Author: lbostgadmin
Sri Lanka stocks 0.71-pct down
Feb 16, 2010 (LBO) – Sri Lankan stocks closed lower Tuesday dragged down by the fall in prices of shares which had rallied on speculation, while selected blue chip stocks made gains, brokers said. The All Share Price Index closed at 3,691.04, down 26.47 points while the Milanka index of more liquid shares fell 0. […]
Sri Lanka foreign reserves lower at US$5.0bn in December
Feb 16, 2010 (LBO) – Sri Lanka foreign reserves eased to 5,067 million US dollars in December 2009, from 5,228 million US dollar in November which was equal to about 6. 2 months of imports, the Central Bank said. From October the central bank started injecting domestic liquidity which halted the foreign reserves collection process. […]
Sri Lanka budget deficit hit 8.5-pct of GDP for 10-months
Feb 15, 2010 (LBO) – Sri Lanka’s budget deficit has hit an estimated 8.5 percent of gross domestic product (GDP) in the first ten months of the year, despite a recovery in revenues as expenses grew at a faster pace, the latest data showed. Up to October the government was able to borrow domestically without […]
EU to cut Sri Lanka trade benefits over rights
BRUSSELS, February 15, 2010 (AFP) – European Union nations decided Monday to withdraw preferential trade benefits from Sri Lanka due to “significant shortcomings” on human rights issues, the EU Commission announced. Sri Lanka gains about 150 million dollars annually due to preferential tariffs, according to trade estimates. The island’s clothing industry is the main beneficiary, […]
Sri Lanka lawyers criticise government over crackdown
February 15, 2010 (AFP) – Lawyers in Sri Lanka accused the government Monday of illegally suppressing protests at the arrest of former army chief Sarath Fonseka. On Sunday, the heads of Sri Lanka’s influential Buddhist clergy backed opposition demands for the immediate release of Fonseka, a decorated war hero who helped crush Tamil Tiger rebels […]
Sri Lanka cuts online tea export documentation charge
Feb 15, 2010 (LBO) – Sri Lanka intends to cut automated tea export document processing charges, reducing costs for shippers of the island’s main export commodity and making them more competitive, officials said. Sri Lanka’s electronic export documentation project is, however, years behind schedule and exporters say the island is far behind other trading nations […]
Cell Meet
BARCELONA, February 15, 2010 (AFP) – The mobile phone industry’s biggest event opens Monday as it begins to emerge from the global economic crisis with the promise of new devices that will revolutionise the way people communicate. Global shipments of handsets had been falling every quarter since the third quarter of 2008, when the global […]
Tele Trend
Feb 15, 2009 (LBO) – Sri Lanka Dialog Telecom lost 2.2 billion rupees in the December 2009 quarter down from a 3.9 billion rupees loss a year earlier, while full year losses hit 12.2 billion rupees as the firm took large write offs during the period. Revenues had grown 12 percent from a quarter earlier […]
Sri Lankan shares close 0.2-pct higher
Feb 15, 2010 (LBO) – Sri Lankan stocks closed up 0. 2 percent Monday but an index of liquid shares fell as investors sold blue chips, brokers said. The All Share Price Index closed at 3,717.51, up 0.20 percent (7.54 points) while the Milanka index of more liquid shares fell 0.48 percent (20.05 points) to […]
Sri Lanka monks back arrested ex-army chief
February 14, 2010 (AFP) – Leaders of Sri Lanka’s influential Buddhist clergy backed opposition demands Sunday for the immediate release of former army chief and defeated presidential candidate Sarath Fonseka. Top monks representing four sects made a joint appeal to President Mahinda Rajapakse to free Fonseka who was arrested last Monday by the military on […]
Net Monitoring
Feb 14, 2010 (LBO) – Sri Lanka’s telecom regulatory authority has not received orders to devise a law to control internet news websites, though monitoring cannot be ruled out in the future, a top official said. “There is nothing in the cards,” Anusha Pelpita, director general the Telecom Regulatory Commission of Sri Lanka (TRC) said. […]
‘s arrest
February 13, 2010 (AFP) – Sri Lanka’s president said Saturday there was no reason for concern over the arrest and detention of ex-army chief and defeated presidential candidate Sarath Fonseka. President Mahinda Rajapakse has promised “due process” will be followed in dealing with Fonseka, the president’s website said. Fonseka was arrested Monday by military police […]