All Blogs
Buyers from Sri Lanka, India, China eye lakefront land
Aug 13, 2011 (LBO) – Prime land facing a lake in Sri Lanka’s capital Colombo is being eyed by buyers from India, China as well as large local business groups that want to take part in a lakefront promenade development, an official said. A 30-year war ended in 2009 and Sri Lanka is looking forward […]
Sri Lanka stocks rebound one percent
Aug 12, 2011 (LBO) – Sri Lankan stocks rebounded one percent Friday, with an active retail and high net worth market players participation and a large acquisition boosting turnover, brokers said. Asian Alliance closed at 134.00 rupees up 12.20 rupees and over 27.58 million shares were changing hands generating 3.31 billion rupees. High net worth […]
Pole Position
Aug 11, 2011 (LBO) – Sri Lanka’s brand new automobile market is dominated by India’s Maruti and Toyota is leading the re-conditioned or imported used car segment, an analysis by J B Securities, a stock brokering firm, shows. Maruti/Suzuki sold 1,373 cars in July 2011, and on average sold more than 1,100 units each month […]
Combank
Aug 12, 2011 (LBO) – Sri Lanka’s Commercial Bank of Ceylon’s net profits in the June 2011 quarter rose 63.8 percent to 1.97 billion rupees, amid strong credit growth and containment of interest expenses, interim accounts show. The group reported earnings of 5. 17 rupees per share for the quarter. For the six months it […]
Health Expansion
Aug 12, 2011 (LBO) – Sri Lanka’s Hemas group is expanding its healthcare business with land bought in Battaramulla to build a new hospital near the island’s capital, group chief executive Husein Esufally said. “An expansion plan to add two more hospitals to the chain is well underway and we have been successful in securing […]
Tablet Wars
SAN FRANCISCO, August 12, 2011 (AFP) – US technology giant Hewlett-Packard (HP) on Thursday cut the price of its freshly-launched TouchPad tablet computers in a bid to gain traction in a market dominated by Apple’s iPad. TouchPads with 16 gigabytes of memory were offered on the HP website for $400 and models with 32 gigabytes […]
‘s elephant census begins despite boycott
MINNERIYA, August 12, 2011 (AFP) – Thousands of workers, soldiers and volunteers fanned out across Sri Lanka on Friday to begin the country’s first national elephant survey despite a boycott by some wildlife groups. Hundreds of conservationists decided not to take part because of fears prompted by comments from a minister that the survey will […]
‘s Religare expands into Africa
Aug 11, 2011 (LBO) – India’s Religare Capital Market Limited (RCML) said a recent purchase of South Africa’s Noah Financial Innovation will be a base for further expansion in to the region. RCML chief executive Martin Newson says the South African acquisition is part of its emerging markets investment banking operations, “both in its own […]
Sri Lanka Softlogic buys insurer
Aug 12, 2011 (LBO) – Sri Lanka’s Softlogic Holdings group today brought a 73.5 percent stake in Asian Alliance Insurance, a listed insurer for 3,308 million rupees, at 120 rupees per share. Softlogic Holdings said in an earlier filing that it wanted buy 53. 16 percent of Asian Alliance held by Asia Capital PLC and […]
Sri Lanka sells US$166mn floating rate bonds
Aug 11, 2011 (LBO) – Sri Lanka sold 166 million US dollars of bonds based on 6-month London Interbank Offered rate extending tenors up to 5-years mainly targeting resident investors, the government’s debt office said. Called ‘development bonds’ the floating rate debt is sold mostly to domestic banks and investors allowed to have foreign exchange […]