Category:
Sri Lanka gets EU aid for war-torn areas
June 17, 2010 (LBO) – The European Union has allocated 60 million euro (8.4 billion rupees) as aid to Sri Lanka mostly for the island’s north and east which were ravaged by war, a statement said. “The programme will mainly focus on medium-term assistance in the North and East of the country,” the statement from […]
Sri Lanka Central Bank governor in second term
June 17, 2010 (LBO) – Sri Lanka’s Central Bank governor Nivard Cabraal has been re-appointed for another six-year term, an official said. He has also kicked off a foreign exchange liberalization drive that will increase the economic freedoms of ordinary people. Cabraal became governor of the Central Bank of Sri Lanka in 2006 to complete […]
Sri Lanka Bank of Ceylon bond sale extended
June 15, 2010 (LBO) – Sri Lanka’s state-run Bank of Ceylon said it was keeping a debenture issue open for more applications after applications topped an initial target of 3.0 billion rupees. A floating rate bond was priced 0.75 percent above the gross 6-month Treasury bill yield. The bank said its listed 5-year debenture issue […]
Sri Lankan stocks becalmed, foreigners still selling
June 16, 2010 (LBO) – Sri Lankan stocks closed flat Wednesday as high net worth investors cashed out on banking stocks and re-invested on midcap stocks, while foreign investors continued to sell, brokers said. The All Share Price Index closed at 4,603.36, down 3.33 points, while the Milanka index of more liquid stocks rose 0.02 […]
Sri Lanka mulls planting rubber in former northern war zone
June 16, 2010 (LBO) – The Sri Lankan government is considering planting rubber in the former war zone in the north to increase production and meet growing demand from local industries, the plantations industries minister said. “The rubber industry says they have the ability to make more rubber products if raw material was available,” he […]
Unheard Killer
June 16, 2010 (AFP) – At least 15 people using their mobile telephones while walking on railway tracks have been killed by trains in Sri Lanka this year, a railways official said Wednesday. There are about 14 million mobile phone users in Sri Lanka, which has a population of 20 million people. Accidents have increased […]
Indonesia detains 1,300 migrants this year
JAKARTA, June 16, 2010 (AFP) – Indonesian police said Wednesday that more migrants are landing on its shores this year than before, intensifying the country’s struggle to crack down on people-smuggling. Close to 1,300 migrants were detained between January and June this year, many of whom were trying to reach Australia, national police security and […]
‘s Malinga rattles Pakistan in Asia Cup opener
DAMBULLA, June 15, 2010 (AFP) – Sling-arm fast bowler Lasith Malinga grabbed 5-34 as defending champions Sri Lanka stunned Pakistan by 16 runs in the opening match of the Asia Cup on Tuesday. Shahid Afridi’s first one-day century in five years was in vain as Sri Lanka, restricted to 242-9, bowled out Pakistan for 226 […]
Japan seeks transparency in Sri Lanka after war
June 16, 2010 (AFP) – A visiting Japanese envoy said Wednesday that Sri Lanka must ensure an open and fair process to address grievances of minority Tamils after the end of the civil war last year. “We expect our reconciliation commission to address all issues to the conflict as part of our healing process. ” […]
Disaster Drill
June 16, 2010 (LBO) – Oil exploration disasters are likely to continue in future as energy continues to dig deeper in the Ocean for petroleum products an analyst warned in Colombo, as Sri Lanka prepares for submarine drilling. “The hunger of energy and the need for energy is still on the rise and in the […]
Sri Lanka holds policy rates steady in June
June 16, 2010 (LBO) – Sri Lanka is holding its main policy rate at which money is injected to the economy steady at 9.75 percent with inflation falling and credit to businesses expanding, the Central Bank said. The Central Bank said inflation fell for the third consecutive month, reaching 5.3 percent in May and it […]
Sri Lankan stocks close 0.1 lower on retail profit taking
June 15, 2010 (LBO) – Sri Lankan stocks closed 0. 1 percent lower Tuesday as retailers took profits from mid and low cap stocks, despite banks making gains, brokers said. In another private deal 250,000 Nations Trust Bank shares changed hands at 50.50 rupees per share. It closed at 50.50 rupees, up 1.25, brokers said. […]