Category:
Bank Link
Sept 21, 2011 (LBO) – Sri Lanka’s National Development Bank said it was in talks with DBS of Singapore to strengthen its investment banking operations. NDB said a memorandum of understanding with DBS will e signed today. DBS started in 1968 as the Development Bank of Singapore but is now a financial services group with […]
Sri Lanka lures youth for skills gap in booming tourist trade
Sept 21, 2011 (LBO) – Sri Lanka is to launch a campaign to educate youth of opportunities in the booming tourist industry where a skilled labour shortage looms with an influx of visitors after the end of a war. Last year 950 million people visited globally countries that were not native to them, he said, […]
NASA bus-sized satellite to crash-land this week
WASHINGTON, September 21, 2011 (AFP) – What goes up must come down. But where? That’s the big question when it comes to a 20-year-old NASA satellite the size of a tour bus which is careening toward Earth and set to crash-land later this week. The US Department of Defense and NASA are tracking the six-ton […]
India says poverty begins below 50 cents a day
NEW DELHI, September 21, 2011 (AFP) – India’s economic planning body has said any villager earning more than 50 cents a day is not poor and should not qualify for government welfare — a figure condemned by experts. Those with a daily income of 25 rupees (50 cents) in villages and 32 rupees (65 cents) […]
IMF warns global economy in danger zone
WASHINGTON, September 20, 2011 (AFP) – The global economy has entered “a dangerous new phase,” with a recovery that is much weaker than was predicted just months ago, the International Monetary Fund warned Tuesday. Emerging market economies that have been the recovery’s driving force, such as China and India, will not escape unscathed from the […]
Sri Lanka accepts more cash through auction
Sept 20, 2011 (LBO) – Sri Lanka’s central bank accepted 20 billion rupees at 7. 08 percent from banks at an open market auction Tuesday as excess reserve in the island’s banks continued to decline amid forex sales to defend a dollar peg. Sri Lanka has a policy corridor of 7. 0 to drain excess […]
Sri Lanka stocks end down 0.7-pct
Sept 20, 2011 (LBO) – Sri Lankan stocks closed down Tuesday with a sharp increase in the price of an insurer control of which changed hands recently and continued trading in shares that had drawn speculators, brokers said. The main All Share Price Index fell 0.72 percent (49.23 points) to 6,821.69, while the more liquid […]
Sri Lanka tea plantations seen making losses
Sept 20, 2011 (LBO) – Sri Lankan tea crops and prices have fallen below those of last year imposing losses on plantations whose costs also went up with a recent wage hike, a broker has said. The ‘Uva’ quality season when teas grown on the eastern slopes of the island’s central hills yield their best […]
Tele Trend
Sept 20, 2011 (LBO) – Sri Lanka’s mobile users grew 14. 5 percent to 18.1 million in the second quarter of 2011 from a year earlier down from an 18. 5 percent expansion seen in the first quarter, official data showed. Wireless fixed usage contracted 2. 5 percent to 2.68 million in the second quarter […]
Sri Lanka Tamil protesters ask for probe into war crimes allegations
GENEVA, September 19, 2011 (AFP) – Tamils from across Europe demonstrated at the UN’s European headquarters on Monday, calling for a probe into alleged war crimes committed by Sri Lanka at the end of the country’s 2009 civil war. According to local police, around 1,000 protesters gathered in Geneva’s iconic Place des Nations, to urge […]
Sri Lanka starts active open market operations – Update
Sept 19, 2011 (LBO) – Sri Lanka’s central bank resumed active open market operations Monday absorbing a small amount of excess liquidity eight basis points above it 7.0 percent policy rate, rejecting most of the bids that came at higher rates, dealers said. Market participants offered to sell 36.15 billion in excess rupees through the […]
‘s credit expansion slower in July
Sept 19, 2011 (LBO) – Sri Lanka’s commercial banks loaned 26.9 billion rupees to private business in July 2011, down from 39 billion rupees a month earlier and credit to the state fell, following the sale of a soveriegn bond, official data showed. Central Bank credit to government – usually a red flag of impending […]