All Blogs
Sri Lanka sexes up image for tea
KANDANA, Sri Lanka,(AFP) – A hot cup of Ceylon tea is better known as being soothing and relaxing, but Sri Lanka is now marketing its most profitable export as a luxury boost for the libido.The tea industry is increasingly plugging Ceylon’s supposed aphrodisiac qualities in a bid to radically change perceptions of the brew, which […]
Tele Stability
May 16, 2013 (LBO) – Mobitel, a unit of Sri Lanka Telecom has made a profit of 640 million rupees in the March 2013 quarter, turning around from a loss of 950 million rupees, a year earlier, its parent said.Losses last year came from currency depreciation, the firm said. Revenues had grown 10 percent to […]
Sri Lanka exports to India surge after free trade agreement
May 16, 2013 (LBO) – Sri Lanka’s exports to India have surged under a free trade deal, growing six fold, with the number of items going up four fold to 2,100 but most of the imports to the island take place outside the agreement, economists said.“On average 70 percent of Sri Lanka’s exports to India […]
Indian cricketer Sreesanth held for spot-fixing
NEW DELHI, May 16, 2013 (AFP) – Indian cricket authorities on Thursday suspended three players, including Test paceman Shanthakumaran Sreesanth, after they were arrested for alleged spot-fixing during the Indian Premier League.Uncapped bowlers Ankeet Chavan and Ajit Chandila were the other hermes bags two players suspended from the ongoing domestic Twenty20 competition. “The three players… […]
‘s Treasuries yields plunge
May 15, 2013 (LBO) – Sri Lanka’s Treasuries yields plunged as much as 45 basis points at the first bill auction following a 50 basis point rate cut last week, data from the state debt office showed. The 3-month yield fell 43 basis points to 8.75 percent, the 6-month yield fell 29 basis points to […]
Sri Lanka stocks close up 0.2-pct
May 15, 2013 (LBO) – Sri Lanka’s stock closed up 0.23 percent on Wednesday, ending a two days of losses, with sentiment helped by falling Treasuries yields amid strong foreign buying into motor stocks, brokers said. The benchmark Colombo All Share Index closed 14.53 points higher at 6,221.12 up 0.23 percent and the S&P SL […]
Toot
May 15, 2013 (LBO) – Trains have begun operating on the segment of a 252 kilometre railway track system in Sri Lanka’s north rebuilt with Indian aid which was destroyed 23 years ago during the island’s separatist conflict.The rebuilt track from Madawachchiya to Madhu Road on a track leading to Talaimnnar in the northeast was […]
Positive Numbers
May 15, 2013 (LBO) – Profits at Sri Lanka’s Nations Trust Bank rose 15 percent to 501 million rupees in the March 2013 quarter helped by fee and fund based income, interim accounts show.The bank reported earnings of 2.18 rupees per share. NTB group’s interest income rose 35 percent to 4.35 billion rupees and interest […]
CapitalGains
May 15, 2013 (LBO) – Profits at Sri Lanka’s NDB group fell 53 percent to 499 million rupees in the March 2013 quarter, from a year earlier, on higher operating expenses and provisioning as interest costs rose, interim accounts showed.The group reported earnings 3.09 rupees per share. Interest income rose 34 percent to 4.9 billion […]
‘s Crown applies to invest in Sri Lanka: minister
May 15, 2013 (LBO) – Melbourne based Crown group has submitted an investment application to Sri Lanka which is pending approval, investment promotion minister Lakshman Abeywardena said.. Crown, an entertainment and gaming group has been planning a 350 million US dollar mixed development in Sri Lanka’s capital Colombo, according to reports. Sri Lanka has also […]