Author: lbostgadmin
Sri Lanka rubber prices, cultivation rising: trade official
July 08, 2008 (LBO) – Sri Lankan natural rubber prices will remain high on strong demand while cultivation and production is increasing, the chairman of the Colombo Rubber Traders’ Association Anura Edirisinghe said. Global natural rubber consumption will continue to outstrip supply through 2009, resulting in prices maintaining current high levels or increasing even above […]
Sri Lanka tea exporter sees lifestyle trends expanding market
July 08, 2008 (LBO) – Changing consumer tastes and a willingness to pay a premium for a superior product should help tea producers, who until recent years had faced stagnant prices, a top Sri Lankan exporter says. Anslem Perera, managing director of Euro Scan, says tea producers and exporters were making use of traditional consumption […]
Bank Rating
July 08, 2008 (LBO) – Fitch Ratings has confirmed the local long-term rating of Sri Lanka’s Nations Trust Bank at ‘A(lka)’ with a stable outlook.The agency also gave an ‘A-(lka)’ rating to NTB’s proposed unsecured debenture issue of up to 1.5 billion rupees. “NTB’s rating reflects its modest profitability and capitalization,” it said in a […]
Sri Lankan share prices sink as security concerns loom
July 08, 2008 (LBO) – Sri Lankan shares sank Tuesday with the indices dragged down by losses in heavyweight stocks as security fears added to investor concerns about deteriorating economic conditions, brokers said.The All Share Price Index lost 1.19 percent (28.67 points) to end at 2,372.50 while the more liquid Milanka was down 1.40 percent […]
Sri Lanka opposition backs new state salary hike
July 07, 2008 (LBO) – Sri Lanka’s main opposition United National Party (UNP) is backing calls for new salary hikes for the island’s already bloated state sector, continuing a tradition that has created a class of super citizens and high inflation in the country.The UNP and its trade union arm, the Jathika Sevaka Sangamaya (JSS), […]
Mendis, Jayasuriya shine as Sri Lanka retains Asia Cup
KARACHI, July 6, 2008 (AFP) – Sensational spinner Ajantha Mendis took six wickets for just nine runs to help Sri Lanka beat India by 100 runs in the final here on Sunday to successfully defend the Asia Cup title. As expected the 23-year-old spinner mesmerised the Indian batsmen with career-best figures to cause a slump […]
Toyota to equip Prius with solar panels: report
TOKYO, July 7, 2008 (AFP) – Japan’s Toyota Motor Corp.plans to add solar panels to its popular Prius hybrid early next year to power the vehicle’s air conditioning, a newspaper report said Monday. As part of a complete design makeover, the Prius will be fitted with rooftop solar panels on its high-end models, the Nikkei […]
Loose money US believes in strong dollar
TOYAKO, July 6, 2008 (AFP) – President George W.Bush on Sunday reaffirmed the United States’ “strong dollar” policy, saying the US economy’s fundamental strength would ultimately support the flagging currency.“The US believes in a strong dollar policy and believes that the strength of our economy will be reflected in the dollar,” he said ahead of […]
Launch Date
July 7, 2008 (LBO) – The Sri Lanka unit of India’s Bharti Airtel hopes to launch its services in the island by the end of the year, a media report said. Margins and profits of mobile operators have been coming down in recent years, with intense competition among the island’s operators. In addition to Dialog, […]
Sri Lanka tea exports up to May at new high
July 07, 2008 (LBO) – Sri Lanka has earned half a billion dollars from tea exports in the first five months of the year, with volumes also hitting a new record of 129.4 million kilograms, brokers Asia Siyaka Commodities said. But tea bag exports fell from 8.5 million in the 2007 period to 7.6 million […]
Sri Lanka nature reserve threatened by politicians, business say activists
July 06, 2008 (LBO) – One of the three top nature reserves in Sri Lanka, a biodiversity hotspot, is being threatened by encroachment and commercial cultivation involving corrupt politicians, bureaucrats and business, a new report says.“Once title is given, the land soon passes to the politically powerful or their cronies,” says Environmental Foundation Ltd., which […]
Sri Lanka activists organising media boycott of South Asia summit: report
July 6, 2008 (AFP) – Media activists in Sri Lanka are organising a boycott of the upcoming South Asian summit in Colombo in protest at escalating attacks against journalists, a report said Sunday.The Lakbima News weekly said several media outlets had agreed in principle not to cover the August 1 summit of the South Asian […]