Category:
Sri Lanka credit growth not alarming: CB Governor
Mar 28, 2011 (LBO) – Sri Lanka’s 28. 1 percent credit growth in the 12 months to January 2011 “is not alarming” because it is growing from a low base following a credit crunch two years ago, but the trend is being watched, Central Bank governor Nivard Cabraal said. In 2009, Sri Lanka’s credit contracted […]
” circles the globe
WASHINGTON, March 27, 2011 (AFP) – Lights went off around the world Saturday as landmark buildings and ordinary homes flipped their switches while the annual “Earth Hour” circled the planet in what was dubbed the world’s largest voluntary action for the environment. In Paris a minute’s silence was observed for Japan as the city of […]
Bulls turn bears on India as doubts grow
NEW DELHI, March 27, 2011 (AFP) – Investors have turned bearish on India despite government forecasts of nine percent economic growth, as concerns over widespread corruption and high inflation knock confidence, analysts say. Only a few months ago investors were pouring into Indian equities, seeing the country as a promising high-growth market and talking about […]
‘s Earth Hour for six
March 27, 2011 (AFP) – Sri Lanka put off marking “Earth Hour” because it clashed with the cricket World Cup, an official said Sunday. Sri Lanka had joined the WWF drive to switch off lights for an hour on Saturday to display its green credentials, but the day-night match between England and the home team […]
Sri Lanka invites New Zealand PM for semi-finals
March 27, 2011 (AFP) – Sri Lanka’s President Mahinda Rajapakse on Sunday invited New Zealand Prime Minister John Key to witness the cricket World Cup semi-finals between the two nations on Tuesday, an official said. Rajapakse asked Key to visit the island after the home team crushed England by 10 wickets on Saturday to reach […]
Sri Lanka put weary England out of misery
NEW DELHI, March 26, 2011 (AFP) – Sri Lanka ended England’s gruelling five-month global odyssey with a comprehensive 10-wicket triumph on Saturday to set up a World Cup semi-final showdown against New Zealand. Openers Tillakaratne Dilshan, with 108 not out, and Upul Tharanga, who hit an unbeaten 102, enjoyed their second 200-plus partnership of the […]
Sangakkara hails attack-minded Sri Lanka
March 26, 2011 (AFP) – Sri Lanka skipper Kumar Sangakkara credited his bowlers for keeping up the pressure on England right from the first ball in the World Cup quarter-final on Saturday. The Sri Lankan skipper said his team would not be complacent despite the huge victory. “It is important to be confident but we […]
Indian PM commits to reforms
NEW DELHI, March 26, 2011 (AFP) – India’s prime minister has reaffirmed his Congress-led government’s commitment to economic reforms as the administration battles a host of corruption scandals. Economic liberalisation had “ended old opportunities for corruption and favouritism… but human ingenuity and the desire to make a quick buck are such that the greedy are […]
Post war Sri Lanka tackling challenges in education, ageing population: World Bank MD
Mar 26, 2011 (LBO) – Sri Lanka is dealing with fresh challenges as a middle income country in education, the health sector while coping with a rapidly ageing population, after the end of a war, the World Bank has said. World Bank said it was ready to help the country with knowledge resources. Sri Lanka […]
Sri Lanka shares close up 0.33-pct
Mar 25, 2011 (LBO) – Sri Lankan shares closed higher Friday, extending the previous day’s gains with interest seen in a cable firm and several off-the-floor deals, brokers said. The All Share Price Index closed at 7,240.27, up 0.33 percent (23.52 points) while the more liquid Milanka index rose 0.65 percent (44.43 points) to close […]
Recovery Road
Mar 25, 2011 (LBO) – Fresh capital will soon be given to the remaining Sri Lankan finance companies that got into trouble two years ago, prompting intervention by the banking regulator, senior central bank officials said. “It has taken over two years but was much quicker than the liquidation process.” Strategic investors have been found […]
Credit Access
Mar 25, 2011 (LBO) – Sri Lanka’s NDB Bank has joined a World Bank credit scheme to channel low cost loans to small and medium enterprises (SMEs) through eight lending institutions. SMEs with an annual turnover of less than 300 million rupees operating in a large number of sectors are eligible to apply under concessionary […]