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Sri Lanka vice-captain, selectors quit
April 6, 2011 (AFP) – Veteran batsman Mahela Jayawardene quit as vice-captain and a three-member selection committee also resigned en masse in a major shake-up in Sri Lankan cricket following the team’s World Cup defeat. “I think it’s time to move on, give the reins to someone younger in the team,” Jayawardene told AFP. The […]
Sri Lanka ties held back by rights concerns, US says
WASHINGTON, April 5, 2011 (AFP) – The United States said Tuesday that future cooperation with Sri Lanka depended on improvements in its human rights record and an accounting of the bloodshed at the end of the island’s civil war. With its strategic location and contributions to global peacekeeping, Sri Lanka “is poised to be a […]
Sri Lanka may need monetary tightening: ADB
Apr 06, 2011 (LBO) – Sri Lanka may need monetary tightening later in the year to contain rising inflation and maintain export competitiveness, though growth will be strong for the next two years, the Asian Development Bank said. A central bank inflates an economy mainly by a coercive legal tender law that forces people to […]
Sri Lanka HSBC, British Council backs students in business
Apr 06, 2011 (LBO) – Sri Lankan students studying at universities, private higher education institutions, vocational and professional bodies can win seed capital to start a business in contest launched by the British Council and HSBC bank. Aspiring students will have to submit a business plan to start enterprises in fashion design, architecture, crafts, tourism, […]
Sri Lanka and IMF to discuss ways to rope in excess money
Apr 06, 2011 (LBO) – The International Monetary Fund will discuss ways to deal with the excess money in Sri Lanka’s banking system in a bid to contain further inflation from being generated through the pegged monetary system. Sri Lanka’s central bank allowed inflation hit 8. 6 percent in the 12-months to March 2011 prompting […]
Sri Lanka shares end weaker
Apr 05, 2011 (LBO) – Sri Lankan shares closed marginally lower Tuesday with interest in poultry stocks and the finance sector, brokers said. The All Share Price Index closed at 7,370.02, down 0.04 percent (3.12 points) while the more liquid Milanka index fell 0. 15 percent (10.44 points) to close at 7,022.28, according to stock […]
‘s Textured Jersey says raised $15.8mn
Apr 05, 2011 (LBO) – Textured Jersey Lanka, a Hong Kong-Sri Lanka joint venture textile firm said it raised 1.74 billion rupees (15.8 million US dollars) through a private placement of shares ahead of a public offer. The joint venture partners, Hong Kong listed Pacific Textile Holdings and Sri Lanka’s Brandix, a private firm, said […]
‘s Muralitharan faces new test for British visa
April 5, 2011 (AFP) – Sri Lanka’s legendary spinner Muttiah Muralitharan is struggling to qualify to play English county cricket this year — because he is scared of computers and examinations. A recent change in Britain’s work visa rules means the world record holder must prove his English language skills at an examination to secure […]
Sri Lanka captain Sangakkara quits
April 5, 2011 (AFP) – Sri Lanka’s cricket captain Kumar Sangakkara said on Tuesday he was resigning from the job three days after his team lost to India in the World Cup final. Sangakkara said he told the national selectors that he would quit as one-day and Twenty20 captain with immediate effect, but offered to […]
Half Share
Apr 05, 2011 (LBO) – Sri Lanka’s Laugfs Gas will get 50 percent of the liquefied petroleum gas (LPG) produced by state-run Ceylon Petroleum Corporation, up from an earlier 30 percent on a presidential directive, the company said. The directive followed an April 04 meeting with the President attended by Treasury Secretary P B Jayasundera, […]
Sri Lanka IMF targets waived due to lack of data: official
Apr 05, 2011 (LBO) – Sri Lanka’s requirement for targets under an International Monetary Fund was “waived” because data was not available in time and not because they were missed, an official said. IMF’s Colombo representative Koshy Mathai said the lender gave the latest tranche despite the data not being available all the indications pointed […]
Sri Lanka gets more IMF cash; warned on excess liquidity
Apr 05, 2011 (LBO) – The International Monetary Fund has given Sri Lanka 218. 3 million dollars under its 2.5 billion US dollar program but called on the Central Bank to tighten liquidity management to prevent further inflation. Authorities expect Sri Lanka to generate less inflation after April. Sri Lanka is also expected to change […]