All Blogs
Sri Lanka stocks rebound 1.03 percent
Aug 10, 2011 (LBO) – Sri Lankan stocks closed up 1.03 percent Wednesday in a retail driven rally anticipating a relaxation of margin buying rules with property stocks being pushed further up, brokers said. Seylan Developments closed at 18.90 rupees up 1.70 rupees or 9.8 percent, with 13.5 million shares traded for 254 million rupees. […]
Auto Profits
Aug 10, 2011 (LBO) – Sri Lanka’s Diesel and Motor Engineering Company, an auto importer and distributor said net profits in the June 2011 quarter rose 321 percent to 636 million rupees with revenues growing 112 percent to 7.2 billion rupees. Sri Lanka’s vehicle imports are seeing a boom after taxes were cut on cars […]
Sri Lanka eastern farmers to grow sea bass, mussels, oysters: USAID
Aug 10, 2011 (LBO) – Farmers in Trincomalee in eastern Sri Lanka are growing sea bass in cages as part of a larger aquaculture project involving 1,300 people who will also grow mussels and oyster, with help from the US Agency for International Development (USAID). The US embassy in Colombo said over 50 percent of […]
Sri Lanka war ravaged rice mill gets ILO help
Aug 10, 2011 (LBO) – The International Labour Organization is helping a co-operative society in northern Sri Lanka rebuild a war-damaged rice mill, which will process paddy produced by 2,000 farmers in the area. The mill in Nadunkerni, Vavuniya, can process 4,000 metric tonnes of paddy (unhusked rice) a year, creating 20 jobs. The ILO […]
Sri Lanka Bairaha June net down 47-pct
Aug 10, 2011 (LBO) – Sri Lanka’s Bairaha Farms, a poultry group said net profits fell 47 percent to 55. 1 million rupees in the June 2011 quarter with revenues down 01 percent to 565 million rupees. The firm reported earnings of 3. 45 rupees per share for the quarter. Sri Lanka’s poultry stocks have […]
Sri Lanka wildlife groups boycott elephant census
Aug 10, 2011 (LBO) – Sri Lankan conservation groups are boycotting an elephant census, and called on the private sector not to support the effort, after a government minister revealed plans to capture up to 300 calves with tusks for domestication. Agrarian and wildlife minister S M Chandrasena was reported as saying that the survey […]
Indian minister says confidence returns to market
NEW DELHI, August 10, 2011 (AFP) – Confidence has returned to India’s share market after it plunged to a 14-month low on the back of the latest global financial turmoil, the country’s finance minister said Wednesday. India’s benchmark Sensex index of 30 leading shares soared nearly 400 points in early trade as part of a […]
Sri Lanka youth invited to attend World Bank annual meet
Aug 10, 2011 (LBO) – The World Bank has called Sri Lankans between the ages of 18 to 25 to apply to attend the lender’s annual sessions in Washington in September as ‘youth delegates’ and also interact with counterparts in the region. The World Bank and the International Monetary Fund are having their annual sessions […]
Fed promise to print money sends oil, equities soaring
SINGAPORE, August 10, 2011 (AFP) – Crude futures soared in Asian trade Wednesday, mirroring Asian equities markets encouraged by the US Federal Reserve’s two-year commitment to keep interest rates low, analysts said. Growth was also expected to be at a “somewhat slower pace” over the coming quarters, the Fed’s Open Market Committee added, as “downside […]
Tele Profits
Aug 09, 2011 (LBO) – Sri Lanka Telecom, the island’s only wireline operator which also has a mobile unit, said its June 2011 quarter profits rose 49 percent to 1,142 million rupees with revenues flat at 12. 4 billion rupees. The group reported earnings of 63 cents per share for the quarter and 1.35 rupees […]