All Blogs
Sri Lanka stocks end up 0.3-pct
July 06, 2011 (LBO) – Sri Lankan stocks closed higher for the second day running although turnover remained lower than usual with no big deals done, brokers said. The main All Share Price Index closed at 6,884.06, up 0.31 percent (21.27 points) while the more liquid Milanka index rose 0.28 percent (18.23 points) to close […]
Port Prospects
July 06, 2011 (LBO) – A new deep-water terminal in Colombo port will help Sri Lanka take advantage of increasing Indian cargo volumes, said the head of a local firm doing the project in a joint venture with a Chinese company. Parakrama Dissanayake, chairman of Aitken Spence Maritime, said Indian efforts to modernise its own […]
Lending Risk
SINGAPORE, July 6, 2011 (AFP) – The Asian Development Bank (ADB) and reinsurer Swiss Re announced an agreement Wednesday to boost regional trade by guaranteeing financing risks for exporters and importer in poor countries. The guarantee means banks can be more comfortable lending to these companies, which need short-term funds to pay for their import-export […]
Sri Lank, India ferry opens new route for people, vehicles
July 06, 2011 (LBO) – A new ferry service between India and Sri Lanka offers a cheaper alternative to airlines for tourists, traders and pilgrims and even the ability to drive across, the head of the company running the service said. “Our aim was to keep the price much less than that of airlines which […]
Legal Status
July 6, 2011 (LBO) – Sri Lanka’s recent state land sales to investors have procedural flaws that could result in the contracts being challenged in courts and deemed illegal, opposition lawmakers warned at an economic forum. Sri Lanka had sold two blocks of state land to CATIC, a Chinese defence contractor, and Shangri La, a […]
Sri Lankan shippers warned against forged trade documents
July 06, 2011 (LBO) – Documents used for international trade such as bills of lading are easily forged, a maritime fraud expert has warned Sri Lankan shippers, saying physical verification of cargoes would help reduce risk. “They don’t get resolved quickly and can take years – many banks have been caught in that position. ” […]
Sri Lanka Pakistan CEPA talks in August: report
July 6, 2011 (LBO) – Sri Lanka and Pakistan will have talks on a comprehensive economic partnership agreement (CEPA) to broaden economic links in August in Colombo, a media report in the wake of annual trade talks in Islamabad said. Sri Lanka’s commerce minister Rishad Bathiudeen and Pakistan’s state minister for foreign and economic affairs […]
Sri Lanka skipper in trouble after wowing MCC
July 5, 2011 (AFP) – Former Sri Lanka skipper Kumar Sangakkara is in hot water after his highly acclaimed lecture at Lord’s, where he criticised what he alleged was a corrupt and politicised cricket administration at home. He said power games among cricket administrators, as well as board politics, had triggered rifts, ill feeling and […]
Sri Lanka IT and ITES: Cheap is not enough
July 06, 2011 (LBO) – I moderated a session on IT and BPO industries at the Sri Lanka Economic Summit. True moderation is not time keeping and turn management. It requires preparation. I prepared. I was bothered by a figure that was presented by the government spokesperson, the CEO of the ICT Agency. This placed […]
Sri Lanka stock end up 0.7-pct
July 05, 2011 (LBO) – Sri Lankan stocks recovered Tuesday with gains in index-heavy shares like John Keells Holdings in which there were six crossings or off-market private deals and foreigners being net buyers, brokers said. The All Share Price Index went up by 46.05 points (0.67 percent) to close at 6,862.79 while more sensitive […]