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Sri Lanka shares close down 0.4%, rupee at at 111.30 against USD
Dec 11, 2008 (LBO) – Sri Lankan stocks lost closed 0.48 percent lower losing slim gains made a day earlier, while the rupee closed at 111.30/45 against the greenback in a day that saw no central bank intervention, dealers said. The All Share Price Index lost 0.48 percent (7.53 points) to end at 1,561.38 points […]
Sri Lanka in ADB-funded regional tourism effort
Dec 11, 2008 (LBO) – Sri Lanka is among five countries included in an Asian Development Bank (ADB) funded plan to promote south Asian regional tourism and simplify cross-border tourist movements.“Together with the investment project, the technical assistance will enhance the positioning of the sub-region in both intraregional and international markets as one of the […]
Emirates to use polar route in fuel saving flight
Dec 11, 2008 (LBO) – Emirates Airline plans to launch a non-stop direct flight from Dubai to San Francisco in the United States using a polar route to test ways to save fuel and reduce harmful carbon emissions.Emirates said in a statement it worked closely with government agencies in Dubai, Russia, Iceland, Canada and the […]
Sri Lanka listed for GSP+ extension subject to probe outcome
Dec 11, 2008 (LBO) – The European Commission has listed Sri Lanka among countries to which it is extending from next year the GSP Plus duty free trade deal but subject to the eventual outcome of an eligibility probe. Trade experts said the listing, which had earlier been expected only by December 15, means Sri […]
Sri Lanka October exports up 6-pct
Dec 11, 2008 (LBO) – Sri Lanka’s export earnings in October grew 5.9 percent to 661.2 million US dollars from a year ago led by agriculture and apparel, recovering from a fall in September, the Central Bank said.Growth in imports slipped below 20 percent in October for the first time in 2008 after several months […]
‘s Mendis ruled out of Bangladesh Tests
December 11, 2008 (AFP) – Sri Lanka’s spin sensation Ajantha Mendis will miss the upcoming two-Test series in Bangladesh due to an ankle injury, the country’s cricket board said on Thursday.Mendis will be replaced by left-arm spinner Rangana Herath for the Test series starting on December 26, Sri Lanka Cricket (SLC) said. He suffered the […]
Sri Lanka rupee slips to 110.65 against greenback
Dec 10, 2008 (LBO) – The Sri Lanka rupee slipped to 110.65/75 against the greenback on Wednesday from 110.30 two days earlier, but the central bank is continuing to intervene at the new rate, dealers said. The Sri Lanka rupee had come under severe pressure from central bank liquidity injections to maintain reserve money, following […]
Sri Lanka shares break slide on thin trading
Dec 10, 2008 (LBO) – Sri Lankan shares ended slightly firmer Wednesday but on razor thin turnover with brokers saying the minor upturn after a long slide was likely to be short-lived. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index gained 1.31 […]
Interbank Deal
Dec 10, 2008 (LBO) – Sri Lanka’s public listed Commercial Bank of Ceylon says it has sought legal advice over a derivative deal with state-run People’s Bank which was sold to a state petroleum distributor. Sri Lanka’s Supreme Court has halted payments to banks which provided a complex derivative to state-run Ceylon Petroleum Corporation after […]
Sri Lanka tea prices recover slightly after steep fall
Dec 10, 2008 (LBO) – Prices of Sri Lanka’s low grown teas recovered slightly at this week’s auction after plunging for several weeks but it was not clear if they had bottomed out. Teas from the high and mid-grown elevations produced mainly by listed regional plantations companies fell mainly because of lower quality. Forbes & […]
Sri Lankan govt has public backing for war on Tigers: survey – Poll
December 10, 2008 (AFP) – The Sri Lankan government has overwhelming public support for its war against the Tamil Tigers, and most people believe the rebels will soon be defeated, an opinion poll published Wednesday shows. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The privately run […]
Sri Lanka clothing exporter goes east with US aid
Dec 10, 2008 (LBO) – Brandix Lanka, a top Sri Lankan clothing exporter, has got US aid to train workers in a new factory it has set up in the island’s east which the government is trying to develop after driving out Tamil Tiger rebels.The US Agency for International Development and Brandix Lanka are working […]