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Sri Lanka Muslim leader warns against extremism claims
COLOMBO, September 6, 2013 (AFP) – Sri Lanka’s main Muslim political leader, who is also the justice minister, criticised his own government Friday for blaming religious tensions in the mainly Buddhist nation on Islamic fundamentalism.Rauf Hakeem said he had been “disturbed” by recent comments from the country’s defence secretary, Gotabhaya Rajapakse which warned of efforts […]
Opposition Warning
Sept 06, 2013 (LBO) – Sri Lanka’s main opposition has warned that several finance companies are taking public deposits without meeting minimum statutory requirements, saying action was needed prevent disasters. “It is well known to the regulators and financial analysts that several finance companies who are still taking public deposits are on the verge of […]
Sri Lanka offered hi-tec dairy farm by Dutch firm
Sept 06, 2013 (LBO) – A Netherlands based company has offered to set up a hi-tec dairy farm with processing facilities with high yield milch cows, provided suitable land with fresh water is made available, officials said. Velema Holdings, a Netherland based investment firm, is offering to put together a turnkey dairy facility if about […]
‘s bond awaiting launch window
Sept 05, 2013 (LBO) – A planned global bond sale by Sri Lanka’s National Savings Bank is waiting for international market conditions to improve, sources following the deal said.An international road show on NSB ended this week but market conditions remained unstable with a possible US strikes on Syria looming over the horizon, market sources […]
Clear Message
PARIS, September 4, 2013 (AFP) – Big anti-smoking messages on the front of cigarette packets may help deter youngsters tempted by tobacco but have little effect when they are on the back of the pack, research has found. Touching on a subject that has stirred controversy in countries where pro- and anti-tobacco lobbies are fighting […]
Innovation
Sept 05, 2013 (LBO) – Content owners are now choosing to allow unauthorized posting of their material when given a chance to earn advertising revenues, a regional Google official said at a forum in Sri Lanka. Ann Lavin, head of government policy for Asia and Greater China at Google said, there were over 100,000 owners […]
‘s plans
MUMBAI, September 5, 2013 (AFP) – India’s rupee strengthened and stocks jumped Thursday after new central bank governor Raghuram Rajan outlined a reform plan aimed at boosting investor confidence and stabilising the ailing currency.The rupee climbed to 65.75 against the dollar, gaining nearly two percent from its previous close, on investor hopes the worst could […]
” violence
MALE, September 5, 2013 (AFP) – The Indian Ocean archipelago of the Maldives goes to the polls this weekend for a presidential election that will test its young democracy 18 months after a violent change in leadership. Its more than 1,000 islands sit aside the world’s most important east-west shipping channel and its strategic location […]
Sri Lanka and India in link to boost textile sector
Sept 05, 2013 (LBO) – India and Sri Lanka will sign a deal to promote handloom, powerloom and textile as a delegation visits the island during a fabric exhibition to be held next week.Zohra Chatterji, secretary of the ministry of textiles will lead a business and official delegation to the island and sign a memorandum […]
Sri Lanka raises over US$200mn from dollar bonds
Sept 04, 2013 (LBO) – Sri Lanka has raised over 200 million US dollars from dollar denominated bonds from mainly Middle Eastern banks, Central Bank Governor Nivard Cabraal said.The government has received funds up to three years through the sale of bonds styled ‘Sri Lanka Development Bonds (SLDBs) last week, Cabraal said. This is the […]
Sri Lanka sells smaller bill volume at auction
Sept 04, 2013 (LBO) – Sri Lanka has accepted only 2.7 billion rupees of bids for an auction of 9.0 billion rupees of maturing bills Wednesday with yields being flat, the state debt office said. The 3-months yield was at 8.61 percent, the 6-month yield was 9.64 percent and the 12-month yield was 10.56 percent. […]
‘s Pan Asia Bank becomes gilt dealer
Sept 04, 2013 (LBO) – Sri Lanka’s Pan Asia Bank Plc has been appointed a primary dealer in government securities, the Central Bank said. The bank has been given the nod to start operations from September 16..