Category:
Sri Lanka begins groundwork for wind power
Dec 09, 2009 (LBO) – Groundwork for Sri Lanka’s largest wind power project has begun ahead of its launch in May next year, with the contract for logistics services given to global firm, Agility Project Logistics. The company has handled over 210 major projects in the past five years and has operations in 120 countries. […]
Sri Lanka ex-general fears Tiger attack on presidential bid – Interview
December 8, 2009 (AFP) – Sri Lanka’s former military chief who led troops to victory over Tamil separatists in May said he fears fugitive rebels will try to assassinate him during his presidential election campaign.Sarath Fonseka, who is trying to unseat President Mahinda Rajapakse in the January 26 elections, told AFP that about 1,000 Tamil […]
Risk Cover
Dec 08, 2009 (LBO) – The Asian Development Bank (ADB) said it has signed trade finance agreements with three Sri Lankan banks that will help them provide loans and guarantees to exporters and importers.“Nevertheless, companies in emerging markets, particularly small and medium-sized firms, have typically faced difficulties in accessing enough credit to fill export orders […]
Bank Watch
Dec 08, 2009 (LBO) – Sri Lanka’s Central Bank is to introduce a mandatory deposit insurance scheme, strengthen bank supervision and launch an internal rating system for banks, governor Nivard Cabraal said.These were some of the new measures the banking regulator is taking to strengthen the island’s financial system to ensure its future stability and […]
Sri Lanka November tourist arrivals up 20-pct
Dec 08, 2009 (LBO) – Sri Lankan tourist arrivals for November went up 20.1 percent to 44,311 from a year ago, boosted by more visitors from key markets like the United Kingdom, Germany and India, while arrivals from Eastern Europe dipped, tourism data showed. Cumulative arrivals, which had fallen steadily till May, were up 0.4 […]
Sri Lanka lures Indian tourists by sea
Dec 08, 2009 (LBO) – Sri Lanka has struck a deal with the world’s fifth largest cruise line to attract Indian tourists to the island by cruise ship, officials said. The Tourism Promotion Bureau said the cruise calls are expected to increase the number of Indian tourists visiting the island by 4,000 a month. Its […]
India in new privatization drive
NEW DELHI, December 8, 2009 (AFP) – The Indian government will complete stake sales in three state-run companies by the end of the current financial year in March, Finance Minister Pranab Mukherjee said Tuesday.Divestment of five percent each in the National Thermal Power Corporation and the Rural Electrification Corporation and 10 percent in Satluj Jal […]
”’ Sri Lanka: Senate
WASHINGTON, December 7, 2009 (AFP) – A US Senate report warned Monday that Washington risked “losing” Sri Lanka as it recovers from war and called for more active engagement to stop the island drifting from the West.The Senate Foreign Relations Committee, in a bipartisan study, said the United States should be firm on human rights […]
Sri Lankan shares up 0.83-pct
Dec 07, 2009 (LBO) – Sri Lankan shares closed up Monday with retailers taking profits on small and medium counters, while large capped stocks headed by selected high value blue chips pushed the bourse up, brokers said. The All Share Price Index closed at 3,025.37 up 0.83 percent (25.04 points) while the Milanka Price Index […]
Cargo Screening
Dec 07, 2009 (LBO) – A US decision to extend the deadline for scanning all containers entering the country will afford relief to Sri Lankan exporters who had been concerned it would cause delays and raise costs.A new report by the US Government Accountability Office (GAO) said the Customs and Border Protection has made relatively […]
War Risk
Dec 07, 2009 (LBO) – Sri Lanka is sending a team of shipping and navy officials for talks with London underwriters to get the island off the war risk insurance rating list, shipping officials said. The team would seek a fresh risk evaluation following the end of the ethnic war and removal of the island […]
Guarantee Status
Dec 07, 2009 (LBO) – Finance and Guarantee Company Limited, a regulated finance company in the troubled Ceylinco group will be renamed The Island Finance Company, the Central Bank said. The company suffered liquidity constraints in the wake of the crisis in the Ceylinco Group and its day to day operations were restricted following legal […]