Category:
Trade Links
June 27, 2009 (LBO) – Sri Lankan freight forwarders have complained that the lack of Customs automation is a serious obstacle to improving efficiency of trade and achieving the island’s aim of becoming a logistics hub. Waidyaratne said the freight forwards association has decided to approach the government at the highest level and prepare a […]
Capital Threshold
June 27, 2009 (LBO) – Fitch Sri Lanka has upgraded state-run People’s Bank’s (PB) long term rating by one notch to ‘A(lka)’ from ‘A-(lka)’ and changed its outlook to ‘stable’ from ‘positive’ at the new level, after reaching minimum capital requirements. The achievement of capital adequacy ratios came form a 1.5 billion rupees capita injection […]
India to play triangular tournament in Sri Lanka
NEW DELHI, June 27, 2009 (AFP) – India will play a triangular one-day international tournament in Sri Lanka in September with New Zealand as the third team, the country’s cricket board said on Saturday.The teams will play each other once with the top two advancing to the final, the Board of Control for Cricket in […]
Fitness will be key against Sri Lanka, says Alam
LAHORE, June 27, 2009 (AFP) – Pakistan coach Intikhab Alam said his players’ fitness will be the key on their tour of Sri Lanka as the 15-man Pakistan team set off on Saturday.Alam, who led the team to the World Twenty20 title in England last week, warned that the biggest problem for the tourists will […]
Sri Lanka accuses IMF of playing politics
WASHINGTON, June 27, 2009 (AFP) – Sri Lanka on Friday accused the International Monetary Fund of politicizing financial aid following the fund’s delay in considering a 1.9-billion-dollar bailout for the war-ravaged economy. “Never ever has the IMF taken political factors into account. Now, it seems for the first time they are doing that — indirectly,” […]
Sri Lankan shares down 0.2-pct during week
June 26, 2009 (LBO) – Sri Lankan stocks recovered on Friday, pushed up by retail investors who targeted blue chips and midcap shares, while foreign investors were net sellers during the week, brokers said. The benchmark Colombo All Share Price Index closed up 1.16 percent (28.03 points) to end at 2,447.04 Friday while the Milanka […]
Indian Trade
June 26, 2009 (LBO) – A contract to build a new container terminal in Sri Lanka’s Colombo port, despite delays, will be awarded before the year-end, and the facility will be assured of cargo given Indian growth, a senior official said.Sri Lanka Ports Authority chairman Priyath Bandu Wickrama said that although India had begun expanding […]
Public Bail
June 26, 2009 (LBO) – Sri Lanka’s Seylan Bank will be bailed out with the help of money from state institutions while a bid from a private investor was rejected because it did not meet ownership limits, the Central Bank said. There will be no change in the board. Seylan will also continue its link […]
Sri Lanka drafts new rules for marine tourism
June 26, 2009 (LBO) – Sri Lanka is drafting new rules to protect the marine environment with tourist ventures such as whale and dolphin watching expected to become big business with the end of the war, a senior official said.Michael noted how unregulated tourism had spoilt some of the island’s best beaches such as in […]
Software Support
June 26, 2009 (LBO) – A microfinance software application developed by two Sri Lankan university students has been selected as one of the six finalists to compete in the ‘MashUP’ category at a world information technology competition.The MashUp application ‘Hope for poor – Sasrutha’ developed by the University of Moratuwa students will help both parties […]
Indian forces get chilli bombs for crowd control
NEW DELHI, June 26, 2009 (AFP) – Indian soldiers will hurl hand grenades containing red chilli powder to dispel rioters instead of the potentially lethal explosives currently used, an official said Friday.Paramilitary forces have been known to break up protests and conduct counter-insurgency operations using explosives that can cause serious injury and even death. “The […]
Maldives planning US150mn bunker, crude terminal
June 26, 2009 (LBO) – The Indian Ocean archipelago of Maldive Islands is planning a 150 million US dollar crude and bunker facility that can store six million cubic feet of oil, which will be leased to global fuel oil traders, a media report said. The Maldives National Oil Company (MNOC) is considering five possible […]