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New Chief
May 07, 2013 (LBO) – HSBC Sri Lanka said Patrick Gallagher has taken over as chief executive of HSBC Sri Lanka and Maldives. He succeeds Nick A Nicolaou, who has retired after more than 35 years with the HSBC group. Gallagher has joined the HSBC Group in 1989 and has worked in Bahrain, Hong Kong, […]
Sri Lanka tourist arrivals up 7.7-pct in March, Indian arrivals plunge
May 07, 2013 (LBO) – Sri Lanka’s tourist arrivals rose 7.7 percent to 98,155 in March 2013 with strong growth from key Western markets and China, but arrivals from India plunged, official data shows.In the first two months of the year arrivals were up 10.9 percent to 288,798. Arrivals from Western Europe, a key generating […]
Sri Lanka replants damaged coral
May 07, 2013 (LBO) – Sri Lanka’s Commercial Bank said it is helping wildlife authorities replant coral in a marine park in the South West of the island which has been damaged over the last 15 years. Sri Lanka’s Department of Wildlife plans to replant 1,000 square feet of coral in Wadduwa which is part […]
Sri Lanka stocks surge 1.8-pct
Apr 29, 2013 (LBO) – Sri Lanka’s stock surged up 1.8 percent Monday adding 40 billion rupees to stock values partly helped improved sentiment from a 2.9 billion rupee ceramic sector acquisition, brokers said. Commercial Leasing and Finance gained 0.30 rupees to close at 4.90 rupees The stock exchange said top contributors to the index […]
PPP
May 06, 2013 (LBO) –Sri Lanka is seeking private investments to build an expressway and port related services as the government gears to develop the next raft of infrastructure projects, officials said. “Public private partnership, is high on the government’s agenda,” Ranjith Pemasiri, Ports and highways ministry secretary told a ports and logistics forum in […]
‘s Textured Jersey net up 47-pct
May 06, 2013 (LBO) – Sri Lanka’s Textured Jersey Limited, a knit fabric maker, said net profits for the March 2013 quarter rose 47 percent to 321 million rupees, helped by tighter cost controls and net finance income. “Looking towards the future, TJL continues to carry a strong order book with new product lines and […]
Electricity tariff 2013: Forward or backward step for regulation
May 06, 2013 (LBO) – In early March 2013, the Public Utilities Commission of Sri Lanka (PUCSL) announced a public consultation as part of its decision making on the 2013 tariff submitted by the government-owned, integrated electricity company, the Ceylon Electricity Board (CEB). The tariffs, once approved, were said to come into force in April […]
Sri Lanka forex reserves ease to US$6.67bn in Feb
May 05, 2013 (LBO) – Sri Lanka’s forex reserves fell 185 million US dollars to 6.659 billion US dollars in February 2013 from a month earlier, and was down 3.1 percent from the beginning of the year, official data showed. The IMF has said Sri Lanka’s reserves have generally been stable. “We don’t think there […]
SriLankan Airlines says online bookings faster, safer with new gateway
May 05, 2013 (LBO) – State-run SriLankan Airilines said it had signed up Wirecard, a German payment gateway operator which will make online bookings faster and safer, as part of moves to join oneoworld, a global alliance of carriers. Wirecard provides payment processing, card issuing and risk management services to more than 10,000 companies worldwide. […]
” final rating: Fitch
May 4, 2013 (LBO) – Fitch Ratings said it had given a final rating of ‘A(lka)’ to a 1.5 billion rupee tranche of fixed interest rate unsecured debentures to which it had previously given an expected rating. “The issue proceeds are to be used to lengthen the maturity profile of existing debt, thereby improving Singer’s […]