Author: lbostgadmin
‘s injured Muralitharan out of World T20
May 3, 2010 (AFP) – Sri Lanka suffered a major blow to their World Twenty20 campaign when veteran off-spinner Muttiah Muralitharan was sidelined with a groin injury, officials said on Monday. Muralitharan, 38, who is also the team’s vice captain, was injured during Friday’s opening match against New Zealand in Guyana, which Sri Lanka lost […]
Sri Lanka in ADB trade finance deal
May 03, 2010 (LBO) – Sri Lanka is one of the countries included in a trade finance deal between the Asian Development Bank and Germany’s Commerzbank to share risks to support increased trade in developing Asia. According to an ADB statement, the Risk Participation Agreement signed on the sidelines of the bank’s 43rd annual meeting […]
Sri Lanka police arrest counterfeiters, says clothing brand
May 03, 2010 (LBO) – Sri Lankan police have arrested several people for intellectual property rights violation after a raid on a factory making fake designs of the Odel fashion brand, the company said in a statement. Odel runs a popular upmarket department store in Sri Lanka’s capital Colombo and has begun setting up branches. […]
‘s myth of free education and its quality
May 03, 2010 (LBO) – After the release of the results of every major public examination, a spontaneous debate takes place in the country regarding the deteriorating quality of the students sitting for the examinations. The first type of the survey is conducted by the Central Bank of Sri Lanka and according to its survey […]
Software Source
May 03, 2010 (LBO) – Sri Lankan information technology companies are trying to attract business process outsourcing (BPO) work from European small businesses, an industry group said in a statement. “Sri Lanka is a unique and competitive destination for specialized and SME (small and medium enterprise) sourcing,” said Reshan Dewapura of the island’s state-run Information […]
Sri Lanka John Keells hotel in upgrade investment deal
May 03, 2010 (LBO) – Habarana Lodge has signed a deal with the Board of Investment to invest 2. 5 million US dollars to re-furbish and upgrade its hotel in north-central Sri Lanka, the investment promotion agency said. The 140-room Cinnamon Lodge Hotel at Habarana, part of the John Keells group hotel chain, will be […]
Sri Lankan stocks close up 0.72-pct
May 03, 2010 (LBO) – Sri Lankan stocks passed 4,200 points Monday as price gains on selected high values shares pushed the market up, while Janashakthi Insurance and Commercial Bank trades helped turnover pass 3. 0 billion rupees, brokers said. Commercial Bank closed at 239.75 rupees, up 25 cents with 5.0 million shares traded, Hatton […]
Sri Lanka top economists, poll, back IMF fiscal restraint: report
May 02, 2010 (LBO) – Top Sri Lankan economists and a poll by an influential newspaper has backed the revival of a stalled International Monetary Fund deal to discipline government spending and preserve economic stability. A poll by Sri Lanka’s by the Business Times, a part of Sri Lanka’s The Sunday Times an influential English, […]
India weighs capital controls as high rates push rupee up
NEW DELHI, May 2, 2010 (AFP) – India’s government is weighing capital controls with the rupee on the rise amid fears of “hot money” flowing into the country as investors pile back into Indian assets. Unlike fellow emerging market giant China, India allows its currency to float freely and the central bank has warned of […]
‘s Union Bank gets Malaysian, US capital, plans IPO
May 01, 2010 (LBO) – Union Bank (UB), has inked a deal to raise 1.5 billion rupees in capital from Genting Group, a Malaysian conglomerate and Shorecap, a US based banking fund and is hoping to go public within an year, an official said. “Genting is giving 1.0 billion (rupees), Shorecap 500 million rupees,” Union […]
First for Central Asia as ADB meets in Uzbekistan
TASHKENT, May 1, 2010 (AFP) – The Asian Development Bank (ADB) on Saturday opened its annual meeting in Uzbekistan, a first for Central Asia and a coup in the ex-Soviet state’s drive to be recognised as a regional economic power. Some 3,000 participants — including heads of state, central bank governors and finance ministers — […]
Sri Lanka holds first post-war May Day
May 1, 2010 (AFP) – Sri Lanka’s political parties were holding May Day rallies on Saturday for the first time since the ending of nearly four decades of ethnic bloodshed. Nearly a dozen meetings were scheduled in the capital and suburbs, but labour day celebrations by opposition parties were low-key following their drubbing in two […]