Author: lbostgadmin
Sri Lanka shares end up 0.86-pct
Dec 23, 2010 (LBO) – Sri Lankan stocks closed higher Thursday with prices of poultry firms, that had been heavily traded recently, weakening and active trading in a retail firm seen doing well during the festive season, brokers said. Conglomerate John Keells Holdings closed at 300 rupees, down a rupee with 2.5 million shares changing […]
Sri Lanka forex reserves fall
Dec 23, 2010 (LBO) – Remittances by migrant Sri Lankan workers rose 22 percent in the first 10 months of 2010 but foreign reserves have fallen slightly after central bank dollar sales, latest data showed. “During the first ten months of 2010, workers’ remittances increased by 21.9 percent to 3,380 million US dollars after adjusting […]
Sri Lanka to get cheaper World Bank credit for several years
Dec 22, 2010 (LBO) – Sri Lanka would get cheap World Bank credit for at least three years, while the country re-builds infrastructure after a 30-year war and moves toward becoming a borrower at near-commercial rates, managing director Ngozi Okonjo-Iweala said. “You have the peace dividend. You have ended the conflict. With inclusive growth, where […]
Sri Lanka October exports up 28-pct
Dec 22, 2010 (LBO) – Sri Lanka’s export earnings in October 2010 shot up 27. 6 percent to 802 million US dollars from a year ago, the third highest monthly value, spurred by higher apparel and commodity exports, the central bank said. Imports grew at a slower 8.4 percent to 1,131 million dollars during the […]
India scraps onion tax as prices soar
NEW DELHI, December 22, 2010 (AFP) – The Indian government, facing mounting public anger over soaring onion costs, on Wednesday scrapped tax on imports of the vegetable to try to rein in prices of the ingredient. The government has been feeling the heat over inflation as the opposition BJP has seized on the issue to […]
Foreign firms look to increase solar power presence in India
MORABANDAR, December 22, 2010 (AFP) – The Elephanta Caves, a UNESCO World Heritage Site off the coast of India’s financial capital Mumbai, draw hundreds of thousands of tourists every year. Local people could sell back surplus energy to the grid, he added, while the government should provide subsidies, as it does to the coal industry […]
Sri Lanka registers Ceylon tea intellectual property claim
Dec 22, 2010 (LBO) – Sri Lanka has registered a claim locally for intellectual property protection for Ceylon tea under global ‘Geographical Indicators’ rules that would help market its main export product, a senior official said. That allowed the country to market Ceylon tea worldwide as an environmentally friendly and ozone friendly product. The government […]
Card Attraction
Dec 22, 2010 (LBO) – Sri Lanka’s NDB Bank has launched its own credit cards as it expands its retail business, a statement said. The credit cards will be available to all NDB Bank customers who will get a 45-day interest free period for repayment and a balance transfer option which enables customers to transfer […]
Sri Lanka shares end up 1.21-pct
Dec 22, 2010 (LBO) – Sri Lankan stocks rebounded Wednesday with large private deals in a conglomerate and a poultry firm boosting turnover, brokers said. Just over two million shares of Janashakthi Insurance Company were done in a private deal at 15. 70 rupees each. The stock closed at 15.50, up a rupee. The All […]
Sri Lanka Treasuries yields steady
Dec 22, 2010 (LBO) – Sri Lanka’s Treasury bill yields across all tenors remained steady at Wednesday’s auction with the government rolling over nine billion rupees worth of maturing bonds, the debt office said. The debt office said it accepted 9,165 million rupees from the auction. The yield on three-months bills stayed flat at 7. […]
Sri Lanka warns US over allegations in WikiLeaks cables
December 21, 2010 (AFP) – Sri Lanka on Tuesday warned the United States to exercise “circumspection” in diplomatic cables after a message released by WikilLeaks suggested Colombo had colluded with murderous paramilitary groups. External Affairs Minister G.L. Peiris told US Ambassador Patricia Butenis that leaked US cables contained “glaring instances of allegations totally unwarranted by […]
India suspends exports of onions as prices surge
NEW DELHI, December 20, 2010 (AFP) – India suspended exports of onions, a key food staple, on Monday after prices of the vegetable soared, adding to the government’s inflation woes. Prices of onions — commonly used to add flavour to Indian food — have surged in the past few days to up to 80 rupees […]