Author: lbostgadmin
Sri Lanka appoints matchmaker for investors in former war zone
Aug 01, 2009 (LBO) – Sri Lanka’s investment promotion ministry has set up a help desk to promote investments in the island’s former war zone in the north and east, investment promotion minister Anura Yapa said.The unit will help promote business links between the northern and eastern regions and the rest of the country, he […]
” rating, to closely watch forex trading
Aug 01, 2009 (LBO) – Sri Lanka’s Nations Trust Bank’s ‘A(lka)’ rating has been confirmed with a ‘stable’ outlook by Fitch Ratings, following an 800 million US dollar forex loss, which had resulted in tighter monitoring. But open positions had been created and maintained within the foreign currency banking unit due to lack of independent […]
‘ case reported to ICC
KARACHI, August 1, 2009 (AFP) – Pakistan’s cricket board said Saturday it had made a report to the sport’s governing body about bookmakers trying to approach players during its ongoing tour in Sri Lanka.The move followed a report in Pakistan’s leading Urdu daily “Express” earlier this week alleging bookmakers were seen trying to make contact […]
Kapugedera guides Sri Lanka to victory
DAMBULLA, August 1, 2009 (AFP) – Chamara Kapugedera hit an unbeaten 67 as Sri Lanka overcame early shocks to defeat Pakistan by six wickets in the second one-day international here on Saturday. Thilan Thushara and Muttiah Muralitharan shared five wickets as Sri Lanka bowled out Pakistan for 168 runs and then surpassed the modest target […]
Organic Growth
Aug 01, 2009 (LBO) – Software giant Microsoft’s Sri Lanka unit, in the news because of widespread piracy here and its high product prices, is focused on spreading computer literacy to grow its business at double digit rates, officials said. The proprietary software maker, whose operating systems run 90 percent of computers worldwide, only has […]
Unhedged Constraint
Aug 01, 2009 (LBO) – The Sri Lanka unit of Standard Chartered Bank has retained its ‘AAA(lka)’ rating from Fitch, but the agency said its capital was hurt by a bad loan originating from oil derivative sales to a state-run oil distributor. The rating had a ‘stable’ outlook and reflected the financial strength of Standard […]
Sri Lanka would have got money if IMF did not come through: Indian official
July 31, 2009 (LBO) – Sri Lanka would have got bilateral help if the International Monetary Fund did not cough up the cash, but the island now had an opportunity to ride on the endorsement by keeping to its targets, a top Indian official has said. Positive Message Though bilateral partners can pump money they […]
Sri Lanka says no subsidy cuts for IMF loan
July 31, 2009 (LBO) – Sri Lanka’s government has not agreed to cut subsidies such as for fertiliser to get a 2.6 billion dollar loan from the International Monetary Fund, media minister Anura Yapa said. “We are committed to reducing budget the deficit to five percent in 2011 which is meant to help promote economic […]
Sri Lanka inflation accelerates to 1.1-pct in July
July 31, 2009 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 1.1 percent in July from a year earlier, with the price index moving up 0.4 percent in the month, the government’s statistics office said.In June prices hit a low of 0.9 percent from a year earlier. Prices fell in absolute terms for […]
Sri Lanka to table IMF loan papers in parliament
July 31, 2009 (LBO) – Sri Lanka’s government will table in parliament all documents related to a 2.6 billion dollar loan from the International Monetary Fund, junior finance minister Ranjith Siyambalapitiya said.The government also intends to make savings on defence spending, which has sharply reduced after security forces defeated the Tamil Tiger separatists in May. […]
Sri Lanka film in Venice festival line-up
July 30, 2009 (LBO) – “Ahasin Wetei” (Between two worlds), a film by Sri Lankan film maker Vimukthi Jayasundara will be among those competing for the Golden Lion award at this year’s Venice film festival, AFP quoted organisers as saying Thursday.Among the competitors is Michael Moore’s film on the financial crisis and the directorial debut […]
‘s Muralitharan announces Test retirement
DAMBULLA, July 30, 2009 (AFP) – Sri Lanka’s world bowling record holder Muttiah Muralitharan said Thursday he will quit Test cricket next year, but continue to play limited-overs cricket.The 37-year-old off-spinner, with a record 770 Test and 507 one-day wickets, announced that he would play his last two Tests in the series against the West […]