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AirAsia X puts Sri Lanka on two day promotion
Apr 10, 2014 (LBO) – Malaysia-based long-haul budget carrier AirAsia X said it was offering a two day discount fares for Sri Lanka, Australia, Japan and China.“With this exclusive 48 hours sale, guests can take a break from their busy schedule and enjoy mid-year holiday getaways with a group of friends or loved ones to […]
Arrested
COLOMBO, April 10, 2014 (AFP) – Sri Lankan police have arrested 60 people accused of trying to revive a separatist group behind a civil war that left tens of thousands dead, a spokesman said on Thursday.The suspects, including 10 women, were detained in a crackdown over the past month and were being questioned about attempts […]
” Modi admits he is married
AHMEDABAD, April 10, 2014 (AFP) – Election frontrunner Narendra Modi has acknowledged for the first time that he is married, solving one of the biggest mysteries about the private life of the man tipped to be India’s next prime minister.The 63-year-old is routinely described as a bachelor and is thought to have lived alone in […]
Sri Lankan state airlines lose Rs30.1bn in 2013; Rs90bn over 5 years
Apr 10, 2014 (LBO) – State-run Sri Lankan Airlines and Mihin Lanka have lost 30.1 billion rupees (230 million US dollars) in 2013, with losses over the last five years totaling 89.9 billion rupees, official data shows. SriLankan Airlines made a loss of 28.6 billion rupees and state-run budget airline Mihin Lanka made another loss […]
Sri Lanka sovereign bond will not impact exchange rate: CB Governor
Apr 10, 2014 (LBO) – Sri Lanka’s 500 million US dollar sovereign bond sale this week will not impact the exchange rate as the Central Bank is expected to buy the proceeds, though foreign reserves will go up, Governor Nivard Cabraal said.In order to retain the dollars permanently in the foreign reserves and not cause […]
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 […]
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 […]
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 […]
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 […]
”’ 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, […]
‘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 […]
HSBC in seven Sri Lanka sovereign bond sales in a row
Apr 08, 2014 (LBO) – HSBC said it had helped lead manage all seven sovereign bond sales for Sri Lanka since 2007 following the latest sale Monday of 500 million US dollar 5-year bond for 5.125 percent. Public debt is managed for the Treasury by the Central Bank of Sri Lanka (CBSL). “We feel it’s […]