Category:
Bank Changes
Sept 30, 2011 (LBO) – Sri Lanka’s Sampath Bank said deputy managing director M Y A Perera will take-over as managing director from January 01, 2012, as current managing director Harris Premaratne is leaving. Sri Lanka’s Daily FT newspaper said Premaratne will take over as the head of a new bank started by Sri Lanka’s […]
Sri Lanka launches web portal for tourist travel approvals
Sept 30, 2011 (LBO) – Sri Lanka’s electronic tourist travel approval system will be effective from January 01, 2012 with a trial run starting from Saturday, October 01, officials said. An online portal – www.eta.gov.lk – from which to apply for entry permits from Sri Lanka’s department of immigration and emigration was officially launched Friday. […]
Sri Lanka tea estates still making heavy losses
Sept 30, 2011 (LBO) – Tea estates in Sri Lanka’s central hills have had no respite from a market downturn and continue to incur losses of 150 rupees a kilo owing to lower prices and crops, a broker said. However, despite lower crops in recent months, an anticipated recovery in production in the last quarter […]
Celluloid Shoot
September 30, 2011 (AFP) – Once a location of choice for directors shooting World War II classics and big 1980s adventure films, Sri Lanka is hoping to make a comeback on the movie trail as it emerges from civil war. Since the island’s bloody conflict ended in May 2009, the government has been trying to […]
Zany scientists honored in alternative Nobels
NEW YORK, September 29, 2011 (AFP) – In the ultimate accolade for the world’s mad scientists, spoof Nobel prizes were awarded Thursday for studies into beetle sex, yawning, the desperation of people dying to urinate, and other daffy investigations. The annual Ig Nobel prizes, now in their 21st year, were given out at Harvard University […]
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NEW DELHI, September 30, 2011 (AFP) – India’s workaholic Prime Minister Manmohan Singh has not taken a holiday since he took the top job in 2004, according to a new in-depth profile published this week. The 12,000-word study in current affairs journal The Caravan of 79-year-old Singh, under fire for a series of debilitating scandals […]
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 […]