All Blogs
Sri Lanka Janashakthi Insurance hit by flood claims
Sept 02, 2010 (LBO) – Sri Lanka’s Janashakthi Insurance said net profit in the six months to June 2010 fell 45 percent to 145 million rupees from a year ago mainly because of a flood of claims for damage caused by recent floods. The company has an asset base of over 11 billion rupees with […]
Sri Lanka LOLC cuts grid use with solar power
Sept 02, 2010 (LBO) – Sri Lanka’s LOLC financial group commissioned a 48 kiloWatt solar power array that will supply 15 percent of energy needs at its head office in Colombo, reducing its ‘carbon footprint’, officials said. The LOLC head office uses about 50,000 units (kilowatt hours) of energy a month. The firm already had […]
Sri Lanka foreign reserves surge to US$5.7bn: Central Bank
Sept 02, 2010 (LBO) – Sri Lanka’s foreign reserve surged to 5,731 billion US dollars in June 2010 when counting domestically arranged currency swaps, the Central Bank said. In May 2010 the monetary authority reported foreign reserves of 5,032 million dollars. No mention of swaps was made with the release of May data. The central […]
Sri Lanka Treasuries yields fall
Sept 01, 2010 (LBO) – Sri Lanka’s one year Treasury bill yields fell 21 basis points Wednesday at an auction where the government rolled over 10 billion rupees of maturing bills, the debt office said. The 3-month yield fell 05 basis points to 7. 13 percent, the 6-month yield fell 15 basis points to 7.80 […]
Sri Lanka stocks close up 0.57-pct
Sept 01, 2010 (LBO) – Sri Lankan stocks closed slightly higher Wednesday with heavy trading in shares of a hotel that announced a rights issue, brokers said. The All Share Price Index closed at 5,690.29, up 0.57 percent (32.28 points) while the more liquid Milanka index rose 0.34 percent (20.16 points) to close at 5,909.32, […]
Law Change
August 31, 2010 (AFP) – Sri Lanka’s Supreme Court on Tuesday began assessing a draft bill that would amend the island’s constitution to allow President Mahinda Rajapakse to run for office for a third term. Registrar of the Supreme Court said the five-judge bench would give their decision to the president and speaker of parliament […]
”’
NEW DELHI, August 31, 2010 (AFP) – India on Tuesday said China was demonstrating “more than normal interest” in the Indian Ocean as two Chinese warships made a rare visit to military-ruled Myanmar. India is watchful of China’s growing presence in the region, including its major investments in ports being built in Sri Lanka and […]
Sri Lankans seen deprived of free trade benefits by protectionist lobby
Sept 01, 2010 (LBO) – Protectionist lobbies holding up a new free trade deal with India are putting Sri Lanka at risk of being left out of emerging regional trade blocs and depriving consumers the benefits of free trade, an official said. “Sri Lanka is rather insignificant in the larger calculations of world powers except […]
Expanding Gas
Sept 01, 2010 (LBO) – Sri Lankan liquid petroleum gas (LPG) supplier Laugfs Gas is to expand with plans for regional storage facilities in the north and south, an official said. Laugfs has said recently that it is also keen on buying the local assets of its competitor Shell Gas Lanka which wants to sell […]
Sri Lanka trade deficit surges amid economic recovery
Sept 01, 2010 (LBO) – Sri Lanka’s exports grew 13.7 percent to 3.6 billion US dollars in the first half of 2010, and imports expanded 42.1 percent amid an economic recovery, expanding the trade deficit by 108 percent to 2.8 billion US dollars, official data show. In the month of June exports grew 23.4 percent […]