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Sri Lanka central bank holds policy rates steady
Sept 21, 2010 (LBO) – Sri Lanka’s central bank said it has decided to hold policy interest rates steady at a meeting Tuesday given falling market rates and increased credit flows to the private sector. The central bank said it expects market interest rates to fall further. “Market interest rates continued to adjust downwards in […]
Sri Lanka stocks close up 2.8-pct
Sept 21, 2010 (LBO) – Sri Lankan shares closed higher Tuesday in trading marked by a change in control of an asset-rich pharamaceutical firm and the first imposiotn of a price band under new rules, brokers said. The All Share Price Index closed at 6,702.99, up 2.8 percent (181.56 points) while the more liquid Milanka […]
Container Cash
Sept 21, 2010 (LBO) – Sri Lanka’s Aitken Spence has to raise 4. 5 billion rupees for its stake in a new port terminal, which if funded by debt might invite a downgrade of its ‘AA(lka)’ rating, Fitch Ratings said. Fitch Ratings Lanka is reviewing Aitken Spence’s (ASP) senior unsecured notes’ ‘AA(lka)’ National Long-term rating […]
Remittance Deal
Sep 21, 2010 (LBO) – Sri Lanka’s state-run National Savings Bank (NSB) has inked inked a deal with a financial partner in Jordan as part of a bid to expand its remittance business tenfold over two years, officials said. NSB announced a deal with JRM Alami and Partners Exchange Company in Jordan Monday to help […]
Lesson
September 20, 2010 (AFP) – The Sri Lankan government’s war probe Monday visited the final battleground where Tamil Tiger rebels were annihilated last year, but the international media was barred from reporting proceedings. However, the United Nations has estimated at least 7,000 civilians were also killed in the first four months of fighting while international […]
‘s dismal Wayamba
CENTURION, September 20, 2010 (AFP) – The Victoria Bushrangers outclassed a dismal Wayamba Elevens team at SuperSport Park on Monday night to keep alive their hopes of reaching the semi-finals of the Champions League Twenty20 tournament. But Mubarak fell to a superb catch at cover by Hussey and the Sri Lankan side collapsed ignominiously against […]
“Restart” Sri Lanka university faculty
Sept 21, 2010 (LBO) – When all else fails in a modern computer, we hit “restart.” The machine powers down, clears all kinds of dysfunctions from the system and starts fresh. Not a panacea, but works most of the time. This is what we need to do with our universities. All else has failed. In […]
Sri Lankans among Sydney rooftop protesters: refugee activist
SYDNEY, September 21, 2010 (AFP) – A group of protesting asylum-seekers Tuesday threatened to leap from the roof of a Sydney detention centre where a Fijian man plunged to his death a day earlier, an activist told AFP. Bala Vigneswaran of the Australian Tamil Congress said nine Sri Lankan Tamils, who are among 11 protesters […]
Sri Lanka B+ sovereign rating outlook lifted to positive: Fitch
Sept 21, 2010 (LBO) – The outlook on Sri Lanka’s ‘B+’ sovereign rating has been lifted to ‘positive’ from ‘stable’ on the end of a 30-year war and an agreement with the International Monetary Fund. The full statement issued by Fitch is reproduced below: Fitch Ratings has today affirmed Sri Lanka’s Long-term foreign and local […]
Sri Lankan stocks close up 0.99-pct
Sep 20, 2010 (LBO) – Sri Lankan stocks closed at another record high Monday, after a 10 percent upward and downward price band was lifted, while heavy buying of property development and finance firms boosted turnover, brokers said. The All Share Price Index shot up in early trade, with the previously announced expiry of the […]
Sri Lanka airport transit facilities boosted: state airline
Sept 20, 2010 (LBO) – Facilities for transit passengers in Sri Lanka’s international airport at Katunayake has been boosted with a 24-room hotel, which is under the management of state-run SriLankan airlines, the national carrier said. The airport has eight rooms with double beds, and eight rooms with a single deb and an attached bathroom. […]
‘s end
Sept 20, 2010 (LBO) – Sri Lanka is to impose a new levy on tea exports to raise funds for marketing and advertising to increase its market share in the highly competitive beverage market, officials said. Upali Dissanayake, additional secretary of the Ministry of Plantation Industries, said the law to enable the collection of the […]