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” rating confirmed: RAM
Jan 05, 2012 (LBO) – Ram Ratings has confirmed an ‘A’ long term rating of Sri Lanka’s Tokyo Cement Plc, on its market share and healthy balance sheet but said the industry was cyclical and the firm was not able to immediately pass on costs. Tokyo Cement has grinding plants and shares half the market […]
Sri Lanka stock close 0.5-pct lower
Jan 05, 2012 (LBO) – Sri Lanka stocks closed 0. 5-pct lower Thursday in thin trade, with shares weakening for the third straight day, while bond rates held steady, brokers and dealers said. The benchmark Colombo All Share Index fell 33 points to 5,939. 75 points and the Milanka Index of liquid stocks fell 27.4 […]
Tourist Killing
Jan 05, 2012 (LBO) – The brother of a murdered British tourist, has called for justice and a speedy conclusion to an investigation in which a politician of a local council and several others are held by the police. Rustkacheva, a Russian national had been dragged to the beach and raped, media reports said. Sri […]
Maldives reverses ban on spas: report
Jan 05, 2012 (LBO) – Maldives has reversed a ban spas imposed by the tourism ministery after determining that they were not used for prostitution as alleged by Islamist protestors, a media report said. There have been anti-semitic protests recently about the transport ministry’s decision to allow direct flights from Israel, while a restaurant that […]
India urged to link oil prices to market
NEW DELHI, Jan 5 (AsiaPulse) – The Indian Prime Minister’s economic advisory panel on Monday suggested that the government take hard decisions like linking prices of petroleum products to global rates in 2012-13 as there will be no political compulsions after Assembly polls in five states are over on March 3. “I think during the […]
Japanese deputy premier tours Sri Lankan hydro power plant
May 5, 2012 (LBO) – Japan’s Deputy Prime Minister Katsuya Okada, began his second day in Sri Lanka on Saturday touring the island’s last hydro power plant that is being built with Japanese assistance. The underground Upper Kotmale tunnel, is also Sri Lanka’s longest tunnel, with a distance of 12.9 kilometers. The tunnel was finished […]
Sri Lanka village producers helped by Japanese volunteers
Jan 05, 2012 (LBO) – A team of Japanese volunteers had helped village level producers to develop new products and upgrade designs to get higher prices, the Japan International Co-operation agency said. Three volunteers had worked with the island’s Samurdhi Authority, a poverty alleviation agency, to help families in several areas. These volunteers had helped […]
Sri Lanka gold imports surge to U$600mn in 2011
Jan 05, 2012 (LBO) – Sri Lankans have spent a record 600 million dollars of gold in 2011 up more than seven times from the 82 million US dollars a year, the central bank said, as demand and prices for the precious metal rose. Before the creation of the Federal Reserve Bank gold was just […]
Sri Lanka to assess internet, IT use in post-war census
Jan 04, 2012 (LBO) – Sri Lanka will collect information about areas like internet access in the first nation-wide household and population census to be conducted in over 30 years, an official said. A 30-year war ended in 2009 allowing the statistics office to conduct a nation-wide census. The census which is to conducted from […]
Sri Lanka to target inflation explicitly in 2012: CB Governor
Jan 04, 2012 (LBO) – Sri Lanka is moving to a more explicit inflation targeting environment setting a level of 5 to 6 percent for 2012 and priority has been shifted to maintaining prices over growth, Central Bank Governor Nivard Cabraal said. “Over the last five years we actively worked on those measures,” Cabraal said. […]
‘s
Jan 04, 2012 (LBO) – Sri Lanka is still vulnerable to external shocks given, lower than expected year-end foreign exchange reserves and needs lasting reforms to better its credit rating, Moody’s, a rating agency has said. The island must further reduce government debt and budget deficits while a rapid and lasting improvement in credit strength […]
Sri Lanka Treasuries yields flat
Jan 04, 2011 (LBO) – Sri Lanka’s Treasuries yields were flat across maturities at Wednesday’s auction the state debt office said, while bond yields fell in the secondary market, dealers said. On Tuesday, Sri Lanka’s central bank unveiled an annual monetary policy roadmap promising to keep inflation at between 5 and 6 percent in 2012. […]