Tag: news
Sri Lanka smokers cough up taxes worth 1-pct of GDP
Apr 30, 2011 (LBO) – Sri Lanka’s smokers have coughed up 56 billion rupees in taxes collected through Ceylon Tobacco Company, a unit of British American Tobbacco which is equal to one percent of gross domestic product, the company said. Taxes rose by 3.7 percent or 7.0 percent from a year earlier. CTC chairman Jayampathy […]
Sri Lanka inflation accelerates to 9.8-pct in April
Apr 29, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 9. 8 percent in April from a year earlier, accelerating from 8.6 percent in March, data from the government’s statistics office data showed. But excess liquidity remains close to 100 billion rupees, or about a third of the money officially defined monetary […]
Fed chief hums and haws in historic press meet
WASHINGTON, April 27, 2011 (AFP) – His voice cracked and pinched. When necessary — most of the time — he retreated into policy jargon. With markets ready to pounce on any odd choice of words, US central bank chief Ben Bernanke was clearly nervous as he fielded reporters’ questions after a policy meeting for the […]
Sri Lanka Vietnam economic links to widen with re-opened embassy: envoy
Apr 28, 2011 (LBO) – Sri Lanka could attract investments from Vietnam if the path is clear and the two nations could increase two-way trade and tourism rapidly, Ton Sinh Thanh, Hanoi’s envoy heading a newly re-opened embassy in Colombo, said. FDI Vietnam itself is receiving tens of billions of dollars of investment from Japan, […]
Sri Lanka rupee strengthens below 110 to greenback
Apr 28, 2011 (LBO) – Sri Lanka’s rupee strengthened to below 110 to green back as the dollar slid to record lows against currencies issued by other monetary authorities with higher interest rates, dealers said. The spot dollar was quoted around 109.90/95 in mid morning trade. The Australian dollar, rose to a 29-year high against […]
” UN report
April 27, 2011 (AFP) – Sri Lanka rejected Wednesday what it called a “divisive” and flawed report commissioned by UN chief Ban Ki-moon which holds the government responsible for thousands of civilian deaths in its civil war. “The public release of the report at this stage is divisive, and disrupts our efforts to reinforce peace, […]
Asians driven to extreme poverty by commodity bubble
Apr 27, 2011 (LBO) – Rising food prices from a global commodity bubble could push 64 million people in developing Asia into extreme poverty, the Asian Development Bank said adding to rising concerns about the effects loose US monetary policy. Many such central banks also create their own inflation, adding to inflation generated by the […]
UN feared for staff in Sri Lanka conflict finale: Ban
UNITED NATIONS, April 27, 2011 (AFP) – The United Nations feared for its staff in Sri Lanka as government troops crushed a Tamil separatist uprising in 2009, UN chief Ban Ki-moon said Tuesday defending the actions of UN agencies. As pressure grew for an international investigation into the killing of “tens of thousands” in the […]
Sri Lanka IPO pricing based on latest financials: advisors
Apr 26, 2011 (LBO) – Financial advisors for a forthcoming share issue by Sri Lanka’s Expolanka group have defended the pricing of the public offer at more than twice that of a private placement late last year. Expolanka Holdings is to raise 2.4 billion rupees by issuing 172 million ordinary voting shares at 14 rupees […]
UN releases report on Sri Lanka
UNITED NATIONS, April 25, 2011 (AFP) – The Sri Lankan army killed most of the tens of thousands of civilian victims of a final offensive against Tamil separatists in 2009 but both sides may be guilty of war crimes, a UN panel said Monday. UN Secretary General Ban Ki-moon said he could not order an […]
UN chief says no probe into Sri Lanka mass killings
UNITED NATIONS, April 26, 2011 (AFP) – UN chief Ban Ki-moon has said he cannot order an international probe into the killing of tens of thousands of civilians during Sri Lanka’s final assault on Tamil separatists in 2009. His remarks came after a UN panel said Monday that the Sri Lanka military killed most of […]
Sri Lanka state petroleum firm lose US$260mn
Apr 26, 2011 (LBO) – Sri Lanka’s state run petroleum distributor Ceylon Petroleum Corporation has lost 28.6 billion rupees in 2010 as due to rising cost and arbitrary political control of its retail prices, official data show. Sri Lanka has no cost-basis for fuel pricing and prices are controlled by arbitrary by the state while […]