All Blogs
Sri Lanka stocks end down 0.2-pct
Dec 15, 2011 (LBO) – Sri Lankan stocks ended weaker Thursday with some deals seen in companies seen to have strong fundamentals although turnover remained thin, brokers said. The main All Share Price Index fell 0.16 percent (9.67 points) to 5,941.32, while the more liquid Milanka index fell 0.72 percent (37.48 points) to close at […]
Sri Lanka to examine shortcomings in crate law
Dec 15, 2011 (LBO) – Sri Lanka will go ahead with a new law requiring transport of fruits and vegetables in plastic crates but would look into any shortcomings after protests by farmers and traders led to shortages in the capital. “We’re not changing the policy,” declared Keheliya Rambukwella, media minister and spokesman for the […]
Sri Lanka insurers stable but claims up, lower investment income: Fitch
Dec 15, 2011 (LBO) – Sri Lanka’s insurers are well capitalized and profitable but investment income is falling and areas such as motor are seeing rising claims amid price competition, Fitch, a rating agency has said. “As such, underwriting profitability remains under pressure with many companies posting combined ratios above 100 percent, and having to […]
Sri Lanka exporters should reclaim duty before April 18: US
Dec 15, 2011 (LBO) – Sri Lanka’s exporters should claim refunds under a resumed generalized system of preferences (GSP) tariff relief scheme before April 18, 2011, the US embassy said. The US GSP scheme expired on Jan 01, 2011 but was retroactively renewed from November 04, 2011. Duties paid during the period could be claimed […]
Sri Lanka to do health checks for resident visa
Dec 15, 2011 (LBO) – Sri Lanka has decided to do health checks on applicants for resident visas to the island, media minister Keheliya Rambukwella said. The cabinet of ministers has decided to conduct a health assessment for the resident visa applicants to Sri Lanka, he told a news conference. A statement said a large […]
Sri Lanka 3-month Treasuries up, other bids rejected
Dec 14, 2011 (LBO) – Sri Lanka’s 3-month Treasuries yield increased 15 basis points to 8.43 percent at Wednesday’s auction while the state debt office rejected bids for other maturities. The state offered 10 billion rupees of bills for re-issue and accepted only 4. 7 billion rupees of bids. Six and 12-month bids were rejected. […]
Sri Lanka stocks close 0.7-pct
Dec 14, 2011 (LBO) – Sri Lanka’s stocks closed 0. 7 percent Wednesday amid thin trading while bond yields edged up, dealers and brokers said. Colombo’s benchmark All Share Index fell 43.6 points to 5,950.99 points and the Milanka Index of more liquid stocks fell 39.2 points to 5,228.4 points or 0.75 percent. Asha Central […]
Highway Access
Dec 14, 2011 (LBO) – Sri Lanka has got Asian Development Bank aid to upgrade six access roads linking the newly opened southern expressway with the rest of the island’s road network, an ADB statement said. The ADB will give a loan of 85 million US dollars (about 9,347 million rupees) for the project to […]
Port Pursuit
Dec 14, 2011 (LBO) – An Indian conglomerate is keen to acquire a stake in ports in Sri Lanka given its location and growth potential, an investment advisor from PricewaterhouseCoopers India told an investor forum in Colombo. Rapid infrastructure modernisation will be critical to achieve high levels of economic growth, he told the forum. Much […]
Tele Buy
Dec 14, 2011 (LBO) – Sri Lanka’s Dialog Axiata, said it will buy Suntel, a fixed access unit of Sweden’s Overseas Telecom AB for a little over 34 million US dollars to expand its fixed wireless business. Dialog Broadband had posted revenues of 1. 8 billion rupees for the nine months ending September 2011. Suntel, […]