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Sri Lanka tea export earnings to hit record high
August 5, 2010 (AFP) – Sri Lanka is expected to earn a record 1.4 billion dollars from its tea exports this year thanks to a bumper crop, an official said Thursday. Tea, Sri Lanka’s biggest cash crop, earned 71.3 billion rupees (635 million dollars) in the first six months of 2010 compared with 58.2 billion […]
Tech Lure
Aug 05, 2010 (LBO) – An initial public offering by PC House, a Sri Lankan information technology company, was oversubscribed on its opening day Thursday, August 05, a stock exchange filing said. After the IPO total shares will go up to 228.9 million. PC House is raising 630 million rupees by selling 57 million shares […]
Sri Lankan president boosted as MPs defect
August 5, 2010 (AFP) – Two opposition lawmakers in Sri Lanka defected to the ruling party on Thursday, bringing President Mahinda Rajapakse closer to altering the constitution to allow him to retain power. The two MPs, both from the minority Tamil community, joined the United People’s Freedom Alliance (UPFA) led by Rajapakse, who oversaw the […]
US, Canada monitor ship said full of Sri Lankan refugees
WASHINGTON, August 4, 2010 (AFP) – The United States and Canada said Wednesday they are monitoring a ship said to be packed with Tamil refugees bound for Canada as they flee post-war persecution in Sri Lanka. D. M. Jayaratne, Sri Lanka’s prime minister, has urged Western nations to crack down on Tamils living abroad who […]
Lube Attraction
Aug 05, 2010 (LBO) – The Sri Lankan government has decided to further open up the lubricant market by allowing more suppliers with the aim of increasing competition and reducing prices, a spokesman said. Lubricant sale and production is a regulated industry in Sri Lanka. The local lubricant market was opened up in January 2007. […]
Sri Lanka Treasuries yields fall
Aug 04, 2010 (LBO) – Sri Lanka’s Treasury bill yields slipped 12 to 20 basis points Wednesday with one year yields falling most, auction results from the government debt office showed. The debt office sold 1.1 billion rupees in 3 months bills, 4.8 billion rupees in 6-month bills and 7.6 billion rupees in 12-month bills. […]
Sri Lanka to issue US$1bn bond in Sept
Aug 04, 2010 (LBO) – Sri Lanka is to issue an international sovereign bond of a billion dollars around September 2010 to raise cash to fund infrastructure and retire debt, the central bank said in a statement. “The proceeds from the bond issue would be use for infrastructure development and to restructure the existing government […]
Sri Lanka bond auction yields slip
Aug 04, 2010 (LBO) – Sri Lanka’s 4-year bond yields slipped 13 basis points to 9. 40 percent and 6-year bonds fell 3 basis points to 9.65 percent and 10-year bonds were at 9.80 percent Tuesday, results released from the government debt office showed. The government sold 1.4 billion rupees worth bonds from the 4-year […]
Sri Lankan stocks close up 1.12-pct
Aug 04, 2010 (LBO) – Sri Lankan shares closed up Wednesday, from price gains on selected midcap and high value stocks, while a private deal on Asian Hotels and heavy retail interest on market debutant Odel, boosted turnover, brokers said. The All Share Price Index closed at 5,214.84 up 58.01 points, while the Milanka index […]
Sri Lanka Kelani Valley Plantations June net down 82-pct
Aug 04, 2010 (LBO) – Sri Lanka’s Kelani Valley Plantations net profit for the June 2010 quarter fell 82 percent to seven million rupees from a year ago as costs shot up and tea prices fell, a stock exchange filing said. Sales of the firm which grows tea and rubber and is a subsidiary of […]