Author: lbostgadmin
Sri Lanka adds extra India flight for World Cup final
Mar 30, 2011 (LBO) – Sri Lanka’s national carrier SriLankan Airlines will operate an extra flight to Mumbai in India on Saturday, April 02 to cater to cricket fans who want to see the World Cup final. The special flight to Mumbai is in addition to the airline’s regular daily frequency to Mumbai, the airline […]
Maldives reject World Cup terror plot theory
March 30, 2011 (AFP) – A Maldivian man arrested with the help of Interpol and initially linked to an alleged terror plot against the ongoing cricket World Cup has been cleared, an official said Wednesday. Iqbal Mohamed, 42, was arrested on March 10 at the Male International airport after arriving from Pakistan and was later […]
Sri Lanka, India agree not to use force on poachers
Mar 30, 2011 (LBO) – India and Sri Lanka have agreed not to use force on fishermen who break the law regularly by poaching in each other’s waters after illegally crossing the maritime boundary. They also agreed that representative of each nation’s fishing community, whose illegal cross-border forays for poaching have become a diplomatic issue, […]
Director Changes
Mar 30, 2011 (LBO) – A director of Sri Lanka’s listed Commercial Bank of Ceylon has stepped down amid pressure from the state, deepening a controversy over recent appointment of state-connected officials to private listed banks. State funds hold large stakes in HNB. But a bank filing said the two directors were “non-executive/independent. ” Commercial […]
Transport Stalemate
Mar 30, 2011 (LBO) – A surfeit of ministries handling transport in Sri Lanka has turned the sector into a “nightmare” with fragmented responsibilities preventing urgently needed reforms to modernise a long-neglected system, an expert said. A “lead agency” is required to provide proper guidance to develop the island’s transport system, said Amal Kumarage, chairman […]
Sri Lanka shares close down 0.21-pct
Mar 30, 2011 (LBO) – Sri Lankan shares closed lower Wednesday, with the benchmark index dipping below 7,200 points despite a late rally, and sustained interest in debutant Union Bank of Colombo which continued to weaken, brokers said. The All Share Price Index closed at 7,192. 72, down 0.21 percent (15.14 points) while the more […]
Sri Lanka Treasuries flat
Mar 30, 2011 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction with with11. 9 billion rupees of bills being sold to real buyers after offering 10 billion rupees in maturing the government’s debt office said. The 3-month yield was flat at 6. 98 percent with 2.7 billion rupees in bills being […]
Sri Lanka oration: RBI chief rubbishes SDR as dollar replacement
Mar 30, 2011 (LBO) – India’s central bank chief has rubbished the use of the International Monetary Fund’s special drawing rights (SDR) as a global currency in a speech in Sri Lanka in sharp contrast to a position taken by China’s central bank earlier. Many Middle Eastern countries created their own currencies after the devaluation […]
Sri Lanka economic growth 8.1-pct in 2010: Deputy Governor
Mar 29, 2011 (LBO) – Sri Lanka’s economy is estimated to have grown by 8. 1 percent rebounding from a slowdown a year earlier as the country benefitted from a peace dividend, Central Bank deputy governor Dharma Dheerasinghe said. “In January exports have grown 72 percent,” Dheerasinghe said. Imports had grown at a slower rate […]
Sri Lanka economy grew 8.0-pct in 2010
Mar 29, 2011 (LBO) – Sri Lanka’s Gross Domestic Product (GDP) grew eight percent in 2010, up from 3.5 percent the year before, the Department of Census & Statistics (DCS) said in a statement. The Department of Census & Statistics said the agriculture sector grew 7.0 percent in 2010, industry at 8.4 percent and services […]
Sri Lanka per capita income on the rise
Mar 29, 2011 (LBO) – Sri Lanka’s per-capita income at market prices was estimated at 271, 259 rupees or 2,399 US dollars in 2010, up 14.7 percent in rupee terms or 16.6 percent in dollar terms from 2009, the government said. The Department of Census & Statistics (DCS) said in a statement Private Final Consumption […]
Sri Lanka construction, housing market expands
Mar 29, 2011 (LBO) – Sri Lanka’s construction industry and housing market grew strongly in 2001 compared with the year before driven by infrastructure projects, resettlement after a war and increased borrowing. The construction sub sector of gross domestic product grew 9.3 percent in 2010 from a growth of 5.6 percent the previous year, the […]