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Sri Lanka Insurance Corp declares bonus to policyholders
Dec 05, 2009 (LBO) – Sri Lanka Insurance Corporation (SLIC) has declared a three billion rupee interim bonus to life policy holders, with another bonus likely to come before the end of the 2009 financial year, a senior official said. Insurance companies pay bonuses to life insurance policy holders if the life insurance fund makes […]
‘s century frustrates India in final Test
MUMBAI, December 5, 2009 (AFP) – Sri Lanka’s captain Kumar Sangakkara scored an unbeaten century to delay India’s victory bid in the third and final Test here on Saturday. The tourists, trailing by 333 on the first innings, survived a middle-order collapse in the post-lunch session to move to 274-6 in their second knock by […]
US envoy to visit Sri Lanka
WASHINGTON, December 4, 2009 (AFP) – A senior US envoy will head to Sri Lanka next week to encourage post-war reconciliation, days after the island nation allowed Tamil civilians to leave detention camps, officials said Friday.Robert Blake, the assistant secretary of state for South Asia, will visit Sri Lanka on Monday and Tuesday in the […]
Sri Lanka keeps up media ban on war refugees
December 4, 2009 (AFP) – Sri Lanka has maintained its ban on journalists reporting the plight of war-displaced civilians who have been allowed out of their internment camps, officials said Friday.Foreign minister Rohitha Bogollagama declared in a BBC interview Tuesday that the media now had full access, prompting a flood of requests from reporters to […]
UN View
GENEVA, December 4, 2009 (AFP) – The UN refugee agency said on Friday that it was encouraged by “increased freedom of movement” for war-displaced civilians in Sri Lanka who have been in internment camps in the north of the island. “We are encouraged by the Sri Lankan government’s long-awaited decision this week to allow increased […]
Sri Lanka stocks close down 0.14-pct on profit taking
Dec 04, 2009 (LBO) – Sri Lankan shares closed down Friday as retail investors were seen taking profits from this week’s rally, while big trades in John Keells Holdings (JKH) and Distilleries Company pushed turnover levels up, brokers said. The All Share Price Index closed at 3,000.33 down 0.14 percent (4.28 points) while the Milanka […]
Sri Lanka mulls support for desiccated coconut exporters
Dec 04, 2009 (LBO) – Sri Lanka’s Plantations Industries Ministry is considering giving an export rebate to desiccated coconut product exporters, a senior official said.Duty on edible oil imports was raised to protect coconut oil millers, who were otherwise unable to compete with cheap edible oil imports. Higher demand from coconut oil mills pushes up […]
Sri Lanka tea export earnings hit monthly high
Dec 04, 2009 (LBO) – Sri Lanka’s tea export earnings in October hit a record high and average auction prices this year were much higher than in the last two years, although shipments were down owing to production problems, brokers said. The year-to-date average price of tea was also higher at 3.14 dollars a kilo […]
Digital Divide
Dec 04, 2009 (LBO) – Sri Lanka will have to lobby to retain funding for its e-Sri Lanka initiative, as the World Bank draws up a lending program for Sri Lanka for the next three years, an official said. The World Bank currently supports the e-Sri Lanka project an initiative to improve access and use […]
India on top despite Sehwag heartbreak
MUMBAI, December 4, 2009 (AFP) – Ruthless India left Sri Lanka fighting for survival in the final Test here on Friday after Virender Sehwag missed a world record third triple-century by seven runs.Sehwag’s 293, a robust 100 not out from skipper Mahendra Singh Dhoni and a string of half-centuries by the middle order fired the […]
Sri Lanka to rebuild northern town
Dec 04, 2009 (LBO) – Sri Lanka plans to spend 15 billion rupees on rebuilding a northern town that was affected by fighting between security forces and Tamil Tiger separatists, the Ministry of Urban Development said.It said in a statement that an entirely new city will be built in the town of Vavuniya under the […]
‘s high deficit spending hurt investment capital: analysts
Dec 04, 2009 (LBO) – Sri Lanka’s deficit spending, heavy state consumption, opaque monetary and fiscal policies and resulting high inflation has stifled investment credit markets and skewed savers towards the short term, analysts have said.“Vacillating primary account deficits meant volatile interest rates, further hampering any viable termed out structure of savings, of whatever savings […]