Author: lbostgadmin
‘s inflation leaps above 8.0%
NEW DELHI, January 14, 2011 (AFP) – India’s inflation rose again to 8. 43 percent in December, data showed Friday, as the government announced steps to curb food prices amid mounting public anger over the cost of living. The wholesale price index, used as the main measure for inflation in India, accelerated to 8.43 percent […]
Sri Lanka to get US$500mn hotel from China aviation firm
Jan 14, 2010 (LBO) – A Chinese aviation firm will build a 500 million US dollar hotel and shopping complex in the main beachfront of Sri Lanka’s capital Colombo, the government said. Shangri-La will get state land on which a military sports ground was located. China National Aero Technology Import and Export Corporation (CATIC) will […]
Sri Lanka Taj owners may build another hotel: minister
Jan 14, 2010 (LBO) – Investors connected to Taj Samudra hotel in Sri Lanka’s capital Colombo may build another hotel in the same premises, economic development minister Basil Rajapaksa said. The Taj group said late last year that the existing 5-star Taj Samudra may go through a 60 million US dollar upgrade. The group manages […]
Sri Lanka shares end up 0.15-pct
Jan 14, 2011(LBO) – Sri Lankan stocks closed higher Friday with active trading seen in finance sector, brokers said. The All Share Price Index closed at 7,032. 60, up 0.15 percent (10.72 points) while the Milanka Price Index of more liquid stocks closed at 7,301. 09, down 0.35 percent (25.75 points) according to stock exchange […]
World Bank sees 2008 risks for global economy
WASHINGTON, January 13, 2011 (AFP) – The World Bank warned Wednesday the global economy could return to the dark days of the 2008 crisis, with slowing growth and rising commodity prices. After the recession in 2009 and the 2010 rebound, the multilateral institution said, 2011 is expected to be a year of deceleration. In its […]
Sri Lanka can loosen monetary policy amid fiscal tightening: economist
Jan 14, 2010 (LBO) – Sri Lanka could loosen monetary policy if it is balanced by tightening fiscal policy to manage inflation, a senior World Bank economist said South Asian nations struggled with large deficits and high inflation from past loose policy. Sri Lanka has a pegged exchange rate where the country’s inflation is externally […]
BlackBerry says Indian security fears answered
NEW DELHI, January 13, 2011 (AFP) – The Canadian maker of BlackBerry said Thursday it had found a way out of an ongoing standoff in India over allowing security agencies access to the smartphone’s encrypted messaging service. However, the solution did not include providing access to corporate e-mail services, Research In Motion (RIM) said in […]
Sri Lanka floods toll hits 18
January 12, 2011 (AFP) – At least 18 people have died and nearly one million have been made homeless by flooding in Sri Lanka after days of heavy rains, officials said Wednesday. Central and eastern regions of the island have been worst hit by the monsoon rains, with frequent mudslides and rising water levels. Continuing […]
‘s capital cools to a 2-year low
Jan 13, 2011 (LBO) – A combination of a cloudy sky and a cold stream from Himalayas pushed temperature at Sri Lanka’s capital Colombo to a two year low of 18. 8 degrees on the Celsius scale on Thursday, the meteorological office said. “The average temperature for Colombo in the past 30 years has been […]
Floods force a million Sri Lankans from homes
January 13, 2011 (AFP) – Flooding in Sri Lanka has forced more than one million people out of their homes, the government said Thursday as it began distributing emergency food, clothing and bedding. At least 23 people have died during a week of monsoon floods, with the centre and east of the island worst hit […]
Transport Secretary
Jan 13, 2010 (LBO) – Head of Sri Lanka’s Vallibel, Dhammika Perera has been appointed to the post of secretary of the transport ministry. Vallibel has interests in ceramics, power, banking, tourism and gaming. Perera said he got the letter of appointment on Wednesday and he will unveil plans to develop the country’s transport sector, […]
Sri Lanka stocks close up 0.1-pct
Jan 13, 2011(LBO) – Sri Lankan stocks closed 0.10 percent higher Thursday with active trading in the power sector and lot of retail driven participation, brokers said. The All Share Price Index closed at 7,021.88, up 0.10 percent (7.03 points) while the Milanka Price Index of more liquid stocks closed at 7,326.84, down 0.01 percent […]