Author: lbostgadmin
Sri Lanka gets ADB help to get more taxes, spend better
Apr 16, 2010 (LBO) – The Asian Development Bank said it will give Sri Lanka a 50 million US dollar loan to improve government revenue management, including tax collection, and state spending on infrastructure and the poor. It said in a statement that the ADB and Japan will support Sri Lanka with fiscal reforms to […]
Sri Lanka central bank makes record profits
Apr 16, 2010 (LBO) – Sri Lanka’s Central Bank has made a record 33 billion rupee profit in 2009 as low yielding foreign reserves were lost and replaced with higher yielding domestic government paper during a balance of payments crisis. Even then yields on dollar and euro assets were also low. The central bank also […]
Sri Lanka moves to free prime property in capital
Apr 16, 2010 (LBO) – Prime property in Sri Lanka’s capital Colombo could be made available to private developers when the government goes ahead with a planned shift of state institutions, including defence, to the suburbs, officials said. “We’re waiting for the green light,” said an official of the Urban Development Authority, which is in […]
BBC World Service resumes FM broadcasts in Sri Lanka
LONDON, April 15, 2010 (AFP) – The BBC World Service announced Thursday the resumption of FM programming in Sri Lanka, 14 months after they were taken off air due to interference. World Service programmes in English, Sinhala and Tamil language, which had remained available on shortwave, will be reinstated on the SLBC national broadcaster, said […]
Sri Lanka opposition leader to be convicted next week: party
April 16, 2010 (AFP) – Sri Lanka’s detained ex-army chief and opposition leader Sarath Fonseka is likely to be convicted early next week to prevent him appearing in parliament, his party said on Friday. Fonseka, who won a seat in parliament while in custody, is in custody in the capital Colombo and faces a court […]
EU directive could stump cricket – report
LONDON, April 16, 2010 (AFP) – Cricket could be facing a world shortage of bats as a result of a European Union directive, according to a report in England on Friday. The bizarre crisis follows an EU decision to outlaw before export the chemical methyl bromide, which is an insecticide used to treat the wood […]
Name Change
Apr 16, 2010 (LBO) – Sri Lanka’s dominant wireless operator Dialog Telekom intends to change its name to Dialog Axiata, following the renaming of its Malsyaian parent firm, a stock exchange filing said. Dialog Telekom said the name change is subject to approvals from shareholders and the company registrar. The proposed name “will accurately reflect […]
Water Losses
Apr 16, 2010 (LBO) – A tariff hike improved the finances of Sri Lanka’s state water supplier in 2009 but losses from leaks remain too high while purification costs are growing as pollution increases, the Central Bank said. “Revision of water tariff with effect from February 2009 has had a significant positive impact on the […]
Sri Lankan stocks end 0.28-pct up, Keells Hotels heavily traded
Apr 16, 2010 (LBO) – Sri Lankan stocks closed up Friday on price gains on mid- and small-cap stocks despite price drops in selected high value shares, while high institutional interest on John Keells Hotels pushed turnover past a billion rupees, brokers said. The All Share Price Index closed at 3,966.87, up 11.04 points, while […]
”’ economic recovery
WASHINGTON, April 15, 2010 (AFP) – Federal Reserve chief Ben Bernanke warned on Wednesday the US economy will recover at a “moderate” pace and that significant time will be needed to claw back jobs lost in the recession. In cautious remarks that belied Wall Street’s gathering optimism, Bernanke cautioned that the US economy continued to […]
Sri Lanka gets $150mn ADB emergency loan
Apr 15, 2010 (LBO) – The Asian Development Bank (ADB) said it is providing 150 million US dollars in an emergency loan to Sri Lanka for projects to help people in the war-ravaged north and east. The loan will have a 32-year repayment term, including a grace period of eight years and an annual interest […]
US urges respect for human rights in Sri Lanka
April 15, 2010 (AFP) – US Secretary of State Hillary Clinton has urged Sri Lanka to respect human rights and heal its communal divisions as the island emerges from decades of ethnic bloodshed. In a message marking Sri Lanka’s New Year and released by the US embassy in Colombo on Thursday, Clinton said the government […]