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India revels in magical semi-final win
MOHALI, March 30, 2011 (AFP) – Thousands of delirious home fans brought the house down at the Mohali stadium on Wednesday after India ended Pakistan’s World Cup dream with a 29-run win in an action-packed semi-final. “We love you India,” screamed a group of college girls over Bollywood music blaring across the packed 30,000-seater Punjab […]
Sri Lanka inflation races to 8.6-pct in March 2011
Mar 31, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo shot up 8. 6 percent in March 2011 from a year ago, the highest since January 2009, and up from 7.8 percent in February, the government’s statistics office said. However, according to the month-to-month change, prices fell 0.3 percent in March with the […]
Sri Lanka economy grows 8.6-pct in 4Q
Mar 31, 2011 (LBO) – Sri Lanka’s economy grew 8. 6 percent in the fourth quarter of 2010, up from 6. 1 percent a year earlier and also higher than the 8.0 percent estimated for the third quarter, the government’s statistics office said. The office said the economy grew 8. 0 percent during the full […]
Sri Lanka industrial exports surge in January, trade deficit narrows
Mar 31, 2011 (LBO) – Sri Lanka’s exports surged 72. 4 percent in January 2011 to 813.4 million US dollars, helped by 121. 9 percent increase in apparel exports to 385.4 million US dollars, the Central Bank said. Consumer goods imports rose 35.6 percent to 316.7 million US dollars. Intermediate goods rose 15.7 percent while […]
Sri Lanka draws Irish investors
Mar 31, 2011 (LBO) – Thirteen companies and representatives from two universities from Northern Ireland will visit Sri Lanka on a business mission from April 2-5, the British High Commission said. Most of the members of the Invest Northern Ireland delegation are new to Sri Lanka and are keen to develop long-term relationships in their […]
Sri Lanka oration: RBI chief rubbishes SDR as dollar replacement
Mar 30, 2011 (LBO) – India’s central bank chief has rubbished the use of the International Monetary Fund’s special drawing rights (SDR) as a global currency in a speech in Sri Lanka in sharp contrast to a position taken by China’s central bank earlier. Many Middle Eastern countries created their own currencies after the devaluation […]
Sri Lanka Treasuries flat
Mar 30, 2011 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction with with11. 9 billion rupees of bills being sold to real buyers after offering 10 billion rupees in maturing the government’s debt office said. The 3-month yield was flat at 6. 98 percent with 2.7 billion rupees in bills being […]
Sri Lanka shares close down 0.21-pct
Mar 30, 2011 (LBO) – Sri Lankan shares closed lower Wednesday, with the benchmark index dipping below 7,200 points despite a late rally, and sustained interest in debutant Union Bank of Colombo which continued to weaken, brokers said. The All Share Price Index closed at 7,192. 72, down 0.21 percent (15.14 points) while the more […]
Transport Stalemate
Mar 30, 2011 (LBO) – A surfeit of ministries handling transport in Sri Lanka has turned the sector into a “nightmare” with fragmented responsibilities preventing urgently needed reforms to modernise a long-neglected system, an expert said. A “lead agency” is required to provide proper guidance to develop the island’s transport system, said Amal Kumarage, chairman […]
Director Changes
Mar 30, 2011 (LBO) – A director of Sri Lanka’s listed Commercial Bank of Ceylon has stepped down amid pressure from the state, deepening a controversy over recent appointment of state-connected officials to private listed banks. State funds hold large stakes in HNB. But a bank filing said the two directors were “non-executive/independent. ” Commercial […]
Sri Lanka, India agree not to use force on poachers
Mar 30, 2011 (LBO) – India and Sri Lanka have agreed not to use force on fishermen who break the law regularly by poaching in each other’s waters after illegally crossing the maritime boundary. They also agreed that representative of each nation’s fishing community, whose illegal cross-border forays for poaching have become a diplomatic issue, […]
Maldives reject World Cup terror plot theory
March 30, 2011 (AFP) – A Maldivian man arrested with the help of Interpol and initially linked to an alleged terror plot against the ongoing cricket World Cup has been cleared, an official said Wednesday. Iqbal Mohamed, 42, was arrested on March 10 at the Male International airport after arriving from Pakistan and was later […]