Category:
Sri Lanka raises 23 mln dollars to rehabilitate ex-combatants
September 20, 2009 (AFP) – Sri Lanka is seeking foreign money for an ambitious plan to rehabilitate tens of thousands of former Tamil Tiger rebels and has already collected 23 million dollars, officials said Sunday. The Tamil Tigers, who fought for a separate homeland from 1972, were defeated by Sri Lankan troops in mid-May when […]
Sri Lanka women workers to face brunt of EU GSP loss
Sept 20, 200 (LBO) – Women workers would be hardest hit if the European Union withdraws duty free market access to Sri Lankan exports, given to countries that meet a governance and a rights threshold set by the trade bloc.The potential loss of the GSP Plus duty concession could lead to job losses if Sri […]
Sri Lanka to use monetary policy tool mix to target inflation: CB official
Sept 19, 2009 (LBO) – Sri Lanka was ready to change intermediate targets or vary its policy tools dynamically to keep inflation low, a senior central banker said, though the final inflation target is as yet somewhat loosely defined.Sri Lanka’s central bank has a loosely defined inflation target of “single digit”.In 2007 and 2008 Sri […]
Sri Lanka thieves hot on spices
Sept 18, 2009 (LBO) – Theft of spices from Sri Lankan gardens is a serious problem that could kill the trade, the new head of the island’s spice traders association has said. The global demand for spices will continue to increase because of growing awareness that consumption of spices contribute to good health, he said. […]
UN calls for Sri Lanka probe into rights abuse charges
September 19, 2009 (AFP) – A top UN official issued a strong call for “truth-seeking” into alleged excesses by security forces during the crushing of Tamil rebels as he ended a visit to Sri Lanka, a UN statement said Saturday. The UN has said that up to 7,000 civilians may have perished in the first […]
Sri Lanka bond deal to JP Morgan, HSBC, RBS
Sept 18, 2009 (LBO) – Sri Lanka’s 500 million US dollar bond deal has been given to HSBC, JP Morgan, and Royal Bank of Scotland who will be joint managers and underwriters, the Central Bank said. Foreign fund managers have been pouring into the country’s government bond markets to buy high yielding rupee bonds which […]
Sri Lanka shares becalmed, profit taking seen
Sept 18, 2009 (LBO) – Sri Lankan stocks ended flat Friday with trading heavy but volatile and some profit taking seen and investors buying blue chips in anticipation of future foreign buying, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]
Lower Risk
Sept 18, 2009 (LBO) – International underwriters in London have further lowered the war risk rating for Sri Lanka following the defeat by government forces of Tamil Tigers, and appear to have excluded Colombo port, a senior official said.The London market’s Joint Cargo Committee (JCC) has lowered the risk rating from 3.0 to 2.9 – […]
Craft Claim
Sept 18, 2009 (LBO) – Sri Lanka’s Colombo Dockyard said it rejected claims it faced a five billion rupee claim over unpaid taxes and customs duties on sale of vessels it built and that it was challenging a court petition by customs.The shipyard said in a stock exchange filing that it had settled all taxes, […]
Name Change
Sep 18, 2009 (LBO) – Ceylinco Finance, a Sri Lankan finance company that was part of the troubled Ceylinco group, has changed its name to Nation Lanka Finance to make a fresh start, a senior company official said. “The company is heading towards a new direction,” N B S B Balalle, chairman of Nation Lanka […]
Risk Monitoring
Sept 18, 2009 (LBO) – Sri Lanka’s Bartleet TransCapital, has linked up with Aprivaa and risk consulting and analytical service provider for banks, insurers and asset managers, the company said.“The ever increasing complexity of products in the financial services sphere and the volatility of financial markets, make risk management and regulatory compliance of utmost importance, […]
Sri Lanka tea prices up on supply concerns
Sept 18, 2009 (LBO) – Sri Lankan tea prices were again propelled higher at the Colombo auctions this week by supply concerns stemming from a worker go-slow on upcountry estates and a global production shortfall, brokers said. Auctions prices are likely to stay high as drought in major tea exporting countries had reduced the crop […]