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December 30, 2010 (AFP) – Sri Lanka is to drop all remaining references to its British colonial name “Ceylon” from state institutions, a government spokesman said Thursday. The cabinet considered a proposal to rename the Ceylon Electricity Board and decided it should be extend to other official organisations, an information ministry official told AFP. “The […]
Sri Lanka says met IMF December targets for loan disbursement
Dec 30, 2010 (LBO) – Sri Lanka has met key targets in December under a deal with the International Monetary Fund to qualify for further loan disbursements, central bank deputy governor Dharma Dheerasinghe said. “Sri Lanka has met the IMF targets for December after meeting the September targets,” Dheerasinghe told Vimasuma.com, our sister news website. […]
Sri Lanka Treasuries yields ease
Dec 29, 2010 (LBO) – Sri Lanka’s short-term Treasury bill yields eased at Wednesday’s auction with the government rolling five billion rupees worth of maturing bonds, the debt office said. The yield on three-months bills fell to 7.24 percent from 7.25 percent, that on six-month bills also fell to 7.35 percent from 7.38 percent while […]
Sri Lanka shares end up 0.09-pct
Dec 29, 2010 (LBO) – Sri Lankan stocks closed higher Wednesday with institutions showing a high level of activity in trading, brokers said. The All Share Price Index closed at 6,646.92, up 0.09 percent (5.84 points) while the more liquid Milanka index rose 0.16 percent (37.09 points) to close at 7,074.83, according to stock exchange […]
Sri Lanka shares end up 0.3-pct
Dec 28, 2010 (LBO) – Sri Lankan stocks closed higher Tuesday with investors focusing on the banking sector, brokers said. The All Share Price Index closed at 6,641. 08, up 0.30 percent (19.57 points) while the more liquid Milanka index rose 0. 53 percent (37.09 points) to close at 7,063.65, according to stock exchange provisional […]
Heavy Lift
Dec 29, 2010 (LBO) – Sri Lankan logistics firm FPS Lanka is considering setting up offices in the new southern port of Hambantota and in eastern Trincomalee harbour to handle an anticipated influx of cargo flows for post-war reconstruction. It expects new logistics contracts to be awarded in the first quarter of 2011 as projects […]
Trade Links
Dec 29, 2010 (LBO) – India is helping Sri Lanka to revive commercial operations at a port and airport in the island’s north to re-establish regional trade and communications links, a statement said. The High Commission of India said Defence Secretary of India, Pradeep Kumar, had discussed the projects during a three-day visit to Sri […]
Wider Margins
Dec 29, 2010 (LBO) – Fitch Ratings has confirmed the National Long-term rating of Sri Lanka’s Housing Development Finance Corporation Bank (HDFC) at ‘BBB+(lka)’ with a stable outlook, a statement said. The rating agency has also confirmed the ‘BBB+(lka)’ rating on the bank’s outstanding 195 million rupee senior unsecured redeemable debentures. “HDFC’s ratings reflect its […]
Mobile Identity
Dec 29, 2010 (LBO) – Sri Lanka is to delay a move to restrict the number of mobile phone SIM cards individuals can own after requests for more time from mobile phone companies, a senior Telecommunications Regulatory Commission official said. TRC director-general Anusha Pelpita said that under the new rule the number of registered SIM […]
‘s poorest
KAVRE, December 29, 2010 (AFP) – Seven years ago, Nepalese farmer Madhab Parajuli faced an agonising choice: lose his small plot of farmland to mounting debts, or sell one of his kidneys to an organ trafficker. “Local people see that you can give up a kidney and still try to live a healthy life. So, […]
Bangladesh to explore gas in restive hill region
DHAKA, December 28, 2010 (AFP) – Bangladesh has invited some of the world’s leading state-owned gas giants to help explore its insurgency-hit southeastern hill tracts region, an official said Tuesday. The Chittagong Hill Tracts (CHT) region makes up one-tenth of the South Asian country’s landmass but has been largely left unexplored due to a decades-long […]
SriLankan Airlines wins award for campaign that improved sales
Dec 29, 2010 (LBO) – SriLankan Airlines won the ‘Travel & Tourism’ category at the island’s recent Effie Awards for its ˜Hotseats’ marketing campaign that led to better sales, a statement said. SriLankan received a Bronze for the campaign, which was produced by the ad agency Grant McCann Erickson. It was the highest award presented […]