Author: lbostgadmin
New Zealand push to play Sri Lanka in USA
WELLINGTON, February 13, 2010 (AFP) – New Zealand is poised to lead the way into the potentially lucrative United States cricket market with confirmation Saturday that talks are underway to play Sri Lanka in Florida this year. A “strategic partnership” has been formed with USA Cricket which will be of commercial benefit to both parties, […]
Appointment
Feb 13, 2010 (LBO) – Sri Lanka’s central bank said P D J Fernando, a senior official with 33 year’s of experience has been appointed deputy governor. He had been assistant governor for five years, and is a director of Lankaclear, Sri Lanka’s central checque clearing house and state-run Lanka Puthra Development Bank. The Central […]
Northern Finance
Feb 13, 2010 (LBO) – Sri Lanka’s central bank is planning a 100 million US dollar re-finance fund for the northern Jaffna peninsular which is seeing an economic revival after a highway to the south was opened with the end of a decades long conflict. The Northern Regional Development Fund will channel loans to businesses […]
Sri Lanka eyes 10-year sovereign bond
Feb 13, 2010 (LBO) – Sri Lanka is eyeing a 10-year 500 million US dollar sovereign bond after May 2010 when funding needs becomes clear after a budget is passed in April, an official said. Sri Lanka has sold two 500 million US dollar sovereign bonds in 2007 and 2009 with a 5-year maturity. “We […]
Sri Lanka opposition urges Rajapakse to free rival
February 12, 2010 (AFP) – Sri Lanka’s main opposition pressed President Mahinda Rajapakse on Friday to release detained presidential candidate and former army chief Sarath Fonseka. Opposition leaders say Fonseka was arrested on Monday as he was talking with them about the possibility of running in upcoming legislative elections. President Rajapakse dissolved parliament on Tuesday […]
Leave
February 12, 2010 (AFP) – Sri Lanka’s Supreme Court agreed Friday to hear a challenge to the arrest of defeated presidential candidate Sarath Fonseka, as opposition parties stepped up a campaign for his immediate release. The court accepted a petition by Fonseka’s wife requesting that his arrest be ruled illegal, and ordered the state to […]
Sri Lanka seeks lower Russian import duty on tea
Feb 12, 2010 (LBO) – Sri Lanka has asked Russia, the biggest importer of Ceylon tea, to reduce import duty on value-added tea exports, a senior minister said. Export Development and International Trade Minister Gamini Peiris said the issue was discussed when Sri Lankan president Mahinda Rajapaksa held talks with his Russian counterpart Dmitry Medvedev […]
Sri Lanka Keells Hotels December net soars
Feb 12, 2010 (LBO) – Sri Lanka’s John Keells Hotels said net profit for the December quarter shot up 471 percent to 83 million rupees from a year ago as tourism recovered from the effects of recession and a war. Revenue rose seven percent to 1.6 billion rupees, the company, part of the John Keells […]
Sri Lanka tourist arrivals up 31-pct in January
Feb 12, 2010 (LBO) – The number of tourists visiting Sri Lanka rose sharply in January with a recovery in traditional Western European markets and more visitors from newer south Asian markets after the end of the war. Latest data from the government tourism authority showed arrivals rose 31.9 percent to 50,757 in January 2010, […]
Financial Links
Feb 12, 2010 JAFFNA (LBO) – A branch of HSBC which opened in Sri Lanka’s northern Jaffna peninsular will strengthen financial ties with the rest of the country and the world as the area recovers from a debilitating war, officials said. A 30-year war with Tamil Tiger separatists Sri Lanka’s north and east ended in […]
Sri Lanka stocks end down 0.40-pct
Feb 12, 2010 (LBO) – Sri Lankan shares ended weaker Friday, dragged down by more profit taking following the recent rally and the fall in the prices of shares with a big weighting on the indices, brokers said. In one, 62,000 shares of John Keells Holdings were traded at 162 rupees each. John Keells Holdings […]
Sri Lanka IMF program to depend on budget: resident rep
Feb 11, 2010 (LBO) – The International Monetary Fund is looking at the direction of fiscal reforms to be set by a budget in April to continue its program in Sri Lanka, an official said ahead of a mission due in the island this month. Sri Lanka went for a program with the IMF in […]