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Sri Lanka shares end up 1.6-pct
Apr 12, 2011 (LBO) – Sri Lankan shares closed sharply higher Tuesday with the main index and turnover boosted by large transfers of shares in the Carsons group and gains in select high-valued stocks, brokers said. In other trades Tuesday, a million Commercial Bank shares changed hands in three crossings at 275 rupees a share […]
Efficiency Lift
Apr 12, 2011 (LBO) – Sri Lanka Ports Authority (SLPA) has taken delivery of new cranes to replace old ones at its main container terminal in Colombo port that will help improve productivity, officials said. The company which supplied the original cranes is no longer functioning, making the supply of spares a problem, it said. […]
Sri Lanka tourist arrivals up 43.5-pct in March
Apr 12, 2011 (LBO) – Sri Lanka’s tourism arrivals rose 43. 5 percent in March 2011 to 75,130, with steep increases seen from South Asia and several European generating markets, data from the tourist promotion office showed. Australia and New Zealand rose 50 percent to 3,540 and North America was up 16.8 percent to 3,990. […]
Sri Lanka left with $23 mln debt by World Cup
April 11, 2011 (AFP) – Sri Lanka Cricket said Monday it is saddled with a -million-dollar debt after cost overruns and hefty bills incurred building stadiums for the recent World Cup. “We spent a lot of money to host the World Cup, to build two stadiums and rebuild one stadium. The World Cup left us […]
Sri Lanka fast highway to have special emergency services
Apr 12, 2011 (LBO) – Sri Lanka’s first 100 kilometer per hour expressway from Kottawa in Colombo suburbs to Godagama in Matara in the southern province will have a specialist police division, paramedics and fire brigade, officials said. “There will be a special police division for traffic control, paramedics and separate fire brigade for the […]
Sri Lanka infrastructure lays foundation for growth: President
Apr 12, 2011 (LBO) – State infrastructure projects in power, ports, roads and water supply, especially in the war torn north and east of the country has laid a foundation for higher growth, Sri Lanka’s President Mahinda Rajapaksa said. “On the other had in the north – which had regressed 30-year during the war – […]
Sri Lanka shares end up 0.5-pct
Apr 11, 2011 (LBO) – Sri Lankan shares closed higher at the start of a short trading week with illiquid stocks rising sharply on speculation and a single large deal in a bank, brokers said. The trading week has been shortened to two days by traditional new year holidays. The All Share Price Index closed […]
Branch Support
Apr 11, 2011 (LBO) – Fitch Ratings Lanka said that Standard Chartered Bank’s Sri Lanka branch’s (SCBSL) ‘AAA(lka)’ national long-term rating will not be affected by the 27 billion rupee fine imposed by the central bank. The outlook on the rating is stable, the rating agency said in a statement. The central bank’s Department of […]
SriLankan Engineering wins IndiGo fleet maintenance deal
Apr 11, 2011 (LBO) – SriLankan Airlines said its aircraft maintenance arm SriLankan Engineering has secured a deal to carry out maintenance checks on twenty aircraft for India’s largest low-fare carrier IndiGo in 2011. SriLankan Engineering has in recent years been positioning itself as a Maintenance-Repair-Overhaul (MRO) organisation in the region. It was SriLankan Engineering’s […]
Maldives breaks peg, floats currency in 20-pct band
Apr 11, 2011 (LBO) – Maldives has broken its peg at 12. 85 to the US dollar effectively allowing the currency to depreciate over 15 rufiya to the US dollar under a 20 percent band within which the currency will be allowed to float. The International Monetary Fund said the move will help stabilize the […]