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Sri Lankan stocks up 0.08 percent
July 06, 2012 (LBO) – Sri Lankan share prices snapped a four-day loosing streak to rise marginally by 0.08 percent on Friday, with activity centred around Central Finance PLC and few small cap stocks, brokers said. PC House Holdings, a computer peripheral company, slipped 50 cents to 13.40 rupees on 3.7 million shares, largely on […]
Price Cuts
July 06, 2012 (LBO) – India’s Bajaj Auto has cut prices for Sri Lanka between 5 to 14 percent after an excise duty hike in the island slashed sales, which was 17 percent of its total exports, a media report said. India’s Economic Times said Sri Lanka accounted for 5-7 percent of total sales and […]
Bank Upgrade
July 6, 2012 (LBO) – Sri Lanka’s state-run People’s Bank has been upgraded to ‘AA+(lka)’ from ‘AA(lka)’ on strengthening links with the state, while the ratings of its subsidiaries have also been upped. Subsidiaries People’s Leasing Company has been upgraded to ‘AA-(lka)’ from ‘A+(lka) and People’s Finance has been upgraded to ‘A(lka)’ from ‘A-(lka)’. People’s […]
Sri Lanka in final talks over India coal joint venture: official
July 6, 2012 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board is in the final stage of discussions with India’s National Thermal Power Corporation to build a 500 MegaWatt coal plant, an official said. “We are in final stage of discussion,” deputy chairman of Sri Lanka’s Ceylon Electricity Board Anura Senaka Wijayapala said. “We hope […]
Sri Lanka power utility losing Rs200mn a day: minister
July 06, 2012 (LBO) – Ceylon Electricity Board, Sri Lanka’s state-run power utility is losing 200 million rupees a day, and a ministerial committee is making proposals to fix the energy sector, power minister Champika Ranawaka said. Ministers John Seneviratne (an former power minister), A H M Fowzie (a former petroleum minister) Nimal Siripala de […]
’s Jayasuriya among top picks for premier league
July 06, 2012 (LBO) – Veteran Sri Lankan cricketer turned politician Sanath Jayasuriya, Rangana Herath and Thisara Perera were among the six local players to be valued at a maximum price of 35,000 dollars for the draft of the maiden Sri Lanka Premier League. Uva: Andrew McDonald — 35,000 dollars Umar Gul — 25,000 dollars […]
Sri Lanka expands diplomatic relations in Africa
July 05, 2012 (LBO) – Sri Lanka will start diplomatic relations with 15 African countries, cabinet spokesman Keheliya Rambukwella said. Diplomatic relations will be established with the Islamic Republic of Mauritania, Republic of Malawi, Burkina Faso, Republic of Chad, Republic of Djibouti, Central African Republic, Gabonese Republic, Republic of Cameroon, Republic of Cote d’lvoire, Republic […]
Sri Lankan stocks slip 0.44 percent
July 05, 2012 (LBO) – Sri Lankan shares ended 0.44 percent lower on Thursday, on volumes of 25.7 million shares, with turnover driven by Malaysia’s Dialog Axiata Plc, brokers said. Commercial Bank, one of the country’s most profitable lender, saw its non-voting stock rise 40 cents to 74.00 rupees on 366,265 shares. Elsewhere, Lanka Walltiles […]
Merchant Rating
July 05, 2012 (LBO) – RAM Ratings Lanka has confirmed an ‘AA-‘ domestic long term rating of Merchant Bank of Sri Lanka and ‘P1’ short term rating of the company and a proposed billion rupee commercial paper. The full statement RAM Ratings Lanka reaffirms MBSL’s ratings at AA-/P1 RAM Ratings Lanka has reaffirmed Merchant Bank […]
Sky Data
July 05, 2012 (LBO) –Sri Lankan firms engaging in large scale data operations could switch to storing information on remote centres over the internet, that could trim costs by up to 70 percent, IT officials said.