Category:
Payment System
March 27, 2008 (LBO) – The SAARC Payments Initiative (SPI), enabling a more efficient payment mechanism among south Asian countries, is to be launched in Colombo tomorrow, the Sri Lanka Central Bank said Thursday. The initiative will upgrade the region’s payment systems to international standards and help promote trade and investment in south Asia, a […]
Equity Hedge
Mar 27, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance said it was on track for a public listing after recording profits of 525 million rupees in 2007, with strong results from general insurance and investment income boosting the bottom line. The firm’s total revenue with investment income rose to 5.2 billion rupees from 4.7 billion […]
Sri Lanka tourism industry has bounce-back capacity: officials
Mar 27, 2008 (LBO) – Sri Lanka’s tourism industry has the capacity to bounce back, officials who returned from a travel fair in Germany after spreading the message that island is safe for foreign visitors, said. “Right now we are going through a bit of a slow down,” Hiran Cooray, the Managing Director of Jetwing […]
‘s Hayleys in high value farming
Mar 27, 2008 (LBO) – The United States Agency for International Development (USAID) is teaming up with Sri Lanka’s Hayleys group to lift rural subsistence farmers into commercial high value agriculture, the US embassy in Colombo said. The first pilot project will start in April involving 120 farmer families in two of Sri Lanka’s poorest […]
Sri Lanka Janashakthi Insurance to sell 16.5mln shares at Rs12
Mar 27, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance is planning to sell 16.5 million shares priced at 12 rupees a share through an initial public offer to raise 198 million rupees, an official said. . The company has called a special meeting of its existing shareholders this Friday seeking approval to start the public […]
Maldives police investigate major heroin find
COLOMBO, March 27, 2008 (AFP) – Maldives police have started a probe into the source of 10 kilograms (22 pounds) of heroin found smuggled into the tiny island capital of Male, officials said Thursday.Police found the drugs at a two-storey apartment on Wednesday night and said the haul was the biggest illegal drug find in […]
Australian financial system coping with global strains: central bank
SYDNEY, March 27, 2008 (AFP) – The Australian financial system had coped better with the recent global strains than many other countries, the central bank said Thursday in its half yearly financial stability review.The banking system remained highly profitable and well capitalised, with the banks having minimal direct exposure to the subprime problems in the […]
US firm unveils two-seat craft for space tourism
BEVERLY HILLS, California, March 26, 2008 (AFP) – Plans for a two-seater aircraft designed to shuttle tourists to the brink of outer space were unveiled Wednesday by a firm aiming to secure a slice of the nascent galactic travel market.California-based XCOR Aerospace hopes that its Lynx craft will allow space tourists to get a tantalising […]
UN spotlights scope of AIDS epidemic in Asia
UNITED NATIONS, March 26, 2008 (AFP) – Nearly 500,000 people will die of AIDS each year in Asia by 2020 unless prevention efforts are fully implemented, a UN report said Wednesday. The figure is up from 440,000 that currently die each year, according to the report commissioned by the United Nations Program on HIV/AIDS (UNAIDS). […]
Jayawardene hails bowlers after Sri Lanka win
PROVIDENCE, Guyana, March 27, 2008 (AFP) – Sri Lanka captain Mahela Jayawardene paid tribute to his bowlers for dismissing West Indies twice on what was widely acknowledged as a docile Guyana National Stadium pitch, and handing the visitors their first Test match win in the Caribbean. The tourists created a bit of history, when they […]
Historic win for Sri Lanka over Windies in cricket test
PROVIDENCE, Guyana, March 26, 2008 (AFP) – Chaminda Vaas played a starring role with the ball, as Sri Lanka created a bit of history, when they completed a 121-run victory over West Indies in the opening Test on Wednesday. Vaas captured five wickets for 61 runs from 22.2 overs and Muttiah Muralitharan took three for […]
Sri Lanka trade deficit doubles in January
Mar 27, 2008 (LBO) – Sri Lanka’s trade deficit doubled to 610.8 million US dollars in January as a surge in oil and capital goods imports outpaced gains from an agricultural commodity boom, government data showed. Sri Lanka has recorded a balance of payments surplus in the first two months of the as the central […]