Category:
Sangakkara powers Sri Lanka to win
NAGPUR, December 9, 2009 (AFP) – Kumar Sangakkara smashed a career-best 78 off just 37 balls to set up Sri Lanka’s 29-run win in the first Twenty20 international against India here on Wednesday. India paid the price for some sloppy fielding with Yuvraj Singh dropping a sitter at point when Jayasuriya (26) was on two, […]
Lack of evidence based policy making can be disastrous: Sri Lanka policy forum
Dec 10, 2009 (LBO) – Ad hoc public policy formulation can be disastrous and both China and India are evolving evidence based processes to back effective government action, academics and researchers said at a policy forum in Colombo.“The strategic direction is set by the Party and State Council and the People’s Congress makes legislation,” Xue […]
Sri Lanka Treasuries move up
Dec 09, 2009 (LBO) – Sri Lanka’s three and six month Treasury bill yields moved up for the second week running, the government’s debt office said, as fiscal policy loosened ahead of elections and private sector credit started to expand. The 3-month yield moved up 11 basis points to 7.51 percent and the 6-month bills […]
Sri Lanka shares close flat
Dec 09, 2009 (LBO) – Sri Lankan stocks closed flat Wednesday as investors took profits from recent gains, while high volume trading on John Keells Holdings (JKH) and Nations Trust Bank helped to pushed turnover up, brokers said.The banking sector has been one of the best performers in the last few weeks, so profit taking […]
Executive Care
Dec 09, 2009 (LBO) – Sri Lankan banks have been urged to select their boards of directors with care to ensure they hire capable people with integrity and not just based on friendship or wealth.Attorney general Mohan Peiris, the government’s chief legal officer, said regulatory standards had been toughened in recent years amid heightened public […]
Sri Lanka could use fresh water bodies for premium tourism
Dec 09, 2009 (LBO) – Sri Lankan policy makers should follow the Maldivian example by opening a few dozen of the thousands inland lakes in the country to attract high end tourists willing to pay high premiums for ‘privacy’, a top architect said. “People are willing to pay 200 – 300 dollars on a holiday, […]
Indian IT industry a target for militants: official
NEW DELHI, December 9, 2009 (AFP) – India’s multi-billion-dollar IT software industry is a target for attacks by militant groups, a top home ministry official warned Wednesday. “We are world leaders in software,” Gopal Pillai, India’s home secretary told a conference on the “Challenge of Terrorism to India’s Infrastructure and Economy” in New Delhi. “The […]
Sri Lanka war risk insurance costly, says cruise line
Dec 09, 2009 (LBO) – Sri Lanka’s continued listing for war risk insurance is costly for shipping lines calling at Colombo port, a cruise line official said.Khosa said Louis Cruises is offering cruises starting from an all-inclusive rate of 100 dollars a night per passenger accommodated in a basic cabin, and going up to 250 […]
Sri Lanka begins groundwork for wind power
Dec 09, 2009 (LBO) – Groundwork for Sri Lanka’s largest wind power project has begun ahead of its launch in May next year, with the contract for logistics services given to global firm, Agility Project Logistics. The company has handled over 210 major projects in the past five years and has operations in 120 countries. […]
Sri Lanka ex-general fears Tiger attack on presidential bid – Interview
December 8, 2009 (AFP) – Sri Lanka’s former military chief who led troops to victory over Tamil separatists in May said he fears fugitive rebels will try to assassinate him during his presidential election campaign.Sarath Fonseka, who is trying to unseat President Mahinda Rajapakse in the January 26 elections, told AFP that about 1,000 Tamil […]
Risk Cover
Dec 08, 2009 (LBO) – The Asian Development Bank (ADB) said it has signed trade finance agreements with three Sri Lankan banks that will help them provide loans and guarantees to exporters and importers.“Nevertheless, companies in emerging markets, particularly small and medium-sized firms, have typically faced difficulties in accessing enough credit to fill export orders […]
Bank Watch
Dec 08, 2009 (LBO) – Sri Lanka’s Central Bank is to introduce a mandatory deposit insurance scheme, strengthen bank supervision and launch an internal rating system for banks, governor Nivard Cabraal said.These were some of the new measures the banking regulator is taking to strengthen the island’s financial system to ensure its future stability and […]