Author: lbostgadmin
Sri Lanka tea output recovers in April
May 25, 2009 (LBO)- Sri Lanka’s total tea production in April 2009 shows an increase compared with the same month a year ago, indicating the crop is recovering from the effects of severe drought earlier this year.The Sri Lanka Tea Board said total tea production in April was 29.2 million kilos, up 4.8 percent from […]
Safe Harbour
May 25, 2009 (LBO) – Sri Lanka is to lobby Lloyd’s of London to remove a war risk tag on the country which kept insurance premiums high, following defeat of Tamil Tigers by the military last week, a media report said. The Island newspaper said Sri Lanka is classified as a ‘region of war’ by […]
Sri Lankan stocks down, rupee steady
May 25, 2009 (LBO) – Sri Lankan shares Monday shed some of the gains of last week’s bull-run owing to profit taking and concern over poor corporate results, while the rupee remained rock-steady against the dollar, brokers and dealers said.Sri Lanka’s largest privately held bank, Commercial Bank of Ceylon lost 1.50 rupees to close at […]
Sri Lanka lifts forex forward curbs
May 25, 2009 (LBO) – Sri Lanka’s central bank Monday lifted restrictions on foreign exchange forward contracts imposed late last year amid a balance of payments crisis, allowing the market to act freely, a top official said. The IMF loan has been delayed amid political wrangling from the US in particular, but the lenders said […]
China releases stimulus spending data
BEIJING, (Asia Pulse) – China’s economic planning body released a breakdown Thursday of how the government’s 4 trillion yuan (US$586 billion) of stimulus funding was being spent. Since the stimulus package was unveiled in November, 230 billion yuan had been used as of the end of April, the National Development and Reform Commission (NDRC) said […]
Sri Lanka says aid access only after screening
May 24, 2009 (AFP) – Sri Lanka said Sunday it would allow UN aid workers access to civilians who remain in camps after the defeat of the Tamil Tigers, but only once rebels hiding among the refugees had been weeded out.UN Secretary General Ban Ki-moon, on a visit to one camp housing 200,000 Tamils, had […]
Sri Lanka to restrict aid until rebels screened out
May 24, 2009 (AFP) – Sri Lanka said Sunday it would not allow aid workers complete access to civilians who remain held in camps after the defeat of the Tamil Tigers until rebels hiding among the refugees had been weeded out.United Nations Secretary General Ban Ki-moon, on a visit to one camp housing 200,000 Tamils, […]
Australian navy intercepts refugee boat: minister
MELBOURNE, May 24, 2009 (AFP) – The Australian navy intercepted a refugee boat with 77 people aboard Sunday off the country’s northwest coast, Home Affairs Minister Bob Debus said. The boat is the 13th suspected people-smuggling craft to have been stopped in Australian waters or to have made landfall since January, prompting criticism from the […]
Foreign institutions invest over US$3bn in Indian bourses in 2009
NEW DELHI, (Asia Pulse) – Foreign Institutional Investors’ (FIIs) inflow into the Indian stock markets has crossed the US$3 billion mark (over Rs 15,725 crore) so far this year, with as much as US$2 billion coming in just five trading sessions. Since the beginning of new fiscal year, FIIs have started putting money in domestic […]
Bare Facts
May 23, 2009 (LBO) – The primary objective of a central bank is to stabilise the value of its currency and continue to maintain that stability to facilitate long term economic growth. There could be other ancillary objectives assigned to a central bank, such as providing liquidity to the government to bridge its revenue and […]
UN chief in Sri Lanka amid fears for civilians
May 22, 2009 (AFP) – UN chief Ban Ki-moon arrived Friday in Sri Lanka to press for humanitarian access to civilians displaced by the separatist conflict, as the island’s president dismissed international concerns.Ban is the first world leader to visit since Colombo’s assertion earlier this week that the Tamil Tigers’ bloody decades-long crusade for an […]
Guardian Change
May 23, 2009 (LBO) – The Merchant Bank of Sri Lanka (MBSL) has been appointed as managing agents of the troubled The Finance Company (TFC), taking over from another state-owned entity, Lankaputhra Development Bank (LDB), the Central Bank said. It said in a statement that Lankaputhra Bank had stabilized the situation at TFC and brought […]