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‘s Tess Agro in Rs117mn cash call
Sept 18, 2013 (LBO) – Sri Lanka’s Tess Agro, a fish exporter has made a 117 million rupee cash call to finance a European marketing arm and a domestic project.. The Tess Agro said it wants to sell 60 million ordinary shares at 1.50 rupees to shareholders at the rate of one for every three […]
Beluga whales create art in Japan aquarium
TOKYO, September 18, 2013 (AFP) – Beluga whales at an aquarium near Tokyo are learning how to paint pictures as part of an autumn art programme for visitors, an official said Wednesday.The sea creatures at the Hakkeijima Sea Paradise aquarium in Yokohama will be showing off their skills with specially adapted paintbrushes that they can […]
‘s Krrish: minister
Sept 18, 2013 (LBO) – India’s Krrish group has paid another installment for state land given to their project including interest for delays investment promotion minister Lakshman Abeywardene said. The project has become controversial due to payment delays and has come under fire from the opposition for not being awarded on open tender. At the […]
Ford to step down as Sri Lanka cricket coach
COLOMBO, September 18, 2013 (AFP) – Sri Lanka will seek a new coach after South African Graham Ford declined to extend his two-year term beyond January, cricket officials said on Wednesday.“The national coach has indicated of his unavailability to continue after his contract expires in January 2014,” Sri Lanka Cricket said in a statement. “He […]
‘s ex-war zone vote
JAFFNA, September 18, 2013 (AFP) – Foreign observers held talks with officials and candidates in Sri Lanka’s former war zone Wednesday to ensure the region’s first elections to choose a semi-autonomous council pass off peacefully, officials said. Some 906 candidates are contesting the 36 seats in the Northern council which is going to the polls […]
Sri Lanka holds policy rates, says lending rates easing
Sept 17, 2013 (LBO) – Sri Lanka’s central bank kept its policy rate band at 7.0 and 9.0 percent saying lower pressure from the state budget deficit is expected to bring down lending rates further.“Continued fiscal consolidation efforts by the government and greater financial discipline of public corporations are expected to reduce the public sector’s […]
Sri Lanka Treasuries yields flat
Sept 19, 2013 (LBO) – Sri Lanka’s Treasuries yields were flat across maturities at Tuesday’s auction though less than half the volume offered was sold to bidders in the market, data from the state debt office showed.The 3-month yield was 8.61 percent, the six month yield was 9.64 percent and the 12-month 10.57 percent. The […]
Sri Lanka stocks close down 0.4-pct
Sept 17, 2013 (LBO) – Sri Lanka stocks closed 0.43 percent lower on dull investor sentiments with losses in groups such as Carsons, Cargills and Ceylon Tobacco, brokers said. The benchmark Colombo ASPI closed 24.86 points lower at 5,705.26, down 0.43 percent, and the S&P SL20 closed 18.34 percent lower at 3,161.90 down 0.58 percent. […]
Changing Environment
WASHINGTON, September 16, 2013 (AFP) – The World Bank must be more selective and flexible in its work as its faces rising financial constraints and challenges from rivals, according to an internal strategy document seen Monday.The choices include greater risk-taking, cutting back on bureaucracy and adapting commercial-like work with the private sector, moves which would […]
Strategic Focus
Sept 17, 2013 (LBO) – Fitch Ratings said it had confirmed an ‘AAA(lka)’ domestic rating of Sri Lanka’s Citibank branch (CitiSL) with a stable outlook, amid a contracting loan book.Its loan book contracted by 18% in H113 and 9% in 2012, in contrast to loan expansion in the overall banking system, reflecting CitiSL’s focus on […]
Sri Lanka, China to close free-trade deal: Colombo
COLOMBO, September 17, 2013 (AFP) – Sri Lanka and China will finalise a free-trade agreement ahead of a Commonwealth summit in Colombo in November, a government minister said on Tuesday.Sri Lanka entered into a controversial free-trade agreement with neighbouring India in December 1998 during Sri Lanka’s bloody separatist conflict, but both sides have been bickering […]
Sri Lanka gets US$540mn in FDI in 2013 first half
Sept 17, 2013 (LBO) – Sri Lanka has received 540 million US dollars in foreign direct investments up to June 2013 up 20 percent from a year earlier, investment promotions minister Lakshman Abeywardene said.The top investor in the period was Colombo International Container Terminal, from China and Hong Kong with 116.7 million US dollars, followed […]