Category:
Sri Lanka stocks end down 0.5-pct
Sep 13, 2011 (LBO) – Sri Lankan stocks slumped again Tuesday continuing a slide that began towards the end of last week, with the highlight being trading in Lanka Milk Foods in which there were several deals, brokers said. The main All Share Price Index fell 0.54 percent (37.58 points) to 6,930.04, while the more […]
Australian cows to prop up Sri Lanka rupee, increase incomes
Sept 13, 2011 (LBO) – Sri Lanka’s state-run cattle farms are getting cows from Australia to become ‘self sufficient’ in milk and reduce “the drain on the country™s foreign exchange resources”, the finance ministry said. A 12.9 million US dollar project co-financed by Australia’s Export Finance Insurance Corporation (EFIC) Cooperative and Centrale Raiffeisen-Boerenleenbank (Rabobank) of […]
Animal Sacrifice
September 13, 2011 (AFP) – A Sri Lankan minister led a protest march on Tuesday that forced organisers to abandon an annual Hindu sacrifice ritual in which hundreds of goats were due to slaughtered. Public Relations Minister Mervyn Silva, a member of the Buddhist majority, arrived at the Munneswaram Hindu temple, 80 kilometres (50 miles) […]
UN Report
UNITED NATIONS, September 13, 2011 (AFP) – UN leader Ban Ki-moon on Monday sent a report accusing Sri Lankan troops of killing tens of thousands of civilians to the UN Human Rights Council, bringing a potential international inquiry one step closer. Ban has said that he alone cannot order an inquiry into the killings during […]
Foreign Relations
Sept 13, 2011 (LBO) – The Sri Lanka unit of UAE’s Etisalat said it is offering a discounted international call package to migrant workers in partnership with the island’s main foreign employment agency association. “As an international company operating in a country that has a significant segment of its labor force working overseas, we understand […]
Sri Lanka solid waste power plant by Malaysian firm
Sept 13, 2011 (LBO) – Malaysia’s Octagon Consolidated said it close to finalizing a 40MegaWatt municipal waste burning power plant in the Western Province Sri Lanka where the island’s capital is located. The westerna province waste management authority had earlier said in its website that it was negotiating a 40MW waste burning plant with a […]
‘s former war zone
September 13, 2011 (AFP) – US Assistant Secretary of State Robert Blake toured Sri Lanka’s former war zone on Tuesday to meet students, community leaders and government officials two years after the island’s civil war ended. Blake, the top US diplomat for South and Central Asia, was in the northern Jaffna region to see development […]
OECD points to general slowing of main economies
PARIS, September 12, 2011 (AFP) – The main economies in the world are set for a general slowdown, the OECD said on Monday on the basis of its leading index of underlying signals in its member countries. The Organisation for Economic Cooperation and Development, which already warned of potential pockets of recession last week, said […]
Sri Lanka stocks end down 0.3-pct
Sep 12, 2011 (LBO) – Sri Lankan stocks ended lower Monday continuing a slump that began towards the end of last week, with mostly speculative trading seen, brokers said. The main All Share Price Index fell 0. 32 percent (22.71 points) to 6,967.62, while the more liquid Milanka index fell 0. 25 percent (15.89 points) […]
State Support
Sept 12, 2011 (LBO) – Fitch Ratings Lanka has confirmed National Savings Bank’s (NSB) National Long-Term rating at ‘AAA(lka)’ with a stable outlook. “NSB’s rating reflects its full state ownership and importance to the government in terms of its stipulated policy role of mobilising retail savings and investing in government securities (GS),” a statement said. […]
Sri Lanka mulls listed state budget hotel firm
Sept 12, 2011 (LBO) – The Sri Lankan government plans to set up a listed company to manage ‘rest houses’, state-owned budget hotels often sited in scenic locations, according to its new tourism strategy. “Hence the government is currently looking at a few alternatives to facilitate domestic tourism.” It said it was considering “greater involvement” […]
Sri Lanka tourist arrivals up 29.6-pct in August
Sept 12, 2011 (LBO) – Tourist arrivals to Sri Lanka rose 29. 6 percent in August to 72,463 from a year earlier, with arrival in the first eight months up 35.2 percent to 537,787 data from the state tourism promotion agency showed. Visitors from Western Europe rose 17.8 percent to 30,053 with visitors growing 27. […]