Tag: Sri Lanka
Sri Lankan private pension funds encouraged to enter equities: SEC chairman
Apr 02, 2010 (LBO) – Pensions funds operated by private firms would be encouraged to invest more in the stock market and legal hurdles that prevented them would be cleared, Sri Lanka’s capital market regulator said. Sri Lanka state managed EPF has been investing heavily in the equity market in recent weeks as long-standing foreign […]
Sri Lanka govt rules out more protection, subsidies for business
Apr 02, 2010 (LBO) – The Sri Lankan government cannot give more protection and subsidies for local and export businesses who must instead be more productive and innovative, Treasury Secretary P B Jayasundera said. He told the National Chamber of Exporters the government has delivered peace by ending the Tamil Tiger war and begun building […]
Sri Lanka president visits Tamil heartland
JAFFNA, April 1, 2010 (AFP) – Sri Lanka’s President Mahinda Rajapakse reached out on Thursday to the country’s ethnic minority Tamils as he made his first visit to their cultural heartland since his re-election. Rajapakse, on a trip to battle-scarred Jaffna, the former stronghold of separatist Tamil rebels in the island’s north, promised to work […]
Sri Lanka inflation slows to 6.3-pct in March
Mar 31, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 6.3 percent in March 2010 from a year earlier, down from 6.9 percent in February with the index falling 1. 0 percent in the month, the government’s statistics office said. In the month of March the Colombo consumer price index fell 1.0 […]
Sri Lanka rating agency takes ex-central banker on board
Mar 31, 2010 (LBO) – Sri Lanka’ RAM Ratings said it had appointed Priyanthi Liyanage, a former central banker to its board as an independent director. She is a qualified banker with service at the Bank of Ceylon and also in the Sri Lanka Administrative Service. Liyanage has 37 years’ experience in the state sector […]
Sri Lanka Combank shareholder meet canned over quorum
Mar 30, 2010 (LBO) – Sri Lanka’s listed Commercial Bank’s an annual general meeting of shareholders had not been held Tuesday due to the lack of a quorum, the Colombo Stock Exchange said. The meeting has been postponed to April 06. The shares due to be quoted ex-dividend from yesterday.
‘s ex-army chief could die in custody: wife
March 29, 2010 (AFP) – The wife of Sri Lanka’s detained ex-army chief Monday accused authorities of preventing her husband from receiving vital medical treatment and said he could die in custody. Sarath Fonseka’s health had deteriorated since he was held at the naval headquarters in Colombo after his arrest on February 8 and was […]
Sri Lankans among failed Australia asylum seekers moved for security
SYDNEY, March 28, 2010 (AFP) – Australia said Sunday it had transferred 89 asylum seekers from a remote processing island to the mainland for security reasons after they failed to secure refugee status. The men from Sri Lanka, Afghanistan, Iraq and Iran had been held on the Indian Ocean outpost of Christmas Island but were […]
Sri Lanka economy grew 3.5-pct in 2009: statistics office
Mar 27, 2010 (LBO) – Sri Lanka’s economy grew 3.5 percent in 2009 pushed by growth in all three major sectors of economic activity, agriculture, industry and services, the Department of Census & Statistics (DCS) said in a statement. The Gross Domestic Product (GDP) growth was much slower than the six percent achieved in 2008, […]
Sri Lanka and Vietnam can build stronger economic links: envoy
HANOI, Mar 27, 2010 (LBO) – Sri Lankan businesses have opportunities to get into the service sector in fast growing Vietnam while benefiting from Vietnamese agricultural technology and trade, the island’s envoy to Hanoi said. The Sri Lanka mission here and Vietnamese authorities and business chambers are putting together a trade delegation to visit the […]
Sri Lanka gets foreign loans for tourism, roads
Mar 26, 2010 (LBO) – The World Bank has approved a loan of 18 million US dollars to Sri Lanka to develop sustainable tourism, international trade minister Gamini Peiris said. “These funds are to be used for infrastructure development,” Peiris said. “This is a matter of high priority for Sri Lanka now,” he told a […]
Sri Lanka businesses told: be prepared, watch warning signs
Mar 24, 2010 (LBO) – Sri Lankan businesses should be prepared for economic downturns and watch for warning signs from other economies to avoid being hurt during crises, Central Bank governor Nivard Cabraal said. “The first lesson is, strengthen yourself in good times,” he said, recalling how the central bank prepared to face the global […]