Category:
Sri Lanka private sector, UNHCR pave the way for returning refugees
June 12, 2009 (LBO) – A United Nations agency is getting private sector support to help re-settle a part of the 660,000 refugees in the country who are starting to return to their former homes, officials said. Brandix Lanka, a top Sri Lankan apparel group, is working with the UNHCR to provide water and sanitation […]
Sri Lankan shares close up 0.8-pct
June 11, 2009 (LBO) – Sri Lankan stocks closed up 0.8 percent Thursday as investors targeted fundamentally strong stocks while expectations were also strengthening that an International Monetary Fund (IMF) bail out would come, brokers said. The Colombo All Share Price Index closed up 0.80 percent (17.68 points) to end at 2,220.11 while the Milanka […]
Dark Continent
June 11, 2009 (LBO) – Sri Lanka’s Commercial Bank of Ceylon is planning to finance renewable power plants in Africa with the help of the International Finance Corporation (IFC), an official said. Commercial Bank officials did not say who their engineering partners in Uganda would be. In July 2007 Sri Lankan power company Eco Power […]
Northern Banking
June 11, 2009 (LBO) – Sri Lanka’s central bank said banks have been given the nod to open 67 new outlets in the last three weeks in the north of the island after the area was freed of Tamil Tigers. “This trend of banking expansion in the Northern Province is expected to grow with the […]
Geothermal energy industry could create 17,000 Australian jobs: report
BRISBANE, June 11 (Asia Pulse) – More than 17,000 jobs could be created in Australia’s geothermal energy industry by 2050, a new report says. The geothermal industry, which involves extracting heat stored in the earth to generate power, is growing in Australia with almost 400 tenements for projects and around $A1.5 billion (US$1.2 billion) in […]
India orders no-fishing zones in security move
NEW DELHI, June 11, 2009 (AFP) – The Indian government is to ban fishing near sensitive facilities as part of an ongoing major security upgrade spurred by last year’s attacks on Mumbai by Islamic militants, an official said Thursday.No-fishing zones will be created along 7,500 kilometres (4,650 miles) of designated coastal zones to protect “important” […]
Sri Lanka Mitsubishi agent makes loss
June 11, 2009 (LBO) – Sri Lanka’s United Motors Lanka Limited (UMLL) group, agents for Japan’s Mitsubishi lost 90 million rupees in the March 2009 quarter as revenues dropped 13.0 percent to 7.30 billion rupees. For the year to March the firm lost 2.53 million rupees while revenues dropped 13.0 percent to 7.30 billion rupees. […]
On-song Sri Lanka set for Super Eights
NOTTINGHAM, June 11, 2009 (AFP) – Sri Lanka emerged as one of the favoured teams in the World Twenty20 after their clinical destruction of mighty Australia and the West Indies in the first round.
Japan urges Sri Lanka to engage international community
June 11, 2009 (AFP) – Japan on Thursday urged Sri Lanka to develop closer ties with the international community as Colombo tries to rebuild the war-battered north of the island after decades of bloody ethnic conflict.Akashi said international opinion was divided on the way the conflict with the Liberation Tigers of Tamil Eelam (LTTE) ended, […]
Sri Lanka bill yields edge lower
June 10, 2009 (LBO) – Sri Lanka’s Treasury bills yields edged marginally lower as the government sold 4.5 billion rupees of maturing bills to the market at Wednesday’s auction, the debt office said. However selling down the T-bill stock to lock up foreign reserves also puts pressure on interest rates.The 3-month yield fell to 03 […]
Sri Lankan stocks up, investors buy blue chips
June 10, 2009 (LBO) – Sri Lankan shares closed up Wednesday as retail investors moved back to safe stocks from speculative counters, while tycoon Harry Jayawardena controlled Aitken Spence continued its bull-run, brokers said. “Investors who walk into the market should at least look at a three month investment horizon, as at present levels the […]
Sri Lanka Finlay teas sell well in Iraq
June 10, 2009 (LBO) – Sri Lanka’s James Finlay group said tea exports to Iraq did well in 2008 despite the strife and that it expanded its marketing and launched a new product with higher profit margins. Jayasuriya said the company took advantage of the oil price boom of 2007-08 which increased consumer spending in […]