Category:
Maldives forex shortages hit airlines: report
Apr 09, 2011 (LBO) – A dollar peg in the Maldives which is coming under pressure from excess domestic money has hit the airline business and also cut the real wages of expatriate workers, a media report said. Minivan News an online publication said Galaxy Enterprises which is the general sales agent for SriLankan Airlines […]
China speaks better English than India: study
NEW DELHI, April 8, 2011 (AFP) – Emerging market giant China has pipped neighbouring rival India in English language proficiency skills, despite the South Asian nation’s strong anglophone tradition, according to a new study. Both countries were given a “low-proficiency” score, with China standing 29th, one place ahead of India in a list of 44 […]
Sri Lanka officials learn WTO services rules from Singapore
Apr 09, 2010 (LBO) – Sri Lanka’s government officials are learning more about World Trade Organization rules on services from Singapore as the country pushes ahead with becoming a trade and services hub. Experts from Singapore’s Temasek Foundation Centre for Trade and Negotiations (TFCTN) as well as experts from other countries are training Sri Lanka’s […]
Sri Lanka shares end up 0.5-pct
Apr 08, 2011 (LBO) – Sri Lankan shares closed higher with interest in a new conglomerate and associatd firm and poultry companies although trading volmes were lower than usual in the run-up to a holiday break, brokers said. The stock market will be closed for the latter part of next week owing to the traditional […]
Support Vessel
Apr 08, 2011 (LBO) – Sri Lankan ship builder Colombo Dockyard has laid the keel for the first of a series three Multipurpose Platform Supply Vessels for Singapore’s Greatship Global Offshore Services. The vessel is designed to have an accommodation area for 50 persons. The vessel, scheduled for delivery in the first quarter of 2012, […]
Loan Forecast
Apr 08, 2011 (LBO) – Loans by Sri Lanka’s listed commercial banks will grow 25 percent in 2011, up from 22. 5 percent in the with bad loans and also interest rates remaining low despite rising inflation, an equities research report has said. The report said PABC Bank reported highest loan growth of 80 percent […]
Sri Lanka tea prices hit by Middle East turmoil
Apr 08, 2011 (LBO) – Sri Lankan tea prices fell at this week’s Colombo auction as turmoil in the Middle East, one of the main importing regions, affected shipments and payments, brokers said. All three elevations, high, medium and low have seen increases of 27.0, 20.45 and 7.28 rupees over last year. Prices of low […]
Sri Lanka lingerie brand sees strong sales in India
Apr 08, 2011 (LBO) – Sri Lankan apparel exporter MAS Holdings has said sales of its Amante lingerie brand are growing strongly in India and that it hopes to break even in the market this year. “We’re having phenomenal growth in India, averaging 40 percent,” said Ajay Amalean, director, MAS Holdings. “The category itself is […]
Oil Mercantilism
Apr, 08, 2011 (LBO) – A top US monetary economist has poured cold water on fears about the world running out of oil, an idea which gains special prominence when the US Fed loosens monetary policy, debases the dollar and sends commodities bubbling up. Nixon at the time even halted exports of food commodities, instead […]
Sri Lankan firms allowed to borrow abroad
Apr 07, 2011 (LBO) – Sri Lanka’s central bank has begun allowing companies to borrow abroad, calling for applications from firms for loans up to 20 million US dollars. Sole proprietorships include those in consultancy services, handicrafts, advertising, publishing, sports services, fashion and film, and entertainment industry. Companies can borrow for working capital, investment, restructuring […]
Sri Lanka shares closer higher
Apr 07, 2011 (LBO) – Sri Lankan shares closed higher Thursday with some interest in the banking and finance sector although total trading volumes were lower than uual, brokers said. The All Share Price Index closed at 7,378.73, up 0.26 percent (18.83 points) while the more liquid Milanka index rose 0. 18 percent (12.90 points) […]
Safe Land
Apr 07, 2011 (LBO) – Australia has given 480 million rupees to clear land mines from Sri Lanka’s war torn north and speed up the re-settlement of displaced people and farming, the Australian embassy in Colombo said. Though demining in progressing fast, about 506 square kilometres remain to be cleared. Australia had already given 1.4 […]