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Maldives and US in military exercises
Oct 05, 2012 (LBO) – Maldives an Indian Ocean tourist paradise and the US are conducting joint military exercises to boost military interoperability between the forces of two countries and skills training, the US embassy in Colombo said. The participating U.S. units are mainly from I Marine Expeditionary Force, based in Camp Pendleton, California, with […]
Sri Lanka inflows to hydro power plants lowest in 20-years
Oct 05, 2012 (LBO) – Water inflows to Sri Lanka’s hydro power plants up to September 2012 was the lowest in 20-years and much lower than a year earlier which was also a drought year, the island’s power ministry said. “We are not cutting power like in India,” the minister was quoted as saying. “That […]
Sri Lanka stocks closed down 0.50 pct
October 04, 2012 (LBO) – Sri Lanka stocks closed down 0.50 percent Thursday continuing a three day losing streak. The Colombo All Share Index closed at 5,861.35 down 29.34 points and the S & P SL 20 Index closed 12.06 points lower at 3,177.88 down 12.06 percent. Turnover was 565 million rupees. Top contributors to […]
Sri Lanka drought dries up tea company cash flows
Oct 04, 2012 (LBO) – A severe drought has damaged tea plants in key Sri Lankan growing regions causing crop losses and cash flow problems for some plantations companies already grappling with high production costs. A statement from the Planters’ Association, which represents listed plantation companies, said some factories had been forced to close owing […]
Health Investment
Oct 04, 2012 (LBO) – Actis Investment Holding SL Limited, said it had invested 2.26 billion rupees through a private placement of shares in Sri Lanka’s Asiri Hospital Holdings Plc, a Colombo listed company. Sri Lanka’s Colombo Stock Exchange the stock has been listed from October 03. Actis said the investment, which was 19. 09 […]
‘s ITC
Oct 04, 2012 (LBO) – India’s ITC Limited will build a 140 million US dollar mixed development including a hotel, shopping mall and apartments in Sri Lanka’s capital Colombo, minister Keheliya Rambukwelle said. ITC has been given state land in Colombo’s ‘Galle Face’ beachfront. Though earlier reports said ITC may operate a ‘Sheraton’ branded hotel […]
Sri Lanka to build high rises for shanty-dwellers
Oct 04, 2012 (LBO) – Sri Lanka’s urban agency will be given state land in 15 locations to build high rise apartments for people living in underserved settlements in the capital Colombo, cabinet spokesman minister Keheliya Rambukwelle said. The agency has already awarded contracts to build 9,781 housing unit in 11 locations in Colombo which […]
Iran heading for hyperinflation: Steve Hanke
Oct 04, 2012 (LBO) – Iran is heading for hyperinflation with a collapsing Riyal driving up prices above a 50 percent a month threshold, as US led economic sanctions hurt state revenues, a top monetary economist has said. Hanke says the black market and official exchange rates began to diverge after July 2010 when President […]
Sri Lanka Treasuries yield plunge at auction
Oct 03, 2012 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the 12-month yield falling the most by 54 basis points to 12. 48 percent, data released by the state debt office showed. The state offered 10 billion rupees in maturing debt and accepted 13.0 billion rupees from the market. […]
”’ by RAM
Oct 03, 2012 (LBO) – RAM Ratings has given a ‘BBB+’ long term rating with a stable outlook to First Capital Holdings, an investment company with interests securities dealing, margin trading and portfolio management. First Capital Holdings’ 500 million rupees worth unsecured commercial paper had been give a ‘P2’ rating. RAM Rating said the firm […]