All Blogs
Bank Outlook
Jan 27, 2012 (LBO) – Sri Lanka commercial bank loans may grow 25 percent in 2012 with more lending to small enterprises and retail customers as banks searched for better margins, Fitch Ratings Lanka said. Fitch said in report on Sri Lankan banks better risk management was needed especially for bank who are lending to […]
Sri Lanka production for tea bags up in 2011
Jan 27, 2012 (LBO) – Sri Lanka’s production of CTC (crush, tear, curl) type teas, used mainly in tea bags, rose sharply in 2011, although overall output was slightly lower than the record crop in 2010, brokers said. The Sri Lanka Tea Board said annual production for 2011 was 328.3 million kilos, about one percent […]
Sri Lanka Watawala Plantations December net down 39-pct
Jan 27, 2012 (LBO) – Sri Lanka’s Watawala Plantations said December 2011 quarter net profit fell 39 percent to 158 million rupees from a year ago, with a profit expected in the last quarter as well after losses earlier in the year. The company said that strong palm oil prices had helped cushion a fall […]
India, Pakistan closer to oil deal import from Turkmenistan
NEW DELHI, Jan 27 (Asia Pulse) – India and Pakistan are closer to agreeing on a transit fee and a joint strategy to develop gas fields and import the hydrocarbon via a pipeline from the Central Asian Republic of Turkmenistan, oil ministers of two countries said. The statements came during joint press conference by Indian […]
Sri Lanka Vallibel Power begins hydro electricity supply
Jan 27, 2012 (LBO) – Vallibel Power Erathna, a Sri Lankan mini-hydro power firm, said it has begun commercial operations at a new power plant. A stock exchange filing said the 4. 65 mega watt ‘Kiriwaneliya’ mini hydro power project of its subsidiary Country Energy has begun commercial operations. Country Energy, which has approvals for […]
Sri Lanka contracts to China queried by legislator
Jan 27, 2012 (LBO) – A series of construction contracts given to Chinese firms mostly with borrowed money from China which will have to re-paid by Sri Lanka, should have been awarded by open tender, a legislator has said. Harsha de Silva, a legislator representing Sri Lanka’s main opposition United National Party, said the commercial […]
Sri Lanka stocks recover losses
Jan 26, 2012 (LBO) – Sri Lanka’s stock closed up 0.65 percent Thursday recovering losses for the second day, with turnover rising, and index heavy John Keells Holdings reported higher profits for the quarter. The benchmark Colombo All Share Index rose 36 points to close at 5,592. 4 points and the Milanka Index of more […]
Sailor Boys
Jan 26, 2012 (LBO) – Sri Lanka will sign an agreement with Italy authorities allowing Sri Lankan certified seafarers to work on Italian flagged vessels, information minister Keheliya Rambukwelle said. A memorandum of understanding to be signed with the Italy’s maritime administration will recognize certificates of competency issued by Sri Lanka. Sri Lanka’s cabinet of […]
Online Payment
Jan 26, 2012 (LBO) – The Sri Lanka Ports Authority is to start trials of an electronic cargo payment system at Colombo port in a tie-up with state-owned Bank of Ceylon next week, officials said. Sri Lanka Ports Authority (SLPA) Chairman Priyath Wickrama said a lot of port activities were being converted to semi-automated systems […]
Parting Gift
Jan 26, 2012 (LBO) – Sri Lanka’s Aitken Spence group said it booked a gain of 630 million rupees by selling a 30 percent stake in a container terminal project to China Merchant Holdings International. Aitken Spence bid for the terminal project with China Merchants coming in as 55 percent partner, but it pulled out […]