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Sri Lanka shares rise, CDIC stake changes hands
July 11, 2008 (LBO) – Sri Lankan share prices ended higher Friday with a big deal between two banks pushing up turnover to over a billion rupees and indices rising on gains in Dialog Telekom and John Keels Holdings.There was some trading in plantations stocks although volumes were thin, he said. Updated The All Share […]
‘s June tourist arrivals fall 9.3-pct
July 11, 2008 (AFP) – Sri Lanka attracted fewer holidaymakers in June, the island’s main tourism promotion authority said Friday, blaming the drop in the number of visitors on the country’s ongoing ethnic conflict. Arrivals in June fell 9.3 percent to 27,960 from 30,810 reported a year earlier and totalled 224,363 in the first half […]
Maldives finance minister resigns
July 11, 2008 (LBO) – The finance minister of Maldives has resigned amid speculation that he may launch his own presidential bid through a different party, media reports from the archipelago said.The Minivannews.com, a web based news service, said finance minister Gasim Ibrahim had given his resignation to president Maumoon Abdul Gayoom, but the president […]
Sri Lanka bus shooting toll rises
July 11, 2008 (AFP) – At least four people were killed and 26 injured Friday when Tamil Tiger rebels opened fire on a bus in southern Sri Lanka, the defence ministry said. The incident took place just south of the capital Colombo in Buttala, police said, adding that the injured had been taken to nearby […]
Sri Lanka bus shooting kills three
July 11, 2008 (LBO) – Three people died and 16 were injured when gunmen opened fire on a passenger bus in Southern Sri Lanka in an area where Tamil Tigers have previously targeted civilians, the military said. The military said a passenger bus traveling to from Moneragala in the Uva province to Kataragama in Southern […]
Indian inflation at 11.89 percent
NEW DELHI, July 11, 2008 (AFP) – India’s annual inflation rate rose to 11.89 percent as the price of manufactured goods, food and fuel increased, according to the latest government data on Friday.The figure for the week ended June 28 was up from 11.63 percent for the previous week, according to the Wholesale Price Index, […]
China says foreign direct investment up 45.6 percent
BEIJING, July 11, 2008 (AFP) – Foreign direct investment into China grew by 45.6 percent in the first half of this year, the government said Friday.Foreign enterprises invested 52.4 billion dollars in China from January to June, the commerce ministry said in a statement posted on its website. The ministry did not give separate data […]
‘ fees
July 11, 2008 (AFP) – Sri Lanka Cricket has agreed to raise players’ fees and perks as part of a deal to settle a long-running dispute over contracts, officials said Friday. SLC officials and player representatives thrashed out a deal over the last two days that ended four months of negotiations, amid growing resentment by […]
‘ demands over England tour
July 10, 2008 (AFP) – Sri Lanka Cricket chiefs have agreed to try and postpone or reschedule next year’s England tour to allow its players to take part in the lucrative Indian Premier League, officials said Thursday.The tour, hastily arranged earlier this month after England suspended bilateral cricket relations with Zimbabwe, includes two Tests, three […]
Sri Lanka state cash flows hit by revenue shortfalls
July 11, 2008 (LBO) – Sri Lanka’s finance ministry had to rely on bank overdrafts and additional domestic borrowing to bridge cash gaps in the first five months of 2008 as revenues were below target, a government report said. The finance ministry said the cash deficit forecast for its operations by the end of May […]
Sri Lanka urged to relax exchange controls
July 11, 2008 (LBO) – A top Sri Lankan businessman whose companies have invested overseas says the government should relax exchange controls to make it easier for local firms to invest abroad, especially India with which trade deals are being struck.“We need a system where the central bank gives us freedom to invest in India […]
Sri Lanka-India trade deal to open investment, services from August
July 11, 2008 (LBO) – The Comprehensive Economic Partnership Agreement (CEPA) to be signed between India and Sri Lanka in August will allow professionals to work in either country but with safeguards to meet local concerns, economists said.The CEPA deal will make it easier for Sri Lankan companies to invest in India in areas like […]