Author: lbostgadmin
‘s interest rates “appropriate” to current conditions: CB Governor
Apr 09, 2014 (LBO) – Sri Lanka’s interest rates “appropriate” to current conditions where returns particularly on deposits of senior citizens have fallen sharply, Central Bank Governor Nivard Cabraal said.Sri Lanka’s inflation has fallen to around 4 percent in the past quarter and one year deposit rates in commercial banks are around 6 to 7 […]
”’ transferred to budget
Apr 09, 2014 (LBO) – Sri Lanka’s central bank lost 24.2 billion rupees in 2013, down from profits of 66.2 billion rupees, but the bank had transferred 25 billion rupees in profits to the state budget, its annual accounts showed.Other than interest income from its forex assets, a central bank primarily makes profits from inflation, […]
Cricket: Sri Lanka board hits back at Jayawardene, Sangakkara
COLOMBO, April 9, 2014 (AFP) – Sri Lanka’s cricket board and two senior players were locked in a war of words Wednesday, a day after the World Cup-winning Twenty20 team returned home as national heroes.“SLC regrets such unsubstantiated accusations levelled against the secretary and CEO by a senior member of the national team without verifying […]
SriLankan expects US$25mn topline from airline alliance
Apr 09, 2014 (LBO) – State-run SriLankan Airlines said joining oneworld, a global alliance of airlines is expected bring it 25 million US dollars a year in incremental annual revenues and allow customers easy travel to the Americas. American Airlines and, its merger partner US Airways, from North America: LAN TAM from South America as […]
Borrowing Trends
Apr 09, 2014 (LBO) – Sri Lankan firms have got the nod to borrow 335 million US dollars abroad 2013 by the Central Bank, while debt markets also supplanted bank loans in 2013, as commercial bank credit to private firms slowed, an official said. Analysts say it is important to allow for a period of […]
Sri Lanka shares close up 0.2-pct
Apr 09, 2014 (LBO) – Sri Lanka’s shares close up 0.19 percent higher with index heavy stocks gaining amid strong foreign buying, brokers said. Bukit Darah closed 10.60 rupees higher at 574.80 rupees and John Keells Holdings closed 1.10 rupees higher at 239.90 rupees. JKH’s W0022 warrants closed 10 cents lower at 69.20 rupees and […]
Sri Lanka expects 7.8-pct growth in 2014 despite drought
Apr 08, 2014 (LBO) – Sri Lanka is expecting 7.8 percent growth in 2014, officials said despite a drought that is hurting agriculture and requiring more credit for power subsidies, which has de-stablised the economy in the past.“The drought is worrying us to some extent,” Central Bank Governor Nivard Cabraal said. “In the agricultural side […]
Sri Lanka will not cooperate with UN war probe: minister
COLOMBO, April 7, 2014 (AFP) – Sri Lanka on Monday rejected calls for cooperation with a UN investigation into war crimes and vowed it will not subject itself to the jurisdiction of the world’s highest rights body.Foreign Minister Gamini Lakshman Peiris said Sri Lanka will not allow United Nations High Commissioner for Human Rights Navi […]
Cricket: Sri Lanka party marred by player dispute
COLOMBO, April 8, 2014 (AFP) – Sri Lanka’s team flew home in triumph Tuesday to a huge street party after winning the world Twenty20 tournament, but celebrations were marred by controversy over the retirements of Mahela Jayawardene and Kumar Sangakkara.Tens of thousands of fans lined the street from the main international airport to downtown Colombo, […]
‘s would-be PM Modi
NEW DELHI, April 8, 2014 (AFP) – For a politician running on a platform of clean government, having a key aide facing murder and extortion charges could be seen as a liability — but not by the man tipped to be India’s next prime minister.Narendra Modi, the hardline Hindu nationalist leading the opposition Bharatiya Janata […]
‘s Citrus Leisure opens second resort; eyes two more
Apr 08, 2014 (LBO) – Citrus Leisure Plc, which opened a 150-room resort in Waskaduwa, on Sri Lanka’s South Western coast is planning another two resorts on the Western and Southern coasts, officials said. The hotel has 250 employees and says in-house training will help keep service levels high as demand for tourism sector workers […]
Cruise Call
Apr 08, 2014 (LBO) – Luxury liner MS Amadea made its maiden call at Sri Lanka’s Hambantota port with 479 passengers and visited tourist hotspots in Southern Sri Lanka, the state ports agency said.Sri Lanka Ports Authority said the 423 of the passengers were German nationals and they had day excursions to Kataragama and Udawalawe […]