Tag: Sri Lanka
Gas Buy
Oct 07, 2010 (LBO) – Sri Lanka will purchase a 51 percent stake in a liquid petroleum gas distributor in the island from Shell, a Dutch oil firm, for 63 million US dollars the government’s information office said Shell also built a terminal to store gas. See update on this story below with details of […]
Sri Lanka made right decision on gold: Central Bank Governor
Oct 06, 2010 (LBO) – Sri Lanka made the right decision in increasing the gold component of reserve assets, Central Bank Governor Nivard Cabraal said as gold prices hit fresh highs on loose US monetary policy that is driving the dollar down as well as higher real demand. About 11 percent of the central bank’s […]
Sri Lanka says met IMF targets, mission in November
Oct 06, 2010 (LBO) – Sri Lanka has met key quantity targets in September for foreign reserves, local borrowing and money creation limits, under a deal with the International Monetary Fund, the Central Bank said. Sri Lanka has not yet released the IMF staff review of the economy was given to the board of the […]
Sri Lanka business caught napping by war-end: senior banker
Oct 05, 2010 (LBO ) – Sri Lanka’s large enterprises were caught napping by the end of a 30-year war, and smaller firms which required less planning were first off the mark, a senior banker has said. The central bank had said that by July 2010 loans from commercial banks to the private sector rose […]
Gas Grin
Oct 05, 2010 (LBO) – Sri Lankan liquid petroleum gas supplier Laugfs Gas is seeking to raise 2. 5 billion rupees in an initial public offer opening on November 04, 2010, a stock exchange filing said. Laugfs Gas will offer for subscription 75 million ordinary voting shares at 23 rupees a share, to raise 1,725 […]
Sri Lanka ex-army chief vows to fight from jail
October 4, 2010 (AFP) – Sri Lanka’s jailed ex-military chief and opposition leader Sarath Fonseka vowed to fight for democracy as he was escorted out of prison Monday to attend another court case against him. Fonseka, 59, told supporters outside the Colombo High Court that he was prepared to sacrifice his life and will not […]
Sri Lanka ex-army chief rejects clemency plea: wife
October 1, 2010 (AFP) – Sri Lanka’s jailed ex-military chief Sarath Fonseka, who fell out with the president after the army’s crushing defeat of Tamil rebels, has rejected a government offer to consider clemency, his wife said Friday. Anoma Fonseka said she met her husband at Colombo’s Welikada prison where the former four-star general began […]
Sri Lanka hopes to use war strategy on economy
Oct 02, 2010 (LBO) – The skills that enabled Sri Lanka win against Tamil separatists can be used to revive the economy and catch up on growth lost by 30 years of war, an architect of the military campaign said. One of the key weaknesses was lack of manpower to hold areas cleared of Tamil […]
‘s ex-army chief begins jail sentence
September 30, 2010 (AFP) – Sri Lanka’s ex-army chief Sarath Fonseka, who led troops to victory over Tamil rebels to end a decades-long civil war, on Thursday began 30 months in jail after the president confirmed the sentence. Troops escorted the former four-star general to the island’s main Welikada prison, hours after the government announced […]
Sri Lanka ratings can improve on public sector reforms, lower debt: S&P
Oct 01, 2010 (LBO) – Sri Lanka’s ratings can improve if the government uses its political strength to reform the public and economic policy which would allow public debt to come down, Standard & Poor’s, a rating agency has said. Following recent electoral victories the government no longer depended on the support of “minority extremist […]
Sri Lanka stocks world top performer: Bloomberg data
Oct 01, 2010 (LBO) – Sri Lanka’s stocks closed up 2. 1 percent Friday becoming the best performing market in the world, up 110.9 percent so far according to Bloomberg newswires data, beating Mongolia at 109.7 percent. Bangladesh was a distant third at 56.4 percent. Colombo’s benchmark All Share Price Index closed at 7,147, topping […]
Sri Lanka president confirms 30 month jail for ex-army chief
September 30, 2010 (AFP) – Sri Lanka’s president has confirmed the 30-month jail term imposed on former army chief Sarath Fonseka following his conviction by a military court, an official said Thursday. He has said the government is seeking revenge for his decision to stand against the president and wants to keep him from speaking […]