Category:
Education Revamp
June 28, 2013 (LBO) – Sri Lanka will start a technology stream in its secondary school system and boost facilities and teachers to increase students studying science and commerce with a 200 million US dollar Asian Development Bank program. “The current system needs a major overhaul so that young people have the skills to enter […]
Fashionista
June 28, 2013 (AFP) – Sri Lanka’s military has released a woman leader of the Tamil Tiger militant group from four years of detention after she completed training in “bridal dressing”, the president’s office said Friday.The Tigers were known for their spectacular suicide bomb attacks and controlled a third of Sri Lanka’s territory at the […]
Peak Cellular
June 28, 2013 (LBO) – Sri Lanka’s mobile subscriber base has started to shrink, falling by almost a million subscribers in the first quarter of 2013, the first time since the industry began its explosive growth in 1992, data from the regulator showed.Total mobile subscribers fell 988,337 to 19,335,733 in the March 2013 quarter from […]
”: Bangladesh
DHAKA, June 28, 2013 (AFP) – A furious Bangladesh on Friday criticised a “shocking” decision by the United States to cut trade privileges after a deadly garment factory collapse, insisting it had taken concrete action to improve safety.In his announcement that Bangladesh was losing its duty-free trade privileges, US President Barack Obama said the Dhaka […]
US suspends GSP benefits to Bangladesh over worker safety
WASHINGTON (AFP) – The United States withdrew key trade privileges from Bangladesh Thursday, citing dangerous conditions for workers in the wake of a factory building collapse that killed over 1,100 people. The collapse was by far the worst disaster ever in the global textiles industry, leaving 1,129 people dead and shocking many used to the […]
Sri Lanka inflation up 6.8-pct in June 2013
June 28, 2013 (LBO) – Sri Lanka consumer prices rose 6.8 percent in the 12-months to June 2013, slowing from 7.3 percent in May, but prices rose 1.3 percent during the month, data from the state statistics office showed. The annual rate fall came from a so-called statistical base effect as last June’s inflation also […]
Sri Lanka needs human co-existence, institutions: Chamber boss
June 28, 2013 (LBO) – Sri Lanka has tremendous natural advantages to progress but needs human co-existence and better institutions of governance, a business chamber boss has said amidst rising nationalism and deteriorating institutions of liberty. Shah said Sri Lanka also needs to push exports for growth. He replaced Susantha Ratnayake as the head of […]
Sri Lanka stock market opening delayed over IT issue
June 28, 2013 (LBO) – Sri Lanka’s stock market trading is halted until a problem with client accounts in its automated trading system is resolved, the Colombo Stock Exchange said Friday. “We have found that a mismatch has arisen in certain client balances displayed on the Automated Trading System (ATS) during the pre-open session (9.00 […]
Sri Lanka says improving economic statistics
June 28, 2013 (LBO) – Sri Lanka is improving methods of compiling economic statistics but it was ‘grossly groundless’ to suggest that inflation is understated and gross domestic product overstated, the Central Bank said. The full statement is reproduced below:- A Clarification on Certain Media Reports on the Credibility of Statistics Published in the Central […]
Sri Lanka rupee fall unnecessary, no cause for concern: CB Governor
June 27, 2013 (LBO) – A sharp weakening of the rupee against the US dollar was unnecessary and there was no cause for concern Central Bank Governor Nivard Cabraal said as the rupee fell to one year lows.“There is no need for concern,” Cabraal said.“Those who buy at high prices will get hurt.” The Sri […]
Sri Lanka rupee reaches 130 to the dollar
June 27, 2013 (LBO) – Sri Lanka’s rupee was quoted as weak as 130.75/90 to the US dollar in the spot market Thursday, dealers said.In December the rupee traded at 130.55 levels, according to Bloomberg data. One week forwards were traded around 130.40/45 dealers said. The rupee steadily weakened amid excess liquidity in money markets […]
Expansion Idea
June 27, 2013 (LBO) – Sri Lanka’s People’s Leasing and Finance Plc, the island’s largest non-bank lender is studying investments in fast growing economies in South East Asia, shareholders were told.“We have already earmarked to penetrate into the growth centric Southeast Asia possibly Vietnam, Myanmar and Indonesia,” chief executive D P Kumarage said in the […]