All Blogs
Sri Lankan stocks close 0.94-pct up, trading volumes low
Apr 05, 2010 (LBO) – Sri Lankan shares closed up Monday on price gains in selected midcap and high value stocks, while trading volumes remained low owing to market liquidity shortfalls, brokers said. Colombo’s All Share Price Index closed at 3,781. 90, up 35.40 points, while the Milanka index of more liquid shares gained 0.47 […]
Asset Switch
Apr 05, 2010 (LBO) – Sri Lanka’s state-run funds are buying into private banks as foreign investors continued to exit the country, while governments elsewhere, which had ‘nationalized’ banks in a banking panic were starting to sell out. Up to March foreign investors have sold out of about 13 billion rupees worth of stocks on […]
Software Export
Apr 05, 2010 (LBO) – Webguru’s International, a Dutch software company, has signed an agreement with Sri Lanka’s investment promotion agency to set up a company to develop software in the island, a statement said. The Board of Investment statement said the firm will invest 155,000 US dollars to set up the software development company […]
Stranded coal carrier threatens Great Barrier Reef
SYDNEY, April 5, 2010 (AFP) – Australian authorities were attempting Monday to stabilise a stranded Chinese coal carrier which is threatening to break up on the Great Barrier Reef and spill more oil into the pristine waters. The Shen Neng 1 ran aground on Saturday when it hit a shoal off the eastern state of […]
Sri Lanka boosts UN peacekeeping contingent
April 5, 2010 (AFP) – Sri Lanka’s military on Monday announced a fivefold increase in troops deployed on UN peacekeeping duties around the world, boosting its commitment to 5,000 soldiers. Lieutenant General Jagath Jayasuriya said the defeat of Tamil Tiger separatists last May meant more troops could be sent on UN missions. Sri Lanka has […]
Election set to strengthen Sri Lanka president
COLOMBO, April 5, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse, accused by critics of stifling dissent and persecuting the opposition, looks set to consolidate his hold on power in parliamentary elections this week. Rajapakse called Thursday’s vote two months ahead of schedule after his thumping re-election in January and his Freedom Alliance party is […]
Sri Lanka LOLC sets up insurance subsidiary
Apr 05, 2010 (LBO) – Sri Lanka’s Lanka ORIX Leasing Co. (LOLC) has set up an insurance subsidiary as it waits for a license to get into the insurance business, a stock exchange filing said. Lanka ORIX Leasing Co. was the island’s pioneer leasing firm and is backed by ORIX Corporation of Japan. The unit, […]
Sri Lankan hydro power producer starts new plant
Apr 05, 2010 (LBO) – Sri Lankan private power producer Vidullanka PLC commissioned and connected its fourth power plant to the national grid on March 26, the company said in a stock exchange filing. The plant is owned by Gurugoda Hydro, a joint venture between Vidullanka and Hiradamani Pvt Ltd. It was built by Vidul […]
‘s status as a shipping hub
Apr 05, 2010 (LBO) – Sri Lanka is to become a “Naval, Aviation, Commercial, Energy and Knowledge hub.” What are the conditions for maintaining and enhancing Colombo’s position as a shipping hub for the southern Indian subcontinental region? This is perhaps the easiest of the five. We have to thank the late Minister Lalith Athulathmudali […]
Sri Lanka president seen strengthened by election
April 5, 2010 (AFP) – Sri Lankan President Mahinda Rajapakse, accused by critics of stifling dissent and persecuting the opposition, looks set to consolidate his hold on power in parliamentary elections this week. Rajapakse called Thursday’s vote two months ahead of schedule after his thumping re-election in January and his Freedom Alliance party is in […]