All Blogs
Sri Lanka stocks close up 0.2-pct
July 01, 2013 (LBO) – Sri Lanka’s stocks closed up 0.19 percent on Monday continuing its upward trend with diversified and consumer companies showing gains, brokers said. The benchmark Colombo All Share Index closed 11.74 points higher at 6,132.75 and the S&P SL 20 Index closed 16.00 points higher at 3,447.74 up 0.47 percent. Turnover […]
Cargo Service
July 01, 2013 (LBO) – Sri Lanka’s Hemas group, which has interests in consumer goods, leisure power and logistics said it has started building a container yard and warehouse in Welisara, north of the capital Colombo.It will handle and store empty and laden containers. The firm will also provide warehousing facilities to exporters, mainly aimed […]
White Knight
July 01, 2013 (LBO) – Sri Lanka’s Central Bank said People’s Leasing and Finance Plc, the island’s largest non-bank lender has been appointed managing agent for Central Investments and Finance Plc, which had seen liquidity issues.. “The Managing Agent will be expected to improve the financial status of CIFL within a reasonable period of time, […]
Settlement
July 1, 2013 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation had settled a claim over an oil derivative for 60 million US dollars, a media report said.State-run CPC refused to pay on a complex options position which went against it after oil prices collapsed in later 2008 as the US monetary system de-leveraged, amid […]
Sri Lanka to farm Asian sea bass
July 01, 2013 (LBO) – Sri Lanka has approved a 2.5 million US dollar project to farm Barramundi or Asian Sea Bass off the coast of Trincomalee in North Eastern Sri Lanka, the state investment promotion agency said. Oceanpick, a Sri Lankan firm will partner with a Scottish firm to farm the fish in cages, […]
Sri Lanka to count sloth bears
July 01, 2013 (LBO) – Sri Lanka’s wild life conservation authorities and a biodiversity organization, with funding from private business will count and estimate a sloth bear population in a national park in the North West of the island.The chamber said in a statement that the sloth bear sighting have declined in recent years and […]
Sri Lanka and Seychelles ink air services, defence pacts
July 01, 2013 (LBO) – Sri Lanka and Seychelles have bilateral pacts on defence co-operation and air services following a visit to the island by President Mahinda Rajapaksa, his office in Colombo said.Sri Lanka’s state-run Bank of Ceylon will open a branch in the Seychelles and the air services deal paves the way for the […]
Sri Lanka businesses looks for ways to cut power use
July 01, 2013 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it is holding an expert forum for businesses looking for ways to cut power use after a recent hike. “The recent escalation in electricity tariffs was estimated to increase the electricity bills of most industrial, hotel and commercial enterprises by about 20 30 […]
Is the Chinese model replicable?
July 01, 2013 (LBO) Three days in Shanghai is surely not enough to understand what makes China tick. But as I sit in the new Pudong International Airport looking across the runway at the big cargo ships on the adjacent Yangtze River head out to sea or into port, I sort of get the value […]
Sri Lanka urban inflation index up 7.1-pct in June
July 01, 2013 (LBO) – Sri Lanka’s consumer prices rose 7.1 percent in the 12-month to June 2013 from a year earlier, slowing from 9.6 percent in May, an index compiled by a private research house showed.The CAL Urban Index, fell 1.3 percent absolutely during the month, CAL Research, a unit of Sri Lanka’s Capital […]