Category:
Sri Lanka pressed by UN to free war-displaced
September 18, 2009 (AFP) – A top UN official was due to wrap up a three-day visit to Sri Lanka on Friday after pressing the authorities to free tens of thousands of war-displaced civilians held in internment camps. UN Under Secretary General for Political Affairs Lynn Pascoe is scheduled to meet with President Mahinda Rajapakse […]
Sri Lanka exports fall 18.9-pct, imports 35.3-pct to July
Sept 18, 2009 (LBO) – Sri Lanka exports fell 18.9 percent in the 7-months to July while imports fell 35.3 percent as a trade contraction continued, while the trade deficit narrowed 6.5 percent to 1,883 million US dollars. In July exports fell 23.1 percent to 652.2 million compared with exceptionally high growth recorded last year, […]
Sri Lankan stocks up 2.05-pct for second consecutive day
Sep 17, 2009 (LBO) – Sri Lanka stocks extended gains Wednesday closing 2.05 percent higher, up 95.8 percent over the beginning of the year, while an initial public offer of a power firm was over subscribed, brokers said.Hemas Power which offered 31.3 million shares to raise 626 million rupees has attracted subscriptions valued at over […]
Repair Work
Sept 17, 2009 (LBO) – Sri Lanka’s Colombo Dockyard said it has won repair orders from an Indian tanker owner with the end of the 30-year ethnic war helping to attract new business.The listed shipbuilder said in a statement that Pratibha Shipping Co had sent two tankers for dry-docking repairs in mid-June and early July, […]
Sri Lanka state rice stock pile to be sold
Sept 17, 2009 (LBO) – A lower grade government rice stock pile in Sri Lanka would be sold at 33 rupees a kilo, a government minister said, at time when the island’s staple food is near last year’s ‘food crisis’ levels.“We have built up a 44,000 tonnes of buffer stocks, we are only selling 15,000 […]
UN official visits Sri Lanka refugee camps
September 17, 2009 (AFP) – A top UN official toured camps holding thousands of war-displaced civilians in northern Sri Lanka on Thursday, amid international concern over delays in resettling the refugees.UN under secretary general for political affairs Lynn Pascoe, who arrived here late Wednesday, travelled to the northwestern district of Mannar and was to visit […]
Sri Lanka gets ADB loan to repair roads after war
Sept 17, 2009 (LBO) – The Asian Development Bank (ADB) said it is giving Sri Lanka a 70 million dollar road rehabilitation loan to support its drive to revitalize two provinces in the north and east. The loan, from ADB’s concessional Asian Development Fund, will fund the upgrade of 370 kilometres of roads and rebuild […]
Sri Lanka bill yields fall
Sept 16, 2009 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with 3-month yields falling 50 basis points to 10.04 percent the government’s debt office said. The 6-month yield fell 43 basis points to 10.96 percent and the 12-month yield fell 47 basis points to 11.50 percent. The debt office which […]
Sri Lanka pioneer closed-end fund raises Rs1.0bn
Sep 16, 2009 (LBO) – Sri Lanka’s first listed closed-ended fund, NAMAL Acuity Fund had been oversubscribed on the opening day and managers said an option to issue additional units will be exercised.Its managers said Wednesday it will issue 10 million units to raise 500 million rupees. The firm was planning to issue 10 million […]
Sri Lankan stocks rebound 1.52-pct
Sep 16, 2009 (LBO) – Sri Lankan shares bounced back Wednesday as investors heavily placed bets on index heavy John Keells Holdings (JKH), Distilleries Company and Commercial Bank, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 1.65 percent (46.80points) to end at 2,884.79, while the Milanka index of liquid stocks gained […]
Canal Conundrum
Sept 16, 2009 (LBO) – Work on the controversial Sethusamudram Ship Canal Project in the Palk Strait between Sri Lanka and India has halted again after the last dredger digging the channel was pulled out of service, a media report said.The project, about which Sri Lanka has expressed reservations, is meant to create a shorter […]
Liner Move
Sept 16, 2009 (LBO) – The Sri Lanka Ports Authority (SLPA) said it had held talks with a visiting delegation of senior officials from Emirates Shipping Line which plans to augment and enhance its services in the region.“The delegation had deliberations with SLPA top brass on how to strengthen the partnerships between SLPA and Emirates […]