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Sri Lanka exporters demand streamlined customs
Apr 13, 2010 (LBO) – Sri Lankan exporters have called for more streamlined customs clearance to help reduce costs and be more competitive in overseas markets. Although clearing facilities are available for airfreight cargo round-the-clock, seven days of the week, “in regard to other cargo only perishable cargo is provided such a facility,” the NCE […]
Sri Lanka president calls for unity in New Year message
April 13, 2010 (AFP) – Sri Lanka’s President Mahinda Rajapakse Tuesday appealed for unity as the country prepared for its first traditional New Year after the end of a 37-year civil war. Rajapakse said he was seeking peace and reconciliation between his majority Sinhalese and the ethnic Tamil minority ahead of celebrations for Wednesday’s New […]
Sri Lanka Treasuries flat ahead of traditional New Year
Apr 12, 2010 (LBO) – Sri Lanka’s Treasury bills yields were flat at Monday’s auction, held early ahead of a two-day holiday for a traditional New Year, following a fully rejected auction a week earlier. The government’s debt office said 3-month bills were sold at 8. 52 percent, 6-month bills at 9.24 percent and 12-month […]
Sri Lanka shares end up 0.49-pct
Apr 12, 2010 (LBO) – Sri Lankan stocks closed firmer Monday with some large deals done while activity petered off towards the end of trading ahead of a long holiday this week although sentiment remained positive, brokers said. “Investors are placing buy orders but at lower levels compared to prevailing prices.” There were several large […]
Bunker Business
Apr 12, 2010 (LBO) – Indian Oil Corp’s Sri Lankan unit aims to expand bunker sales by selling fuel to ships passing the island, a much bigger market than the vessels which call at Colombo port, officials said. With bunker prices falling and the price difference between Colombo and Singapore narrowing, more ships have begun […]
‘s industrial output posts double-digit growth
NEW DELHI, April 12, 2010 (AFP) – India posted double-digit industrial growth for a sixth straight month in February, data showed Monday, adding to pressure on the central bank to further hike interest rates to tame inflation. Output by factories, mines and utilities grew 15.1 percent year-on-year in February, according to the government figures, lifted […]
‘s tennis star Mirza
HYDERABAD, April 12, 2010 (AFP) – Pakistani cricketer Shoaib Malik and Indian tennis star Sania Mirza married Monday after a troubled engagement in a union that bridges the two nations’ bitter sporting and political divide. The wedding was the final chapter in a complex and often contradictory saga during which Malik consistently denied claims by […]
Indonesia hails new Australian asylum-seeker policy
JAKARTA, April 12, 2010 (AFP) – Indonesia said Monday that Australia’s decision to stop processing asylum seekers from Afghanistan and Sri Lanka will be “positive” for the region’s fight against trafficking. Foreign ministry spokesman Teuku Faizasyah said the tough new policy, which has been condemned by rights watchdogs and refugee supporters, would have a direct […]
Sri Lanka poverty subsidy helping not only the poor: CBSL
Apr 12, 2010 (LBO) – A Sri Lankan poverty alleviation subsidy programme provides benefits to well over a quarter of the people, an unrealistically high number, and not only the poor, the Central Bank has said. “The potential for linking some of these food programmes with community-driven development programmes needs to be explored as malnutrition […]
Rajapakse wins again, but battle for unity remains
April 11, 2010 (AFP) – It seems Sri Lanka’s president, Mahinda Rajapakse, just can’t stop winning. His ruling party’s landslide triumph in parliamentary elections this week capped a trio of historic victories following the military defeat of Tamil Tiger rebels a year ago, and a thumping presidential re-election win in January. Now with his ruling […]
Re Poll
April 11, 2010 (AFP) – Sri Lanka will rerun voting at 18 polling booths where last week’s parliamentary election was affected by violence, officials said Sunday. The elections department cancelled voting at the booths in two electoral districts after allegations of intimidation and other violence. The final official results have yet to be declared because […]
IMF chief says no to higher inflation to reduce debt
Apr 11, 2010 (LBO) – The head of the International Monetary Fund played down suggestions that inflation should be raised to slash the real value of state debt, but said future growth should be used cut the burden. Strauss-Khan said public debt in advanced economies were forecast to rise about 35 percentage points to about […]