Author: lbostgadmin
Sri Lanka mulls energy audit to save electricity
July 02, 2010 (LBO) – The Sri Lankan government is to have energy audits for all state organisations in an efforts to save electricity and minimise wastage, a senior official said. Kithsiri Dissanaike, chairman of the Sustainable Energy Authority, said an awareness campaign for school children as well as industries is also being done to […]
Sri Lanka tea bag exports fall
July 02, 2010 (LBO) – Shipments of tea bags from Sri Lanka to Russia, the main market for tea, the island™s biggest export commodity, have fallen as high import duties on value added teas deter exports, latest data showed. The share of value added tea exports to the Russian market has been falling in recent […]
Sri Lanka cocoa price hike may prompt imports
July 02, 2010 (LBO) – Sri Lankan cocoa prices have shot up owing to cop failure and heavy demand for cocoa beans might prompt the confectionary industry to resort to imports, a trade body said. The Spices & Allied Products Producers™ and Traders™ Association (SAPPTA) said the price for a kilo of grade one cocoa […]
Sri Lanka budget on track in April
July 02, 2010 (LBO) – Sri Lanka’s budget deficit in the first four months of 2010, though high, is in line with the gap for the full-year estimates presented in parliament last week, official data show. In the first four months revenues rose 26. 6 percent to 240.7 billion rupees from a year earlier. But […]
Sri Lankan stocks close down 0.32-pct
July 02, 2010 (LBO) – Sri Lankan stocks closed down Friday as profit- taking on selected high value shares pulled the market down, while retail investors continued to chase after ‘penny’ stocks, broker said. The All Share Price Index closed at 4,593.65, down 17.6 points, while the more liquid Milanka index fell 0.63 percent (38.4 […]
Sri Lanka Treasury yields flat
July 01, 2010 (LBO) – Sri Lanka’s Treasury yields were flat at Wednesday’s auction with the government selling 2. 0 billion more bills to raise fresh cash from the market, the government’s debt office said. The 3-month yield was 8.07 percent, the 6-month yield 8. 93 percent and thee 12-month yield 9.29 percent. The debt […]
Sri Lanka peace, stability help exporters cope with GSP loss: Central Bank
July 01, 2010 (LBO) – Lower interest rates and inflation, ending of a war, reduced war risk premiums, strong foreign reserves and better access to foreign capital markets will help exporters cope with the loss of European trade preferences, the Central Bank said. Sri Lanka is due to lose the Generalized System of Preference Plus […]
‘s Howard fights on despite ICC snub
SYDNEY, July 1, 2010 (AFP) – Australia’s John Howard vowed to fight on to become world cricket president despite his embarrassing rejection by Africa and Asia, which was slammed as a “disgrace” by ex-ICC chief Malcolm Speed Thursday. Howard, the former conservative Australian prime minister, was due to fly home from Singapore after African and […]
Sri Lanka trade concessions to be reviewed: US
July 01, 2010 (LBO) – The United States will review trade concessions granted to Sri Lanka under its Generalized System of Preferences (GSP) affecting 116 million US dollars of goods exported by the island, the US embassy in Colombo said. Other criteria included measures against child labour, and occupational safety and health, work hours, minimum […]
Sri Lanka electricity utility goes for wind power
July 01, 2010 (LBO) – Sri Lanka’s state-run electricity utility will form a separate company to set up wind power plants, Minister of Power and Energy Patali Champika Ranawaka said. New coal-based power plants are being built or planned along with a few more hydro-power plants as most hydro-power potential has been exhausted. There is […]
House arrest for Maldivian opposition MPs as crisis drags
July 1, 2010 (AFP) – A Maldivian court has ordered the house arrest of two key opposition lawmakers amid a power struggle between the country’s president and parliament, an official said Thursday. The Criminal Court of Male told police on Wednesday night to keep the two men under house arrest for three days, but the […]
Banking Move
July 01, 2010 (LBO) – Sri Lanka’s central bank is to open an office in northern Jaffna where it could help with loans and be a catalyst for the economic revival of the region after a war, a statement said. It will be the banking regulator’s fourth provincial office complementing others in the southern, north-central […]