Author: lbostgadmin
Protestors clash over Fonseka outside Sri Lanka court
February 10, 2010 (AFP) – Sri Lankan police fired tear gas Wednesday as opposition and ruling party activists clashed outside Colombo’s main court complex over the arrest of defeated presidential candidate Sarath Fonseka. Witnesses said anti-riot squads moved in after ruling party supporters pelted stones at thousands of opposition demonstrators demanding the release of former […]
Sri Lanka war returnees get US support
Feb 10, 2010 (LBO) – The United States government has given more aid to help Sri Lankans returning to their homes in the former northern war zone and speed up their resettlement, the US embassy said. It said in a statement the aid agency United States Agency for International Development has given 343 million rupees […]
’ 30-pct: expert
Feb 10, 2010 (LBO) – Sri Lanka’s loss-making state power utility, whose rates have been held below cost by successive governments for political reasons, is running a ˜tariff deficit’ of 30 percent, an expert said. Breakeven is not the end of the story but another stage in the process of a more comprehensive tariff reform […]
Sri Lanka rural businesswomen helped by Gap
Feb 10, 2010 (LBO) – Sri Lankan women entrepreneurs in two rural districts are getting soft loans and technical help under a program support by an international apparel firm, the island’s largest business chamber said. The Ceylon Chamber of Commerce through its ‘Youth Business Sri Lanka’ program offers a concessionary credit facility for business start-ups […]
Easy Financials
Feb 10, 2010 (LBO) – An accounting control software which only needs a web browser to access and operate an organization’s financial system has been developed jointly by UK-based Proteus Software and Kingslake of Sri Lanka. Kingslake Sri Lanka in partnership with IBM and a leading local telecommunications company would provide the software for a […]
Bank Health
Feb 10, 2010 (LBO) – Sri Lanka’s banks have been hit by bad loans in 2009, but have maintained required capital levels and asset quality is improving with the help of low inflation and interest rates, a report by the regulator said. Sri Lanka’s licensed commercial banks have maintained Tier one capital at 11.4 percent […]
Sri Lankan shares close 0.29-pct down
Feb 10, 2010 (LBO) – Sri Lankan shares slid Wednesday as foreign investors continued to take profits after a rally that drove prices to new highs while interest on mid-cap stocks like Kshatriya Holdings sent turnover past 2.3 billion rupees, brokers said. Nawaloka Hospitals closed at 3. 30 rupees, down 20 cents, Ceylon Hospitals closed […]
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Feb 10, 2010 (LBO) – Sri Lanka’s central bank has become a net seller in foreign exchange markets as monetization of the government’s cash deficit has increased amid private credit expansion, the latest data shows. The currency was later re-pegged at around 114. 50 to the US dollar with the help of liquidity withdrawals. Sri […]
Sri Lanka 3-month bill yield up
Feb 10, 2010 (LBO) – Sri Lanka’s 3-month Treasury bill yield moved up 08 basis points to 8. 07 percent at Wednesday’s auction while 6 and 12-month bill were steadier, the government’s debt office said. In recent weeks, interest rates have been high enough to roll-over the entire bill stock to real buyers. The 6-month […]
Sri Lanka wraps up US$300mn arms loan with Russia: report
Feb 09, 2010 (LBO) – Sri Lanka has wrapped up a 300 million US dollar loan to buy “armaments and dual purpose technology” from Russia during a visit by President Mahinda Rajapaksa, a media report said. Russia and China have been the main arms suppliers to Sri Lanka during a 30-year war with Tamil Tiger […]
Oil Target
Feb 09, 2010 (LBO) – Gazprom, a Russian oil firm, has held discussions with visiting Sri Lanka president Mahinda Rajapaksa on exploring for oil off the coast of the Indian Ocean island. Cairn has incorporated a local firm to begin oil exploration. Cairn India said the 3D seismic surveys by its local unit, Cairn Lanka, […]
‘s defeated presidential candidate arrested
February 8, 2010 (AFP) – The defeated candidate in Sri Lanka’s presidential vote, former army chief Sarath Fonseka, was arrested Monday hours after vowing to give evidence before any war crimes tribunal. State media said Fonseka, who led the army to victory over Tamil Tiger rebels last year, ending a bloody 37-year insurgency, was taken […]