Author: lbostgadmin
Sri Lanka inflation slows to 2.9-pct in April
April 30, 2009 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo, in the 12-months to April slowed to 2.9 percent from 5.3 percent in March, with prices declining for the seventh straight month, the statistics office said.The Colombo Consumer Prices Index (CCPI) has been declining on an absolute basis from October after peaking at […]
Sri Lanka begins re-settling war displaced
April 30, 2009 (AFP) – About 400 Sri Lankan civilians returned home on Thursday two years after being forced to flee by fighting in the country’s ethnic conflict, the United Nations refugee agency said. Sri Lanka’s Disaster Management Minister Mahinda Samarasinghe said the government was hoping to resettle all Tamil civilians within a year as […]
Volatile Prices
April 30, 2009 (LBO) – Sri Lanka’s two liquid petroleum gas suppliers, a unit of multinational Shell Gas, and the locally owned Laugfs Gas, said they will raise prices from midnight Thursday.It said prices were cut in November 2008 and January 2009 because of lower import costs. “Import costs for February and March 2009 have […]
Sri Lanka dismisses critics, vows to crush Tigers
April 30, 2009 (AFP) – Sri Lanka’s president on Thursday ruled out halting the military’s offensive against the Tamil Tigers, and warned the rebels that they must give up or be killed.“We have no plans to go for a ceasefire with the Tigers, but they have a little time left to drop their weapons and […]
Sri Lankan tea prices up
April 30, 2009 (LBO) – Sri Lankan tea prices rose again at this week’s auction, propelled by the weakening rupee and strong demand from the Middle East, brokers said.“Teas in the higher priced bracket continued to decline further following quality whilst the neat leaf coloury teas showed a firming up of prices. Poor leaf teas […]
Sri Lanka tea crop falls sharply in March
April 30, 2009 (LBO) – Sri Lanka’s total tea production in March 2009 fell 44 percent to 18.2 million kilos from a year ago owing to drought and reduced crops, the Tea Board said. Tea output in the January-March 2009 period was down 41.6 percent to 48.8 million kilos from 83.5 million kilos in the […]
Lucrative Fees
April 30, 2009 (LBO) – Sri Lanka’s Pan Asia Bank said March quarter net profit rose 39 percent to 92 million rupees from a year ago, helped by a sharp rise non-interest income and steady growth in net interest income.The profit growth came despite sharply higher provisions for bad loans and a contraction in the […]
Sri Lankan stocks gain on retail interest
Apr 30, 2009 (LBO) – Sri Lankan retail investors pushed up shares for the second straight day on thin volumes, while the rupee strengthened from around 120.50 in spot trade to 120.00/10 by mid-day, brokers and dealers said. The All Share Price Index of the Colombo stock gained 0.46 percent (8.36 points) to end at […]
US airs concern on Sri Lanka, mum on Swedish row
WASHINGTON, April 28, 2009 (AFP) – The United States voiced concern Tuesday about reports of continued heavy shelling in Sri Lanka but stayed out of a row over the Swedish foreign minister’s failure to receive a visa for the island. “I’m not familiar with the circumstances surrounding this visa issue, and have to refer you […]
British, French FMs arrive in Sri Lanka
April 29, 2009 (AFP) – The foreign ministers of Britain and France, David Miliband and Bernard Kouchner, arrived Wednesday in Sri Lanka, officials said, looking to negotiate a humanitarian ceasefire in the island’s civil war. Amid mounting international concern about the plight of civilians caught up in the fighting between government troops and Tamil Tiger […]
Sri Lanka focuses on clean, low-cost lighting
April 29, 2009 (LBO) – Sri Lanka has set up an energy efficient lighting centre with United States support aimed at promoting clean and low-cost lighting technologies in the south Asian region. “Providing access to electricity is a critical factor in supporting economic development throughout the region,” James Moore, U.S. Embassy Charge d’Affaires, was quoted […]
Sri Lanka power firm finances could improve in May: official
April 29, 2009 (LBO) – The finances of Sri Lanka’s cash-strapped state-run power utility, Ceylon Electricity Board (CEB), could improve in May, a top official said, as dry weather forced it to buy expensive thermal energy, running up debts. The CEB can store 1,200 million units (GigaWatt_hours) worth of water at its reservoirs but it […]