Category:
Sri Lanka central bank buys dollars in June
July 15, 2011 (LBO) – Sri Lanka’s central bank has bought 92.5 million US dollars from interbank forex markets in June, ending two months of net selling, official data shows, though newer data points to fresh selling. By June 12, excess liquidity had fallen to 36 billion rupees. Day to day excess liquidity is also […]
Sri Lanka stocks up 0.9-pct
July 15, 2011 (LBO) – Sri Lanka stocks continued the upward momentum for the second straight day with gains by index heavy John Keels Holdings and speculative buying pushing up recently listed financial stocks, brokers said. The main All Share Price Index closed at 6,777. 03, up 0.91 percent (61.36 points) while the more liquid […]
Marine Risk
July 15, 2011 (LBO) – With pirate attacks on the increase, Sri Lankan shippers have been advised to insure cargo against the risk of piracy off Somalia to minimize losses and delays if a vessel with their shipments is hijacked. Ships hijacked by Somali pirates take a long time to get released, said P Mukundan, […]
Indian Track
July 15, 2011 (LBO) – India’s state-run Indian Railway Construction International Ltd (lRCON) has been given a 149. 3 million US dollar contract to build a remaining part of a railway track to Sri Lanka’s north, the government’s information office said. The entire track from Vavuniya to Jaffna was destroyed during a civil war which […]
Strength Test
July 15, 2011 (LBO) – Colombo Dockyard has commissioned a ‘bollard pull’ test facility in Sri Lanka’s eastern port of Trincomalee for use by its own vessels and others such as in planned oil exploration work. “The test facility is built mainly to check and confirm the pulling capacity of ships including tugs and Anchor […]
Sri Lanka, Vietnam to boost agricultural co-operation
HANOI, July 15, 2011 (AsiaPulse) – Vietnam and Sri Lanka have agreed on a number of measures to strengthen bilateral cooperation, especially in agricultural development. During talks between Vietnamese Minister of Agricultural and Rural Development Cao Duc Phat and Sri Lankan Minister of Agriculture Mahianda Yapa Abeywardana in Hanoi on July 13, the two sides […]
Research Chief
July 15, 2011 (LBO) – Lanka Market Research Bureau (Pvt) Ltd (LMRB) said it has appointed Himalee Madurasinghe, former second-in-command and a 14-year veteran at the firm as its chief executive. LMRB started 1981 as the first independent market research consultancy in Sri Lanka. It is affiliated to market research firms, IMRB International and Kantar […]
Sri Lanka to get Bajaj four-wheeler
NEW DELHI, July 15, 2011 (AFP) – Indian motorbike maker Bajaj has abandoned plans to develop an ultra-low-cost car with France’s Renault and its Japanese partner Nissan, according to a senior executive. The companies announced in 2009 that they hoped to bring a ,500 minicar to market in 2012, but there have been suggestions for […]
Chinese become biggest holidaymakers in Maldives
July 13, 2011 (AFP) – Visit the Maldives and there’s a high chance the fellow holidaymakers at your island retreat will be from China, according to new figures that show the Asian giant as the biggest source of visitors. “The Chinese don’t want the beach like the Europeans. They want activities, like visiting other islands, […]
Sri Lanka expects exports to grow 25-pct in 2011
July 15, 2011 (LBO) – Sri Lanka exports grew by a better-than-expected 42 percent in the five months to May and full-year revenues are projected to grow 25 percent to 10 billion US dollars, the state export promotion agency chief said. “Now, our strategy is developing our exports portfolio beyond those markets while protecting the […]
Sri Lanka cricket team attack accused on bail
LAHORE, July 14, 2011 (AFP) – Pakistan on Thursday released on bail the leader of one of its leading extremist organisations who is accused of sectarian murders and masterminding an attack on the Sri Lankan cricket team. Malik Ishaq, head of Lashkar-e-Jhangvi (LJ) and held for nearly 14 years, was cheered by more than 100 […]
Sri Lanka to decide road toll next week
July 14, 2011 (LBO) – Fees for Sri Lanka’s first toll expressway to the south of the island will be decided next week ahead of its opening scheduled for later this month, head of Sri Lanka’s road development authority R W Pemasiri said. Manual collected can result in revenue leakages through various means. According to […]