Category:
Sri Lanka bonds volatile after rate freeze
July 13, 2009 (LBO) – Three year bond yields edged up slightly Monday as the central bank froze its policy rate at 11.00 percent, but fell back in late trading dealers said, while yields at an auction also stayed steady. The government’s debt office which is a unit of the central bank said it sold […]
Sri Lankan shares close up 0.24-pct
July 13, 2009 (LBO) – Sri Lankan stocks closed up Monday as retailers cautiously re-entered the market focusing on selected hotel and banking stocks, while institutional and high net-worth individual investors stayed away, brokers said. The All Share Price Index rose 0.24 percent (5.78 points) to end at 2,368.87 while the Milanka index of more […]
Shipping Forum
July 13, 2009 (LBO) – Sri Lanka is to host a meeting of Asian shippers in Colombo, a conference made possible after 15 years of lobbying because of the end of the ethnic war, the Sri Lanka Shippers’ Council (SLSC) said. The meeting is expected discuss policy issues, maritime security, shipping costs like terminal handling […]
Northern Loan
July 13, 2009 (LBO) – Sri Lanka’s central bank is giving three billion rupees to several banks to lend to small and micro businesses in agriculture and fisheries and in the war-torn north of the island. Following the end of fighting with Tamil Tiger separatists in May, Kilinochchi and Mullaitivu have been largely depopulated and […]
Best Bank
July 13, 2009 (LBO) – HSBC said it had been named the ‘Best Global Bank, by Euromoney magazine, in its 2009 awards.It also won the Best Global Debt House and Best Global Transaction Banking House, awards. Michael Geoghegan, group chief executive of HSBC said in a statement that winning award during the turmoil was not […]
Outsourcing
July 13, 2009 (LBO) – India’s Quatrro BPO Solutions said it is considering moving more business process outsourcing work to Sri Lanka and that productivity concerns raised by its chairman Raman Roy were limited to certain processes.“We are in active discussions to move more processes to Sri Lanka and Quatrro continues to be a strong […]
‘s next outsourcing boom: comedy
MUMBAI, July 13, 2009 (AFP) – In 1979, Don Ward opened a small club in London to provide a stage for the best of Britain’s undiscovered comic talent.After 30 successful years, he now wants to do the same in India. Ward is taking The Comedy Store out of Britain for the first time, opening a […]
Sri Lanka May 2009 clothing exports fall, tea shipments up
July 13, 2009 (LBO) – Sri Lanka’s May 2009 export earnings fell 27.8 percent to 538.5 million US dollars from year ago, mainly because of lower clothing exports, although tea exports went up, the Central Bank said. Imports of consumer goods fell by 41.2 percent to 140 million US dollars, largely on account of lower […]
Enigmatic Pakistan bounce back in second Test
July 13, 2009 (AFP) – Debutant Fawad Alam scored an unbeaten century as Pakistan produced a remarkable turnaround to claw their way back in the second Test against Sri Lanka on Monday.The tourists, who were bowled out for 90 in their first innings, hit back to dismiss Sri Lanka for 240 and then cruised to […]
Sri Lanka regional economic disparities narrowing: Central Bank
July 13, 2009 (LBO) – Regional economic disparities in Sri Lanka declined further last year although the Western Province continued to dominate with 45.4 percent share in gross domestic product (GDP), the Central Bank said. Provinces with smaller GDP have grown faster but a few lag behind and need more support, it said in a […]
Sri Lanka central bank warns of rising inflationary pressures
July 13, 2009 (LBO) – Sri Lanka’s central bank, which brought inflation down to 0.9 percent in June, warned of higher inflation raising the possibility that it may lag behind better performing dollar pegged peers in the region. Inflation fell to 0.9 percent in June, the lowest since February 2004, when consumer inflation in Sri […]
Sri Lanka policy rates unchanged in July: Central Bank
July 13, 2009 (LBO) – Sri Lanka’s key reverse repo rate would be held at 11.00 percent while bank lending rates were moving steadily down in response to rate cuts, the Central Bank said in its July monetary policy review. Foreign hedge funds were putting money back into government securities. In May Sri Lanka’s military […]