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India eases non-tariff barriers on Sri Lanka apparel, meat
Mar 27, 2013 (LBO) – India has raised a quota of Sri Lanka-made apparel and the validity of a sanitary permit for meat had been doubled giving more freedom for Indian nationals to buy goods from the island.Free Trade Agreements were then used to progressively give freedom to the poorer people to trade. Quotas and […]
Sri Lanka Treasuries yields up
Mar 25, 2013 (LBO) – Sri Lanka’s Treasuries yields rose at this week’s auction, held on Monday with the 12 month yield rising 11 basis points to 11.35 percent, data from the state debt office said. . The 3-month yield rose 04 basis points to 9.26 percent. Bids for 6-month bills have been rejected.Last week […]
Brew Bonds
Mar 25, 2013 (LBO) – Sri Lanka’s Lion Brewery will sell 3.0 billion rupees in unsecured debt with the firm expected to spend 5.0 billion rupees to upgrade plant over the coming year, Fitch Ratings said.In the current financial year it had spent 2.8 billion rupees. Fitch had given a ‘AA-(lka)’ expected rating to the […]
Spreading Fear
Mar 25, 2013 (LBO) – Mob violence in Sri Lanka against Muslims and Christians and emerging attacks and humiliation of Muslim girls for their dress by Buddhist nationalists, was spreading fear among minorities, Friday Forum, a citizens group said.“The failure of the police to act swiftly and effectively in enforcing the law has encouraged individuals […]
” by UN-ESCAP: Central Bank
Mar 25, 2013 (LBO) – Sri Lanka has been classed as ‘less indebted’ in five out of six debt indicators which assesses external debt vulnerability of a country, by the United Nations Economic Commission for Asia and the Pacific, the Central Bank said. There have been concerns over Sri Lanka’s rising commercial foreign debt, as […]
Vehicle Woes
Mar 24, 2013 (LBO) – Sri Lanka’s vehicle registrations hit new low of 23,544 in February 2013, down 44 percent from a year earlier, after taxes were hiked to curb imports, an analysis by an equities research house shows. Registrations of Maruti Zen models were down 88 percent in February 2013 from a year earlier […]
Sri Lanka needs freedom not authoritarianism for growth, knowledge: economist
Mar 22, 2013 (LBO) – Sri Lanka needs freedom to think, develop knowledge, secure property rights and rule of law, which leads of sustainable growth and prosperity rather than authoritarianism which may show temporary gains, an economist has said.“Authoritarianism will bring a quick acceleration in economic growth because everyion is forced to work harder than […]
Credit Line
Mar 22, 2013 (LBO) – The European Investment Bank will loan 90 million Euros to Sri Lanka which will be used to finance for renewable energy projects and small and medium enterprises, minister Keheliya Rambukwelle said.The balance will be given at averaged weighted deposit rate (6-months) for15 years with 3 year grace. DFCC Bank, Commercial […]
Another Resignation
Mar 22, 2013 (LBO) – The director general of Sri Lanka’s securities regulator, resigned Friday, becoming the fourth top official to leave the regulatory body in controversial circumstances in the last three years. “Based on my principles, considering the present set up I decided to resign,” Hareendra Dissa Bandara said, closely echoing the words of […]
Tele Rating
Mar 22, 2013 (LBO) – Fitch ratings said it had confirmed a ‘BB-‘ rating of Sri Lanka Telecom with a stable outlook helped by its strong market leadership in fixed services and a number two position in mobile.“SLT’s ratings reflect its market-leading position in Sri Lanka’s fixed-line services underpinned by its monopoly in wireline and […]
UN resolution on Sri Lanka adopted after vote
Mar 22, 2013 (LBO) – A UN resolution on Sri Lanka brought by the US passed with 25 votes for 13 against and 8 abstentions with India also voting for after failing to move last minute changes, reports said. Argentina, Austria, Benin, Brazil, Chile, Costa Rica, Côte d’Ivoire, Czech Republic, Estonia, Germany, Guatemala, India, Ireland, […]
Sri Lanka should act on efficient water use early: IWMI
Mar 22, 2013 (LBO) – Urbanization, industrialization and agriculture is straining Sri Lanka’s water resources, with a post-waar economic revival in Jaffna seen to be threatening its fragile groundwater system.Sri Lanka’s economy is expanding faster, and tourism is also on the rise. “With population, urbanization and increasing industrial growth, there are competing demands on water, […]