Author: lbostgadmin
Asset Switch
Apr 05, 2010 (LBO) – Sri Lanka’s state-run funds are buying into private banks as foreign investors continued to exit the country, while governments elsewhere, which had ‘nationalized’ banks in a banking panic were starting to sell out. Up to March foreign investors have sold out of about 13 billion rupees worth of stocks on […]
Sri Lankan stocks close 0.94-pct up, trading volumes low
Apr 05, 2010 (LBO) – Sri Lankan shares closed up Monday on price gains in selected midcap and high value stocks, while trading volumes remained low owing to market liquidity shortfalls, brokers said. Colombo’s All Share Price Index closed at 3,781. 90, up 35.40 points, while the Milanka index of more liquid shares gained 0.47 […]
Sri Lanka to issue coin to replace note
Apr 05, 2010 (LBO) – Sri Lanka will issue a new ten rupee coin from April 05, to replace a note of a similar denomination now in circulation, the Central Bank said Monday. The nickel plated coin has a diameter of 26. 4 millimetres. The obverse has the armorial ensign of Sri Lanka with a […]
Sri Lanka economy seen growing 6.5-pct in 2010: central bank
Apr 05, 2010 (LBO) – Sri Lanka’s economy will bounce back from the effects of war and global recession with 6. 5 percent growth this year, and maintain 7-8 percent growth in the medium term, the Central Bank said. Gross domestic product growth of 7.5 percent is anticipated next year and eight percent in 2012, […]
Sri Lanka military on alert ahead of vote: police
April 4, 2010 (AFP) – Sri Lanka placed nearly 20,000 troops on alert to reinforce police as violence escalated ahead of parliamentary elections, a police spokesman said Sunday. Police said they had received 270 polls-related complaints and 200 people had been arrested. The private Centre for Monitoring Election Violence (CMEV) reported 325 minor incidents of […]
Detained Sri Lanka writer probed for radical links: police
April 3, 2010 (AFP) – A Sri Lankan woman taken into custody last month for writing books about her conversion to Islam from Buddhism is being investigated for possible links to Islamic extremists, police said Saturday. Last weekend, police said the woman, identified as Malini Perera, was taken into custody under tough emergency laws over […]
Sri Lanka detained writer probed for radical links: police
April 3, 2010 (AFP) – A Sri Lankan woman taken into custody last month for writing books about her conversion to Islam for Buddhism is being investigated for possible links to Islamic extremists, police said Saturday. Last weekend, police said the woman, identified as Malini Perera, was taken into custody under tough emergency laws over […]
ICC works to ease visa problems for WCup
April 2, 2010 (AFP) – The International Cricket Council on Friday said it was working to ease visa complications for overseas fans wishing to travel to the 2011 World Cup on the Indian sub-continent. Sri Lanka, India and Bangladesh who are co-hosting the flagship event have promised to speed-up and simplify the visa issuing process, […]
Loan Conversion
Apr 03, 2010 (LBO) – Sri Lankan glass maker, Piramal Glass Ceylon, a Sr has converted more than half of its long term rupee debt to dollar loans to cut finance costs, a senior official said. “We have recently in the last quarter converted our (rupee) loans to foreign currency loans,” Sanjay Tiwari, chief executive […]
Sri Lanka apparel exporter gets ready for carbon footprint rules
Apr 02, 2010 (LBO) – Sri Lankan apparel exporter Brandix said it is investing more to cut energy costs and carbon emissions and comply with anticipated laws in key markets requiring disclosure of carbon footprints of products. The group, which has invested four million US dollars on the initiative, said it has already reduced its […]
Indian designers go back to their roots as retro-chic rules
NEW DELHI, April 2, 2010 (AFP) – Raw silk, cotton, jute — India’s traditional fabrics are finding favour among top designers raring to break new ground in the highly competitive Indian fashion market. The tendency to ape Western cuts and style in recent years has seen the country’s own rich craftsmanship take a backseat. But […]
Sri Lanka Milk Foods starts new plant
Apr 02, 2010 (LBO) – Lanka Milk Foods (LMF), a milk powder packer which is part of Sri Lanka’s Distilleries group, said it has begun production at a new plant with a capacity of 9.5 million litres of cow milk. LMF acquired them in 2001 when it bought 90 percent of the shares of Ambewela […]