Category:
Sri Lanka Insurance Corporation rating raised to AAA by RAM
May 11, 2010 (LBO) – RAM Ratings Lanka has upgraded Sri Lanka Insurance Corporation’s claims-paying ability rating, from AA- to AAA, with the outlook on the long-term rating revised from positive to stable, a statement said. Sri Lanka Insurance Corporation’s (SLIC’s) rating had been placed on a positive outlook in June 2009, after it came […]
‘s big spenders on the backfoot after trillion dollar rescue
BRUSSELS, May 10, 2010 (AFP) – Europe and the IMF gave a major boost to world markets Monday with a trillion-dollar war chest to ease fears of a new recession, but governments faced pressure to clean up their fiscal houses. Some 440 billion euros would come from eurozone nations and 60 billion euros from the […]
Sri Lanka forex reserves lower in February
May 10, 2010 (LBO) – Sri Lanka’s foreign reserves fell to 5,032 million US dollars in February 2010 from 5,135 million US dollars in January, which was equal to about 5. 5 months of past imports, the Central Bank said. Reserves with balances at the Asian Clearing Union (ACU), a regional arrangement of non-convertible currencies, […]
Sri Lanka stocks close flat, Dialog heavily traded
May 10, 2010 (LBO) – Sri Lankan shares closed flat Monday as gains on small and midcap shares were offset by price drops on selected high value stocks, while Dialog Telekom shares rose after it returned to profitability, brokers said. The All Share Price Index closed at 4,222.04, down 0.03 percent (1.09 points), while the […]
Sri Lanka tourist arrivals up 47-pct in April: data
May 10, 2010 (LBO) – Tourist arrivals to Sri Lanka rose 47.0 percent to 38,300 in April 2010 from a year earlier with strong growth in Western European and South Asian generating markets, data from the island’s tourism office showed. Visitors from South Asia were up 53 percent to 10,798. India generated 7,732 tourists, up […]
Sri Lankan Airlines to fly to Shanghai
May 10, 2010 (LBO) – Sri Lankan Airlines will launch a four-times a week service to Shanghai in July 2010, the third Chinese city in its global route network, the airline said in a statement. The new service will expand the airline’s cargo carrying capacity between China and Sri Lanka, with rapid connections in Colombo […]
Emirates to launch services to Iraq
May 10, 2010 (LBO) – Emirates will launch flights to the Iraqi capital Baghdad from July 1, 2010, the last remaining Middle Eastern destination to be frequented by the airline, a statement said. Baghdad will be Emirates’ 103rd international destination and one of six new destinations to be launched by the airline this year including, […]
White the hero as Australia crush Sri Lanka
BRIDGETOWN, May 9, 2010 (AFP) – Australia followed up a rescue act from Cameron White with a polished performance in the field during a thumping 81-run victory over Sri Lanka in the World Twenty20 on Sunday. Chasing 169 for victory, Sri Lanka were dismissed for 87 as Australia won with more than three overs to […]
Sri Lanka exports up on commodity boom; imports recover
May 10, 2010 (LBO) – Sri Lanka’s exports grew 20 percent 629 million US dollars in February 2010 on the back of booming agricultural commodities while apparel, the country’s main industrial export, contracted 9.7 percent to 248.6, official data showed. The Central Bank said apparel exports however had improved from January. Earnings from tea grew […]
Sri Lanka pension fund earns real returns
May 10, 2010 (LBO) – Sri Lanka’s main pension fund of private citizens earned a large real return as the Central Bank brought inflation down in 2009, though the national debt expanded as the state could not inflate away debt and impoverish pensioners. In the 2009 annual report the Central Bank said the government should […]
Sri Lanka Muralitharan out of World Twenty20
BRIDGETOWN, May 8, 2010 (AFP) – Muttiah Muralitharan’s participation at the World Twenty20 finally came to an end on Saturday when it was announced Sri Lanka would be summoning a replacement for their spin star. Thilan Thushara will replace Murali, who has been struggling with a groin problem, after the International Cricket Council (ICC) gave […]
Sri Lanka will use presidential powers to fix economy: minister
May 09, 2010 (LBO) – Sri Lanka’s president Mahinda Rajapaksa who crushed a 30-year separatist war in the island and won landslide election last month will use his extensive executive powers to fix the economy, a powerful minister said. “The president used his executive powers in the last three years to finish the war,” Basil […]