Category:
Appeals
Apr 09, 2012 (LBO) – The two latest disappearances in Sri Lanka has prompted appeals from family members and the Australian envoy to Colombo as one of the disappeared is a national of that country, media reports said. An Australian media report said Gunaratnam’s wife had pleaded for his release from Australia. On January 03, […]
Oil Storage
April 09, 2012 (LBO) – Indian Oil Corp. ‘s Sri Lanka unit plans to invest about 35 million US dollars to expand an oil tank farm in the eastern port of Trincomalee to store and export products, an official said. Since taking over operations of the China Bay tank farm ten years ago in 2002, […]
Sri Lanka to spend Rs89bn on war zones, rapid normalcy: President
Apr 09, 2012 (LBO) – Sri Lanka is planning to spend 89 billion rupees to re-build former war zones in the north and the east in 2012 to bring the areas to normalcy, President Mahinda Rajapaksa said. He said de-mining has been accomplished fast and ahead of predictions, and most displaced families were already resettled. […]
Sri Lanka revenue crunch continues in 2012
Apr 09, 2012 (LBO) – High state spending is continuing to put pressure on the economy with billions of rupees being printed in April to meet expenses on top of earlier bank borrowings, official data shows. In countries with more stable currency pegs, such as Hong Kong or Singapore, seasonal cash demands are met, not […]
Sri Lanka and Vietnam can boost trade with fast track measures: officials
April 08, 2012 (LBO) – Sri Lanka and Vietnam can boost bi-lateral trade by opening trade with a few items, and promoting interaction by reciprocal arrangements to participate in trade fairs, officials said. “Trade is 180 percent of gross domestic product, making Vietnam one of the most open countries in the world,” Truong said. “The […]
Sri Lanka state airline pays US$7.7mn in rental
Apr 07, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines is paying 7. 7 million US dollar a month to lease 21 aircraft, a media report quoting a parliamentary filing said. The Island newspaper said quoting a document tabled by civil aviation minister Piyankara Jayaratne said Mihin Lanka, a loss-making budget carrier is also pays […]
Sri Lanka had 38-months of low inflation: CB Governor
Apr 07, 2012 (LBO) – Sri Lanka has had single digit inflation for the past 38-months and no crisis in the banking system, despite a short-term weakening of the currency, Central Bank Governor Nivard Cabraal said. “During the past 38 months inflation had been in the single digit level,” Cabraal told the LBR-LBO Ceo forum, […]
Sri Lanka has maintained confidence of bond buyers: CB Governor
Apr 06, 2012 (LBO) – Sri Lanka has retained the confidence of foreign holders of government debt by taking firm corrective steps to fix a balance of payments crisis, Central Bank Governor Nivard Cabraal said. The rupee has now strengthened to around 125 to the US dollar from a low of 131 rupees, though there […]
Business Tool
April 06, BANGKOK (LBO) – Use of mobile phones has grown rapidly among the poor in Sri Lanka, becoming almost an indispensable business tool among small entrepreneurs and farmers, according to a new study. Computer use at the ‘BOP’ level was low overall as was internet use but mobile phones emerged as almost ubiquitous. “Probably […]
Sri Lanka state airline flights not axed
Apr 06, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines said it will continue to operate European routes, two of which were earlier to be axed during off-peak periods. SriLankan Airlines officials had earlier said that it wanted to prune European long haul flights and re-deploy equipment on more lucrative Asian routes to improve the […]
Sri Lanka rates up amid tight liquidity
Apr 05, 2012 (LBO) – Liquidity tightened in Sri Lanka’s money markets Thursday a day after bond yields spiked amid some foreign selling a day earlier ahead with a monetary policy announcement due later in the day. Call money was quoted as 9.25/50 percent at opening percent and gilt-backed repos were quoted 8. 25/45 dealers […]
Sri Lanka stocks close up 0.4-pct
Apr 05, 2012 (LBO) – Sri Lanka stocks close up 0.41 percent Thursday ahead of the Easter weekend with both indices up and net foreign buying, brokers said. Actively traded counters include Swarnamahal Financial Services closing at 8. 50 rupees, down 20 cents, HVA Foods closing at 12. 90 rupees, down 40 cents, and Environmental […]