Category:
” dismays diplomats
July 10, 2010 (LBO) – Diplomats in Colombo have called upon the government to ensure the security of United National staff and expressed dismay at a ‘blockade’ of its premises in Sri Lanka. Wimal Weerawansa, a government minister who called on protestors to surround the UN office is on fast in front of the UN […]
Sri Lankan stocks close down 0.35-pct
July 09, 2010 (LBO) – Sri Lankan stocks closed down Friday as investors took profits from Thursday’s gains, while low value shares continued to dominate market volumes, brokers said. The All Share Price Index closed at 4,505.69, down 15.71 points, while the Milanka index of more liquid shares dipped 0. 38 percent (19.22 points) to […]
Sri Lanka okays foreign investment for two resorts in Kalpitiya
July 09, 2010 (LBO) – Sri Lanka has approved two resorts by foreign investors in a new tourism development area in Kalpitiya on the north-west coast that opened up for investment with the end of a war, a tourism official said. Tourism is booming in the island after a 30-year ethnic war ended in May […]
Broad Speeds
July 09, 2010 (LBO) – Mobile broadband quality of the two largest players in Sri Lanka’s western province, where the capital Colombo is located, is satisfactory when compared to promised and international benchmarks, researchers have found. But Dialog, a unit of Axiata of Malaysia has wide mobile broadband coverage as well as Mobitel, a unit […]
Australia backs away from Timor refugee plan
SYDNEY, July 9, 2010 (AFP) – Australia’s new prime minister Julia Gillard appeared Friday to be backing away from a controversial proposal to process asylum seekers bound for its shores in impoverished East Timor. Gillard Tuesday launched her bid for a regional processing centre with assurances she had discussed the plan with East Timor’s President […]
”’
July 8, 2010 (AFP) – Sri Lanka’s world bowling record holder Muttiah Muralitharan on Thursday brushed aside criticism of his bowling action saying his unorthodox style was a gift from God. Muralitharan’s 18-year career was marred by controversy due to his bent-arm action — the result of an elbow deformity since birth — which helped […]
Protest
July 9, 2010 (AFP) – Sri Lanka said Friday that UN chief Ban Ki-moon had “acted in haste” by recalling his top envoy on the island in response to angry protests over a UN war crimes panel. Foreign Minister Gamini Lakshman Peiris said the government had told Ban’s chief representative Neil Buhne that the days […]
Sri Lanka relaxes monetary policy
July 09, 2010 (LBO) – Sri Lanka has relaxed monetary policy cutting rates by 25 basis points and raising its target from reserve money, the narrowest money supply through which final transaction in the economy are cleared. The central bank cut its reverse repo rate to 9.50 percent and the repo rate to 7. 25 […]
Sri Lanka T-bill yields steady
July 08, 2010 (LBO) – Sri Lanka’s Treasury bill yields were steady at this week’s auction with the 3-month yield flat at 8. 07 percent, the 06 month climbing 03 basis points to 8. 96 and the 12-month yield flat at 9.29 percent, the government’s debt office said. The debt office, which is a unit […]
Sri Lanka shares recover
July 08, 2010 (LBO) – Sri Lankan stocks closed higher Thursday, recovering after five consecutive trading days of losses with a private deal in shares of a commercial bank dominating the day’s turnover, brokers said. The All Share Price Index closed at 4,521.40, up 1.13 percent (50.62 points) while the more liquid Milanka index rose […]
Nearly Docked
July 8, 2010 (LBO) – A deal to build a container terminal in an expanded Colombo port will be awarded to a China – Sri Lanka consortium within ‘two to three weeks’ Treasury Secretary P B Jayasundera said. Sri Lanka’s listed Aitken Spence and China Merchant Holdings, a state-run port operator, were the only bidder […]
Capital Needs
July 8, 2010 (LBO) – Merchant Bank of Sri Lanka, a unit of state-run Bank of Ceylon, may need to inject new capital into a troubled savings bank and insurance firm it bought during an economic downturn, a rating agency said. RAM ratings confirmed Merchant Bank of Sri Lanka’s (MBSL) ‘AA-‘ domestic long term rating […]