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Bernanke under fire in Congress; blames China
WASHINGTON, February 10, 2011 (AFP) – Federal Reserve chairman Ben Bernanke fended off criticism that he is ignoring the risk of rising prices Wednesday, as he faced a hostile Republican-controlled panel in Congress. “We remain unwaveringly committed to price stability,” Bernanke told the House of Representatives budget committee, rejecting claims that rising prices for food […]
Sri Lanka Treasuries yields steady
Feb 09, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction with the government selling 13. 5 billion rupees in bills after offering 11. 0 billion rupees of paper for roll-over. The government’s debt office which is a unit of the Central Bank said the 3-month yield eased one basis point to […]
Sri Lanka stocks close lower
Feb 09, 2011(LBO) – Sri Lankan stocks closed 0.1 percent lower Wednesday amid profit taking, brokers said. The All Share Price Index closed at 7,377. 44, down 0.10 percent (7.60 points) while the Milanka Price Index of more liquid stocks closed at 7,203. 75, up 0.06 percent (4.66 points) according to stock exchange provisional figures. […]
Box Moves
Feb 09, 2011 (LBO) – Container volumes at Sri Lanka Ports Authority (SLPA) terminals in Colombo port hit a new monthly record of 205,539, up 24 percent from a year ago, a statement said. Colombo port handled four million containers in 2010. The volumes exceeded the previous monthly high of 201,212 TEUs (Twenty-foot Equivalent Units) […]
Road Bill
Feb 09, 2011 (LBO) – Sri Lanka will need 55.6 billion rupees (500 million US dollars) to make emergency repairs and fully re-build roads damaged in record floods last month, an official said. The damaged roads were mostly in the Uva, Eastern, North Central and North Western provinces of the island. Pemasiri said road rebuilt […]
Appointment
Feb 09, 2011 (LBO) – Sri Lanka’s Seylan Bank has appointed Tilan Wijeyesekera an industry veteran with experience in financial services and consumer goods, to head its marketing and business development. Wijeyesekera has been at Lanka Milk Foods as general manager – marketing, head of marketing at Janashakthi Insurance, marketing business development manager at Elephant […]
Joint Stock
LONDON, February 9, 2011 (AFP) – The London and Toronto stock exchanges announced a landmark merger on Wednesday to create a one of the world’s biggest trading platforms that will dominate raw materials and energy. “London Stock Exchange Group plc and TMX Group Inc. today announced an agreement to combine Europe’s and Canada’s leading diversified […]
Top Up
Feb 09, 2011 (LBO) – Sri Lanka’s unit of UAE-based Etisalat said it has tied up with a payphone operator allowing prepaid customers to top up their balances or ‘re-load’ through call boxes. Etisalat is trying up with Tritel, which has a network of 1,600 call boxes around Sri Lanka. “We launched this with Tritel […]
Global aviation giants fly to India airshow
BANGALORE, February 9, 2011 (AFP) – Global aeronautical companies laid out their stalls Wednesday in one of the world’s hottest aviation markets, looking for a share of billions of dollars in Indian military and civilian contracts. “Owing to the ongoing modernisation plans of its armed forces, India has become the focal point of global defence […]
AirAsia says no fuel surcharge before oil hits $100
KUALA LUMPUR, February 9, 2011 (AFP) – Southeast Asia’s largest budget carrier AirAsia said Wednesday it has no immediate plans to impose fuel surcharges despite sharply higher oil prices. AirAsia chief executive officer Tony Fernandes told AFP that the carrier will only consider imposing a ticket surcharge if the New York crude futures contract hits […]
Sri Lanka irrigation repair bill Rs5.0bn after floods
Feb 09, 2011 (LBO) – Rebuilding Sri Lanka’s irrigation infrastructure after recent record floods will cost 5. 0 billion rupees (45 million US dollars) to the tax payer, with most of the damage taken by canals, officials said. The head of Sri Lanka’s irrigation department GGA Godaliyadda said systems coming under his agency which oversees […]
Sri Lanka shares end up 0.05-pct
Feb 08, 2011(LBO) – Sri Lankan stocks closed up Tuesday with some profit taking seen in the morning trades and retail investors pushing the market up by investing in small cap stocks, brokers said. The All Share Price Index closed at 7,385.04, up 0.05 percent (3.94 points) while the Milanka Price Index of more liquid […]