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Sri Lanka to get funding from higher cost window: World Bank
Dec 18, 2010 (LBO) – Sri Lanka has qualified to get loans from a higher cost window of the World Bank amid rising incomes, which will double access to annual funds, managing director Ngozi Okonjo-Iweala said. Sri Lanka also now has access to capital markets. Countries with access to capital markets and which are deemed […]
Sri Lanka stocks close flat
Dec 17, 2010 (LBO) – Sri Lanka stocks closed flat Friday, with trading seen in the farming sector stocks, brokers said. The All Share Price Index closed flat at 6,360. 84 while the Milanka index of liquid stocks rose 0.18 percent (12.30 points) to close at 6,834.07, according to Colombo Stock Exchange (CSE) provisional figures. […]
Sea Travel
Dec 17, 2010 (LBO) – Sri Lanka’s cabinet of ministers had given the nod for two ferry services to be set up with India between Colombo and Turicorin and Thalaimannar and Rameswaram, the government said. A large number of Sri Lankans also travel to India on business and pilgrimages. The government’s information office said a […]
Share Demand
Dec 17, 2010 (LBO) – An initial public offer by Singer Finance (Lanka) to raise 400 million rupees was oversubscribed 120 times, drawing applications worth 48 billion rupees, a statement said. The IPO is mainly to fund Singer Finance’s hire purchase business growth which is reawakening after the 2008-09 business downturn. Updated The firm had […]
Finance Upgrade
Dec 17, 2010 (LBO) – Fitch Ratings Lanka has upgraded Singer Finance (Lanka) Limited’s (SFL) national long-term rating to ‘BBB+(lka)’ from ‘BBB(lka)’ with a stable outlook, a statement said. SFL is a registered finance company and a fully-owned subsidiary of SSP. It has a network of six branches and six service centres in Sri Lanka. […]
Sri Lanka turns to heritage homes
Dec 17, 2010 (LBO) – The Sri Lankan government is encouraging owners of heritage homes to convert them into tourist accommodation as it gets ready to meet an influx of visitors after the end of a war, officials said. Sri Lanka received its 600,000th tourist this month and plans to attract at least 700,000 visitors […]
Sri Lanka battles coconut price spike
December 17, 2010 (AFP) – Sri Lanka’s authorities have imposed price control coconuts — a dietary staple — by setting a ceiling price and arranging imports to bring down prices. So important is the coconut to the national cuisine that shortages in the past have had serious political implications and even been held responsible for […]
Sri Lanka tea prices seen firm in 2011 first quarter
Dec 17, 2010 (LBO) – Sri Lanka’s tea could see strong demand in the first quarter of 2011 as it is a low cropping period and supply and demand are finely balanced at the end of this year, brokers said. There was good demand at the penultimate auction this week and prices were mostly firm. […]
US cable points to Sri Lankan links with paramilitaries
NEW DELHI, December 17, 2010 (AFP) – Sri Lanka’s government was complicit in the activities of paramilitary groups engaged in political killings, kidnappings, extortion and prostitution, a leaked US diplomatic cable suggested Friday. The 2007 cable, written by the then US ambassador to Sri Lanka, Robert Blake, cited evidence provided by “trusted embassy contacts” that […]
SriLankan Airlines gets another Airbus A320
Dec 17, 2010 (LBO) – SriLankan Airlines has taken delivery of another Airbus A320 aircraft as it continues to expand its global route network, a statement said. The newest arrival swells SriLankan’s fleet to 15 aircraft four A320s, five A330s, five A340s, and a De Havilland Twin Otter. The A320 will join the narrow-body fleet […]
Sri Lanka to issue Rs5,000 note
Dec 16, 2010 (LBO) – Sri Lanka’s central bank plans to print and issue a 5,000-rupee note from next February, deputy governor K G G D Dheerasinghe said. The bank will stop printing a 2,000-rupee note when the new 5,000-rupee note enters money circulation to coincide with its 60th anniversary. The 2,000-rupee note was considered […]
Sri Lanka stocks close down 0.2-pct
Dec 15, 2010 (LBO) – Sri Lankan stocks closed down 0. 21 percent Thursday, with a dull day of trading in the market, brokers said. The All Share Price Index closed at 6,360. 34, down 0.21 percent (13.42 points) while the Milanka index of liquid stocks dipped 0. 17 percent (11.58 points) to close at […]