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Sri Lanka IMF targets waived due to lack of data: official
Apr 05, 2011 (LBO) – Sri Lanka’s requirement for targets under an International Monetary Fund was “waived” because data was not available in time and not because they were missed, an official said. IMF’s Colombo representative Koshy Mathai said the lender gave the latest tranche despite the data not being available all the indications pointed […]
Sri Lanka gets more IMF cash; warned on excess liquidity
Apr 05, 2011 (LBO) – The International Monetary Fund has given Sri Lanka 218. 3 million dollars under its 2.5 billion US dollar program but called on the Central Bank to tighten liquidity management to prevent further inflation. Authorities expect Sri Lanka to generate less inflation after April. Sri Lanka is also expected to change […]
Sri Lanka foreign reserves steady
Apr 04, 2011 (LBO) – Sri Lanka’s foreign reserves were flat at 6. 7 billion US dollars in February 2011, helped by a 200 million dollar injection form the International Monetary Fund, though reserves measured in months of imports have fallen slightly. By February reserves measured in terms of imports had come down to 5.8 […]
Sri Lanka shares becalmed
Apr 04, 2011 (LBO) – Sri Lankan shares closed barely changed Monday with an information technology company heavily traded although turnover was comparatively lower than usual, brokers said. The All Share Price Index closed at 7,373.14, down 0.06 percent (4.08 points) while the more liquid Milanka index rose 0. 12 percent (8.09 points) to close […]
Logistics Leader
Apr 04, 2011 (LBO) – Sri Lanka’s Hayleys group has appointed Ruwan Waidyaratne as managing director of Hayleys Advantis, a subsidiary encompassing group companies in transportation and cargo logistics. The transportation division of Hayleys consists of more than 22 specialist companies. Waidyaratne succeeded M O Raban, who retired from the position on April 01 and […]
SLIM Chief
Apr 04, 2011 (LBO) – Sri Lanka Institute of Marketing said Thushara Perera, head of marketing at TV Derana, a television channel, had become the president of the body. He was vice president of SLIM last year. Perera began his career in the advertising industry at Thompson Associates Pvt Ltd, an agency and joined Swarnawahini, […]
Sri Lanka domestic airline operators to get own terminal
Apr 04, 2011 (LBO) – Sri Lanka plans to have a separate terminal for domestic airline operators at its international airport in Katunayake, north of Colombo, an airports official said. Johanne Jayaratne, executive director of Airports and Aviation Services (Sri Lanka), a state agency which operates airports, said a building previously used for catering services […]
Sri Lanka spin beats Murali
Apr 04, 2011 (LBO) – Ace spinner Muttiah Muralitharan may have retired with Sri Lanka’s latest World Cup defeat, but a local television star showed much promise as an even better “spinner” when the dejected national team returned Sunday. In high-flown Sinhala, the young television presenter anchoring the coverage of the team’s return, said Sri […]
Sri Lanka university incentives not limited for foreign parties: official
Apr 04, 2011 (LBO) – Incentives given for new private universities will be open to all qualified parties and is not limited to foreign universities, Sri Lanka’s higher education ministry secretary Sunil Nawaratne said. “If you are not in the government you are eligible,” Nawaratne told a forum of state and private educators called together […]
Euro up amid eurozone rate hike expectations
SINGAPORE, April 4, 2011 (AFP) – The euro strengthened against the dollar in Asia on Monday as investors moved into the single currency before an expected interest rate hike by the region’s central bank, analysts said. The euro bought $1.4227 in afternoon Asian trade, up from . 4225 late Friday in New York. It changed […]
Sri Lanka dam safety confab gets Dutch expertise
Apr 04, 2011 (LBO) – A Dutch expert will lead an annual forum on disaster risk organized by LirneAsia, a regional policy research body that has been active on improving dam safety policies in Sri Lanka which is an island dotted with thousands of reservoirs. LirneAsia says Sri Lanka has 12,000 small dams and 350 […]
Sangakkara says toss row just a mix-up
MUMBAI, April 3, 2011 (AFP) – Sri Lanka captain Kumar Sangakkara insisted the toss mix-up that briefly threatened to engulf the World Cup final in a bizarre controversy was all a matter of a simple misunderstanding. The usually straightforward procedure had to be performed twice at the Wankhede Stadium on Saturday before the final got […]