Author: lbostgadmin
”and reduce prices
Mar 28, 2008 (LBO) – Sri Lanka has removed a special tax on rice and allowed any private trader to import rice, the information ministry said as the government tried to import ‘deflation’ in to the country. . “With the intention of easing the burden of the people, the Government has decided to sanction the […]
‘s high risk dams to be made safer
Mar 28, 2008 (LBO) – Sri Lanka is getting a 65.3 million US dollar credit from the World Bank to improve the safety at high risk dams and boost water resources planning capacity in the island, the multilateral lender has said. The project will cover 80 dams of which 32 are considered high risk. The […]
Sri Lanka economy expands 6.8 percent in 2007
Mar 28, 2008 (LBO) – Sri Lanka’s economy expanded 6.8 percent in 2007 against 7.7 percent in 2006, but in the fourth quarter growth accelerated to 7.6 percent from 7.4 percent in the same period last year, government data showed. Head of Statistics Suranjana Vidyaratne said industry grew by 7.6 percent, services by 7.1 percent […]
Sri Lanka launches probe into mystery poster campaign
March 28, 2008 (AFP) – Sri Lanka Thursday launched a probe into a mystery poster campaign that is asking would-be Tamil Tiger suicide bombers to turn themselves in to government hands in return for cash.The campaign, run by an unknown pro-peace organisation, was urging extremists to change their minds in exchange for a new life […]
Flight problems ground Sri Lanka tour match
SCARBOROUGH, Tobago, March 27, 2008 (AFP) – Sri Lanka’s scheduled three-day tour match against West Indies ‘A’, planned for this weekend, was cancelled on Thursday because of flight problems. The match had been scheduled for Shaw Park from March 29 to 31, but it has become the latest victim of the Caribbean’s erratic airline services. […]
British finance minister outlines plans for whistleblower law
LONDON, March 28, 2008 (AFP) – Finance minister Alistair Darling outlined plans on Friday to equip Britain’s financial watchdog with powers to give individuals whistleblower protection in return for evidence in investigations.Darling’s proposals in an interview with The Guardian came just days after British bank Halifax Bank of Scotland was forced to deny market rumours […]
Sri Lankan Airlines to get treasury secretary as new chairman
March 28, 2008 (LBO) – Sri Lanka’s government has appointed treasury secretary P B Jayasundera as chairman of the national carrier SriLankan Airlines, whose management deal with Emirates Airline expires at the end of March. The government which owns 51.05 percent of the airline has also appointed Sunil Wijesinha, present chairman of tableware exporter Dankotuwa […]
Capital Quiz
March 28, 2008 (LBO) — A quiz on capital markets hosted by investment research outsourcing firm Amba Research is on track to have more teams this year with accounting bodies joining universities in the event. “Unlike last year, in addition to universities, we will be opening up this event to ACCA/CIMA institutes as well. We […]
Private Equity
March 28, 2008 (LBO) – Trading in Sri Lanka’s Sampath Bank shares was halted briefly Friday after the bank announced it was in talks with an international private equity company about a possible investment. Sampath Bank is holding talks with ShoreCap International Ltd. (SCI) regarding a possible investment by ShoreCap in the bank, Sampath said […]
Risk Cap
Mar 28, 2008 (LBO) – Sri Lanka’s central bank has limited the risk premium of one year deposit rates of finance companies to 2.5 percent above Treasury bills, from an existing rate of 3.0 percent, the regulator said. The benchmark rate applicable is the weighted average T-bill rate of the preceding quarter. In 2005 the […]
Sri Lanka trade deficit doubles in January
Mar 27, 2008 (LBO) – Sri Lanka’s trade deficit doubled to 610.8 million US dollars in January as a surge in oil and capital goods imports outpaced gains from an agricultural commodity boom, government data showed. Sri Lanka has recorded a balance of payments surplus in the first two months of the as the central […]
Historic win for Sri Lanka over Windies in cricket test
PROVIDENCE, Guyana, March 26, 2008 (AFP) – Chaminda Vaas played a starring role with the ball, as Sri Lanka created a bit of history, when they completed a 121-run victory over West Indies in the opening Test on Wednesday. Vaas captured five wickets for 61 runs from 22.2 overs and Muttiah Muralitharan took three for […]