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Sri Lanka international airport plans expansion
July 23, 2009 (LBO) – Sri Lanka’s sole international airprot has plans to expand further if traffic grows beyond existing capacity with the end of a three decade internal war, a senior official said. But he said in the post-war environment demand for aviation will grow. “Aviation is very sensitive to war and also very […]
Sri Lanka Treasuries yields fall across maturities on IMF loan
July 22, 2009 (LBO) – Sri Lanka’s Treasuries fell across maturities at Wednesday’s auction with the 3-month yield falling 26 basis points to 10.79 percent, the government’s debt office said.In the first four months of the year, Sri Lanka had already run a 4.0 percent of GDP deficit, putting the country on a path to […]
Sri Lanka shares up, Lanka Cement draws interest
July 22, 2009 (LBO) – Sri Lankan shares ended firmer Wednesday, still riding the momentum generated by the government clinching a 2.5 billion dollar International Monetary Fund loan, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index rose 0.47 percent (11.71 […]
Northern Links
July 22, 2009 (LBO) – Sri Lanka has drawn up plans to rebuild shattered road networks in the north and east costing over 750 million dollars for which it is seeking foreign funding, a senior government official said.The projects include highways linking the northern Jaffna peninsula with the south, two circular roads around the peninsula […]
Target Date
July 22, 2009 (LBO) – Millicom International Cellular, the parent of Sri Lanka’s Tigo celco, would complete the sale of its Asian operations by the first quarter of 2010, chief executive Mikael Grahne has said.“The disposal of our Asian assets is in progress and expression of interest have been received from a number of parties […]
Kalashnikov demand soars with violence in NW Pakistan
PESHAWAR, July 22, 2009 (AFP) – The price of a Kalashnikov assault rifle is soaring as militant groups and private militias mushroom in an increasingly battle-torn northwest Pakistan, arms dealers and buyers say. Civilians too, frightened by the upsurge in violence and citing a lack of government protection, are also forking out to arm themselves […]
Sri Lanka tries solar power to pump water in remote villages
July 22, 2009 (LBO) – Use of solar power to pump water in remote Sri Lankan villages in a trial project designed by British engineers helps save fuel costs and could be replicated in other rural communities elsewhere, experts said.The project is now specifically used to rapidly re-settle people displaced by the conflict in the […]
Sri Lanka invites bids for coal
July 22, 2009 (LBO) – Sri Lanka has invited bids to supply 2.4 million metric tomes of coal for the country’s first coal power plant built by state-run Ceylon Electricity Board, which is scheduled to be commissioned next year.Lanka Coal Company (Private) Ltd, a specially incorporated company for coal procurement, said in a advertisement in […]
‘s ton gives Pakistan control of final Test
July 22, 2009 (AFP) – Former captain Shoaib Malik hit an unbeaten 106 on Wednesday to put Pakistan on course for a face-saving victory in the third and final Test against Sri Lanka here.Pakistan, who lost the first two Tests to hand Sri Lanka a decisive lead in the series, finally flexed their batting muscle […]
Pakistan run into trouble in final Test
July 22, 2009 (AFP) – Pakistan lost three quick wickets to fritter away the advantage on the third morning of the third and final cricket Test against Sri Lanka here on Wednesday. The tourists took their second innings from an overnight 16-1 to 86-4 by lunch at the Sinhalese sports club, an overall lead of […]
Sri Lanka IMF deal fine print will increase confidence: analysts
July 22, 2009 (LBO) – An International Monetary Fund loan will beef up Sri Lanka’s external solvency but it will raise investor confidence further once details spelling out an economic plan agreed with the lender are published, analysts said.In 2004 a growth oriented IMF backed structural adjustment program was abandoned half way and budget deficits, […]
Sri Lankan stocks rally on IMF loan deal
July 21, 2009 (LBO) – Sri Lankan shares rallied Tuesday on news the government had secured a long-awaited loan from the International Monetary Fund (IMF) that brokers said could boost investor confidence and bring in more foreign investors. Share prices shot up over 2.5 percent in early morning trade as news broke the government had […]