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‘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 […]
Rice researchers say prices depend on US dollar
MANILA, July 21, 2009 (AFP) – A weak US currency is expected to put fresh pressure on rice prices just a year after a global supply crunch caused the cereal to rocket above 1,000 dollars a tonne, the International Rice Research Institute said.The situation “suggests that a falling dollar will keep rice (and commodity) prices […]
Sri Lanka air force launches commercial flights
July 21, 2009 (LBO) – Sri Lanka’s air force has started domestic commercial flights using aircraft freed from regular transport missions to support government troops with the end of the war against Tamil Tigers.Regular commercial flights to Jaffna began after the Tigers cut off the land route to the peninsula and are still in demand […]
Sri Lanka falter after bowling Pakistan for 299
July 21, 2009 (AFP) – Sri Lanka lost three quick wickets after they dismissed Pakistan for 299 on the second morning of the third and final cricket Test here on Tuesday.Malinda Warnapura was bowled first ball by Umar Gul and Tharanga Paranavitana was removed in similar fashion by Pakistan captain Younus Khan to make Sri […]
Sri Lanka plans ambitious 7.0-pct deficit under IMF program
July 21, 2009 (LBO) – Sri Lanka is planning a budget deficit of 7.0 percent of its economy under a plan agreed with the International Monetary Fund, which will help improve the country’s rating and open the way for foreign financing, a top official said. A 7.0 percent target is tight for Sri Lanka and […]
Sri Lanka exporters to get incentives next month
July 21, 2009 (LBO) – Over 200 Sri Lankan firms have qualified for a government export incentive scheme the first payments of which are expected next month, but many claims have been rejected owing to errors in applications, officials said. “It is a reward to direct exporters in manufacturing processing industries who have survived the […]
Sri Lanka foreign funding case strengthened by IMF loan: CB Governor
July 21, 2009 (LBO) – Sri Lanka will have more options to tap foreign investors after it gets a 2.5 billion US dollar standby loan from the International Monetary Fund, Central Bank governor Nivard Cabraal said. Cabraal said he will also be in London later this week to “update investors.” “Once we get a feeling […]
Sri Lanka to get US$2.5bn IMF loan
July 21, 2009 (LBO) – Sri Lanka will get 313 million US dollars on July 24 as part of a 2.5 billion US dollar stand by loan running for 20 months, International Monetary Fund managing director Dominique Strauss-Kahn said. Under the program Sri Lanka was expected to improve its budgets, that had high deficits financed […]
Sri Lankan stocks up 1.16-pct
July 20, 2009 (LBO) – Sri Lankan shares rose Monday, as investors chased high value counters, while there was some speculative interest on Lanka Cement and Hotel Developers, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 1.16 percent (27.90 points) to end at 2,422.92 Monday, while the Milanka index of liquid […]