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Growth Year
Mar 03, 2011 (LBO) – Sri Lanka’s state-run Bank of Ceylon group said profits for the December 2010 quarter grew 77. 5 percent to 2,107 million rupees and the full year net was up 102 percent to 3,299 million amid high loan growth and wider margins. The group also contained operating costs with non-interest expenses […]
Sri Lanka vacant apartments can be used for tourism: official
Mar 03, 2011 (LBO) – Sri Lanka’s tourist development office says owners of vacant apartments in Colombo will be given a chance to use them for tourism in a bid to expand room capacity in the capital amid a steep increase in tourist arrivals. Sri Lanka tourist development authority chairman Nalaka Godahewa said about 500 […]
Status Quo
Mar 03, 2011 (LBO) – Sri Lanka’s state investment promotion agency said its chairman will stay on and “appropriate notice” will be given when he leaves. The BOI is being restructured and there had been protests by staff. The Board of Investment said its chairman, Jayampathy Bandaranaike, had taken over the agency with “specific understanding […]
‘s Right to Information Act
NEW DELHI, March 3, 2011 (AFP) – Soon after he exposed how bricks were bought for six times their value for roads that were never built in the northern Indian state of Uttar Pradesh, Amarnath Pandey was shot near his home. The bullet, which he believes was fired by contractors who were benefiting from the […]
Australia primed for Sri Lanka spin
March 3, 2011 (AFP) – Australian captain Ricky Ponting is confident his side can deal with Sri Lanka’s spin attack and their devastating pace spearhead Lasith Malinga when the sides meet on Saturday. The Group A match in Colombo will be a repeat of the controversial 2007 World Cup final when Australia won by 53 […]
” with current rates, despite inflation, forex pressure
Mar 03, 2011 (LBO) – Sri Lanka is comfortable with current interest rates, Central Bank governor Nivard Cabraal said despite a spike in consumer prices to a two year high and an outflow of foreign reserves. Sri Lanka has some of the highest policy rates in the world at 7. 00 percent to drain excess […]
Sri Lanka to revamp tax concessions for investors: minister
Mar 03, 2011 (LBO) – Sri Lanka’s government is preparing new laws to speed up investment approvals with existing tax breaks by the investment promotion agency being abolished, a minister said. The war ended nearly two years ago enabling the government to end tax concessions that had caused heavy revenue losses. “We have brought a […]
Box Slots
Mar 02, 2011 (LBO) – Thailand’s Regional Container Lines (RCL) has started a new Asian container shipping service that will make two weekly calls at Colombo port to cater to growing demand, a statement said. RCL is a Thai-based container shipping line listed on the Thai Stock Exchange and currently owns and operates a fleet […]
Rest Stop
Mar 02, 2011 (LBO) – The first refueling station at a rest stop mid-way on Sri Lanka’s southern highway which is nearing completion will be operated by state-run Ceylon Petroleum Corporation, petroleum ministry secretary Titus Jayawardene said. The refueling station will be built in Dodangoda, an interchange near Kaluthara, in the stretch between Colombo and […]
Cash Call
Mar 02, 2011 (LBO) – Sri Lanka’s Seylan Bank now being restructured under regulatory supervision said will raise 4. 6 billion rupees (42.6 million US dollars) from shareholders by the sale of new voting and non-voting shares. The bank will issue 43.33 million voting shares at 75 rupees in the proportion of one new share […]