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Sri Lanka inflation eases to 6.4-pct in September
Sept 30, 2011 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo slowed to 6. 4 percent in September from 7.0 percent in August, though the index itself gained 0.3 percent during the month, the state statistics office said. International commodity prices have eased in recent weeks. Food and non-alcoholic beverages rose 0. 1 percent […]
Sri Lanka gets flood rebuilding aid from Japan
Sept 30, 2011 (LBO) – Japan is helping Sri Lanka rebuild flood damaged roads and irrigation networks and strengthen capacity to cope with future disasters through a seven billion yen (9. 0 billion rupee) project the country’s aid agency said. Japan International Co-operation Agency (JICA) which administers Japanese aid said a concessionary loan was agreement […]
Sri Lanka stocks end up 0.5-pct
Sept 29, 2011 (LBO) – Sri Lankan stocks closed firmer Thursday and turnover also rose with an insurer whose ownership changed hands recently being brought under a price band after a sharp rise in its price, brokers said. The main All Share Price Index rose 0. 55 percent (37.24 points) to 6,747.91, while the more […]
Domestic Credit
Sept 29, 2011 (LBO) – Sri Lanka will borrow around 500 million US dollars from local banks to pay domestic contractors who will pave national highways and provincial roads with concrete. The Cabinet of ministers has approved a proposal by the Ministry of Highways for the project to repair part of the road network, a […]
Look Out
Sept 29, 2011 (LBO) – Sri Lanka’s navy is monitoring merchant shipping movements to guard against the threat of attacks by Somali pirates who have been extending their raids further east into the Indian Ocean. The International Maritime Bureau has warned that pirate attacks might extended even further east towards Sri Lanka. Sri Lanka Ports […]
Capital Base
Sept 29, 2011 (LBO) – Fitch Ratings Lanka has confirmed DFCC Bank’s (DFCC) National Long-Term Rating at ‘AA(lka)’ with a stable outlook. The rating agency has also confirmed DFCC’s senior debentures at ‘AA(lka)’ and subordinated debentures at ‘AA-(lka)’, a statement said. “The ratings are driven by DFCC’s strong capitalisation, supported by its sustained solid profitability […]
Parental Support
Sept 29, 2011 (LBO) – Fitch Ratings Lanka has confirmed DFCC Vardhana Bank Limited’s (DVB) National Long-Term Rating at ‘AA-(lka)’ with a stable outlook. The rating agency has also confirmed the bank’s subordinated debentures at ‘A+(lka)’. “The ratings reflect Fitch’s expectation that support would be forthcoming from its parent, DFCC Bank, should it be required,” […]
Sri Lanka waters among most dangerous for sea turtles: study
MANILA, September 29, 2011 (AFP) – The waters around India, Bangladesh and Sri Lanka are home to the world’s most endangered sea turtles, according to a study released Thursday aimed at setting a blueprint for global conservation. While it was well known that almost all sea turtle species face extinction, the study by 30 scientists […]
Japan tsunami was wake-up call for S. Asia: expert
SEOUL, September 29, 2011 (AFP) – Japan’s March tsunami was a wake-up call for Indian Ocean nations still restoring their coastlines after a massive wave struck in December 2004, an expert said Thursday. “This year’s tsunami heightened awareness among all MFF countries that they are still vulnerable,” said Donald Macintosh, senior adviser to a group […]
SriLankan Airlines plane detained in Paris
Sept 29, 2011 (LBO) – A SriLankan Airlines aircraft was detained at Charles De Gaulle Airport in Paris last Friday after it failed to meet European safety standards, an airline statement said. “Arrangements were also made to assist all passengers to continue their onward journeys on other airlines without much delay,” the airline said. Passengers […]
Sri Lanka detains asylum seekers expelled by Britain
September 29, 2011 (AFP) – Sri Lanka’s police detained 50 failed asylum seekers flown back to the country Thursday after being expelled from Britain, police said. Eight women and 42 men — mostly ethnic minority Tamils– were deported by Britain’s Border Agency, which chartered an aircraft to return them home after they failed in a […]
Sri Lanka had BOP surplus by end July: Central Bank
Sept 29, 2011 (LBO) – Sri Lanka had recorded a balance of payments surplus of 1,006 million US dollars by July 2011, with official foreign reserves climbing to 8,099 million US dollars, the Central Bank said. Foreign inflows to the state, including a billion dollar sovereign bond was 2,754 million US dollars and foreign direct […]