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Sri Lanka gold sales fall after tax: dealers
July 10, 2013 (LBO) – Gold purchases from dealers in Sri Lanka slowed after a 10 percent tax was imposed, despite prices falling further, industry players said.On Tuesday a gold sovereign (about 8.1 grams) the most popular benchmark price was quoted around 40,500 rupees for a 22 carats and 44,000 rupees for a 24 carats, […]
Sri Lanka needs free trade, FDI, better education, to sustain growth
July 10, 2013 (LBO) – Sri Lanka has to maintain economic stability free trade, draw more foreign investment and invest in education to boost productivity and sustain high levels of growth, officials said at the start of a policy forum.Ceylon Chamber of Commerce chief Suresh Shah said Sri Lanka had to export more to grow. […]
Sri Lanka forex markets in spot next mode
July 09, 2013 (LBO) – Sri Lanka’s forex markets continued to trade in the spot-next market where settlement is three days ahead, with the spot market remaining dry for the second day running and interbank liquidity high, dealers said. In the spot market, where deals are settled two days later there were no quotes amid […]
Sri Lanka stocks down 0.2-pct.
July 09, 2013 (LBO) – Sri Lanka’s stocks closed down 0.26 percent on Tuesday with the market down for the fifth consecutive day amid losses in index heavy stocks, brokers said. The benchmark Colombo All Share Index closed 15.48 points lower at 5,980.16 and the S&P SL 20 Index closed 03.53 points lower at 3,347.96 […]
Sri Lanka grows rubber in new areas
July 09, 2013 (LBO) – Sri Lanka has expanded rubber cultivation into the non-traditional dryer regions of the island™s Eastern and Northern regions with the crop showing high yields in several pilot projects, a senior official said. “We have introduced rubber into the Eastern and Northern region,” Gamini Seneviratne, director, Rubber Research Institute of Sri […]
Sri Lanka tea crop hit by heavy rains
July 09, 2013 (LBO) – Sri Lanka’s tea crop has been hit badly by heavy rain in June with some estates seeing production falling to less than half and losses in some firms mounting to 100 million rupees, an industry association said.The Ceylon Planters’ Association of Ceylon, representing about two dozen large firms said due […]
India market regulator seeks to halt rupee slide
NEW DELHI, July 9, 2013 (AFP) – India’s financial markets regulator on Tuesday sought to halt the slide of the rupee by restricting speculative trading in the currency — a day after the unit hit a new lifetime low against the dollar.The Securities and Exchange Board of India (SEBI) said it was taking the action […]
Indian rupee tumbles to new record low
MUMBAI, July 8, 2013 (AFP) – India’s rupee slid to a new record low against the dollar Monday as the greenback was boosted by stronger than expected US jobs numbers. The rupee has fallen nearly 12 percent against the dollar this year, making it the worst performing currency among major Asian economies. The Reserve Bank […]
Cricket: Two Sri Lanka umpires banned over TV sting
COLOMBO, July 9, 2013 (AFP) – Sri Lanka cricket bosses on Tuesday banned two umpires named by an Indian television programme last year that claimed they were willing to make favourable decisions during matches for cash.Sri Lanka Cricket (SLC) said it banned Sagara Gallage for 10 years from umpiring in domestic matches, and Maurice de […]
Cricket: Sri Lanka weather the storm to beat WIndies
PORT OF SPAIN, July 8, 2013 (AFP) – Sri Lanka weathered a middle-order revival by the West Indies and held on for a 39-run victory on the Duckworth/Lewis Scoring Method in a rain-affected fifth match of the Tri-Nation Series at Queen’s Park Oval on Monday.Sangakkara’s 95-ball knock, his 76th half-century in one-day international cricket, included […]
India pushes Sri Lanka to share power with Tamils
July 9, 2013 (AFP) – India urged Sri Lanka Tuesday to honour international pledges and share political power with ethnic Tamils after Colombo signalled it will dilute an Indian-brokered devolution plan.India’s National Security Adviser Shivshankar Menon ended a two-day trip to Colombo urging an “early political settlement and national reconciliation”, the Indian High Commission (embassy) […]
Sri Lanka fisheries, port industries eyed by Russia: biz association
July 09, 2013 (LBO) – Russian investors are looking at Sri Lanka’s fisheries, agriculture and port industries in Trincomalee, a country’s senior envoy had said in Colombo, a business association said.The Sri Lanka – Russia business council of the Ceylon Chamber quoted counselor of Russian Federation, Evgeni Sergienko, as saying at their annual general meeting […]