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Sri Lanka Hotel Sigiriya net up 24-pct
Oct 23, 2012 (LBO) – Profits are Hotel Sigiriya Plc, which is located in central Sri Lanka, rose 24 percent to 16.5 million rupees in the September 2012 quarter, from a year earlier, interim accounts showed. The firm reported earnings of 2.82 rupees for the quarter. In the six months to September the firm reported […]
Sri Lanka rates unchanged; private credit as envisaged: CB Governor
Oct 23, 2012 (LBO) – Sri Lanka has kept its key policy rate at which money is injected in to the banking system unchanged at 9.75 percent and private sector credit was slowing as expected, Central Bank Governor Nivard Cabraal said. The currency can also strengthen and reserves can be built up if the state […]
Sri Lanka betters Doing Business ranking
Oct 23, 2012 (LBO) – Sri Lanka has bettered its ranking to 81 from 89 in an ease of doing business ranking compiled by the World Bank and International Finance Corporation by computerizing key processes. In South Asia Maldives was ranked 95, Pakistan 107, Nepal 108, Bangladesh 129, India 132, Bhutan 138 and Afghanistan 168. […]
Sri Lanka stocks closed down 1.69 pct
October 22, 2012 (LBO) – Sri Lanka stocks closed down 1.69 percent Monday with most blue-chips trading at lower prices. The Colombo All Share Index closed at 5,553.89 down 95.64 points and the S & P SL 20 Index closed 31.96 points lower at 3010.02 down 1.05 percent. Turnover dipped to a two month low […]
Micro Rating
Oct 22, 2012 (LBO) – Fitch Ratings has lifted the outlook of Sri Lanka’s ‘BB+(lka)’ rated Sanasa Development Bank, a micro lender, to positive from stable, on improving asset quality ad better margins. “The revision of the Outlook reflects SDB’s improved credit metrics, which are now more in line with those of higher-rated peers,” Fitch […]
Soft Eye
Oct 22, 2012 (LBO) – Software developed by Sri Lanka based MilleniumIT, will be used by the London Metal Exchange (LME) for its real time multi-asset class surveillance system, the unit of the London Stock Exchange Group said. “We are very happy that the London Metal Exchange has chosen Millennium Surveillance as its new surveillance […]
‘s ground water fees
Oct 22, 2012 (LBO) – Protests are starting against the announcement that everyone pulling ground water will have to obtain a license. The sad thing is that there are no public-interest or environmental groups speaking up for the critically important ground-water layer that regulating ground water will help conserve. It is not that evidence is […]
Sri Lanka parliament has little control over finances: legislator
Oct 22, 2012 (LBO) – Sri Lanka’s parliament has no real control over public finances with the arm of the government not even having a budget committee, though the country’s constitution says otherwise, a legislator said. But in countries where liberal thought is not valued, and where nationalism and interventionism prevails, parliamentary sovereignty can lead […]
‘s roots
PARIS, Oct 20, 2012 (AFP) – It can be green, black, white or red and, after water, is the most widely consumed drink on the planet. Like a wine sommelier, she speaks of “the spirit of tea”, its tastes, its odours — up to 600 in a single tea. She conducts a meticulous ritual to […]
Sri Lanka can up exports by moving to complex products: economist
Oct 20, 2012 (LBO) – Sri Lanka can increase exports and incomes by creating conditions to allow producers to move in to more complex products based on knowledge and research, a top economist said. By moving to complex products through innovation, a country could stop worrying about competition from Bangladesh or Vietnam, he said. Sri […]