All Blogs
Sri Lanka flood victims to get EU aid
Feb 15, 2011 (LBO) – Sri Lanka’s flood victims, some of whom were recovering from a recent war will get 105 million rupees (700,000 euros) of food aid from the European Union through the World Food Program. “The needs of the flood-affected communities are great and WFP still faces considerable shortfalls in our funding” WFP’s […]
Sri Lanka Treasuries yields steady
Feb 14, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at the weekly auction with the government selling 13. 5 billion rupees in bills after offering 11. 0 billion rupees of paper for roll-over. The government’s debt office which is a unit of the Central Bank said the three-month yields were steady at 6.99 […]
Sri Lanka shares surge on palm oil hopes
Feb 14, 2011 (LBO) – Sri Lankan shares surged to a new high Monday as investors continued to buy into firms with oil palm plantations anticipating higher earnings on high commodity prices, brokers said. The All Share Price Index closed at 7,811.82, up 2.97 percent (225.19 points) while the more liquid Milanka index fell 0.15 […]
Mobility Monitor
Feb 14, 2011 (LBO) – Car imports into Sri Lanka shot up by 300 percent to 23,072 in 2010 after the government slashed import duty and also because of rising demand after the end of a war, a government statement said. It said the number of cars registered with the motor traffic department in 2009 […]
Finance Quality
Feb 14, 2011 (LBO) – Sri Lanka’s registered finance companies (RFCs) are gradually recovering from the weakened economic climate that prevailed in 2008 and 2009, a ratings report said. RAM Ratings (Lanka) said the sector has benefitted from falling interest rates which has increased margins due to deposit rates falling faster than rates on loans. […]
Bank Numbers
Feb 14, 2011 (LBO) – The December 2010 quarter net profit at Sri Lanka’s Sampath Bank almost doubled to 1.4 billion rupees from a year ago with basic earnings per share up 96 percent to 8.84 rupees, a stock exchange filing said. Interest income fell 9.8 percent to 4.7 billion rupees and interest expenses fell […]
Sri Lanka Aitken Spence Hotels net up on interest
Feb 14, 2011 (LBO) – Sri Lanka’s Aitken Spence Hotels, which also has operations in the Maldives, said net profit for the December quarter was up 30 percent to 272 million rupees, with revenues growing 5. 0 percent 2.0 billion from a year earlier. But operating profits fell 9.0 percent to 351 million during the […]
Sri Lanka reservoirs may need larger sluice gates, canals
Feb 14, 2011 (LBO) – Sri Lanka’s reservoirs including those planned or under construction may have to be re-designed with larger spill gates and canals to evacuate excess water following recent rare floods in quick succession this year, officials said. Sri Lanka’s Mahaweli river valley agency, which controls 12 large reservoirs says its network is […]
Sri Lanka seen as among fastest growing passenger markets
SINGAPORE, February 14, 2011 (AFP) – Eight-hundred million more people will travel by air by 2014, over a quarter of them from China, raising the need for more efficient traffic management and airports, IATA trade body said Monday. The International Air Transport Association (IATA) forecast an estimated 3. 3 billion air travellers in three years’ […]
‘s economy shrinks in Q4 as China moves ahead
TOKYO, February 14, 2011 (AFP) – Japan ceded its spot as the world’s second-biggest economy to China in 2010, as gross domestic product contracted in the fourth quarter on sliding consumer consumption and demand, data showed. Real gross domestic product slipped by an annualised 1.1 percent in the October-December quarter as the expiration of auto […]