Author: lbostgadmin
Sri Lanka shares end down
Feb 24, 2009 (LBO) – Sri Lankan shares ended weaker Tuesday on low volumes with tableware exporter Dankotuwa Porcelain falling after news that it had lost a big American export customer, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index eased […]
Sri Lanka cuts reserve ratio again
Feb 24, 2009 (LBO) – Sri Lanka has cut the statutory reserve ratio (SRR) or percentage of deposits commercial banks must keep with the central bank, by 75 basis points to 7.0 percent releasing 9 billion rupees of cash to the system.From September to December, Sri Lanka’s official reserves have halved from 3.4 to 1.7 […]
Ton-up Younus keeps Pakistan afloat
KARACHI, February 23, 2009 (AFP) – Debutant captain Younus Khan completed a fighting hundred as Pakistan kept Sri Lanka at bay on the third day of the opening Test here on Monday.Younus was unbeaten on 101 as the home team, replying to Sri Lanka’s mammoth first innings total of 644-7, reached 213-2 at tea.The other […]
Sri Lanka seen as China marketing hub
Feb 23, 2009 (LBO) – Chinese businesses are eying Sri Lanka’s regional and international trade concessions and strategic geographical location as a window into European Union and other Asian markets, a visiting Chinese trade official said. “The geographical location of Sri Lanka is good. It can be used as a window into other Asian and […]
Sri Lanka exporters to get incentives as downturn worsens
Feb 23, 2009 (LBO) – Sri Lanka has unveiled an export incentive program based on maintaining revenues and employment, while emerging data shows contracting nominal values with manufacturers planning to trim workforces. Sri Lanka’s government is giving a 5 percent incentive payment in domestic currency to any exporter who can show 5.0 percent more export […]
Sixth Indian Tamil self-immolates over Sri Lanka war
CHENNAI, February 22, 2009 (AFP) – An ethnic Tamil activist committed suicide by setting himself on fire in protest against the war in Sri Lanka, Indian police said on Sunday. Siva Prakasam, 55, set himself ablaze during an anti-war rally on Saturday in Chennai, capital of the southern state of Tamil Nadu, a police spokesman […]
‘s Tamil Tigers say ready for ceasefire
February 23, 2009 (AFP) – Sri Lanka’s Tamil Tiger rebels Monday said they were ready to comply with international calls for a ceasefire but would not lay down their arms.With rebel forces cornered in the northeast of the island by government troops, the Liberation Tigers of Tamil Eelam (LTTE) appealed to foreign powers to step […]
Sri Lanka army rejects Tiger truce call
February 23, 2009 (AFP) – Sri Lanka’s Tamil Tigers appealed Monday for international action to halt a major offensive against their shrinking fiefdom, but the island’s military rejected any talk of a truce. With rebel forces cornered in the northeast of the island by a massive attack by government forces, the Liberation Tigers of Tamil […]
EU urges humanitarian truce in Sri Lanka
BRUSSELS, February 23, 2009 (AFP) – European Union foreign ministers issued a joint call Monday for an immediate ceasefire between Sri Lankan security forces and Tamil Tiger rebels to allow aid in and civilians out of the conflict zone.“The EU is deeply concerned about the evolving humanitarian crisis and vast number of internally displaced people,” […]
Migrant Move
SYDNEY, February 23, 2009 (AFP) – Australia will likely cut the number of skilled immigrants allowed into the country next year, following the global economic downturn, the government said Monday.“I expect the numbers of our programme to drop next year as a reaction to the economic circumstances,” Immigration Minister Chris Evans told reporters. He gave […]
Sri Lankan tea prices rise
Feb 23, 2009 (LBO) – Tea prices rose sharply at last week’s Colombo auction with crops on the decline and the quality season which attracts overseas buyers in full swing, brokers said.The brightest seasonal Nuwara Eliya BOP teas moved up sharply by 50 – 100 rupees per kilo. The market also moved up sharply for […]
Risky Behaviour
Feb 23, 2009 (LBO) – Sri Lanka’s existing financial regulation are adequate to take action against unregistered finance firms who defraud customers, a former member of the central bank monetary board said.Deva Rodrigo said the recent collapse of unregistered finance companies had raised fears about the stability of the financial system. This was one of […]