Author: lbostgadmin
Sri Lanka holds rates, state guarantee for gold-backed loans: Central Bank
May 20, 2014 (LBO) – Sri Lanka’s Central Bank held policy rates at 6.5 and 8.0 percent with private credit showing positive growth in March, and said a government credit guarantee would be available for gold backed loans.The Central Bank was holding its policy repo rate at which the excess liquidity is withdrawn from the […]
‘s Rocket Internet
May 20, 2014 (LBO) – Lamudi, an online property and real estate portal started by German based Rocket Internet which focuses on emerging markets has launched a Sri Lanka specific site. “Now is the perfect time to be entering the Sri Lankan market,” Wilhelm Hammes, Managing Director of Lamudi Sri Lanka (www.lamudi.lk) said in a […]
” resignation offers
NEW DELHI, May 19, 2014 (AFP) – India’s Sonia and Rahul Gandhi offered to resign Monday after leading the once-dominant Congress party to its worst-ever election defeat last week, only for colleagues to insist the dynasty stay in place.Congress won just 44 seats in the parliamentary election for 543 seats as the Hindu nationalist Bharatiya […]
‘s Modi quick on Twitter diplomacy, no mention of US
NEW DELHI, May 19, 2014 (AFP) – India’s prime minister-elect Narendra Modi has taken to Twitter to thank fellow leaders in Japan, Russia, Sri Lanka, Nepal and Australia for their support, but one man still waiting for a reply is US Secretary of State John Kerry.While Canadian Prime Minister Stephan Harper has had two mentions […]
Gold Credit
May 20, 2014 (LBO) – A credit guarantee scheme covering gold-backed loans or pawning advances will be set up so that banks will have more comfort to lend against the asset, Central Bank Governor Nivard Cabraal said.But banks saw defaults rising on the credit when gold prices fell and values fell below the collateral. Sri […]
Sri Lanka shares close higher
May 20, 2014 (LBO) – Sri Lanka’s shares closed 0.04 percent higher Tuesday with index heavy stocks gaining despite net foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 2.37 points higher at 6,321.61 up 0.04 percent. The S&P SL20 closed 7.31 points higher at 3,480.10, up 0.21 percent. Turnover was 416.61 […]
” nations by UN measure: Central Bank
May 19, 2014 (LBO) – Sri Lanka was a ‘less indebted’ nation on five out of six measures used by the United Nation’s Economic and Social Commission for Asia and the Pacific to measure foreign indebtedness, the Central Bank said.In ‘Disbursed External Debt Outstanding/Gross National Income’ Sri Lanka was placed moderately indebted (between 30 to […]
Cricket: England want more Hales heroics against Sri Lanka
LONDON, May 19, 2014 (AFP) – England will hope history repeats itself when they begin their international programme against Sri Lanka with a lone Twenty20 international at The Oval on Tuesday. One of the few highlights for England during a recent tour programme that saw them surrender the Ashes 5-0 came in March when Alex […]
‘s Hathurusinghe to coach Bangladesh cricket
SYDNEY, May 19, 2014 (AFP) – Chandika Hathurusinghe will leave his post as coach of the Sydney Thunder Twenty20 team to take up the head coaching role with Bangladesh, Cricket NSW said on Monday. The 45 year-old Sri Lankan, who took charge of the Thunder last season, has been offered the chance to coach at […]
SriLankan Airlines, Finnair codeshare flights take-off from June 02
May 19, 2014 (LBO) – SriLankan Airlines and Finanair will begin code share flights from June 02, with flights to Frankfurt, Paris, Rome, London, Stockholm, Oslo and Copenhagen from Helsinki. SriLankan Airlines, Head of Commercial Operations Mohamed Fazeel said the partnership will expand the carriers reach to the Scandinavian region and increase tourist arrival to […]
‘s new right-wing govt
NEW DELHI, May 18, 2014 (AFP) – Prime minister-elect Narendra Modi summoned senior figures from his Hindu nationalist party on Sunday for talks on forming a new government that is set to steer India sharply to the right. Top BJP leaders were also meeting in Delhi with the right-wing Rashtriya Swayamsevak Sangh (RSS), the Hindu […]
Accounting Row
May 19, 2014 (LBO) – A legislator has renewed a call to publish audited accounts of Sri Lanka’s Employees Provident Fund and table them in the parliament amid concerns over the purchase of some fundamentally weak shares at high prices during a stock market bubble.Sri Lanka’s EPF, which represents pension contributions of private sector employees […]