Author: lbostgadmin
Sri Lanka mortgage bank plans term debenture
Jan 08, 2010 (LBO) – Sri Lanka’s Housing Development and Finance Corporation (HDFC) is planning a medium term debenture to be sold during the first quarter of the year to cut funding costs, an official said. The debenture, which is yet to be valued, will be for a period of 5 to 7 years, Suresh […]
Sri Lanka private citizen pension fund promised real returns
Jan 07, 2009 (LBO) – Sri Lanka’s largest state-managed pension fund, made out of forced savings of private citizens, will be given returns above inflation an official said, amid rising concerns over real losses made in recent years. “We will establish a sound risk-return profile to establish a positive real rate of return over the […]
Sri Lanka refugees gets emergency help
June 09, 2010 (LBO) – A refugee resettlement program backed by a 65 million US dollar World Bank emergency credit will begin this month, reaching over 100,000 people in Sri Lanka’s north, the government said. But the government has now re-settled most of them. “The project is to support for re-settlement and the re-establishment of […]
Sri Lanka presidential challenger vows press freedom
January 7, 2010 (AFP) – Sri Lanka’s former army chief on Thursday launched his manifesto for the January 26 presidential elections, promising greater press freedom and a battle against rampant corruption. Sarath Fonseka, 59, the main opposition challenger to President Mahinda Rajapakse, said he would scrap the press council which is empowered to shut down […]
‘s father dies in custody: official
January 7, 2010 (AFP) – The elderly father of Sri Lanka’s slain Tamil rebel chief Velupillai Prabhakaran has died in military custody, officials said Thursday. Thiruvenkadam Velupillai, believed to be in his early 80s, died on Wednesday at an army base outside Colombo, a military official said, adding that he had been in “protective custody” […]
Sri Lanka December tourist arrivals up 16-pct, annual up 2-pct
Jan 07, 2010 (LBO) – Sri Lanka’s December tourist arrivals rose 16.2 percent to 56,862 from a year earlier as travel warnings were removed while annual visitors grew 2.1 percent to 447,890, tourist promotion office data showed. India retained its position as the top market for generating visitors last year, with the UK remaining in […]
Sri Lanka stocks fall on profit-taking
Jan 07, 2010 (LBO) – Sri Lankan shares ended slightly lower Thursday as profit taking interrupted the steady rise in the bourse which was Asia’s best performing last year, brokers and analysts said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index closed […]
Sri Lanka long term Treasuries holders can earn fee income: CB Governor
Jan 07, 2009 (LBO) – Sri Lanka’s central bank will borrow Treasuries from long term fund for money market operations, giving pension and insurance firms a chance to make more fee income, Governor Nivard Cabraal said. By late 2009 the Central Bank ran out of Treasury bills, though the stock rose during December towards 30 […]
Sri Lankan farmers link up with private companies for better prices
Jan 06, 2009 (LBO) – Sri Lankan farmers in Anuradhapura have linked up with supermarket chains Keells and Plenty Foods, giving them better prices and steady markets for their produce. The renovated centre will also benefit 3000 members of the Kebithigollawa Integrated Rural Development Organization through increased revenues as a result of this program and […]
‘s ex-army chief gains poll edge with Tamil backing
January 6, 2010 (AFP) – Sri Lanka’s former army chief received a boost to his presidential ambitions Wednesday when minority Tamil parties said they would back him against incumbent Mahinda Rajapakse in polls later this month. Fonseka and Rajapakse have been at loggerheads since the end of the conflict. Fonseka quit after accusing the government […]
Samaraweera fires Sri Lanka to victory
DHAKA, January 5, 2010 (AFP) – Thilan Samaraweera smashed a career-best 105 not out to guide Sri Lanka to a five-wicket win over India in a triangular one-day series match here on Tuesday. The middle-order batsman hit 11 fours in his 106-ball knock for his second one-day hundred as Sri Lanka surpassed India’s 279-9 with […]
Sri Lanka debate over inflation: rice price crisis
Jan 06, 2010 (LBO) – Rice, the staple food of Sri Lankans, is in short supply and its price is on the increase. At retail shops, many popular varieties of rice are not available. Rice available at controlled prices is of inferior quality. Free Market and Government’s Interventions In a free market situation, such a […]