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Sri Lanka halts power cuts
Sept 06, 2012 (LBO) – Sri Lanka has halted daily power cuts that came into effect last month after a coal fired power plant that was crucial to the system broke down, until further notice, the ministry of power and energy said. Data from the Ceylon Electricity Board shows about 25 percent of the energy […]
US keen to boost investment, trade with Sri Lanka
Sept 07, 2012 (LBO) – Sri Lanka’s largest trading partner, the United States is keen to boost investment in the island and attract more Sri Lankan exports, the American chamber of commerce in Sri Lanka (AMCHAM) said. “The US has expressed its desire to increase more FDI (foreign direct investment) flows to Sri Lanka and […]
Sri Lanka and South Africa in moves to expand trade links
Sept 07, 2012 (LBO) – Sri Lanka and South Africa has potential to further increase trade links, deputy economic development ministry Lakshman Yapa Abeywardene told a business forum attended by a visiting business delegation. He said South Africa belonged to the so-called BRICS group of countries with Brazil, India and China which together now accounted […]
Sri Lanka stocks close up 0.3-pct
Sept 06, 2012 (LBO) – Sri Lanka stocks closed up for the eighth straight trading session gaining 0.3 percent helped a steep rise in Commercial Leasing and Finance Company boosting the index, brokers said. Asiri Surgical rose 20 cents to close at 8.30 rupees, Bogowantalawa Tea Estates closed up 80 cents at 16.70 rupees. John […]
Business Services
Sept 06, 2012 (LBO) – SREI Infrastructure Finance Ltd of India has tied up with Arinma Holdings (Pvt) Ltd, a Colombo based firm to explore infrastructure opportunities in Sri Lanka as the island emerges from a 30-year civil war. The collaboration is targeting opportunities in advisory, equipment rental for the construction and healthcare sectors, and […]
Not Firms
Sept 06, 2012 (LBO) – Sri Lanka’s Securities and Exchange Commission said there were no investigations into companies themselves that were named in recent media reports as being probed by the regulator in relation pump and dump frauds. “The SEC wishes to categorically mention that there are no ongoing or pending investigations at present in […]
Sri Lanka Vietnam trade up 51-pct in first six months: envoy
Sept 06, 2012 (LBO) – Two way trade between Sri Lanka and Vietnam reached 64 million US dollars in the first six months of the year, up 51 percent from a year earlier, Hanoi’s envoy to Colombo Ton Sinh Thanh said. “It is estimated that in the first nine months, the total trade between the […]
Sri Lanka business forum on Mekong area opportunities on Sept 20
Sept 06, 2012 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it is holding a business forum with the participation of the World Bank’s International Finance Corporation is to discuss opportunities in the Greater Mekong region in South East Asia. Dorabawila will speak on ‘South-South Business Development and Investment for Sri Lanka: Opportunities and […]
Sri Lanka Treasury bill yields up
Sept 05, 2012 (LBO) – Sri Lanka’s Treasury bill yields edged up slightly across maturities at Wednesday’s auction with the 12 month yield gaining 05 basis points to 13.36 percent, data released by the state debt office showed. The 6-month yield also rose 05 basis point to 13.12 percent and the 3-month yield rose 03 […]
Sri Lanka apparel exports buoyed by US demand
Sept 05, 2012 (LBO) – Brandix, a top Sri Lankan apparel exporter has seen strong demand from the US helping offset a slump in Europe demand helping keep revenue growth in positive territory, an official said. Sri Lanka’s apparel exports fell 1.6 percent to 1.98 billion rupees in the first six months of 2012, with […]