Category:
Sri Lanka promises impartial probe on tourist killing
Dec 29, 2011 (LBO) – Sri Lanka says investigations are continuing on an attack which left a British tourist killed and his Russian female friend injured with several suspects including a local politician of the ruling party being arrested, officials said. Sri Lanka’s deputy economic development minister Lakshman Abeywardene said the island’s defence secretary has […]
Sri Lanka India fishing dispute talks in Jan
Dec 29, 2011 (LBO) – Sri Lanka and India will hold talks on resolving a fishing dispute which escalated after the end of a 30-year war, when a joint working group meets in January. Fisheries minister Rajitha Senaratne said Sri Lanka will hold talks with an Indian delegation made up of state and central government […]
Hedging Cost
Dec 29, 2011 (LBO) – A Singapore arbitrator has ordered Citibank to pay Sri Lanka’s state petroleum refiner 2.5 million US dollars as legal fees in an oil hedging deal dispute, a statement said. The arbitrator in August 2011 voided an oil hedging deal between Ceylon Petroleum Corporation and Citibank, rejecting the bank’s demand for […]
Value Exports
Dec 29, 2011 (LBO) – Sri Lanka’s earnings from information communications technology (ICT) services and products grew strongly this year after rising sharply last year, officials said. ICT and BPO (business process outsourcing) exports shot up 47 percent to 310 million US dollars in 2010-11 from the year before and will remain strong, a new […]
‘s Sebi proposes new regulations for investment advisors
MUMBAI, Dec 29 (Asia Pulse) – Indian market regulator Sebi has proposed new rules for investment advisors that will require them to be registered with a self-regulatory organisation (SRO) before undertaking such a role. The services will include financial advice, financial planning service and actions which would influence an investment decision. Besides, representatives of investment […]
Sri Lanka renewable energy use grows
Dec 29, 2011 (LBO) – Non-conventional renewable energy use has grown sharply this year, accounting for the fastest growth among the different sources of energy in the island, according to latest central bank data. Non-conventional renewable energy mainly consists of hydro- , wind, solar and biomass. Most non-conventional hydro-power in Sri Lanka comes from small […]
Sri Lanka should be prepared for slow global recovery: Razeen Sally
Dec 28, 2011 (LBO) – Sri Lanka should be prepared for a slow external environment with stimulus by deficit spending having failed in advanced economies and China and India also losing momentum, an international economist said. Both Hayek and fellow Austrian economist Ludwig von Mises had seen at firsthand what money printing, deficit spending and […]
Sri Lanka Treasuries yields head higher
Dec 28, 2011 (LBO) – Sri Lanka’s Treasuries yields edged higher at Wednesday’s auction, data from the state debt office showed. The 3-month Treasury bill yield increased 10 basis points to 8.68 percent while the six-month bills went for 8. 71 percent after bid were rejected last week. The 12-month yield increased 10 basis points […]
Sri Lanka stocks close up 1.3-pct
Dec 28, 2011 (LBO) – Sri Lankan stocks closed higher for the fourth straight day Wednesday with more deals in a bank helping to prop up turnover that fell to low levels, brokers said. The main All Share Price Index rose 1.30 percent (78.30 points) to 6,093.39, while the more liquid Milanka index rose 0.89 […]
Tracks
Dec 28, 2011 (LBO) – India’s Tata and Maruti brands is leading Sri Lanka’s vehicles market taking a lion’s share of both automobile and trucks, data compiled by a Colombo based stock brokerage shows. In November 1,348 Maruti cars were registered in a market where about 4,500 to 5,000 cars are registered each month, data […]
Containing Risk
Dec 28, 2011 (LBO) – Fitch Ratings has confirmed the Housing Development Finance Corporation Bank of Sri Lanka’s (HDFC) National Long-Term rating at ‘BBB+(lka)’ with a stable outlook. At the same time, the agency has confirmed the bank’s outstanding senior unsecured redeemable debentures at ‘BBB+(lka)’. “The ratings reflect HDFC’s demonstrated ability to contain interest rate […]
India FDI drops 50-pct to billion dollars in Nov
NEW DELHI, Dec 28 (AsiaPulse) – Reflecting the economic slowdown in the world’s major economies, foreign direct investment into India dipped by over 50 per cent to US$1.16 billion in October for the second month in a row. The country had received US$2.33 billion overseas investment in the same month last year. In September, the […]