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Cricket: Warner facing uncertain future after Root attack
BIRMINGHAM, June 12, 2013 (AFP) – David Warner’s future as a member of the Australia tour party in England was in the balance following his bar-room attack on England’s Joe Root. Warner struggled against England, scoring only nine runs in 21 balls. He also failed to score in warm-up games against India and West Indies. […]
Sri Lanka to ban foreign investments in to steel, cement, retail trade
June 13, 2013 (LBO) – Sri Lanka plans to ban foreign investments into steel, cement, retail trade, small scale agriculture and beauty care products, to ‘protect’ domestic investors, according to decision by the cabinet of ministers.Cabinet spokesman Keheliya Rambukwelle said relevant regulations would be made known later. He said existing investors in the sectors will […]
Sri Lanka relaxes foreign exchange controls
June 12, 2013 (LBO) – Sri Lanka has relaxed controls on foreign exchange for travel, migration, sale of residential property by non-residents and maintaining foreign exchange accounts.“During the past few years, Sri Lanka’s macroeconomic fundamentals have improved and the domestic financial sector has become stronger and more resilient,” the Central Bank said in a statement. […]
Sri Lanka short term Treasuries ease
June 12, 2013 (LBO) – Sri Lanka’s short term Treasuries yields eased at Wednesday’s with the 3-month yield falling 03 basis points to 8.67 percent, the state debt office said. The 6-month yield fell 01 basis point to 9.80 percent and the 12-month yield was flat at 10.85 percent. The state debt office said 943 […]
Asset Mix
June 12, 2013 (LBO) – Sri Lanka’s licensed finance companies (LFC), which play in the sub-prime market has cut exposure to property and stocks, though they are facing an uptick in non-performing loans amidst a downturn, a rating report said.Investments in land and property had fallen to 1.86 percent of assets in the 9 months […]
Sri Lanka investment approval for Crown in final stages: minister
June 12, 2013 (LBO) – Investment approval for Australian magnate James Packer’s Crown group for a joint venture mixed development in Sri Lanka is being finalized and details will be presented parliament soon, investment minister Lakshman Abeywardena said.If the promoters wish to shift a casino to the project he said that was between the partners […]
Sri Lanka mulls safety rules on fishermen as monsoon kills 54
June 11, 2013 (AFP) – The death toll in Sri Lanka from strong monsoon winds and heavy rains rose to 54, as the government announced on Tuesday new safety requirements for small fishing boats.The minister said small boats which usually go out to sea at night and return at dawn were not regulated and did […]
Big Brother
WASHINGTON, June 12, 2013 (AFP) – A fierce debate about Internet privacy and the limits of US executive power erupted on Tuesday, in a victory for the young intelligence technician at the center of a global leak storm. While Democratic Senator Dianne Feinstein, the head of the Senate intelligence committee, branded the leak an “act […]
‘s Cinnamon Air to fly from end June
June 12, 2013 (LBO) – Sri Lanka’s Cinnamon Air, a domestic carrier operating Cessna 208 amphibians said will begin scheduled flight to the South of the island and Kandy in the central hills from the end of June. Daily flights to Koggala and Dickwelle will be from Dandugama Oya waterdrome which is 10 minutes away […]
Sri Lanka power generation positive in March
June 12, 2013 (LBO) – Sri Lanka’s power generation rose 02 percent in March 2013 to 1,057 GigaWatt hours (millions of units) from a year earlier, recovering from a slump in February official data showed.In February 2013 power generation fell 1.4 percent to 913 GWh from a year earlier. In February 2012, Sri Lanka raised […]
Sri Lanka, finance, beer bonds oversubscribed
June 11, 2013 (LBO) – An offer to sell 5.0 billion rupees worth bonds in Lion Brewery (Ceylon) Plc and Central Finance has been oversubscribed on opening Tuesday, registrars to the sales said. High net worth investors and banks have been piling into the listed debentures, which have been made tax free. Small investors have […]
Sri Lanka rupee weakens below 127 to dollar
June 11, 2013 (LBO) – Sri Lanka’s rupee weakened below 127 to the US dollar in the spot market in mid morning trade Tuesday, amid excess liquidity, dealers said.Sri Lanka has a loose peg with the US dollar and has tended to intervene when the exchange rate weakens below 127.00. Many Asian currencies which operate […]