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UN rights chief pre-judging Sri Lanka
August 30, 2013 (AFP) – Sri Lanka’s President Friday suggested UN human rights chief Navi Pillay had pre-judged his Indian Ocean island, according to a statement from his office, as the nation faces allegations of war crimes.President Mahinda Rajapakse, in face-to-face talks with Pillay, told her that Sri Lankans believe that the UN is biased, […]
Sri Lanka not too worried over currency troubles: Treasury secretary
Aug 31, 2013 (LBO) – Sri Lanka was not much worried over currency troubles sweeping South Asia, Treasury Secretary P B Jayasundera said as the Indian Ocean Island followed India into import tightening.In 1991 the Reserve Bank of India completely ran out of foreign reserves and even shipped its gold reserves abroad before halting sterilized […]
Sri Lanka inflation up 6.3-pct in August
Aug 30, 2013 (LBO) – Sri Lanka’s inflation measured in the capital Colombo rose 6.3 percent in the 12-months to August up from 6.1 percent in July, though prices fell during the month, the state statistics office said.The Colombo Consumer Price Index fell 0.6 points during August to 176.2 points. ¬¬The food and non-alcoholic beverages […]
Sri Lanka rupee under moral suasion, bonds ease
Aug 30, 2013 (LBO) – Sri Lanka’s rupee was quoted at 132.95/133.10 to the US dollar in the spot next market amid moral suasion dealers said while bond yields eased slightly. Sri Lanka today imposed a 100 percent margin on letters of credit for car imports. Update II Interbank liquidity climbed to 5.1 billion rupees […]
Sri Lanka tightens rules on car imports amid currency pressure
Aug 30, 2013 (LBO) – Sri Lanka has imposed a 100 percent cash margin on letters of credit to import cars to slow the imports of cars, the Central Bank said as the rupee came under pressure in forex markets. The central bank said currencies of several trading partners have weakened against the Sri Lanka […]
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MUMBAI, August 30, 2013 (AFP) – India’s rupee resumed its downward trend against the dollar on Friday, after strong gains in the previous session, as dealers await GDP growth data and a statement from the prime minister on the ailing economy.The rupee — Asia’s worst-performing currency this year — was at 67.37 against the dollar […]
IMF avoids comment on speculation India seeking aid
WASHINGTON, August 29, 2013 (AFP) – The International Monetary Fund declined to comment Thursday on speculation that India, reeling under a currency crisis, may seek IMF assistance.A wave of poor economic news for India — the rupee crashed to a new record closing low Wednesday — has fueled talk that New Delhi might need to […]
Sri Lankan airlines says to change times or buy tickets quickly
Aug 30, 2013 (LBO) – State-run Sri Lankan Airlines has asked customers to change or buy tickets today as its reservation system, will not be accessible after midnight tonight. The reservation system will come online on September 01 following an upgrade. Passengers who want to buy tickets or change itineraries are being asked to contact […]
Sri Lanka overreacted to milk contamination: minister
Aug 30, 2013 (LBO) – Sri Lanka has probably overreacted in its response to stories of contaminated milk imported from abroad, information minister Keheliya Rambukwelle said.A trade union went to courts and got an order halting the sales of Fonterra products, and nationalists protested in front of its factory in Sri Lanka, leading to the […]
Lanka steps up attack on UN rights chief
COLOMBO, August 29, 2013 (AFP) – Sri Lanka ratcheted up criticism of the UN human rights body on Thursday, accusing it of repeated “vicious and baseless” allegations, as its chief visited the island to probe alleged war crimes.Foreign Minister Gamini Lakshman Peiris told Navi Pillay that Sri Lanka “resents vicious and baseless positions which are […]
‘s Softlogic debentures oversubscribed
Aug 29, 2013 (LBO) – Sri Lanka’s Softlogic Finance said a debenture offer of 500 million rupees was oversubscribed.The bond sale had attracted orders of 527 million rupees from commercial banks, institutions, development banks, institutions and retail buyers. The firm offered bonds paying a fixed rate annually, every six months and monthly. The sale was […]
Sri Lanka opposition warns on foreign borrowings, exchange rate
Aug 29, 2013 (LBO) – Sri Lanka’s main opposition United National Party has warned on continued foreign borrowings and the current developments in the island’s exchange rate market. Opposition legislator Harsha de Silva said in a statement that banks, including listed NDB and DFCC state banks are being pressured to borrow abroad to ultimately fund […]