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Sri Lanka got N Korea arms despite US protests: leaked cables
WASHINGTON, December 6, 2010 (AFP) – US diplomats play a major role in trying to prevent arms from reaching world hotspots, but cables released to The New York Times show an uphill battle against the likes of Iran, Syria and North Korea. In one cable given to the paper by WikiLeaks, Syrian President Bashar al-Assad […]
Sri Lanka beaten by China in Asian outsourcing race: IBM report
Dec 07, 2010 (LBO) – Sri Lanka and China are emerging as key destinations for services investments, while Phillipines has overtaken India as the top ranked outsourcing centre, a report by IBM, a global information technology firm has said. In IBM’s Global Location Trends report for 2010 Philippines claimed top place displacing India for the […]
Sri Lanka central bank forex seller in Nov
Dec 06, 2010 (LBO) – Sri Lanka’s central bank sold 89. 05 million US dollars in November to maintain the country’s peg, with the US dollar as credit grew and economic activities picked up, official data show. Excess liquidity in the banking system is still high at 128 billion rupees. The bank is a net […]
Sri Lanka stocks close down 0.6-pct
Dec 06, 2010 (LBO) – Sri Lankan stocks ended down 0.63 percent Monday with some investors cashing out to re-align portfolios, brokers said. The All Share Price Index closed at 6,506.30, down 0.63 percent (41.38 points) while the Milanka index of liquid stocks dipped 1.12 percent (79.21 points) to close at 6,976.24, according to Colombo […]
Portable Cabin
Dec 06, 2010 (LBO) – Logiventures, a unit of Sri Lanka’s Hayleys group, expects an anticipated post-war construction boom to increase demand for its portable cabins made of converted cargo containers, a statement said. Since our Convertainers most often accommodate people in site offices, workshops, sanitary units and similar applications, quality management systems pertaining to […]
Phone Rivalry
Dec 06, 2010 (LBO) – Sri Lanka Telecom has reduced call charges and phone rentals and offered reductions for customers who chose packages with broadband and IPTV bundled together with voice services, a statement said. Those with broadband and IPTV services bundled into their packages are offered lower rates, the SLT statement said. SLT, the […]
Taking Action
Dec 06, 2010 (LBO) – Sri Lankan police found pirated software worth 7.5 million rupees in raids on an ‘international group of companies’ as part of a crackdown on software piracy, a statement said. Shalini Ratwatte, consultant, Business Software Alliance, said intellectual property protection “is vital for building investor confidence and supporting the growth of […]
Bangladesh says pirates steering ship towards Somalia
DHAKA, December 6, 2010 (AFP) – A Bangladeshi-flagged vessel hijacked by pirates in the Arabian Sea off the coast of India was heading towards the Somali coast on Monday, the head of Bangladesh’s shipping department said. Officials said Bangladesh’s shipping department had also contacted a British anti-piracy office in Dubai and a regional anti-piracy office […]
Sammy hails Bravo as Sri Lanka series drawn
PALLEKELE, December 5, 2010 (AFP) – West Indies captain Darren Sammy said Darren Bravo’s highly impressive performances were chief among a number of plus points his team could take from the drawn Test series against Sri Lanka. The three-match series ended 0-0 on Sunday following rain-hit Tests in Galle, Colombo and Pallekele and they now […]
Sri Lanka economic growth projected at 8.0-pct in 2010
Dec 06, 2010 (LBO) – Sri Lanka’s full-year economic growth for 2010 is estimated at 8. 0 percent is based on the latest data, Central Bank Governor Nivard Cabraal said, firming an earlier forecast of 7.5 to 8.0 percent. “It is estimated by our statistics team that Sri Lanka will record a growth of 8. […]
Sri Lanka targets low inflation, low poverty, high employment: CB Governor
Dec 06, 2010 (LBO) – Sri Lanka is hoping to bring down unemployment lower than the current 5. 2 percent and keep inflation and interest rates low to bring down poverty with higher growth, Central Bank Governor Nivard Cabraal said. “Poverty to has been brought down to 7.6 percent which would have taken many poeple […]
Asset Realization
Dec 05, 2010 (LBO) – Sri Lanka’s Supreme Court which is hearing a case on liquidating assets of a failed financial firm has approved the sale of hotel to repay depositors, a media report said. Ceysands and Golden Key are in Sri Lanka’s Ceylinco group. Golden Key depositors are said to be owed between 13 […]