Author: lbostgadmin
Cheaper Calls
Nov 26, 2009 (LBO) – South Asian telecommunications regulators have decided to ask phone companies in the region to reduce international call charges, an official said.Priyantha Kariyapperuma, Director General of the Telecommunications Regulatory Authority of Sri Lanka, said the move, at a Colombo meeting of regional regulators, is intended to make overseas calls cheaper. All […]
Sri Lanka needs monetary tightening to head off inflation spike: economists
Nov 25, 2009 (LBO) – Sri Lanka’s inflation may top 10 percent next year unless corrective action is taken, and recent trends in the island’s most widely watched index should not make policymakers complacent, economists have said. Prices in Sri Lanka’s capital, measured by a revised Colombo Consumer Price Index, rose 1.4 percent in October […]
Sri Lanka says move to fair value accounting difficult
Nov 25, 2009 (LBO) – The global move towards fair value accounting might prove difficult for south Asian countries as they lack active markets to support such valuations, a senior Sri Lankan accountant said. Reyaz Mihular, chairman of the Accounting and Auditing Standards Committee of South Asian Federation of Accountants, said a key point of […]
India all out for 642 in second Sri Lanka Test
KANPUR, November 25, 2009 (AFP) – Venkatsai Laxman and Yuvraj Singh stroked half-centuries as India reached 642 all out shortly after tea on the second day of the second cricket Test against Sri Lanka here on Wednesday.Laxman (63) hit five fours on the way to his 41st Test half-century while Yuvraj cracked four boundaries and […]
‘s exports weak in September, deficit down
Nov 25, 2009 (LBO) – Sri Lanka’s exports fell 12.8 percent in September 2009 but imports fell at a steeper 36.1 percent shrinking the trade deficit 62.2 percent to 220.4 million US dollars, the Central Bank said. Remittances and net inflows of capital help expand the trade deficit while central bank’s contractionary sterilization activities which […]
Sri Lanka seeks to expand plantations
Nov 25, 2009 (LBO) – The Sri Lankan government wants to encourage rubber and coconut cultivation outside traditional areas of production, Plantations Industries Minister D M Jayaratne said.He said there was high demand for land to grow coconut in the east, after the end of the ethnic war made cultivation there commercially viable. The eastern […]
Sri Lanka stocks end weaker
Nov 25, 2009 (LBO) – Sri Lankan shares ended slightly weaker Wednesday in thin trade with investors taking profits in anticipation of further falls amid uncertainty created by forthcoming polls and, brokers and analysts said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price […]
‘re running out of gold: miners
MONTREAL, November 25, 2009 (AFP) – Gold production will continue to fall, despite a brief boost in 2009 and soaring prices, as deposits are exhausted and new discoveries remain elusive, say miners.“It’s not like a water tap you can turn on and it comes right away.” Barrick and Newmont expect nevertheless to continue increasing production […]
Sri Lanka bill yields flat
Nov 25, 2009 (LBO) – Sri Lanka’s Treasury bills yields were flat at this weeks auction, with the government rolling over 11.5 billion rupees of securities and raising 241 million rupees in fresh debt at Wednesday’s auction. The government’s debt office said the 3-month yield was 7.25 percent, the 6-month yield was 8.33 percent and […]
Sri Lanka foreign reserves US$5.2bn in November
Nov 25, 2009 (LBO) – Sri Lanka’s foreign reserves had climbed to 5.2 billion US dollars by November 20, helped by strong capital inflows and International Monetary Fund loans, the Central Bank said. Sri Lanka went to the IMF when reserves dipped to around a billion US dollars in March following an extended period of […]
Sri Lanka will not collect back taxes from war torn areas: official
Nov 25, 2009 (LBO) – Sri Lanka’s revenue office will not collect back-taxes from areas that have emerged from a 30-years war but will set up branches to start tax collection as economic activities pick up, an official said.“We are not trying to collect taxes due in previous years,” commissioner general of Sri Lanka’s Inland […]
Sri Lanka president calls snap election
November 23, 2009 (AFP) – Sri Lanka’s president Mahinda Rajapakse Monday announced he was calling a snap election to seek a second term, six months after his security forces defeated separatist Tamil Tiger rebels. President Rajapakse said in a statement that he was seeking a fresh mandate after completing four years in office out of […]