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Sri Lanka among Asian countries struggling with capital inflows: IMF official
Feb 26, 2011 (LBO) – Sri Lanka is among Asian nations struggling with capital inflows driven by excessive money printed in advanced nations, raising the risks of high inflation and asset booms, a senior International Monetary Fund official said. “Sri Lanka is one country that has faced a surge in capital flows,” IMF deputy managing […]
Sri Lanka shares close 1.69-pct higher
Feb 25, 2011(LBO) – Sri Lankan stocks closed 1.69 percent higher Friday with gains in the investment trust and oil palm stocks, brokers said. The All Share Price Index closed at 7,711. 62, up 1.69 percent (128.20 points) while the Milanka Price Index of more liquid stocks closed at 7,169. 35, down 0.09 percent (6.71 […]
Sri Lanka wild life park lures Shangri-La
Feb 25, 2011 (LBO) – Hong Kong based Shangri-La hotels has looked at two sites including one close to a well-known wild life reserve in southern Sri Lanka to site its second proposed hotel, an official said. Deputy minister for economic development Lakshman Yapa Abeywardene said visiting Shangri-La officials had examined a site close to […]
Sri Lanka tea quality season hit by bad weather
Feb 25, 2011 (LBO) – Bad weather has disrupted the Sri Lankan tea industry’s ‘Western quality season’ when teas grown on the western slopes of the island’s central massif yield their best quality and fetch high prices, brokers said. The season, which is in the first quarter of the year “has been badly disrupted due […]
‘ Donuts takes the plunge in India
NEW DELHI, February 24, 2011 (AFP) – US-based Dunkin’ Donuts, one of the world’s largest coffee and baked goods chains, is set to enter India after striking a franchise deal, the company’s Indian partner said Thursday. The announcement came barely a month after US rival Starbucks unveiled a similar partnership with the giant Indian conglomerate […]
Sri Lanka rejects EU trade deal: European lawmaker
Feb 25, 2011 (LBO) – Sri Lanka has told the European Union it does not want to renew a trade deal that was withdrawn over EU concerns about human rights abuses in the island’s ethnic war, a visiting EU lawmaker said. Jean Lambert, member of the European Parliament, said talks with Sri Lankan government officials […]
Sri Lanka joins chorus against Fed QE2
Feb 25, 2011 (LBO) – Sri Lanka joined the chorus of developing nations voicing concerns about the negative effects of Federal Reserve’s latest money printing exercise known as ‘quantity easing’ at an Asian monetary forum newly backed by China. Ultra loose US monetary policy has flooded developing countries that are pegged to the US dollar […]
Sri Lanka shares close 0.4-pct higher
Feb 24, 2011(LBO) – Sri Lankan stocks closed 0.46 percent up with retail investor interest seen in Piramal Glass Ceylon and oil palm firms, brokers said. The All Share Price Index closed at 7,583.42, up 0.46 percent (34.56 points) while the Milanka Price Index of more liquid stocks closed at 7,176.06, down 0.07 percent (05.07 […]
‘ Parley
Feb 24, 2011 (LBO) – The heads of east Asian central banks begin a meeting in the Sri Lankan capital Colombo Friday to discuss challenges facing monetary authorities in emerging markets after the global financial crisis. The Central Bank of Sri Lanka will host the 46th South East Asian Central Banks (SEACEN) Governors’ conference, high-level […]
Net Margins
Feb 24, 2011 (LBO) – Sri Lanka’s Commercial Bank said profits in the December 2010 quarter rose 46.8 percent to 1.77 billion rupees while the full year profits rose 31 percent to 5.5 billion rupees, helped by stronger credit growth. The non-performing loan ratio has improved to 4.22 percent by end December 2010, from 6. […]
Bank Net
Feb 24, 2011 (LBO) – Sri Lanka’s NDB Bank’s net profit for the December 2010 quarter rose 25 percent to 607 million rupees from a year earlier while the full year net rose 3. 0 percent to 2.14 billion rupees. The bank is reporting 26.22 rupees earning per share for the year. In the December […]
Sri Lanka want World Cup win for Murali
February 24, 2011 (AFP) – Sri Lanka want to win the World Cup as a farewell trophy for legendary spinner and world record holder Muttiah Muralitharan who will retire from international cricket after the tournament. The spinner, who holds the records for Test (800) and one-day wickets (521), is playing his fourth and final World […]