Author: lbostgadmin
Sri Lanka travel show planned in Canada
Sept 27, 2011 (LBO) – A travel show to boost tourism to Sri Lanka wil be held in Toronto, Canada where the bulk of existing tourist traffic is now directed to India and the Maldives, its organizers said. “There is a lack of packages to Sri Lanka with travel agents in North America compared to […]
Sri Lanka stocks becalmed
Sept 27, 2011 (LBO) – Sri Lankan stocks were becalmed for the second day Tuesday with turnover also lower than usual amind continued trade in shares that had drawn speculators, brokers said. The main All Share Price Index rose 0.02 percent (1.43 points) to 6,737.45, while the more liquid Milanka index rose 0.03 percent (1.77 […]
IMF to increase resources to more than $1 trillion: report
BERLIN, September 25, 2011 (AFP) – The International Monetary Fund may be hoping to increase its financial resources from $940 billion to at least $1.3 trillion, according to a newspaper report out Monday. German daily the Frankfurter Allgemeine Zeitung said two “models” were currently being examined to up the IMF’s resources, without stating its source. […]
Sri Lanka export shift to Asia seen difficult
Sept 26, 2011 (LBO) – Sri Lankan exporters face difficulties in trying to shift from traditional markets in the West which are stagnant or growing only slowly to fast-growing emerging markets in Asia, an official said. “It’s not going to be easy,” said Anura Ekanayake, former chairman of the Ceylon Chamber of Commerce, the island’s […]
Pressure needed to end child soldier use: France
UNITED NATIONS, September 26, 2011 (AFP) – States and armed groups that refuse to stop recruiting child soldiers must be subject to tougher pressure in the form of sanctions, France’s ambassador for human rights has said. Francois Zimeray will make that case on Monday at a meeting at the United Nations on the sidelines of […]
SriLankan Airlines starts flights to Moscow
Sept 26, 2011 (LBO) – SriLankan Airlines has begun flights to Moscow as it expands its network and increases the number of planes in the fleet. The first flight to the Russian capital was on September 17, a twice-weekly scheduled service between Colombo’s Bandaranaike International Airport and Moscow’s Domodedovo Airport, an airline statement said. The […]
Sri Lanka war general ready to fight US court summons
September 26, 2011 (AFP) – A Sri Lankan general serving as a UN diplomat in New York is prepared to face a US court to deny charges his men committed war crimes during the island’s civil war, reports said Monday. A civil case has been filed in New York on behalf of two people whose […]
Outsource Reach
Sept 26, 2011 (LBO) – PC House, a Sri Lankan information technology company, has bought a 90 percent stake in Infoserve (Private) Limited for 45 million rupees. The company also has a firm revenue stream from computer hardware and software sales and setting up networks. Infoserve is a company based in Sri Lanka providing Internet […]
Liquidity Path
Sept 26, 2011 (LBO) – Sri Lanka’s The Finance Company, which was put under new management by the financial regulator, is planning to sell commercial property as the firm recovers. “..[M]easures are being taken to convert non-yielding land stock to yielding stocks and certain pivotal steps are being ascertained to dispose commercial properties…” chairman Preethi […]
Sri Lanka stocks stagnant
Sept 26, 2011 (LBO) – Sri Lankan stocks were barely changed Monday and turnover was also lower than usual with heavy trade in shares that had drawn the interest of speculators, brokers said. The main All Share Price Index rose 0.02 percent (1.42 points) to 6,736.02, while the more liquid Milanka index rose 0. 03 […]
Sri Lanka bonds volatile, CB Treasuries top Rs50bn
Sept 26, 2011 (LBO) – Sri Lanka’s bond yields ended lower after seeing unusual volatility dealers said, while the rupee continued to be defended at 110.30 to the dollar in the spot market, dealers said. Sri Lanka’s interest rates have started to move after sustained defence of a dollar peg reduced excess liquidity in money […]
Sri Lanka IMF talks continuing on stalled review
Sept 25, 2011 (LBO) – Discussions are continuing with Sri Lanka on a periodic review under an International Monetary Fund bailout program which has supported the island’s policies aimed at restoring stability and growth, a top IMF official said. “We will continue these discussions for the coming review, while they (Sri Lanka’s delegation) are here […]