Category:
Sri Lanka December tourist arrivals up 16-pct, annual up 2-pct
Jan 07, 2010 (LBO) – Sri Lanka’s December tourist arrivals rose 16.2 percent to 56,862 from a year earlier as travel warnings were removed while annual visitors grew 2.1 percent to 447,890, tourist promotion office data showed. India retained its position as the top market for generating visitors last year, with the UK remaining in […]
‘s father dies in custody: official
January 7, 2010 (AFP) – The elderly father of Sri Lanka’s slain Tamil rebel chief Velupillai Prabhakaran has died in military custody, officials said Thursday. Thiruvenkadam Velupillai, believed to be in his early 80s, died on Wednesday at an army base outside Colombo, a military official said, adding that he had been in “protective custody” […]
Sri Lanka presidential challenger vows press freedom
January 7, 2010 (AFP) – Sri Lanka’s former army chief on Thursday launched his manifesto for the January 26 presidential elections, promising greater press freedom and a battle against rampant corruption. Sarath Fonseka, 59, the main opposition challenger to President Mahinda Rajapakse, said he would scrap the press council which is empowered to shut down […]
Sri Lanka refugees gets emergency help
June 09, 2010 (LBO) – A refugee resettlement program backed by a 65 million US dollar World Bank emergency credit will begin this month, reaching over 100,000 people in Sri Lanka’s north, the government said. But the government has now re-settled most of them. “The project is to support for re-settlement and the re-establishment of […]
Sri Lanka private citizen pension fund promised real returns
Jan 07, 2009 (LBO) – Sri Lanka’s largest state-managed pension fund, made out of forced savings of private citizens, will be given returns above inflation an official said, amid rising concerns over real losses made in recent years. “We will establish a sound risk-return profile to establish a positive real rate of return over the […]
Sri Lanka treasuries yields up
Jan 06, 2010 (LBO) – Sri Lanka’s Treasury bill yields edged up marginally across maturities at Wednesday’s auction, the government’s debt office said. The 3-month yield moved up 04 basis points to 7. 77 percent, the 6-month yield also moved up 04 basis points to 8.77 percent and the 12-month yield moved up 02 basis […]
Sri Lanka shares close down 0.30-pct, Rajaratnam sells JKH stake
Jan 06, 2010 (LBO) – Sri Lankan stocks closed lower Wednesday, with US fund manager Raj Rajaratnam selling part of his stake in John Keells Holdings (JKH) and retailers buying into hotels stocks on increasing tourist arrivals, brokers said. Aitken Spence Hotel Holdings closed at 299.75, up five rupees, Asian Hotels & Properties ended at […]
Sri Lanka tea exporters press for import liberalisation
Jan 06, 2010 (LBO) – Sri Lankan tea exporters are pressing for liberalisation of tea imports for blending and re-export, saying it could help improve value-addition in the island and expand markets. Jayantha Keragala, chairman of the Tea Exporters Association, said exporters could increase earnings if more imports are allowed for blending and value-addition. Imports […]
Sri Lanka insurance firms seen under pressure as interest rates fall
Jan 06, 2010 (LBO) – Sri Lankan insurance firms face difficulties in maintaining margins as interest rates fall with most funds in risk-free government securities, RAM Ratings Lanka said. With interest rates falling, however, companies will be challenged to maintain their margins, RAM Ratings said. Although investments are an integral part of insurance companies, investment […]
Sri Lankan insurance firm offers cover for the disabled
Disabled Cover Sri Lanka Islamic insurer offers cover for deaf people Jan 06, 2009 (LBO) – Sri Lanka’a Amana Takaful Insurance, an Islamic insurer, said it has started a cover for deaf people in partnership with a disabled group in the south of the island. Amana Takaful, a 10-year old firm, is in both general […]
Sri Lanka debate over inflation: rice price crisis
Jan 06, 2010 (LBO) – Rice, the staple food of Sri Lankans, is in short supply and its price is on the increase. At retail shops, many popular varieties of rice are not available. Rice available at controlled prices is of inferior quality. Free Market and Government’s Interventions In a free market situation, such a […]
Samaraweera fires Sri Lanka to victory
DHAKA, January 5, 2010 (AFP) – Thilan Samaraweera smashed a career-best 105 not out to guide Sri Lanka to a five-wicket win over India in a triangular one-day series match here on Tuesday. The middle-order batsman hit 11 fours in his 106-ball knock for his second one-day hundred as Sri Lanka surpassed India’s 279-9 with […]