Offbeat

Beer becomes Bank of England’s new tipple of choice

AFP

Saturday November 15, 2014 12:00 am

By AFP

Saturday November 15, 2014 12:00 am

LONDON, Nov 14, 2014 (AFP) – The Bank of England is cutting down on wine and has started serving beer instead since Canadian Mark Carney took over as governor last year with a promise to sweep away the cobwebs, the bank said on Friday.

An unusual bank data release showed the City institution had bought 648 bottles of beer for official functions so far this year for £758.16 (954 euros, $1,187) — up from just 24 bottles in 2013.

But the bank said it was cutting down on supplies of wine and champagne in another sign of the times after the decline of bubbly-fuelled partying in the City in the wake of the global financial crisis.

A total of 180 wine bottles including champagne have been purchased this year for an average of £9.95 each, compared to 756 bottles in 2013.

"There has been a change in that we are now serving beer at various functions, in addition to other beverages. Hence the reason for the increase in beer purchased for 2014," a central bank spokesman said.

Carney gave up another time-honoured Bank of England tradition earlier this year when he announced that cricket would be abandoned in favour of rounders as part of the bank’s annual sports day.

The 49-year-old former Bank of Canada governor was the first non-Briton to be appointed head of the Bank of England since it was founded in the 17th century.

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Bonds & Forex

Sri Lanka rupee closes stronger at 327.40/90 to the US dollar

Tuesday December 5, 2023 4:44 pm

ECONOMYNEXT – Sri Lanka’s rupee closed at 327.40/90 to the US dollar on Tuesday, from 328.10/30 the previous day, dealers said.

Bond yields were stable.

A bond maturing on 01.06.2025 closed at 13.60/70 percent from 13.70/14.00 percent.

A bond maturing on 01.08.2026 closed at 13.90/14.00 percent from 13.90/14.10 percent.

A bond maturing on 15.01.2027 closed at 14.00/15 percent from 14.00/14.10 percent.

A bond maturing on 01.07.2028 closed at 14.10/20 percent from 14.20/35 percent.

A bond maturing on 15.05.2030 closed at 14.20/35 percent, from 14.25/45 percent.

A bond maturing on 01.07.2032 closed at 14.10/35 percent, from 14.05/40 percent. (Colombo/Dec5/2023)

Markets

Sri Lanka stocks close down as investor sentiment dips

Tuesday December 5, 2023 4:40 pm

ECONOMYNEXT – The Colombo Stock Exchange closed down on Tuesday, CSE data showed.

The All Share Price Index was down 0.40 percent, or 43.50 points, at 10,700.09.

The S&P SL20 index was up 0.43 percent, or 13.32 points, at 3,054.41.

Turnover was at 711 million. The capital goods sector contributed 172 million, the food, beverage and tobacco sector contributed 140 million, and banks 113 million of this.

Top positive contributors to the ASPI in the day were John Keells Holdings Plc (up at 193.00), Richard Pieris And Company Plc (up at 19.80), and Nation Lanka Finance Plc, (up at 0.40).

Negative contributors were Commercial Bank of Ceylon Plc (down at 89.70), Sampath Bank Plc (down at 71.00), and Central Finance Company Plc, (down at 106.00). (Colombo/Dec5/2023).

Education

Sri Lanka plans to reduce number of school grades from 13 to 12

Tuesday December 5, 2023 4:13 pm

ECONOMYNEXT – The Ministry of Education proposes to reduce the number of school grades from 13 to 12, according to a government information department statement.

“Every child will be given the opportunity to finish school in 17 years through the proposed new education reforms,” education officials were quoted as saying after a discussion on budget allocations.

Under the proposed system, pre-school education will be at the age of 4 years, the primary section between grades 1-5, junior section between grades 6-8, and senior section between grades 9-12.

The General Certificate of Education Ordinary Level Exam (GCE O/L) is proposed to be conducted in grade 10, and the Advanced Level Examination in grade 12.

It has also been decided to reduce the number of mandatory subjects at the GCE O/L Exam from 9 to 7.

Three new subjects, information and communication technology (ICT), technical and professional skills, and religion and values will be made mandatory and included in those 7 subjects. (Colombo/Dec5/2023)