Category:
Indian PM commits to reforms
NEW DELHI, March 26, 2011 (AFP) – India’s prime minister has reaffirmed his Congress-led government’s commitment to economic reforms as the administration battles a host of corruption scandals. Economic liberalisation had “ended old opportunities for corruption and favouritism… but human ingenuity and the desire to make a quick buck are such that the greedy are […]
Post war Sri Lanka tackling challenges in education, ageing population: World Bank MD
Mar 26, 2011 (LBO) – Sri Lanka is dealing with fresh challenges as a middle income country in education, the health sector while coping with a rapidly ageing population, after the end of a war, the World Bank has said. World Bank said it was ready to help the country with knowledge resources. Sri Lanka […]
Sri Lanka shares close up 0.33-pct
Mar 25, 2011 (LBO) – Sri Lankan shares closed higher Friday, extending the previous day’s gains with interest seen in a cable firm and several off-the-floor deals, brokers said. The All Share Price Index closed at 7,240.27, up 0.33 percent (23.52 points) while the more liquid Milanka index rose 0.65 percent (44.43 points) to close […]
Recovery Road
Mar 25, 2011 (LBO) – Fresh capital will soon be given to the remaining Sri Lankan finance companies that got into trouble two years ago, prompting intervention by the banking regulator, senior central bank officials said. “It has taken over two years but was much quicker than the liquidation process.” Strategic investors have been found […]
Credit Access
Mar 25, 2011 (LBO) – Sri Lanka’s NDB Bank has joined a World Bank credit scheme to channel low cost loans to small and medium enterprises (SMEs) through eight lending institutions. SMEs with an annual turnover of less than 300 million rupees operating in a large number of sectors are eligible to apply under concessionary […]
Exposure Limits
Mar 25, 2011 (LBO) – Sri Lanka’s banking regulator plans to limit exposure of banks to the stock market to prevent the risk of a downturn in equities affecting the financial sector, a senior central bank official said. Samarasiri, who spoke at a public forum on how the central bank revived finance companies that collapsed […]
Sri Lanka rubber prices rebound
Mar 25, 2011 (LBO) – Sri Lankan rubber prices have recovered after a temporary fall triggered by overseas demand and supply factors, and look set to stay strong on rising global tire demand, trade officials said. Natural rubber prices at the Colombo auctions hit record highs in February and then slumped sharply after increased supply […]
Emissions Testing
Mar 25, 2011 (LBO) – Laugfs Eco Sri, a unit of Sri Lanka’s listed Laugfs gas which tests vehicle emissions for the government, says it is expanding in to the north and the east of the country and is also mulling an initial public offer. Laugfs group chief W K H Wegapitiya said the firm […]
Sri Lankan exporters rewarded
Mar 25, 2011 (LBO) – Sri Lanka’s commerce ministry has paid almost 500 million rupees to 76 exporters in the final payment under a scheme to reward them for maintaining exports during the 2008 recession. Despite numerous challenges faced by the government, the government tried its best to fulfil its commitments to the export community,” […]
” arrested
ISLAMABAD, March 25, 2011 (AFP) – A “terrorist” suspected of planning to attack the cricket World Cup has been arrested after help from authorities across South Asia including in Pakistan, Interpol chief Ronald Noble said. Pakistan was initially meant to be one of the World Cup co-hosts. But the country lost that right when gunmen […]
India end Australia reign, set up Pakistan showdown
NEW DELHI, March 24, 2011 (AFP) – India swept three-time defending champions Australia out of the World Cup on Thursday to set up a semi-final showdown against bitter rivals Pakistan and heap more pressure on Ricky Ponting. India’s five-wicket triumph in Ahmedabad means they will tackle Pakistan, who reached the last four with a crushing […]
Sri Lanka shares close up 0.13-pct
Mar 24, 2011 (LBO) – Sri Lankan shares closed higher Thursday with the sale of a controlling stake in a sugar plantations firm boosting turnover and dominating the day’s trade, brokers said. The All Share Price Index closed at 7,216. 75, up 0.13 percent (9.65 points) while the more liquid Milanka index rose 0. 26 […]