Author: lbostgadmin
Credit Trend
May 28, 2014 (LBO) – Sri Lanka’s banks are lending money to industry and services, but the total loan stock is not growing fast because of contracting gold loans, Deputy Central Bank Governor Ananda Silva said. The Central Bank gave a partial credit guarantee to banks to lend against gold, which is expected to boost […]
Sri Lanka stocks close higher
May 28, 2014 (LBO) – Sri Lanka’s stocks closed in positive directions on Wednesday despite relatively low foreign participation on the bourse, brokers said. The Colombo benchmark All Share Price Index closed 5.32 points higher at 6,272.76 up 0.08 percent. The S&P SL20 closed 3.40 points higher at 3,450.65, up 0.10 percent. Turnover was 451.16 […]
Sri Lanka long bond yields slightly up
May 28, 2014 (LBO) – Sri Lanka’s long bond yield rose slightly at an auction Tuesday according to data from the state debt office, through keeping broadly in line with secondary market rates. But a rise in Treasuries yields may indicate greater demand for private credit. Over the past year, Treasuries yields have fallen, mostly […]
Sri Lanka borrows US$275mn from ADB for roads, education
May 27, 2014 (LBO) – The Asian Development Bank said it would loan 175 million US dollars to build roads and boost the state university system to generate graduates that more employable.ADB will give 100 million US dollars for Sri Lanka government’s skills sector development program which plans to reduce a mismatch between the competencies […]
Sri Lanka President, Indian PM discuss fishing, post-war reconciliation
May 27, 2014 (LBO) – Sri Lanka’s President Mahinda Rajapaksa had discussed the island’s post-war reconciliation process and an fishing dispute with India’s new Prime Minister Narendra Modi in New Delhi, his office said.“Both agreed that talks between the fishermen and the meeting of the joint committee of officials must continue,” the statement said.Sri Lanka […]
Pakistan India relations take surprising warmer turn with Modi
NEW DELHI, May 26, 2014 (AFP) – India’s Prime Minister Narendra Modi was expected to hold landmark talks with his Pakistani counterpart and announce his new cabinet Tuesday as he looked to hit the ground running on his first day in office. The morning after Modi and his slimmed-down team of ministers were sworn in, […]
UN rights office condemns Maldives death penalty revival
GENEVA, April 29, 2014 (AFP) – The UN human rights office on Tuesday voiced concern over moves to revive the death penalty in the Maldives, including for minors, after a six-decade freeze on capital punishment in the Indian Ocean archipelago.“We are deeply concerned about a new regulation adopted in the Maldives on implementation of the […]
Tariff Dilemma
May 27, 2014 (LBO) – Sri Lanka’s telecom companies have to share networks and invest together to cut broadband costs as higher margin voice usage gives way to cheaper data based services, head of Dialog Axiata, the island’s largest mobile firm has said.Dialog group chief executive Hans Wijayasuriya said Sri Lanka has been recognized among […]
Shifting Focus
WELLINGTON, May 27, 2014 (AFP) – People-smugglers are looking to target New Zealand now that Australia’s tough border protection policies have effectively “closed down” that country to asylum-seeker boats, Prime Minister John Key said Tuesday.While the voyage to New Zealand from places such as Indonesia and Sri Lanka is potentially far more perilous than trying […]
School System
May 27, 2014 (LBO) – Sri Lanka has started testing mathematics e-learning programs in the country’s school system to decide whether such courses should be used throughout the country, the Asian Development Bank said. Sri Lanka has a state-run school system with a centralized curriculum, and the Asian Development Bank. Courses from Khan Academy, a […]
‘s Aitken Spence March 2014 quarter profits up 12-pct
May 27, 2014 (LBO) – Profits at Sri Lanka’s Aitken Spence, which has interests in leisure, logistics and power rose 12 percent from a year earlier to 1.36 billion rupees in the March 2014 quarter helped by tourism, interim accounts show. The firm reported earnings of 3.36 rupees per share for the quarter. In the […]
Second Plan
May 27, 2014 (LBO) – Sri Lanka’s Central Bank, said it had given a liquidity facility to The Finance Company, and has also changed the board under a new restructuring plan. Chairman M P Jayawardena and C Rosa had said they were not available re-appointment, the statement said. The Finance was a member of Sri […]