Category:
Sri Lanka coconut prices hit new highs amid trade protection
Oct 23, 2010 (LBO) – Sri Lanka’s fresh coconut prices hit a new high at this week’s auction in Colombo, compounded by state interventions that restrict trade and keep prices of substitutes at higher than global levels. At Thursday’s auction of fresh coconuts in Colombo – which is a proxy for farm gate prices – […]
‘s one-day win
BRISBANE, October 22, 2010 (AFP) – Skipper Kumar Sangakkara hammered 110 off 95 balls as Sri Lanka blazed to a score of 301 on their way to a 112-run win over Queensland in their opening Australian tour match on Friday. The Sri Lankans, building up to their three-match one-day international series with Australia next month, […]
Port Prospects
Oct 22, 2010 (LBO) – A new port being built in Sri Lanka’s southern Hambantota has drawn investment proposals from local and foreign businesses including the local Senok Combine and Micro Car for vehicle assembly, officials said. The second phase will expand and deepen the harbour, adding more berths and cranes to handle containers. Madras […]
Paradise Isle
Oct 22, 2010 (LBO) – Sri Lanka has been awarded the record for the world’s “largest cup of tea,” but the stunt earlier this month may have also earned the island some gargantuan and enormously meaningless records. Had it coincided with the height of the monsoon, we could have also claimed the world’s largest cup […]
Canada unveils law to curb illegal immigration
OTTAWA, October 21, 2010 (AFP) – The Canadian government on Thursday unveiled legislation aimed at curbing illegal immigration and human smuggling by imposing stiff penalties and even detaining asylum seekers. The arrival of two ships carrying illegal migrants over the past year “clearly demonstrates that human smuggling networks are targeting Canada as a destination and […]
Sri Lanka stocks close up 0.33-pct
Oct 21, 2010 (LBO) – Sri Lanka stocks closed up 0.3 percent Thursday, with buying interest coming for banking sector stocks, brokers said. The benchmark Colombo All Share Index closed up 0.33 percent (21.77 points) at 6,685.99 points, while the Milanka Index of more liquid stocks rose 0. 59 percent (42.43 points) to 7,270.80 according […]
Gas Prospects
Oct 21, 2010 (LBO) – Sri Lankan liquid petroleum gas supplier Laugfs Gas is raising 2.5 billion rupees to settle debt, expand facilities and also enter property development as the country recovers from a war, its promoters said. Market Growth Laugfs has a 28 percent share of the total LPG market which it aims to […]
Sri Lanka reveals haul of civilian gold from war zone
October 21, 2010 (AFP) – The Sri Lankan government has said its troops collected more than four million dollars worth of gold jewellery during the defeat of the Tamil Tiger rebels. Chief government whip Dinesh Gunawardena told parliament on Wednesday that security forces picked up the precious items during the final months of the decades-long […]
” to fiscal prudence hailed
Oct 21, 2010 (LBO) – Sri Lanka has made a ‘re-commitment’ to fiscal prudence and a promotion of public private partnerships is a pragmatic recognition of private sector strengths that will help improve finances, a top economist and retired public servant had said. Former central bank governor A S Jayewardene said a recent speech by […]
US disruption of China currency will be disastrous: Steve Hanke
Oct 21, 2010 (LBO) – A sudden appreciation of the Chinese currency, which is sought by the US, could disrupt China’s economy and the world, rather than increasing the demand for American exports, a top monetary economist has warned. “Using the authority granted by the Thomas Amendment of 1933 and the Silver Purchase Act of […]
Sri Lanka halts overnight open market operations
Oct 20, 2010 (LBO) – Sri Lanka’s central bank has stopped overnight auctions to withdraw excess liquidity from money markets until further notice, but will continue term auctions of securities to sterilize excess liquidity, officials said. Last month Sri Lanka also raised a billion dollars in international markets of which only about half was used […]
Sri Lanka Treasuries yields up slightly
Oct 20, 2010 (LBO) – Sri Lanka’s Treasury bill yields edged up 05 basis points at Tuesday’s auction with the government also resuming the sale of 3-month bills at 7.02 percent, a statement from the debt office said. The government sold 6-month bills at 7.09 percent up 05 basis points, and 12-month bills at 7.22 […]