Category:
Sri Lanka stocks stagnant
Sept 26, 2011 (LBO) – Sri Lankan stocks were barely changed Monday and turnover was also lower than usual with heavy trade in shares that had drawn the interest of speculators, brokers said. The main All Share Price Index rose 0.02 percent (1.42 points) to 6,736.02, while the more liquid Milanka index rose 0. 03 […]
Liquidity Path
Sept 26, 2011 (LBO) – Sri Lanka’s The Finance Company, which was put under new management by the financial regulator, is planning to sell commercial property as the firm recovers. “..[M]easures are being taken to convert non-yielding land stock to yielding stocks and certain pivotal steps are being ascertained to dispose commercial properties…” chairman Preethi […]
Outsource Reach
Sept 26, 2011 (LBO) – PC House, a Sri Lankan information technology company, has bought a 90 percent stake in Infoserve (Private) Limited for 45 million rupees. The company also has a firm revenue stream from computer hardware and software sales and setting up networks. Infoserve is a company based in Sri Lanka providing Internet […]
Sri Lanka war general ready to fight US court summons
September 26, 2011 (AFP) – A Sri Lankan general serving as a UN diplomat in New York is prepared to face a US court to deny charges his men committed war crimes during the island’s civil war, reports said Monday. A civil case has been filed in New York on behalf of two people whose […]
SriLankan Airlines starts flights to Moscow
Sept 26, 2011 (LBO) – SriLankan Airlines has begun flights to Moscow as it expands its network and increases the number of planes in the fleet. The first flight to the Russian capital was on September 17, a twice-weekly scheduled service between Colombo’s Bandaranaike International Airport and Moscow’s Domodedovo Airport, an airline statement said. The […]
Pressure needed to end child soldier use: France
UNITED NATIONS, September 26, 2011 (AFP) – States and armed groups that refuse to stop recruiting child soldiers must be subject to tougher pressure in the form of sanctions, France’s ambassador for human rights has said. Francois Zimeray will make that case on Monday at a meeting at the United Nations on the sidelines of […]
Sri Lanka export shift to Asia seen difficult
Sept 26, 2011 (LBO) – Sri Lankan exporters face difficulties in trying to shift from traditional markets in the West which are stagnant or growing only slowly to fast-growing emerging markets in Asia, an official said. “It’s not going to be easy,” said Anura Ekanayake, former chairman of the Ceylon Chamber of Commerce, the island’s […]
IMF to increase resources to more than $1 trillion: report
BERLIN, September 25, 2011 (AFP) – The International Monetary Fund may be hoping to increase its financial resources from $940 billion to at least $1.3 trillion, according to a newspaper report out Monday. German daily the Frankfurter Allgemeine Zeitung said two “models” were currently being examined to up the IMF’s resources, without stating its source. […]
IMF, World Bank eye new tax on air travel, shipping
WASHINGTON, September 24, 2011 (AFP) – The World Bank and IMF are proposing global carbon taxes on aviation and ship fuels in developed economies to help reduce carbon dioxide emissions, according to a draft proposal seen by AFP Friday. The same report also urged governments to remove subsidies for fossil fuels in the Annex II […]
Sri Lanka has cut deficit spending, lowered inflation: monetary minister
Sept 25, 2011 (LBO) – Sri Lanka has reigned in deficit spending, allowing inflation and interest rates to ease, giving space for people to engage in growth generating activities after the end of a long running war, a senior minister has said. “Relatively high fiscal deficits and double digit inflation were the main macro-economic issues […]
Sri Lanka IMF talks continuing on stalled review
Sept 25, 2011 (LBO) – Discussions are continuing with Sri Lanka on a periodic review under an International Monetary Fund bailout program which has supported the island’s policies aimed at restoring stability and growth, a top IMF official said. “We will continue these discussions for the coming review, while they (Sri Lanka’s delegation) are here […]
Finance Law
Sept 24, 2011 (LBO) – Sri Lanka’s central banks said it had tightened a law on finance businesses closing several loopholes and allowing authorities to probe unlicensed businesses more easily. A new bill on Finance Business passed by parliament on September 21, will replace an existing Finance Companies Act brought in 1998, the central bank […]