Category:
Trade Finance
Oct 06, 2011 (LBO) – Sri Lanka’s Commercial Bank has enabled customers to transact in Chinese Yuan for import and export dealings with counterparts in the People’s Republic of China. “The move, which recognises the growing importance of China as a trade partner for Sri Lanka, will reduce conversion losses and time lapses involved in […]
Sri Lanka value added tea exports cleared by Syria
Oct 06, 2011 (LBO) – Syria has lifted an import ban on value-added tea exports from Sri Lanka which had raised fears it could sharply reduce earnings from the island’s main export product. “There’s now no ban by Syria,” said Hasitha De Alwis, director promotions of the Sri Lanka Tea Board. “The ban on smaller […]
Sri Lanka tea estate gets govt nod for tie up
Oct 06, 2011 (LBO) – Sri Lanka’s Bogawantalawa Tea Estate, a listed firm said it has received approval from the state to transfer management of three factories and land to the domestic arm of a US based tea marketing firm. Bogawantalawa Plantations said in a stock filing that it had received the nod from the […]
Salute
SAN FRANCISCO, October 6, 2011 (AFP) – Steve Jobs was once known as the man who saved Apple computers. He will be remembered as one of the rare few who changed the world. Jobs guided Apple from the brink of financial ruin to a lofty place among the world’s most valuable companies before his death […]
Indian Ocean tsunami alert system to be tested on Oct 12
PARIS, October 6, 2011 (AFP) – Nearly two dozen countries next Wednesday will take part in a full-scale test of the Indian Ocean’s tsunami alert system, using the 2004 Sumatra quake as the basis for the exercise, UNESCO said on Thursday. Exercise IOWAVE 11 will re-enact the seismic events of December 26, 2004, simulating a […]
” to improve rights
October 6, 2011 (AFP) – Sri Lanka Thursday announced a new move to address human rights issues in the face of international pressure over war crimes allegations arising from the end of the island’s civil war. The government said it hoped to strengthen civil liberties and ensure better human rights compliance through the implementation of […]
‘s biggest fund increases equity investments
Oct 06, 2011 (LBO) – The Employees’ Provident Fund (EPF), Sri Lanka’s biggest fund with 976 billion rupees in assets and managed by the central bank, has increased investments in the stock market. A central bank statement said the EPF’s total assets, which had grown an annual 14.6 percent, are expected to reach a value […]
Sri Lanka facilitating imports with forex reserves for growth
Oct 06, 2011 (LBO) – Sri Lanka’s central bank is facilitating imports to maintain growth by selling reserves and not trying to defend a particular exchange rate, Deputy Governor Dharma Dheerasinghe said. Equity markets inflows which were about 150 million dollars negative will turn positive towards the end of the year with investments from the […]
Sri Lankan investments sought by Maldives
Oct 06, 2011 (LBO) – The Maldives is seeking more investments from Sri Lanka, especially in construction, transport and energy, and a credit line offered to Sri Lankan exporters is to be broadened beyond fruits and vegetables. The Maldivian administration’s key economic strategy is to engage the private sector and enable the diversification of the […]
Sri Lanka economy has to keep moving for stable society: CB Governor
Oct 06, 2011 (LBO) – Sri Lanka’s economy has to move forward without interruption to avoid unrest and instability amid turmoil around the world, Central Bank Governor Nivard Cabraal said. “The world is going through tremendous turmoil if you look at the way the economic scenario is unfolding. Cabraal told members of the Institution of […]
Sri Lanka Treasuries yields up
Oct 05, 2011 (LBO) – Sri Lanka’s Treasuries yields rose across maturities with the 3-month yield moving 06 basis points to 7.21 percent with the state debt office only accepting bid for 76 percent of the offered volume. The 6-month yield rose 04 basis points to 7.27 percent and the 12-month yield rose 03 basis […]
Sri Lanka Capital Alliance group rebranded
Oct 05, 2011 (LBO) – Capital Alliance, an investment house active in equities and fixed income markets has been re-branded as CAL from October 2011 after 11 years of operations is looking to expand further into asset management and retail financing, the company said. Capital Alliance said it has become a key player in the […]