Category:
Sri Lanka Islamic insurer short of compliant investments
Sept 15, 2010 (LBO) – Amana Takaful, an Islamic insurer in Sri Lanka says the market does not have enough investment vehicles that are compliant with Shariah laws and also local regulations, where it can invest funds. Investment income from bank had fallen to 18.7 million rupees in 2009 from 36.2 million rupees a year […]
Sri Lanka securities watchdog halts broker credit
Sept 15, 2010 (LBO) – Sri Lanka’s Securities and Exchange Commission has ordered brokering firms to “absolutely refrain” from giving credit for clients to trade in stocks as rising prices reduced the immediate risk of delaying payment. In Sri Lanka purchases have to be settled in three days (T+3). However clients could continue to get […]
Japan intervenes in forex markets for first time since 2004
TOKYO, September 15, 2010 (AFP) – Japan on Wednesday intervened in currency markets for the first time since 2004 in a bid to stem the yen’s appreciation against the dollar, Finance Minister Yoshihiko Noda said. The dollar had hit a fresh 15-year low of 82. 86 yen in Tokyo before gaining sharply following the intervention, […]
Sri Lanka begins road show to market $1bn bond
Sept 14, 2010 (LBO) – Sri Lanka has kicked off a road show to sell a billion dollar sovereign bond later this month, a media report said. Officials and investment banks promoting the issue will meet fund managers till September 24, a Bloomberg newswires report said. Investor meetings will be held in Singapore, Hong Kong, […]
Sri Lankan stocks close up 0.72-pct
Sept 14, 2010 (LBO) – Sri Lankan stocks continued their rally to close at a new high Tuesday, on price gains on selected midcap stocks on low volume trading, while Distilleries Company, Richard Pieris and Aitken Spence boosted turnover, brokers said. Distilleries Company of Sri Lanka, another index heavy share closed at 184.00 rupees, up […]
Health Message
Sept 14, 2010 (LBO) – Sri Lanka has successfully done a trial project that helps early detection of killer communicable diseases using mobile phones to send data that also reduces costs, officials said. The ‘real-time bio-surveillance programme’ enables the rapid detection and notification of potential health outbreaks through mobile phones, software applications and a Web […]
Info on Tamil refugees stolen in Canada break-in
MONTREAL, September 13, 2010 (AFP) – Information about the 492 Tamils refugees who arrived in Canada last month aboard a cargo ship has been stolen from a Tamil organization in Toronto, the group said Monday. The Canadian Tamil Congress (CTC), which serves as the voice of Tamil Canadians, said that someone broke into its headquarters […]
” by S&P
Sept 14, 2010 (LBO) – Standard & Poor’s has raised its long-term foreign currency sovereign credit rating on Sri Lanka to ‘B+’ from ‘B’ and the long-term local currency rating to ‘BB-‘ from ‘B+’ with a stable outlook, a statement said. At the same time, Standard & Poor’s confirmed the ‘B’ short-term rating on the […]
Cuba to axe one million state jobs
HAVANA, September 14, 2010 (AFP) – Cuba has announced plans to slash one million state jobs and encourage the growth of its emerging small business sector in a gamble it hopes can keep its communist system and floundering economy afloat. Workers laid off from government jobs will no longer be sent home with partial pay, […]
” to begin in October
Sept 14, 2010 (LBO) – Sri Lanka’s statistics office has completed most of the preliminary work to conduct its first island-wide population count in 30-years with a ‘pilot census’ to begin in October, an official said. The census office started piling work a new building in Battaramulla, near Sri Lanka’s parliament Tuesday. The 62 year […]
Sri Lanka half-year budget deficit on track
Sept 14, 2010 (LBO) – Sri Lanka budget deficit up to June 2010 is on track with projected numbers though deficit monetization in subsequent weeks points to greater net cash deficits, official data show. Tax revenues picked up 16.0 percent to 309 billion rupees in the first six months of the year from a year […]
Location Lure
Sept 13, 2010 (LBO) – Service providers in the trade hubs of Dubai and Singapore have shown interest in a new port in southern Sri Lanka where a request for proposals from businesses has been issued, an official said. “To attract volumes to Sri Lanka we must have capacity; otherwise we might not attract regional […]