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‘s war- torn north records highest economic growth: CB
Aug 10, 2012 (LBO) – Sri Lanka’s northern province which had been badly hit by three decades of war had the highest rate of economic growth in 2011 as a post-war revival continued, the central bank said. The North Western and Southern provinces benefiting from construction, trade, manufacturing, transport, and financial services recorded the next […]
Sri Lanka allows transfers from NRFC accounts
Aug 09, 2012 (LBO) – Sri Lanka’s Central bank has relaxed exchange control regulations to allow the free transfer of funds from non-resident foreign currency (NRFC) accounts, the bank releasing a statement said. The bank said funds can be freely transferred between and among NRFC accounts including foreign currency investments abroad. “Necessary direction to authorized […]
Sri Lanka stocks down 0.78 pct
Aug 09, 2012 (LBO) – Market continued its negative trend with the All Share Price Index losing 37.99 points to close at 4,851.00 down 0.78 percent. The Milanka index of more liquid stocks closed flat at 4,354.45. The S&P index of large cap stocks lost 14.16 points to close at 2,739.29 down 0.51 percent. The […]
Offshore Support
Aug 09, 2012 (LBO) – Increasing demand for ship supply services off Sri Lanka has prompted GAC Sri Lanka, the local unit of the international shipping logistics group, to move into bigger offices in the ports of Trincomalee and Galle, a statement said. The new office in Galle is located near a new expressway connecting […]
Money Transfer
Aug 09, 2012 (LBO) – Sri Lanka’s Central bank has relaxed exchange control regulations to allow the free transfer of funds from non-resident foreign currency (NRFC) accounts, the bank releasing a statement said. The bank said funds can be freely transferred between and among NRFC accounts including foreign currency investments abroad. “Necessary direction to authorized […]
Sri Lanka unearths over 800,000 explosive devices
Aug 09, 2012 (LBO) – Sri Lanka has unearthed over eight hundred thousand mines and improvised explosive devices from the island’s former war zone since the thirty year conflict ended in 2009, a top government official said. Secretary to the ministry of Defence and urban development Gotabaya Rajapaksa told an international defence conference in Colombo […]
Sri Lanka stocks down 0.17 pct
Aug 08, 2012 (LBO) – Sri Lanka stocks closed down Wednesday with less interest in large Blue-chips, brokers said. The All Share Price Index slipped 8.35 points to close at 4,889.87 down 0.71 percent. The Milanka index of more liquid stocks dipped 0.25 percent to close at 4,354.02 and the S&P index of large cap […]
Slow Gear
Aug 08, 2012 (LBO) – A slowdown in Sri Lanka’s vehicle ownership continued with registrations for July 2012 dropping 55 percent to 26,799 from 41,481 a year earlier, JB Securities said. In the first seven months of 2012 registration of brand new and reconditioned cars slipped to 18,376 units from 31,462 compared to the same […]
Sri Lanka to ration power in key towns and villages
Aug 08, 2012 (LBO) –Sri Lanka will cut power for two hours and fifteen minutes during the daytime Thursday (August 09) owing to a breakdown in a Chinese build coal plant in the north western region in the Island, the power ministry releasing a statement said. Some areas in northern and southern zones in the […]
‘s Lakvijaya power plant down
Aug 08, 2012 (LBO) – Power generation in Sri Lanka’s newly built Lakvijaya coal power plant in north-western Puttalam district has been temporarily suspended due to a problem in a transmission line,the ministry of power and energy releasing a statement said. The ministry said a sudden breakdown in the transmission line which takes power from […]
Sri Lanka’s central bank leaves policy rates unchanged
August 07, 2012 (LBO) – Sri Lanka’s Central Bank Tuesday left its trend setting short-term rates unchanged for the fourth straight month as monetary authorities move to cool inflation. The bank said its benchmark reverse repurchase rate, used to manage liquidity and contain inflation, stays at 9. 75 percent. The short-term repurchase rate, at which […]
Sri Lanka stocks down 0.61 pct
Aug 07, 2012 (LBO) – Sri Lanka stocks closed down Tuesday amid increased interest in Ceylon Tobacco Company at 700 rupees, brokers said. Aviva NDB Insurance PLC gained 15.70 to close at 279.70 up 5.93 percent. Colombo Dockyard closed flat at 190.00 rupees. DFCC rose 0.60 cents to close at 110.00 up 0.55 percent. Dialog […]