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India look to settle 17-year score in Sri Lanka
GALLE, July 16, 2010 (AFP) – India on Sunday embark on a third Test series in two years against Sri Lanka, with the world’s top-rated side hoping to end their 17-year drought in the island nation. The Indians have not won a Test series in Sri Lanka since a 1-0 success by Mohammad Azharuddin’s team […]
Sri Lanka former war zone economy grows: central bank
July 16, 2010 (LBO) – Sri Lanka’s northern and eastern provinces slightly increased their share of national Gross Domestic Product last year compared with 2008 following the end of a war, the Central Bank said. The western province remained as the highest contribution to GDP in 2009 but its share reduced further to 45. 1 […]
Sri Lankan stocks close up 0.84-pct
July 15, 2010 (LBO) – Sri Lankan stocks closed higher Thursday from price gains on manufacturing, hotel, hospital and banking shares, while retail investors continued to trade on speculative ‘penny’ stocks, brokers said. The All Share Price Index closed at 4,638.71, up 38.49 points, while the Milanka index of more liquid shares rose 0.99 percent […]
Cargo Risk
July 15, 2010 (LBO) – International insurers have removed Sri Lanka from their cargo war risk insurance list paving the way for reduced import costs, removal of surcharges and increasing business confidence, a government statement said. “Post-war economic revival would be greatly boosted with increased business confidence, reduction of the cost of imports, removal of […]
India Assam tea output to fall on pest attack: report
July 15, 2010 (LBO) – Tea output in India’s Assam region, the country’s top production region may fall 30 to 40 percent in the second half of 2010, leading to higher prices, a media report said. Last year India had produced 979 million kilograms of tea. Assam is said to produce more than half of […]
Dual Fight
July 15, 2010 (LBO) – Sri Lanka’s Nokia sales agents want to preserve market share by winning back customers from Chinese brands with the launch of handsets that can connect to two networks, an official said. The rest of the market is shared between other brands such as Blackberry, HTC, Motorola, Samsung and LG. Nokia […]
IT IPO
July 15, 2010 (LBO) – Sri Lanka’s PC House, an information technology firm, will raise 630 million rupees in an initial public offering (IPO) to expand its IT enabled services business and product distribution, officials said. “The government has taken a lot of initiatives, they have already started spending, trying to bring IT to the […]
South Korea unveils new measures to attract foreign tourists
SEOUL, July 15, 2010 (AFP) – South Korea Thursday unveiled new measures such as development of ecological attractions to attract more foreign tourists, especially from China. Six new quays for cruise ships will be created on the southern resort island of Jeju and in the western port city of Incheon and other coastal towns, the […]
Indonesia lukewarm on Australia asylum centre plan
JAKARTA, July 15, 2010 (AFP) – Indonesia gave a lukewarm response Thursday to Australia’s plans for a processing centre for asylum-seekers in East Timor, saying it was only a part of a regional solution to people-smuggling. The comments by Indonesian Foreign Minister Marty Natalegawa came after he agreed to meet his Australian counterpart Stephen Smith, […]
Sri Lanka mobile users up 30-pct in first quarter
July 15, 2010 (LBO) – Sri Lanka’s mobile phone subscribers grew 30 percent to 15. 0 million in the first quarter of 2010, while fixed wireless users grew 4.7 percent and wireline users were flat, official data show. Fixed wireless subscribers grew to 2. 58 million users in the first quarter from 2. 47 users […]
Sri Lanka Treasuries fall after rate cut
July 14, 2010 (LBO ) – Sri Lanka’s Treasuries yields fell Wednesday in the wake of a 25 basis point rate cut the previous Friday, according to auction results released by the government’s debt office. The 3-month yield fell 9 basis points to 7.98 percent, the 6-month yield fell 21 basis points to 8. 75 […]
Sri Lanka bond prices to be made transparent
July 14, 2010 (LBO) – Sri Lanka’s bond prices will be made more transparent and a sovereign yield curve for the country is being developed with the country’s central bank Bloomberg, an international financial news and information provider said. The yield curve has become more market driven of late though some state-centric incestuous practices such […]