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Sri Lanka disclosure rules help propel rise in business ranking
Oct 21, 2011 (LBO) – Tighter corporate disclosure rules helped propel Sri Lanka up the ease of doing business rankings, moving it closer to the target ranking of 30, a regulator said. According to the ‘Doing Business Ranking’ computed by the World Bank Group, Sri Lanka was ranked 89 of 183 countries in 2012, a […]
Sri Lanka mulls wage limits, industry forum
Oct 21, 2011 (LBO) – Sri Lanka is considering setting a minimum domestic wage and maximum expatriate wage for industries and also creating a forum for industrialists to air their grievances. The proposals were revealed at a meeting with industrialists held organised by the ministry of industry & commerce as part of consultations in preparation […]
Pakistan continue to dominate Sri Lanka
ABU DHABI, October 20, 2011 (AFP) – Pakistan continued to bat Sri Lanka out of the first Test despite losing Azhar Ali in the morning session as they extended their first-innings score to 336-2 in the first Test here on Thursday. Pakistan, resuming their first innings at 259-1 in reply to Sri Lanka’s modest 197, […]
Rock solid Umar makes comeback against Sri Lanka
ABU DHABI, October 19, 2011 (AFP) – Pakistani opener Taufiq Umar on Wednesday notched up a brilliant hundred in the first Test against Sri Lanka, further cementing his place after being in the wilderness for four years. Regarded as Pakistan’s best opener when he hit a hundred in his first Test, against Bangladesh in 2001, […]
Sri Lanka to buy UK steel bridges with HSBC finance
Oct 20, 2011 (LBO) – Sri Lanka will buy 210 steel bridges from UK’s for 35 million sterling pounds with financing from HSBC and state-run People’s Bank, minister Keheliya Rambukwelle said. The cabinet of ministers had approved the financing of the deal with 28. 22 million Sterling pounds from HSBC and 6.779 million pounds from […]
Some economists push Fed to target nominal GDP
WASHINGTON, October 20, 2011 (AFP) – Frustrated by the moribund US recovery, a growing number of economists are pushing the Federal Reserve to adopt an explicit growth target, the most radical shift in central bank strategy in decades. In the world of economics an insurgency is raging amid worries that the Fed’s multi-trillion-dollar efforts to […]
Sri Lanka moves up in doing business ranking: World Bank, IFC
Oct 20, 2011 (LBO) – Sri Lanka has become an easier place to do business rising nine places to 89 over the past year in a global ‘doing business’ ranking published by the World Bank and International Finance Corporation. “…Sri Lanka implemented the most reforms of any of the eight economies in South Asia, helping […]
Sri Lanka Treasuries yields up
Oct 19, 2011 (LBO) – Sri Lanka’s Treasuries yields moved up across maturities at Wednesday’s auction with only 6. 8 billion rupees of bids being accepted from the market following an offer to sell 12. 0 billion rupees in bills. Sri Lanka’s interest rates have been moving up amid defence of a dollar peg and […]
Sri Lanka stock close 0.6-pct lower
Oct 19, 2011 (LBO) – Sri Lanka’s stocks closed 0. 6 percent lower Wednesday to a 13-month low while turnover fell to the lowest since July 2011, brokers said. Sampath Bank closed at 209.90 up 1.70 rupees, Commercial Bank fell 80 cents to close at 73. 20, Hatton National Bank fell 0.30 cents to 190.00. […]
Dossier Query
SYDNEY, October 19, 2011 (AFP) – Sri Lanka’s envoy to Australia Wednesday said a dossier alleging war crimes during the dying days of his country’s civil war only served to fuel the agenda of “vested interests”. Thisara Samarasinghe, who was a commander in the Sri Lankan navy during the conflict which ended in 2009, said […]
Phone Battle
HONG KONG, October 19, 2011 (AFP) – South Korea’s Samsung Electronics Wednesday unveiled its new smartphone that runs on Google’s latest Android operating system, the latest weapon in its battle to topple Apple’s iPhone. The launch of the “Galaxy Nexus”, which comes days a after the new iPhone 4S went on sale, was initially scheduled […]
Sri Lanka Qatar Airways Cargo agency with Aitken Spence
Oct 19, 2011 (LBO) – Aitken Spence said its freight forwarding unit had bagged the general sales agency for Qatar Airways Cargo in Sri Lanka. In addition to general cargo the airline also has expertise in carrying, livestock, dangerous cargo, vulnerable good and oversized cargo. Aitken Spence Cargo said Qatar Airways takes freight to over […]