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Sri Lanka beckons foreign workers
May 17, 2013 (LBO) – Sri Lanka’s post-war economic revival and tightening labour markets are throwing up opportunities for workers from abroad, including those who had left the island, business and state officials said.Central Bank Governor Ajith Cabraal said at the launch of the website that soon after he qualified as an accountant in 1976, […]
Sri Lanka says minefields cleared for re-settlement
COLOMBO, May 16, 2013 (AFP) – Sri Lankan troops have completed clearing mines from all areas needed for re-settlement and farming in the island’s former war zone, the military said Thursday, nearly four years after crushing Tamil rebels.Sri Lanka’s army reported one soldier died and 15 were wounded during the mine clearing, while several civilians […]
Ecuador stops Sri Lanka-US migrant smuggling ring
QUITO, May 16, 2013 (AFP) – A ring that smuggled immigrants from India and Sri Lanka into the United States through Ecuador has been broken up with the arrest of six people, Ecuadoran authorities said Thursday.Police, who said the arrests were made following a two-month investigation, seized documents, laptop computers and nearly $100,000 in cash. […]
Sri Lanka rupee strengthens amid tight liquidity
May 16, 2013 (LBO) – Sri Lanka’s rupee strengthened to 125.70/80 to the US dollars in the spot in mid morning trade Thursday, amid tight liquidity but a two week liquidity auction has been announced, dealers said. The Central Bank cut its policy interest corridor by 50 basis points to 7.00 and 9.00 percent last […]
Better Trade
May 16, 2013 (LBO) – Small businesses in Sri Lanka and the Maldives will soon have access sophisticated financial products to engage in international trade, International Finance Corporation (IFC), a member of the World Bank Group said. The organization also provides advisory services to for small and medium enterprises by improving access to finance, and […]
James Packer targets Asian high-rollers with new Sydney casino
Sydney, May 16, 2013 (AFP) – Tycoon James Packer has picked a British firm to design his proposed billion-dollar casino for Asian high-rollers in Sydney, saying Thursday it will be “instantly recognisable around the world”. The Australian mogul wants his 60-storey building to rival the Sydney Opera House in the iconic structure stakes and to […]
Sri Lanka sexes up image for tea
KANDANA, Sri Lanka,(AFP) – A hot cup of Ceylon tea is better known as being soothing and relaxing, but Sri Lanka is now marketing its most profitable export as a luxury boost for the libido.The tea industry is increasingly plugging Ceylon’s supposed aphrodisiac qualities in a bid to radically change perceptions of the brew, which […]
Tele Stability
May 16, 2013 (LBO) – Mobitel, a unit of Sri Lanka Telecom has made a profit of 640 million rupees in the March 2013 quarter, turning around from a loss of 950 million rupees, a year earlier, its parent said.Losses last year came from currency depreciation, the firm said. Revenues had grown 10 percent to […]
Sri Lanka exports to India surge after free trade agreement
May 16, 2013 (LBO) – Sri Lanka’s exports to India have surged under a free trade deal, growing six fold, with the number of items going up four fold to 2,100 but most of the imports to the island take place outside the agreement, economists said.“On average 70 percent of Sri Lanka’s exports to India […]
Indian cricketer Sreesanth held for spot-fixing
NEW DELHI, May 16, 2013 (AFP) – Indian cricket authorities on Thursday suspended three players, including Test paceman Shanthakumaran Sreesanth, after they were arrested for alleged spot-fixing during the Indian Premier League.Uncapped bowlers Ankeet Chavan and Ajit Chandila were the other hermes bags two players suspended from the ongoing domestic Twenty20 competition. “The three players… […]
‘s Treasuries yields plunge
May 15, 2013 (LBO) – Sri Lanka’s Treasuries yields plunged as much as 45 basis points at the first bill auction following a 50 basis point rate cut last week, data from the state debt office showed. The 3-month yield fell 43 basis points to 8.75 percent, the 6-month yield fell 29 basis points to […]
Sri Lanka stocks close up 0.2-pct
May 15, 2013 (LBO) – Sri Lanka’s stock closed up 0.23 percent on Wednesday, ending a two days of losses, with sentiment helped by falling Treasuries yields amid strong foreign buying into motor stocks, brokers said. The benchmark Colombo All Share Index closed 14.53 points higher at 6,221.12 up 0.23 percent and the S&P SL […]