Author: lbostgadmin
Sri Lanka budget 2011 for stability, knowledge economy
Nov 25, 2010 (LBO) – Sri Lanka’s 2011 budget has been made to keep the economy stable allowing monetary policy to maintain low inflation and also speed the country towards a knowledge economy, Treasury Secretary P B Jayasundera said. “This entire fiscal strategy is to bring stability in macro terms,” he told a seminar organized […]
‘s level
Nov 25, 2010 (LBO) – Sri Lanka’s tea production in October 2010 was 26.6 million kilos, almost the same as a year ago but the crop in the 10 months period was much higher, the Tea Board said. Low growns, which make up more than half the crop, rose 4.9 percent to 17.5 million kilos […]
Indian FM in Sri Lanka amid growing Chinese influence
November 25, 2010 (AFP) – Indian Foreign Minister S. M. Krishna was due in Sri Lanka Thursday to shore up bilateral relations amid growing Chinese influence on the island. Krishna is due to call on President Mahinda Rajapakse and also open two Indian consulates in the southern and northernmost parts of the island before leaving […]
Sri Lanka hydro power firm gains 55-pct on trading debut
Nov 25, 2010 (LBO) – Hydro Power Free Lanka (HPFL) shares began trading on the Colombo bourse at 15.50 rupees, a gain of 55 percent over its initial offer price of 10 rupees, a statement said. The share’s highest price for the day 16 rupees and the lowest 15 with a total volume of 22,208,800 […]
Cable Crisis
Nov 25, 2010 (LBO) – Sri Lanka’s cable TV firms are facing a crippling tax that may put all of them out of business, following the imposition of a new ‘teledrama’ tax that has already hit terrestrial ‘free to air’ channels. Industry officials say the cable TV industry would not be able to survive if […]
Money Trail
Nov 25, 2010 (LBO) – Sri Lanka’s central bank has signed a deal with the central bank in Bangladesh to share financial information in tackling money laundering and terrorist financing, a statement said. “Money laundering and terrorist financing are often internationally connected activities,” the statement said. “Financial intelligence authorities also need to be internationally organized […]
Sri Lanka, India has best budget transparency in South Asia: survey
Nov 25, 2010 (LBO) – Sri Lanka and India has emerged on top in South Asia on a global survey on budget tranparency by a Washington based body, which judged that citizens are given enough information to assess how their money is used. Sri Lanka and India has scored 67 points and transparency has improved […]
Sri Lanka stocks close down 0.7-pct
Nov 25, 2010 (LBO) – Sri Lanka stocks closed down 0.76 percent Thursday with a few high-net-worth individuals showing interest in trading, brokers said. The All Share Price Index closed at 6,413. 32, down 0.76 percent (48.80 points) while the Milanka index of liquid stocks dipped 0.77 percent (54.13 points) to close at 6,945.06, according […]
‘s top lenders in 2010; China, capital markets
Nov 24, 2010 (LBO) – China has become Sri Lanka’s top bilateral lender up to September 2010, displacing Japan both in commitments and disbursements, but international capital markets dwarfed traditional lenders via billion dollar bond a month later. The government was now sitting on an aid pipeline of 6,968 million US dollars which included 1,156. […]
Sri Lanka wages to rise as unemployment falls: official
Nov 24, 2010 (LBO) – Sri Lankan business should be ready to pay higher wages as unemployment had come down, and youth becoming more educated and eager to find jobs abroad, a top Treasury official said. And better educated youth were seeking jobs abroad. “Also, our labour market is no longer only here,” Jayasundera said. […]
Sri Lanka Kuruwita Textile losses mount
Nov 24, 2010 (LBO) – High cotton prices has sharply increased losses at Sri Lankan fabric supplier Kuruwita Textile Mills, which is part of the Brandix apparel export group, a stock exchange filing said. “Whilst cotton prices are expected to remain high going forward, your company will be working towards achieving more favourable results with […]
Sri Lanka stocks end up 0.1-pct
Nov 24, 2010 (LBO) – Sri Lankan stocks ended slightly higher Wednesday, shedding some of the morning gains at the close, with some big private deals on selected stocks, brokers said. Another private deal in Colombo Dockyard of a million shares was done at 292 rupees each. The stock closed at 290, up a rupee. […]