Author: lbostgadmin
Sri Lanka tries solar power to pump water in remote villages
July 22, 2009 (LBO) – Use of solar power to pump water in remote Sri Lankan villages in a trial project designed by British engineers helps save fuel costs and could be replicated in other rural communities elsewhere, experts said.The project is now specifically used to rapidly re-settle people displaced by the conflict in the […]
Kalashnikov demand soars with violence in NW Pakistan
PESHAWAR, July 22, 2009 (AFP) – The price of a Kalashnikov assault rifle is soaring as militant groups and private militias mushroom in an increasingly battle-torn northwest Pakistan, arms dealers and buyers say. Civilians too, frightened by the upsurge in violence and citing a lack of government protection, are also forking out to arm themselves […]
Target Date
July 22, 2009 (LBO) – Millicom International Cellular, the parent of Sri Lanka’s Tigo celco, would complete the sale of its Asian operations by the first quarter of 2010, chief executive Mikael Grahne has said.“The disposal of our Asian assets is in progress and expression of interest have been received from a number of parties […]
Northern Links
July 22, 2009 (LBO) – Sri Lanka has drawn up plans to rebuild shattered road networks in the north and east costing over 750 million dollars for which it is seeking foreign funding, a senior government official said.The projects include highways linking the northern Jaffna peninsula with the south, two circular roads around the peninsula […]
Sri Lanka shares up, Lanka Cement draws interest
July 22, 2009 (LBO) – Sri Lankan shares ended firmer Wednesday, still riding the momentum generated by the government clinching a 2.5 billion dollar International Monetary Fund loan, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index rose 0.47 percent (11.71 […]
Sri Lanka Treasuries yields fall across maturities on IMF loan
July 22, 2009 (LBO) – Sri Lanka’s Treasuries fell across maturities at Wednesday’s auction with the 3-month yield falling 26 basis points to 10.79 percent, the government’s debt office said.In the first four months of the year, Sri Lanka had already run a 4.0 percent of GDP deficit, putting the country on a path to […]
Sri Lanka to get US$2.5bn IMF loan
July 21, 2009 (LBO) – Sri Lanka will get 313 million US dollars on July 24 as part of a 2.5 billion US dollar stand by loan running for 20 months, International Monetary Fund managing director Dominique Strauss-Kahn said. Under the program Sri Lanka was expected to improve its budgets, that had high deficits financed […]
Sri Lanka exporters to get incentives next month
July 21, 2009 (LBO) – Over 200 Sri Lankan firms have qualified for a government export incentive scheme the first payments of which are expected next month, but many claims have been rejected owing to errors in applications, officials said. “It is a reward to direct exporters in manufacturing processing industries who have survived the […]
Sri Lanka falter after bowling Pakistan for 299
July 21, 2009 (AFP) – Sri Lanka lost three quick wickets after they dismissed Pakistan for 299 on the second morning of the third and final cricket Test here on Tuesday.Malinda Warnapura was bowled first ball by Umar Gul and Tharanga Paranavitana was removed in similar fashion by Pakistan captain Younus Khan to make Sri […]
Sri Lanka air force launches commercial flights
July 21, 2009 (LBO) – Sri Lanka’s air force has started domestic commercial flights using aircraft freed from regular transport missions to support government troops with the end of the war against Tamil Tigers.Regular commercial flights to Jaffna began after the Tigers cut off the land route to the peninsula and are still in demand […]
Rice researchers say prices depend on US dollar
MANILA, July 21, 2009 (AFP) – A weak US currency is expected to put fresh pressure on rice prices just a year after a global supply crunch caused the cereal to rocket above 1,000 dollars a tonne, the International Rice Research Institute said.The situation “suggests that a falling dollar will keep rice (and commodity) prices […]
Sri Lankan stocks rally on IMF loan deal
July 21, 2009 (LBO) – Sri Lankan shares rallied Tuesday on news the government had secured a long-awaited loan from the International Monetary Fund (IMF) that brokers said could boost investor confidence and bring in more foreign investors. Share prices shot up over 2.5 percent in early morning trade as news broke the government had […]