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Sri Lanka can improve environment to retain talent and boost skills: biz leaders
Mar 26, 2014 (LBO) – Sri Lanka could retain more highly skilled workers by boosting overall conditions and well as re-orienting its education system towards the needs of the market, senior business leaders said.He said people who had moved abroad would come back if conditions if education and health system quality was better. “But the […]
Sri Lanka Treasuries yields steady
Mar 26, 2014 (LBO) – Sri Lanka’s Treasuries yield were steady at Wednesday’s auction with the 3-month yield falling 01 basis points to 6.65 percent, data from the state debt office showed. The debt office offered 10 billion rupees of maturing debt to the market and only accepted bids worth 8.2 billion rupees from the […]
Sri Lanka stocks close flat
Mar 26, 2014 (LBO) – Sri Lanka’s stocks close flat Wednesday with some index heavy stocks losing ground, brokers said. Ceylon Tobacco Company closed 14.90 rupees lower at 1,083.00 rupees and Carson Cumberbatch closed 9.60 rupees lower at 360.00 rupees. Bukit Darah closed 24.80 rupees higher at 587.00 rupees and Nestle Lanka closed 19.20 rupees […]
Sri Lanka monk demands capture of wild elephants for temples
COLOMBO, March 26, 2014 (AFP) – A Sri Lankan Buddhist monk led a procession of elephants Wednesday, demanding authorities capture wild pachyderms from the jungle to boost the dwindling number of the animals in temples.Asian elephant expert Jayantha Jayewardene noted many Sri Lankans wanted to own elephants as a symbol of wealth. “It is prestige. […]
‘s Janashakthi Insurance ready for splitting, RBC regime
Mar 26, 2014 (LBO) – Sri Lanka’s Janashakthi Insurance was ready to split its life and general businesses, later list the second unit and also move to a risk based capital regime (RBC), an official said.Managing Director Prakash Schaffter said the businesses will be split later this year. The existing listed Janashakthi Insurance will be […]
” rating confirmed
Mar 26, 2014 (LBO) – Fitch Ratings has confirmed a ‘BB” issuer financial strength rating of Sri Lanka Insurance Corporation with a stable outlook. Fitch said it had a franchise built up since 1961 and an asset base of over 140 billion rupees. It was the market leader in non-life insurance taking 23 percent of […]
Sri Lanka faces censure at US rights body
COLOMBO, March 26, 2014 (AFP) – Sri Lanka faces fresh condemnation at the United Nations’ top human rights body this week in a move that observers say could lead to an international criminal investigation for war crimes.A US-led resolution demanding accountability for thousands of deaths of ethnic Tamil civilians five years ago is almost certain […]
Sri Lanka exports up in Jan 2014, trade gap down amid low credit growth
Mar 26, 2014 (LBO) – Sri Lanka’s exports surged 23.3 percent to 898.0 million US dollars in January 2014, and the trade gap narrowed 5.9 percent to 755.9 million US dollars amid low credit growth, official data showed. Industrial exports rose 23.6 percent to 691.6 million US dollars with apparel also up 23.4 percent to […]
”: legislator
Mar 25, 2014 (LBO) – The lack of audited accounts since 2011 for Sri Lanka’s Employees Provident Fund since 2011 is a “national tragedy” which “trampling of the rights of people,” a legislator has charged. Harsha de Silva an opposition United National Party legislator has been pressing for the accounts for the fund, the country’s […]
Sri Lanka stocks close up 0.5-pct
Mar 25, 2014 (LBO) – Sri Lanka’s stocks close 0.52 percent higher with tobacco stocks reversing the losses despite a net foreign outflow, brokers said. NDB Capital Holdings closed 20.00 rupees higher at 530.00 rupees and Ceylinco Insurance closed 129.10 rupees lower at 1,370.70 rupees. Trans Asia Hotels closed 2.90 rupees higher at 80.70 rupees […]