Tag: news
Sri Lanka consumer durables group profits plunge in December
Mar 04, 2014 (LBO) – Profits at Singer Sri Lanka Plc, a consumer durables retailer, fell 71 percent to 93 million rupees in the December 2013 quarter from a year earlier, but sales are no longer shrinking, the firm said. The group reported earnings of 74 cents per share. For the full year to December […]
Sri Lanka central bank plugs IFRS disclosure hole
Mar 04, 2014 (LBO) – A directive by Sri Lanka’s central bank has plugged a hole in newly introduced International Financial Reporting Standards (IFRS) which made accounts of banks opaque and confused the general public and even analysts. Under IFRS, banks which were earlier disclosing total non-performing loans and deposit with break downs to the […]
Free trade deal will open new avenues for BIMSTEC region: Sri Lanka President
Mar 04, 2014 (LBO) – A free trade deal that is being negotiated in countries bordering the Bay of Bengal, will open new avenues for co-operation, Sri Lanka’s President Mahinda Rajapaska said meeting of the regional grouping.ASEAN is usually looked upon as an example of a successful regional organization. ASEAN (the Association of South East […]
Sri Lanka inflation at 2.5-pct in February by citizen index
Mar 03, 2014 (LBO) – Sri Lanka’s inflation in February 2014 was measured at 2.5 percent by an index compiled by private citizens, coming below the 4.2 percent indicated by the state statistics office.Sri Lanka’s credit growth has been weak in the past year and the Central Bank has also been sterilizing foreign exchange purchases. […]
” with rights resolution
COLOMBO, February 28, 2014 (AFP) – Sri Lanka’s president on Friday acknowledged his discomfort at the prospect of being censured by the UN’s top rights body, as he accused Washington of treating Colombo like Muhammad Ali’s “punching bag”.Although the exact text of the resolution is still not known, the US has said it will file […]
New mass grave found in Sri Lanka ahead of UN rights meet
COLOMBO, March 1, 2014 (AFP) – Another unmarked mass grave has been found in Sri Lanka’s former war zone, police said Saturday, as Colombo braced for a US-led censure resolution at the UN rights forum next week.A family on Friday stumbled upon nine bodies buried in the garden of their home in the district of […]
‘s rights record poor in 2013
WASHINGTON, February 27, 2014 (AFP) – From China’s crackdown on activists to flawed elections in Cambodia and widespread violence against Muslims in Myanmar, Asia’s human rights record in 2013 remained poor, US officials said Thursday. Releasing its annual Human Rights report, the State Department documented a litany of abuses across the continent, with especially strong […]
Sri Lanka inflation at 4.2-pct in February
Feb 28, 2013 (LBO) – Sri Lanka’s consumer prices rose 4.2 percent in the 12-months February 2014, down from 4.4 percent in January, the state statistics office said.The widely watched Colombo Consumer Price Index rose 0.2 percent during the month. Annual average inflation, a lagging indicator averaged across two years eased to 6.0 percent in […]
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COLOMBO, February 25, 2014 (AFP) – Sri Lanka Tuesday accused the UN rights chief of “unwarranted interference” by calling for an international inquiry into allegations troops killed thousands of civilians at the end of the civil war.The government of President Mahinda Rajapakse formally rejected the demand by rights chief Navi Pillay for an external investigation […]
Afghan President Karzai cancels Sri Lanka visit
COLOMBO, February 23, 2014 (AFP) – Afghan President Hamid Karzai cancelled a two-day state visit to Sri Lanka Sunday, the foreign ministry in Colombo said, as Taliban insurgents killed 20 of his soldiers in eastern Afghanistan.“Please note that the visit of the President of Afghanistan to Sri Lanka has been cancelled,” the ministry said without […]
Sri Lanka prosperity up by revised index: Central Bank
Feb 20, 2014 (LBO) – Sri Lanka’s prosperity has risen by 6.8 percent over 2012 according to an index compiled by the Central Bank, which has been revised with additional parameters being added. “The Prosperity Index enables national policy makers, provincial authorities, and business and community stakeholders to measure the prosperity of provinces in a […]
Sri Lanka in constant battle to keep up coin supply
Feb 20, 2014 (LBO) – Sri Lanka’s central bank is battling to keep the country supplied with coins as metal prices go up and coins disappear from circulation into piggy banks and places of worship.The Central Bank estimates that 20 to 30 tonnes of Sri Lankan coins are accumulated at Temples and Churches in India […]