Thursday, a day after the monetary authority resumed cash auctions to inject liquidity, dealers said. Sri Lanka’s rates have been rising in recent weeks with the defence of a dollar peg which has drained liquidity from the system. The Central Bank’s […]