Author: lbostgadmin
Risk Cover
Dec 08, 2009 (LBO) – The Asian Development Bank (ADB) said it has signed trade finance agreements with three Sri Lankan banks that will help them provide loans and guarantees to exporters and importers.“Nevertheless, companies in emerging markets, particularly small and medium-sized firms, have typically faced difficulties in accessing enough credit to fill export orders […]
Sri Lanka central bank in 5-year investment horizon for gold
Dec 07, 2009 (LBO) – Sri Lanka is looking at a 5-year horizon for its reserve investments in gold, Central Bank governor Nivard Cabraal said as gold hit historic highs against the dollar amid unprecedented US money printing.Gold hit 1,200 against the Federal Reserve unit amid unprecedented loose monetary policy pursued by the Fed. There […]
Sri Lanka former child soldiers meet UN envoy
December 7, 2009 (AFP) – A top United Nations envoy for children held talks with senior Sri Lankan officials on Monday after meeting former child soldiers, an official said.Major General Daya Ratnayake, Sri Lanka’s commissioner general of rehabilitation, said around 11,000 former rebel fighters, including children, were undergoing vocational training at state-run centres.Retired Major General […]
Guarantee Status
Dec 07, 2009 (LBO) – Finance and Guarantee Company Limited, a regulated finance company in the troubled Ceylinco group will be renamed The Island Finance Company, the Central Bank said. The company suffered liquidity constraints in the wake of the crisis in the Ceylinco Group and its day to day operations were restricted following legal […]
War Risk
Dec 07, 2009 (LBO) – Sri Lanka is sending a team of shipping and navy officials for talks with London underwriters to get the island off the war risk insurance rating list, shipping officials said. The team would seek a fresh risk evaluation following the end of the ethnic war and removal of the island […]
Cargo Screening
Dec 07, 2009 (LBO) – A US decision to extend the deadline for scanning all containers entering the country will afford relief to Sri Lankan exporters who had been concerned it would cause delays and raise costs.A new report by the US Government Accountability Office (GAO) said the Customs and Border Protection has made relatively […]
Sri Lankan shares up 0.83-pct
Dec 07, 2009 (LBO) – Sri Lankan shares closed up Monday with retailers taking profits on small and medium counters, while large capped stocks headed by selected high value blue chips pushed the bourse up, brokers said. The All Share Price Index closed at 3,025.37 up 0.83 percent (25.04 points) while the Milanka Price Index […]
India on top of the world after mauling Sri Lanka
MUMBAI, December 6, 2009 (AFP) – India became the number one Test team on Sunday after routing Sri Lanka by an innings and 24 runs in the third and final cricket Test in Mumbai to clinch the series 2-0.Pace spearhead Zaheer Khan took 5-72 as Sri Lanka, trailing by 333 runs on the first innings, […]
Sri Lanka, India captains clash on umpire reviews
MUMBAI, December 6, 2009 (AFP) – Sri Lankan captain Kumar Sangakkara on Sunday called for the umpires’ review system to be made mandatory after India defeated his side 2-0 in the Test series.But his Indian counterpart Mahendra Singh Dhoni was not in favour of the umpires’ review system, saying it was not “100 percent fool-proof.” […]
Sri Lanka power utility sells assets to military
Dec 06, 2009 (LBO) – A housing facility built by contractors for a hydro electric dam project will be sold by the state-run Ceylon Electricity Board (CEB) to the military, the government has said.The cabinet of ministers had given the nod for the housing complex built for Swedish expatriates who worked at the Kukule river […]
Dubai faces gradual exodus of migrant workers
DUBAI, December 6, 2009 (AFP) – Construction worker Bilal is in a happy mood as he takes his lunch break sitting next to an artificial lake near Dubai’s showpiece Mall of the Emirates.But he admits anxiety about the end of his contract in one year’s time, when the 24-year-old may have to return to Bangladesh. […]
UN View
GENEVA, December 4, 2009 (AFP) – The UN refugee agency said on Friday that it was encouraged by “increased freedom of movement” for war-displaced civilians in Sri Lanka who have been in internment camps in the north of the island. “We are encouraged by the Sri Lankan government’s long-awaited decision this week to allow increased […]