Category:
Gas Wrap
Oct 12, 2010 (LBO) – Sri Lanka’s government is expecting to wrap up the purchase of Shell’s gas unit in the island within a month, Sirisena Amarasekera, who heads the state committee in charge of the deal said. Sri Lanka’s information minister Keheliya Rambukwella has said the government was planning to sell down a 49 […]
Trio of labour market specialists wins 2010 Economics prize
STOCKHOLM, October 12, 2010 (AFP) – Three labour market experts, including one blocked for a top post at the US Federal Reserve, won the 2010 Nobel Economics Prize Monday for research that has had an impact on employment reforms worldwide. The Nobel jury said the work of Peter Diamond and Dale Mortensen of the United […]
Sri Lankan stocks close flat
Oct 11, 2010 (LBO) – Sri Lankan stocks closed flat after early morning gains were lost brokers said, while a large deal on Aitken Spence pushed turnover to almost seven billion rupees. The All Share Price Index closed at 6,834.61, up 0.01 percent (1.00 points), while the more liquid Milanka index fell 0. 11 percent […]
Transport Options
Oct 11, 2010 (LBO) – Sri Lanka’s logistics and transport bottlenecks will come under scrutiny at an international conference this week where partnerships between the public and private sectors will also be considered, officials said. The island now has an opportunity to rebuild its transport infrastructure which was neglected or destroyed during the 30-year ethnic […]
Better Outlook
Oct 11, 2010 (LBO) – The outlook on Sri Lanka’s stat-run Bank of Ceylon, the island’s largest commercial bank by assets, has been lifted to ‘positive’ from ‘stable’ after a lifting of the sovereign rating increased the capacity of the state to support it, Fitch Ratings said. But Fitch said it considered the absolute capitalisation […]
Default Warning
Oct 11, 2010 (LBO) – Sri Lanka’s Credit Information Bureau (CRIB) is to launch an ‘e-alert’ service using mobile phones and email to warn banks of defaulters who have borrowed from more than one bank, an official said. Furthermore, there are also no detailed reports being exchanged now on monthly loan installment payments by borrowers. […]
Sri Lanka Jetwing plans hotel in former Jaffna war zone
Oct 11, 2010 (LBO) – Sri Lanka’s Jetwing group plans to build a hotel in the northern Jaffna peninsula, part of the former war zone which is recovering after the end of the island’s ethnic war, an official said. Hiran Cooray, chairman of Jetwing, said the hotel was part of the group’s expansion plan to […]
Tertiary Plans
Oct 11, 2010 (LBO) – Sri Lanka is offering free land and tax breaks for top ranked foreign universities to start branches in the island with the end of a state monopoly in awarding degrees, the island’s higher education minister said. “We are planning to bring higher education institutions ranked among the top 1,000 in […]
‘s IPL
BANGALORE, October 10, 2010 (AFP) – Rajasthan Royals and Kings XI Punjab have been thrown out of the Indian Premier League over ownership issues, tournament organisers said on Sunday. The governing council of the cash-rich Twenty20 event, owned by the Board of Control for Cricket in India (BCCI), also issued notices to the new Kochi […]
Sri Lanka to shift away from quantity targets: CB Governor
Oct 11, 2010 (LBO) – Sri Lanka is “unlikely” to announce direct targeting of reserve money next year and will rely more on “traditional instruments” as the country moves gradually to target inflation directly with rates, central bank Governor Nivard Cabraal said. But under such a framework interest rates can be volatile, because the quantity […]
‘s largest cuppa
Oct 09, 2010 (LBO) – Sri Lanka, a top exporter of tea, has made the world’s largest cup of the brew in a ten foot high thousand gallon cup breaking a Guinness record previously held by the United States. An official from Guinness in London was in Colombo to monitor the event, the organizers said. […]
Over 60 percent of Afghans suffer mental health problems
KABUL, October 10, 2010 (AFP) – Scarred by decades of war, social problems and poverty, more than 60 percent of Afghans suffer from stress disorders and mental health problems, officials warned Sunday. The population of Afghanistan is estimated at roughly 28 million. “This is a major problem,” Suraya Dalil, Afghanistan’s acting public health minister, told […]