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Thousands rally over blasphemy law in Pakistan: police
KARACHI, January 9, 2011 (AFP) – More than 20,000 people rallied in Pakistan’s southern city of Karachi on Sunday, police said, against proposed amendment to blasphemy laws that were recently used to sentence a Christian woman to death. The protest follows Tuesday’s assassination of the governor of Punjab province, Salman Taseer, by one of his […]
Sri Lanka goes for variety and experience for World Cup
January 8, 2011 (AFP) – Sri Lanka’s cricket selectors opted for a blend of variety and experience when naming the final 15-man squad for the 2011 World Cup that runs from February to April, officials said Saturday. “We looked at the opposition teams and the games we will be playing and we went for variety […]
Sri Lanka CB net forex buyer in December: data
Jan 08, 2010 (LBO) – Sri Lanka’s Central Bank has been a net buyer in foreign exchange in December following three months of net sales amid unprecedented excess reserves in the banking system. Sri Lanka’s reserve money (without excess reserves) has started rose to 355 billion rupees on January 06 2011 from 338. 5 billion […]
Transport Links
Jan 08, 2011 (LBO) – Sri Lanka and India have signed an agreement to start ferry services between the two neighbours with a meeting of officials to be held in Colombo next week, an Indian High Commission statement said. An Indian company, IRCON, has already commenced survey work for this purpose to restore the damaged […]
Sri Lanka shares end up 1.21-pct
Jan 07, 2011(LBO) – Sri Lankan stocks closed higher Friday with Panasian Power, a mini hydro firm, débuting on the market and active retail trading, brokers said. The All Share Price Index closed at 6,891.96, up 1.21 percent (82.23 points) while the Milanka Price Index of more liquid stocks closed at 7,286.88, up 1.28 percent […]
Sri Lanka shares end up 0.82-pct
Jan 04, 2011, (LBO) – Sri Lankan stocks closed higher Thursday with active trading seen in the poultry and index heavy stocks like JKH, brokers said. The All Share Price Index closed at 6,809.73, up 0.82 percent (55.42 points) while the more liquid Milanka index closed at 7,194.50, up 0.53 percent (38.15 points) according to […]
Port Prospects
Jan 07, 2011 (LBO) – The Sri Lanka Ports Authority (SLPA) plans to invite investors to make proposals for investments in the eastern port of Trincomalee where large tracts of land are available by March, its chairman Priyath Wickrama said. The port has a cement plant and flour mill. “In the future we will not […]
Close Eye
Jan 07, 2011 (LBO) – Sri Lanka’s central bank will keep a closer eye on conglomerates with interest in banks and finance companies, governor Nivard Cabraal said. Financial institutions connected to diversified conglomerates can have greater risks, requiring higher degree of supervision, he said in a speech on the central bank’s monetary policy for 2011. […]
Fresh Capital
Jan 07, 2011 (LBO) – The Colombo Stock Exchange has approved an application by The Finance Company, a troubled financed firm that is recovering after a run, for a public share issue to raise 1. 6 billion rupees for fresh capital, a statement said. The firm will issue 40 million ordinary voting shares at 40 […]
India stocks dive on interest rate concerns
MUMBAI, January 7, 2011 (AFP) – Indian stocks slumped for the fourth day running on Friday, shedding 2.44 percent on mounting fears that interest rates will be raised sooner than expected to curb the spiralling cost of food. The benchmark 30-share Sensex index ended 492.93 points lower at 19,691.81, a three-week low. Surging vegetable prices, […]
Sri Lanka expects renewal of lapsed US trade benefits
Jan 07, 2011 (LBO) – A United States trade facility allowing duty free Sri Lankan exports that lapsed is likely to be renewed with retroactive effect as has happened in the past, officials said. The US Congress has not renewed the Generalized System of Preferences (GSP) program before its conclusion of business and therefore GSP […]
Sri Lanka drops Jayasuriya, Vaas from WCup squad
January 7, 2011 (AFP) – Sri Lanka on Friday dropped veteran batsman Sanath Jayasuriya and bowler Chaminda Vaas from its 15-man squad for the World Cup that runs from February to April. Jayasuriya, a parliamentarian, and Vaas were part of the team that won the country’s sole World Cup in 1996, and had been included […]