Author: lbostgadmin
Sri Lanka tea exporters press for import liberalisation
Jan 06, 2010 (LBO) – Sri Lankan tea exporters are pressing for liberalisation of tea imports for blending and re-export, saying it could help improve value-addition in the island and expand markets. Jayantha Keragala, chairman of the Tea Exporters Association, said exporters could increase earnings if more imports are allowed for blending and value-addition. Imports […]
Sri Lanka shares close down 0.30-pct, Rajaratnam sells JKH stake
Jan 06, 2010 (LBO) – Sri Lankan stocks closed lower Wednesday, with US fund manager Raj Rajaratnam selling part of his stake in John Keells Holdings (JKH) and retailers buying into hotels stocks on increasing tourist arrivals, brokers said. Aitken Spence Hotel Holdings closed at 299.75, up five rupees, Asian Hotels & Properties ended at […]
Sri Lanka treasuries yields up
Jan 06, 2010 (LBO) – Sri Lanka’s Treasury bill yields edged up marginally across maturities at Wednesday’s auction, the government’s debt office said. The 3-month yield moved up 04 basis points to 7. 77 percent, the 6-month yield also moved up 04 basis points to 8.77 percent and the 12-month yield moved up 02 basis […]
Sri Lanka central bank warns against reckless spending
Jan 05, 2010 (LBO) – Sri Lanka may be forced to print money and send inflation up again unless the state avoids reckless spending, which also takes away resources available for productive activities by the people, Central Bank Governor Nivard Cabraal has warned. “We have to be conscious that any money printing that can take […]
‘s main Tamil party backs ex-general
January 4, 2010 (AFP) – Sri Lanka’s main minority Tamil party on Monday backed the main opposition presidential candidate, Sarath Fonseka, who as army chief led the offensive that crushed Tamil rebels last year, officials said. Fonseka, a former four-star general who quit in November following differences with his political boss President Mahinda Rajapakse, pledged […]
Sri Lankan opposition vows to end emergency laws
January 5, 2010 (AFP) – Sri Lanka’s main opposition vowed on Tuesday to immediately end the state of emergency that has been in place on the island for 27 years if its presidential candidate wins this month’s election. The opposition’s candidate, Sarath Fonseka, will scrap the tough laws that have been in effect almost continuously […]
Sri Lanka tea imports fall
Jan 05, 2010 (LBO) – Tea imports for re-export by Sri Lanka, a major exporter, fell sharply last year as opposition by producers to importing teas remained strong, Tea Board and industry officials said. Tea Board officials said pressure by the producer sector on the regulator led to more stringent checks on imported teas which […]
Sri Lankan Airlines says airport check-in back to normal
Jan 05, 2010 (LBO) – Sri Lanka’s national carrier Sri Lankan Airlines said check-in at the Bandaranaike International Airport north of Colombo was back to normal and passengers need not come four hours ahead of departure. Airport officials said the congestion was caused at peak aircraft arrival and departure periods because immigration department officials had […]
Close Watch
Jan 05, 2010 (LBO) – Sri Lanka’s Central Bank intends to monitor more closely banking sector group companies to improve its supervision of financial institutions, Governor Nivard Cabraal said. The move is part of several measures being taken to better regulate the financial sector after several institutions, both regulated and unregulated, got into trouble in […]
Transport Links
Jan 05, 2010 (LBO) – The Asian Development Bank said the first batch of bidding documents for a road project it is funding in northern Sri Lanka is expected to be available this month. The proposed Northern Road Connectivity Project will cover repairs to about 120 km of national highways in the northern and north-central […]
Sri Lanka stocks close up 1.10-pct on blue chips gains
Jan 05, 2010 (LBO) – Sri Lanka’s benchmark All Share Price Index (ASPI) passed the 3,500 point mark for the first time Tuesday, on strong retail buying with blue chip stocks continuing to make gains, brokers said. Aitken Spence Hotels closed at 294.75 rupees, up 6.25, Galadari Hotels closed at 16.50 rupees, up 1.00, Hotel […]
Sri Lanka economy to grow 3.5-pct in 2009: CB Governor
Jan 04, 2010 (LBO) – Sri Lanka’s economy is expected to grow by 3.5 percent in 2009 after it slowed down owing to global recession, with revenue picking up and exports seen recovering, Central Bank governor Nivard Cabraal said. Cabraal said the full integration of the north and east which had been affected by war […]