Author: lbostgadmin
Sri Lanka sells US$190mn 2-year bonds
Aug 11, 2009 (LBO) – Sri Lanka has sold 190 million US dollars of 2-year bonds at an average yield of 449.8 basis points above the London interbank offered rate (LIBOR) the government’s debt office said. Today’s LIBOR rate was 0.91 percent, the debt office said. On June 19, Sri Lanka sold 115.8 million US […]
Sri Lanka foreign reserves US$1,556mn in June
Aug 11, 2009 (LBO) – Sri Lanka’s official foreign reserves without an advance to local banks were 1,556 million US dollars in June, up from 1,291 in May, with 270 million US dollars flowing in to rupee Treasuries so far this year, the Central Bank said.In July, with the approval of a 2.6 billion US […]
US gives food aid to speed up refugee settlement
Aug 10, 2009 (LBO) – The United States said it had donated another 15 million dollars of food to help resettle people displaced by Sri Lanka’s ethnic war whose early return to their homes Washington is pressing for. The US embassy said in a statement the aid through the US Agency for International Development (USAID), […]
Sri Lanka coast guard sets up bases
Aug 10, 2009 (LBO) – Sri Lanka’s new coast guard has begun setting up bases and will get vessels from the navy for initial patrol work to protect ocean resources and for maritime security, its director-general Daya Dharmapriya said. The coast guard will get vessels for both offshore and inshore patrolling and also intends to […]
Indian car sales jump 31 percent
NEW DELHI, August 10, 2009 (AFP) – Indian car sales jumped for a sixth straight month in July, climbing an annual 31 percent, as new launches and cheaper finance boosted demand, industry figures showed Monday. Domestic passenger car sales rose to 115,067 units in July from 87,901 units a year ago, the Society of Indian […]
”” futures: Indian FM
MELBOURNE, August 10, 2009 (AFP) – “Dubious” Australian colleges are ruining the future prospects of young Indian students and trashing the country’s reputation abroad, India’s foreign minister said in comments published Monday.S.M. Krishna, visiting Australia to express concern over a wave of street assaults on Indian students, said there was concern in New Delhi about […]
Tele Calls
Aug 10, 2009 (LBO) – Profits of Sri Lanka Telecom group, fell 75 percent to 375 million in the June 2009 quarter, while revenues stayed flat at 11.74 billion rupees, with growth in data and mobile sectors, the company said. Operating costs rose 26 percent to 7.39 billion rupees, partly on account of Mobitel network […]
Financial Reality
Aug 10, 2009 (LBO) – Sri Lankan commercial banks which seem to enjoy wide interest margins on the surface have low profitability, amid high taxation and rising bad loans, a senior banker has warned.“Capital providers would probably not think of banks as a prime sector to invest in this market” Nihal Fonseka, chief executive of […]
Sri Lankan shares down 0.27-pct
Aug 10, 2009 (LBO) – Sri Lankan share prices fell Monday, dragged down by index heavy blue chips as investors stayed away, waiting for corporate earnings, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.27 percent (6.76 points) to end at 2,522.77 Monday, while the Milanka index of liquid stocks lost […]
Sri Lanka collects US$739.35mn US dollars since float
Aug 10, 2009 (LBO) – Sri Lanka’s central bank has collected 289.10 million US dollars from forex markets in July, bringing the total to 739.35 million US dollars since the float of the currency in March, the latest official data shows. The IMF has put in conditions to prevent inconsistent policy in the future, requiring […]
Canada triples aid to Sri Lanka
MONTREAL, August 8, 2009 (AFP) – Canada has decided to triple its humanitarian aid to Sri Lanka to assist people displaced by the country’s conflict with Tamil separatists, Canada’s top development minister said Saturday. The move came after Minister of International Cooperation Beverley Oda spent three days visiting the island nation and will take Canada’s […]
New IMF loan insufficient for Pakistan problems: economist
KARACHI, August 8, 2009 (AFP) – Pakistani economists on Saturday said an additional 3.2 billion dollar loan from the IMF would have little impact on the economic problems facing the cash-starved South Asian country.The International Monetary Fund on Friday said it had approved an additional 3.2 billion dollar loan to Pakistan after it asked for […]