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South Asia need freer trade to have food security: policy advocate
July 5, 2013 (LBO) – South Asian countries could improve food security by avoiding export restrictions in food and increases in overall trade will also help reduce poverty, a regional policy advocate said.Banning exports of food to neighboring countries and the rest of the world whenever prices go up should be avoided, Bipul Chatterjee, deputy […]
Sri Lanka stocks down 0.7-pct
July 04, 2013 (LBO) – Sri Lanka’s stocks closed down 0.73 percent on Thursday with losses in diversified companies and banking stocks, brokers said. Distilleries Company closed flat at 192.50 rupees and Ceylon Tobacco Company closed at 995.70 rupees down 3.80 rupees. Trading Thursday Sri Lanka stocks down 0.7-pct July 04, 2013 (LBO) – Sri […]
Sri Lanka state dairy firm financed by HSBC
July 04, 2013 (LBO) – Sri Lanka’s state-run Milco (Pvt) Ltd, a dairy products firm, is modernizing it factories with a 5.5 billion rupee credit structured by UK’s HSBC banking group, a finance ministry report showed. Milco markets and sells ‘Highland’ branded milk powder, liquid milk, ice cream and cheese. HSBC has previously helped channel […]
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NEW DELHI, 2013 (AFP) – India’s state-run banks will open 10,000 branches this year as part of a drive to extend formal financial services to the estimated 40 percent of the country without them, a minister said Wednesday.Spreading banking services is a key part of the government’s new cash transfer programme, that sees welfare beneficiaries […]
‘s boom time condos fail building rules
July 04, 2013 (LBO) – Over 71 condominiums, especially some built during a boom that ended in 2009 have failed to conform to building regulations, leaving those who bought them without deeds of transfer, an official said.But a number of apartments in Colombo have failed to conform to building standards and are yet to be […]
Sri Lanka Treasuries yields flat
July 03, 2013 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction with only the 3-month yield easing one basis point to 8.65 percent, data from the state debt office showed.The 6-month yield was flat at 9.70 percent and the 12-month yield was also flat at 10.66 percent. The debt office said 579 […]
Sri Lanka stocks down 0.4-pct
July 03, 2013 (LBO) – Sri Lanka’s stocks closed down 0.37 percent on Wednesday following gains of three straight days with losses in the diversified and consumer companies and some banking stocks, brokers said. The benchmark Colombo All Share Index closed 22.82 points higher at 6,117.97 and the S&P SL 20 Index closed 29.51 points […]
Tank Test
July 03, 2013 (LBO) – Sri Lanka’s state-run ports agency said it had begun testing a bunkering tank farm in at its newly built Hambantota port with a cargo of marine gas oil being unloaded.The tank farm has 08 tanks for marine fuel ranging from 3,000 cubic metres (two), 5,000 cubic metres (three) and 10,000 […]
Cricket: Tharanga on Caribbean ODI high for Sri Lanka
KINGSTON, July 2, 2013 (AFP) – Upul Tharanga plundered the highest individual score in a One-Day International in the Caribbean as Sri Lanka amassed 348 for one batting first against India in the third match of the Tri-Nation Series at Sabina Park on Tuesday.India did not help their cause in the field.Jayawardene was missed at […]
Sri Lanka income taxes collections up following lower rates
July 03, 2013 (LBO) – Sri Lanka’s income tax collection have risen sharply in the first few months of the year, despite a slowing economy after rates were brought down as part of tax reforms in 2011, according to a finance ministry report.The finance ministry said it reflected “a favourable consolidation of the impact of […]
China top Sri Lanka top lender up to April 2013, Japan follows
July 03, 2013 (LBO) – China has given 165.28 million US dollars for projects financed in Sri Lanka in the first four month of 2013, though Japan has committed more new funding in the period, official data show. The World Bank has disbursed 95.7 million US dollars (0.84 million in grants) in the period, coming […]
Sri Lanka interim budget data revealed according to law: opposition
July 03, 2013 (LBO) – Sri Lanka’s finance ministry has revealed budget data conforming to a fiscal responsibility law for the first time in years, opposition legislator Harsha de Silva has said. De Silva had also charged that changes to the fiscal responsibility law to allow the central government to increase the limit on guarantees […]