Author: lbostgadmin
Sri Lanka warned against giving elephant to Philippines
September 16, 2011 (AFP) – An international animal rights group warned Sri Lanka Friday against giving the Philippines a baby elephant, saying the creature would face a “lifetime of confinement, boredom and abuse”. The Asian unit of US-based People for the Ethical Treatment of Animals (PETA) wrote to Sri Lanka’s Prime Minister D. M. Jayaratne […]
Film View
Sept 17, 2011 (LBO) – A shopping and entertainment complex that Sri Lanka’s Cargills plans to build in the former northern war zone of Jaffna will have three cinemas with seating for a total of 1,200 people. Cargills, which also has interests in food processing, is expanding aggressively, buying a brewer and having just got […]
‘s Fortress Resort wins luxury hotel award
Sept 17, 2011 (LBO) – Sri Lanka’s Fortress Resort and Spa, has won the award fore the best coastal luxury hotel at a global travel awards, signalling the island’s emerging position in the luxury end of the market, an official said. Fortress is in Galle in Sri Lanka’s southern coast, and follows Dutch architecture. Sri […]
Sri Lanka policy rates steady, credit expected to slow: Central Bank
Sept 16, 2011 (LBO) – Sri Lanka has kept policy rates steady at 7. 00 percent to deposit excess reserves and 8. 50 percent to inject cash as rupee liquidity in monetary markets declined, expecting credit growth and forex interventions to ease in the future. The Central Bank said broad money grew 20. 7 percent […]
India hikes interest rates by 25 basis points
MUMBAI, September 16, 2011 (AFP) – India’s central bank on Friday raised interest rates for the 12th time in 18 months to combat near double-digit inflation, despite signs of slowing economic growth. The Reserve Bank of India (RBI) raised its repo rate, at which it lends to commercial banks, by a quarter percentage point to […]
Sri Lanka stocks end up 0.29-pct
Sep 16, 2011 (LBO) – Sri Lankan stocks recovered Friday ending a week-long fall with continued trading in shares that had drawn the interest of speculators, brokers said. The main All Share Price Index rose 0.29 percent (19.99 points) to 6,870.92, while the more liquid Milanka index rose 0.50 percent (30.75 points) to close at […]
Sri Lanka forex interventions to ease, inflows expected: CB Governor
Sept 16, 2011 (LBO) – Sri Lanka’s recent interventions in forex markets which were partly triggered by payments for oil will ease in the future, helped by higher expected inflows, Central Bank Governor Nivard Cabraal said. “Now the interventions are much less,” Cabraal said. “Even going forward, our estimates are that it will be limited. […]
Sri Lanka gets new Treasuries dealer
Sept 16, 2011 (LBO) – Sri Lanka’s central bank said it had appointed Wealth Trust Securities Limited as a primary dealer for government securities. The firm’s chief execuitve is Dammika Ranawana who had two decades of experience in fixed income securties markets in Sri Lanka. The firm is promoted by Sri Lanka based Finco Holdings […]
Swazi king wants bailout from IMF, World Bank
MANZINI, September 14, 2011 (AFP) – Swazi King Mswati III said Wednesday that the International Monetary Fund and the World Bank should come to his country’s rescue, as they have for troubled nations like Greece and Portugal. “When they come to visit us, they do not come in the same spirit and that is a […]
Sri Lanka, Vietnam mull tractor plant, garment ventures
Sept 15, 2011 (LBO) – Vietnam is considering setting up a tractor plant in Sri Lanka and also joint ventures in garment manufacture, the island’s ministry of industry and commerce said in a statement. “Vietnam is keen to import more coconuts from Sri Lanka, collaborate in garment manufacturing and also to set up a manufacturing […]
‘s GDP expands 8.2-pct in June quarter: statistics office
Sept 15, 2011 (LBO) – Sri Lanka’s economy expanded by an estimated 8. 2 percent in the second quarter of 2011 from a year earlier, led by industry and services, the state statistics office said. In the second quarter of 2010, gross domestic product grew by 8.5 percent. The statistics office said industry, which has […]
Indian rupee slides to near two-year low
MUMBAI, September 14, 2011 (AFP) – India’s rupee slid to a near two-year low against the US dollar on Wednesday on worries about the deepening European debt crisis and as global markets tumble. The partially convertible Indian unit weakened to 48.02 rupees to the dollar on growing demand for the US currency from banks and […]