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Sri Lanka October exports up 28-pct
Dec 22, 2010 (LBO) – Sri Lanka’s export earnings in October 2010 shot up 27. 6 percent to 802 million US dollars from a year ago, the third highest monthly value, spurred by higher apparel and commodity exports, the central bank said. Imports grew at a slower 8.4 percent to 1,131 million dollars during the […]
Sri Lanka to get cheaper World Bank credit for several years
Dec 22, 2010 (LBO) – Sri Lanka would get cheap World Bank credit for at least three years, while the country re-builds infrastructure after a 30-year war and moves toward becoming a borrower at near-commercial rates, managing director Ngozi Okonjo-Iweala said. “You have the peace dividend. You have ended the conflict. With inclusive growth, where […]
Sri Lanka shares end up 0.28-pct
Dec 21, 2010 (LBO) – Sri Lankan stocks ended slightly higher Tuesday with heavy trading and gains in poultry firms amid rising demand and prices for chicken following an influx of tourists, brokers said. Brokers said non-voting shares of liquid petroleum distributor Laugfs Gas were the most actively traded for the day, closing at 17 […]
Sri Lanka stocks end up 0.28-pct
Dec 21, 2010 (LBO) – Sri Lankan stocks ended slightly higher Tuesday with heavy trading and gains in poultry firms amind rising demand and prices for chicken following an influx of tourists, brokers said. The All Share Price Index closed at 6,378.91, up 0.28 percent (18.07 points) while the more liquid Milanka index fell 0. […]
Cargo Trends
Dec 21, 2010 (LBO) – Colombo port volumes hit a new record of four million containers Tuesday supported by strong growth in both transshipment and import-export cargo, the Sri Lanka Ports Authority (SLPA) said in a statement. The number of twenty-foot equivalent units (TEUs) of containers handled by the port is up 20 percent so […]
Loan Growth
Dec 21, 2010 (LBO) – Sri Lanka’s credit to business from commercial banks surged 20. 3 percent in October 2010 from a year earlier, as 50 billion rupees in new loans were made in the month, the highest since a balance of payments crisis two years ago, official data show. Loans to private business rose […]
Sri Lanka tea output crosses 300mn kilo mark
Dec 21, 2010 (LBO) – Sri Lanka’s tea production fell in November 2010 from a year ago but crossed 300 million kilos for the year as it appeared headed for a new record annual crop, Tea Board data showed. Tea out put in November fell almost nine percent to 26. 7 million kilos from a […]
India suspends exports of onions as prices surge
NEW DELHI, December 20, 2010 (AFP) – India suspended exports of onions, a key food staple, on Monday after prices of the vegetable soared, adding to the government’s inflation woes. Prices of onions — commonly used to add flavour to Indian food — have surged in the past few days to up to 80 rupees […]
Sri Lanka air force gets into model aircraft business
Dec 21, 2010 (LBO) – Warrant Officer N P S Pathirana carefully fixes the rotors of a model MI24 helicopter gunship. Once we go online next year everybody will have access to these models, Nanayakkara said. During the height of the war with the now defeated separatist Tamil Tigers, the Sri Lanka Air Force extensively […]
Sri Lanka onion prices to rise after Indian export ban
Dec 21, 2010 (LBO) – Prices of onions and leeks in Sri Lanka could rise after India’s decision to suspend exports of onions, a trade official said. Sri Lanka imports 4,000-5,000 tonnes of onions a week from India which supplies about 60 percent of the world requirements of onions. Pettah Wholesale Traders’ Association vice chairman […]
Sri Lanka warns US over allegations in WikiLeaks cables
December 21, 2010 (AFP) – Sri Lanka on Tuesday warned the United States to exercise “circumspection” in diplomatic cables after a message released by WikilLeaks suggested Colombo had colluded with murderous paramilitary groups. External Affairs Minister G.L. Peiris told US Ambassador Patricia Butenis that leaked US cables contained “glaring instances of allegations totally unwarranted by […]
Credit Plans
Dec 20, 2010 (LBO) – Sri Lanka’s Sampath Bank is expecting loans to grow 30 percent in 2011 helped by a new push into leisure, renewable power and credit cards as the country recovers from a three-decade war, officials said. Director Ranjith Samaranayake said the award was in part given due to its 3.0 percent […]