Author: lbostgadmin
India shrugs off Chinese influence in Sri Lanka
November 26, 2010 (AFP) – India has no worries about rival China’s expanding ties with Sri Lanka, India’s foreign minister said on Friday, a week after Colombo unveiled a 1. 5-billion-dollar Chinese-funded port. S.M. Krishna, who met Sri Lankan President Mahinda Rajapakse earlier in the day, said Colombo’s ties with Beijing and other capitals would […]
‘s former war zone
November 27, 2010 (AFP) – India’s foreign minister visited Sri Lanka’s former war zone on Saturday after urging Colombo to share political power with minority Tamils following last year’s end to the ethnic conflict. Analysts have said New Delhi is concerned that a new port funded by Beijing is part of a Chinese policy to […]
Sri Lanka, India pre-war air, sea links to resume
Nov 27, 2010 (LBO) – Pre-war air and ferry links between south India and northern Sri Lanka should resume to improve contacts between people and strengthen the local economies, Indian foreign minister S M Krishna said. With the end of the 30-year ethnic war in May 2009, both governments want to resume the old ties […]
Sri Lanka, India free trade talks to resume in December
Nov 26, 2010 (LBO) – India and Sri Lanka are to resume talks in December 2010 on a Comprehensive Economic Partnership Agreement (CEPA) that had been stalled by protectionist lobbies on the island. “A delegation from the Ministry of Commerce and Industry of India would visit Sri Lanka on mutually convenient dates in December 2010 […]
Sri Lanka economic data integrity under fire
Nov 26, 2010 (LBO) – A Sri Lankan economist who is also a lawmaker has queried apparent contradictions in the island’s poverty and consumption data, adding to an ongoing debate on the integrity of the country’s economic statistics. Harsha de Silva, representing Sri Lanka’s main opposition United National Party, said a budget speech had claimed […]
Rain washes out play in Sri Lanka-Windies Test
November 26, 2010 (AFP) – No play was possible due to rain on the penultimate day of the second Test between Sri Lanka and the West Indies in Colombo on Friday. The West Indies were 165-5 in their first innings in reply to Sri Lanka’s 387-9 declared on Thursday, with Carlton Baugh unbeaten on four […]
Sri Lanka Hemas expects govt to honour power deals
Nov 26, 2010 (LBO) – Hemas Holdings group expects Sri Lanka’s government to honour power purchase agreements with investors who set up private power plants and helped ward off power cuts despite talk of renegotiating them, a senior official said. Hemas chief executive Husein Esufally said private power suppliers had not been officially informed the […]
Sri Lanka gets more Indian aid for coal power plant
Nov 26, 2010 (LBO) – India is giving Sri Lanka a 200 million US dollar soft loan to help its cash-strapped power utility proceed with a joint venture 500 MegaWatt power plant on island’s east coast, a statement said. India is also offering financial support for the equity contribution of the Ceylon Electricity Board (CEB) […]
Rating Strength
Nov 26, 2010 (LBO) – Sri Lanka’s HSBC branch’s ‘AAA(lka)’ long term rating has been confirmed with a ‘stable’ outlook backed by the ‘AA’ rating of Hongkong & Shanghai Banking Corporation Limited, Fitch Ratings Lanka said. By end June, the Sri Lanka branch of HSBC had increased its loan book 6.4 percent after contracting 12.4 […]
Rail Fund
Nov 26, 2010 (LBO) – Sri Lanka and India has inked a deal for a 416 million US dollar credit from India’s export import bank to rebuild railways in the island’s war-torn north, a government statement said. The president’s office said the deal was signed between Nadeem Panketan, managing director of the Indian export import […]
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 […]