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Sri Lanka to collaborate with Japan, China for oceanography
Dec 22, 2011 (LBO) – Sri Lanka is collaborating with Japan and China to study oceanographic conditions and weather in the Indian Ocean, the head of the island’s aquatic resources agency said. Jayewardene said the Chinese were interested in the origination of monsoon off the shores of Sri Lanka which will help the country understand […]
Sri Lanka overnight rates spike to new high
Dec 21, 2011 (LBO) – Sri Lanka’s overnight money rates spiked over 9. 75 percent and gilt backed repurchase deals touched 8.45 percent Wednesday amid defence of a dollar peg and festival demand for cash, dealers said. But in December there is also a seasonal demand of cash during the Christmas and New Year holiday […]
Sri Lanka Treasuries yields head higher
Dec 21, 2011 (LBO) – Sri Lanka’s Treasuries yields edged higher amid rejections of market bids at Wednesday’s auction, data from the state debt office showed, as the Central Bank’s own portfolio of bills continued to go up. The 3-month Treasury bill yield increased 15 basis points to 8.58 percent and the 12-month yield increased […]
Sri Lanka stocks close down 0.16-pct
Dec 21, 2011 (LBO) – Sri Lankan stocks slipped further Wednesday in a continuing slide in thin turnover with the regulator postponing an anticipated decision to allow brokers to give more credit for trading, brokers said. The main All Share Price Index fell 0.16 percent (9.11 points) to 5,842.83, while the more liquid Milanka index […]
Mega Ship
Dec 21, 2011 (LBO) – Colombo port has handled its first ship capable of carrying 10,000 containers and will soon be the only port in south Asia to handle even bigger cargo vessels given new deep-water terminals under construction. APL Chongqing docked at the state-run Jaya Container Terminal, the main transhipment facility in Colombo, Monday, […]
Station Teller
Dec 21, 2011 (LBO) – Sri Lanka’s Commercial Bank has begun opening automated teller machines at railway stations to give commuters access to its electronic cash dispensing facility, a statement said. The bank’s first ATM machine under the programme was commissioned at the Fort Railway Station, the biggest terminal, in the heart of the capital […]
Sri Lanka asks Russia for phased import duty reduction
Dec 21, 2011 (LBO) – Sri Lanka has asked Russia to cut import duty on tea in a phased manner following its admission to the World Trade Organisation (WTO) after 18 years of negotiations, officials said. Sri Lanka’s tea industry has been lobbying Russia to reduce import duty to enable exporters better access for value-added […]
Kerala to tender deepwater port project in March
MUMBAI, Dec 21 (AsiaPulse) – The Indian state of Kerala plans to invite global engineering, procurement and construction bids for the Rs 7,800 crore Vizhinjam Port by March and expects the results of an environment impact assessment (EIA) study on the project to be out by June, a top state government official has said. “We […]
Sri Lanka economy grows 8.4-pct in 3Q: statistics office
Dec 21, 2011 (LBO) – Sri Lanka’s economy grew 8. 4 percent in the third quarter of 2011 from a year earlier, slightly higher than the 8.2 percent reported in the second quarter, the state statistics office said. The economy grew 8.0 percent in the third quarter of last year. Sri Lanka’s Central Bank Governor […]
” rating confirmed: Fitch
Dec 20, 2011 (LBO) – Fitch Ratings has confirmed an ‘A(lka)’ rating of Singer (Sri Lanka) Plc, with a stable outlook based on it being one of the largest consumer durable retailers and a pickup in business. Fitch said a cut in taxes had reduced grey-market activities in consumer durables and lower inflation and interest […]
Sri Lanka stocks close down 0.2-pct
Dec 20, 2011 (LBO) – Sri Lankan ended weaker Tuesday, unable to sustain an opening rally in thin turnover, with sharp losses in illiquid shares, brokers said. The main All Share Price Index fell 0.15 percent (9.02 points) to 5,851.94, while the more liquid Milanka index fell 0.34 percent (17.16 points) to close at 5,088.25. […]
Transport Training
Dec 20, 2011 (LBO) – A Sri Lankan training academy has tied up with an American logistics organisation to certify its courses to build a body of transport professionals amid a post-war port and airport building boom. Sri Lanka’s Shippers’ Academy Colombo (SAC) said it has struck a deal with the American Society of Transportation […]