All Blogs
Sri Lanka top court rules parts of budget bill unconstitutional
Nov 07, 2012 (LBO) – Sri Lanka’s Supreme Court has ruled that sections of an appropriation bill for 2013 which lays the basic outline for a budget for next year is unconstitutional. The ruling was read out as the administration launched an impeachment process against Sri Lanka’s chief justice. The Supreme Court also ruled against […]
Sri Lanka Bank of Ceylon to sell 16-pct 5-year bonds
Nov 06, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon is offering 5-year bonds with a fixed rate of up to 16.0 percent a year and a floating rate based on a premium to the six month Treasury bill yield, an offer document said. The securities have been rated AA(lka) by Fitch, a notch […]
Sri Lanka stocks close 0.31 pct higher
November 06, 2012 (LBO) – Sri Lanka stocks closed 0.31 percent higher Tuesday on the back of gains by John Keells Holdings. The Colombo All Share Index closed 17.28 points higher at 5,556.59 up 0.31 percent and the S & P SL 20 Index closed 7.23 points higher at 3012.98 up 0.24 percent. The day’s […]
Fashion Trend
Nov 06, 2012 (LBO) – Sri Lanka’s Odel Plc, a 44 percent owned by Parkson Retail Asia said profits fell 15 percent to 104 million rupees, from a year earlier as a higher interest bill hit the bottom line though revenues continued to grow. The fashion retailer reported earnings of 72 cents per share for […]
Heist Fine
COLOMBO, Nov 5, 2012 (AFP) – A Chinese man who swallowed a fake stone in a daring bluff that allowed an accomplice to get away with a real diamond pleaded guilty Monday to aiding theft and was given a fine and two-year suspended jail term. Colombo chief magistrate Rashmi Singappuli ordered the 32-year-old man to […]
‘s begging wild elephants: making it safer for man and animal
Nov 06, 2012 (LBO) – Feeding of begging wild elephants in Sri Lanka’s Udawalawe National Park, can be made safer for both man and animal if it is formalized as a supervised process, where fees are charged, a wildlife enthusiast has suggested. S M S Senadhipathi, a wildlife enthusiast says though elephants lining up for […]
Sri Lanka knitted fabric maker cuts losses
Nov 06, 2012 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, knitted fabric marker said it has cut losses and improved gross margins after going through a restructuring process over the past year. The firm which files US dollar denominated accounts and statements translated into rupees, lost 43 million rupees in the September 2012 […]
Sri Lanka hydro capacity up to 58-pct – Update
Nov 06, 2012 (LBO) – Storage at Sri Lanka’s reservoirs have risen to 58 percent of capacity or enough to generate 738 million units of electricity during the first week of November from 22 percent a month earlier, official data shows. On November 04, state-run Ceylon Electricity Board generated 61.4 percent of the daily energy […]
‘ group raises budget issues, calls for better debate
Nov 06, 2012 (LBO) – Friday Forum, a Sri Lankan citizens group has asked for informed debate on the budget by parliamentarians instead of a slanging match, and has asked the administration to prioritize expenses and pay attention to a growing debt burden. The full statement is reproduced below: A PLEA FOR A BIPARTISAN BUDGET […]
Sri Lanka DFCC Bank net up 54-pct in Sept
Nov 05, 2012 (LBO) – Sri Lanka’s DFCC Bank said group profits rose 55 percent to 819 million rupees in the September 2012 quarter from a year earlier, and its commercial banking unit hit regulatory ceiling on credit growth. DFCC group performing loans grew 7.5 percent to 90.9 billion rupees from March, but chief executive […]