Author: lbostgadmin
Umbilical Link
July 17, 2009 (LBO) – A proposal to build a bridge linking Sri Lanka and Indian across the Palk Straits is to be discussed at a meeting of south Asian transport ministers in Colombo, a senior official said.Amal Kumarage, chairman of the island’s National Transport Commission, said the bridge will help Sri Lanka regain its […]
Sri Lankan stocks up 1.35-pct during week
July 17, 2009 (LBO) – Sri Lankan shares closed up Friday with renewed interest on some selected blue chips, while retailers were seen actively going after plantation, hotels, and medium and small capped stocks, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 1.03 percent (24.47 points) to end at 2,395.02 Friday, […]
Fed sees end to recession, eyes exit strategy
WASHINGTON, July 16, 2009 (AFP) – The Federal Reserve signaled Wednesday it sees an end this year to the brutal recession and hinted that it was preparing an “exit strategy” for its unprecedented stimulus efforts.The central bank raised its outlook for 2009 and 2010 economic output, projecting a rebound in the second half of 2009 […]
Sri Lanka calls for debt relief, non-aligned emergency lender
July 16, 2009 (LBO) – Developing countries need debt relief to overcome a global economic slump, and a non-aligned emergency bailout fund, Sri Lanka’s president Mahinda Rajapaksa has said.“The world is today confronted by a crisis that is essentially the creation of the financial markets of certain developed countries,” President Rajapaksa said in the published […]
Liquid Option
July 16, 2009 (LBO) – Depositors of a collapsed Sri Lankan financial firm should seek its liquidation under civil law to realize assets while criminal proceedings may put pressure on directors surrender other assets, a senior lawyer has said. “But in my view there is a limit to what could be realized and in my […]
Permit Fever
July 16, 2009 (LBO) – Private bus operators in Sri Lanka are clamouring for permits to ply the northern Jaffna route with the end of a drawn out civil conflict, Amal Kumarage, chairman of the island’s National Transport Commission said. Government forces defeated the Tamil Tiger rebels in May after a lengthy military campaign and […]
Sri Lankan stocks close down 0.2-pct
July 16, 2009 (LBO) – Sri Lankan shares closed down on Thursday, as retail investors took profits on mid cap stocks and index heavy blue chips, brokers said. The benchmark Colombo All Share Price Index closed down 0.27 percent (6.30 points) to end at 2,366.74, while the Milanka index of liquid stocks gained 0.61 percent […]
Sri Lanka on road show to stir up debt buyers
July 16, 2009 (LBO) – Investors who met a Sri Lanka government team who are on a road show ahead of a possible debt deal are bullish on the country’s prospects after the end of a 30-year war, a top official said. “Many investors are interested in the Sri Lanka situation and are quite bullish […]
Sri Lanka interbank excess liquidity increases
July 15, 2009 (LBO) – Sri Lanka’s interbank excess liquidity rocketed by more than 20 billion rupees this week, with fresh injections of central bank credit to the system in the manner of a quantity easing exercise.Excess liquidity in the banking system increased from 5.4 billion rupees Friday to 26.3 billion rupees Monday, but the […]
Sri Lanka anchor currency inflation -1.4-pct in June
July 15, 2009 (LBO) – Inflation of Sri Lanka’s anchor currency, the US dollar, measured by the all urban consumer (CPI-U) index fell 1.4 percent in June from a year earlier, the Bureau of Labour Statistics said. In the month of June, inflation of the Sri Lanka rupee measured by the Colombo Consumer Price Index […]
Sri Lankans urged to fight for right to information
July 15, 2009 (LBO) – An Indian political activist has urged Sri Lankans to be more demanding of their right to information, saying that was how the public in India won greater access to information and more government accountability. “The right to information campaign started with a peasant movement asking for the Panchayati (village assembly) […]
‘s triumphant Sangakkara takes nothing for granted
July 15, 2009 (AFP) – Kumar Sangakkara on Wednesday celebrated victory over Pakistan in his first series as Sri Lanka’s captain with a warning to team-mates to guard against future setbacks. “It’s true you have got to enjoy the good times, but you need to make sure that the team is prepared to face the […]