Author: lbostgadmin
Sri Lanka central bank to retail treasuries
July 05, 2007 (LBO) – Sri Lanka’s central bank will use its regional offices to sell government securities to rural investors, the bank said, as real returns on treasuries are turning positive in a market that has been shaken with a series of aborted auctions.The bank runs the government’s debt office as an agency function […]
Passing Bucks
July 04, 2007 (LBO) — Sri Lanka’s state-run oil firm Ceylon Petroleum Corporation has asked the treasury to pick up a six billion rupee subsidy tab for selling fuel to the Ceylon Electricity Board at a steep discount, officials said Wednesday. The Ceylon Electricity Board (CEB), currently buys fuel at 55 rupees a litre from […]
Congressmen want US to do more to end Sri Lanka conflict
WASHINGTON, July 3, 2007 (AFP) – About 50 US lawmakers have written to President George W.Bush asking him to step up American efforts to help resolve the ethnic conflict in Sri Lanka.“The United States has the opportunity to serve as a leader” in renewed international efforts to bring about a peaceful resolution to the conflict, […]
Sri Lanka jets strike Tamil Tiger bases
July 4, 2007 (AFP) – Sri Lankan air force jets on Wednesday carried out a second straight day of bombing raids against Tamil Tiger rebels positioned in jungles in the east of the island, the military said. The raids were part of a months-old effort aimed at dislodging the ethnic rebels from their hideouts in […]
Sri Lanka stretches the lead with flourishing strokeplay
July 4, 2007 (AFP) – Kumar Sangakkara hit an unbeaten 170 as Sri Lanka continued to flay Bangladesh on the second day of the second cricket Test against Bangladesh here on Wednesday. The hosts, who bowled out Bangladesh for a meagre 62 on the first day, moved from their lunch score of 267-2 to 385-5 […]
High Standards
July 04, 2007 (LBO) – Sri Lanka’s freight forwarders are seeking new rules to improve standards in the trade after winning a court order that quashed a set of regulations proposed by government. “We did not see much policing in the proposed law,” Kadawatharatchie said. “There’s a need to punish rule breakers.” Niral Kadawatharatchie, chairman […]
BOT BPO
July 04, 2007 (LBO) – Aviva, one of the world’s biggest insurance firms, has hired over 300 Sri Lankan accounting and finance professionals into its business process outsourcing unit in Colombo. The professionals were trained on a build and transfer contract between Aviva Global Services (AGS) and Sri Lanka’s WNS, a third-party service provider for […]
Crawl Speed
July 04 (LBO) – Lengthy delays in automating Sri Lanka’s cargo clearing system were hurting the island’s chances of becoming a trading hub and making trading inefficient, a top freight forwarder said. “The automation of Sri Lanka’s cargo clearing system has not happened yet although it has been talked about for about five years,” said […]
Debt Capital
July 04, 2007 (LBO) – Sampath Bank has completed a debenture issue to raise 250 million rupees, the bank told the Colombo Stock Exchange. The money will strengthen the bank’s tier II capital base. The bank has a double AA- (lka) national long term rating from Fitch Ratings Lanka. Its debentures have previously been rated […]
Sri Lanka achieves reserve money target for June
July 3, 2007 (LBO) – Sri Lanka’s central bank says its reserve money target for June has been achieved comfortably, even as emerging fiscal signals continued to unsettle market participants. Short term rates have also become volatile this week, reaching towards 40 percent again. The interbank market has become after several weeks of excess liquidity […]
Sri Lanka on alert for Tiger attack anniversary
July 3, 2007 (AFP) – Sri Lankan security forces are on high alert as Tamil Tiger rebels this week mark the 20th anniversary of their first-ever suicide attack with the threat of unleashing more deadly strikes.“We are also seeking public cooperation for information regarding suspicious activity in their neighbourhoods.” The island’s prime minister has underlined […]
Seven people killed in Sri Lanka clashes
July 3, 2007 (AFP) – Four suspected Tamil Tiger rebels and three soldiers were killed in fresh violence in Sri Lanka’s embattled north, military officials said Tuesday. There was no immediate comment from the Liberation Tigers of Tamil Eelam, who have been locked in combat with the government since 1972 in a conflict that has […]