All Blogs
Disappearing island solves India-Bangladesh dispute
KOLKATA, March 25, 2010 (AFP) – A tiny island at the centre of a territorial dispute between India and Bangladesh has disappeared beneath the waves due to rising sea levels and erosion, scientists say. At its height, it was never more than two metres (about six feet) above sea level. Hazra said a larger island, […]
Sri Lanka Treasuries yields edge up
Mar 24, 2010 (LBO) – Sri Lanka’s 3-month Treasury bill yields moved up 05 basis points to 8. 45 percent at Wednesday’s auction, the government’s debt office said. The 6-month yield moved up 05 basis points to 9. 19 percent while the 12-month yield stayed flat at 9.47 percent. The government’s debt office said it […]
Sri Lanka warned against excessive foreign reserves
Mar 24, 2010 (LBO) – Holding large foreign exchange reserves could actually be a burden for Sri Lanka’s government and deny funds from badly needed infrastructure and health care, a senior corporate executive has said. Sanjoy Ray, Finance Director of Finlays Colombo said that while foreign exchange reserves could act as a buffer against emergencies, […]
Sri Lankan stocks close 0.21-pct down
Mar 24, (2010) – Sri Lankan shares closed down Wednesday as retail investors remained cautious, while a large deal on index heavy John Keells Holdings (JKH) and Distilleries Company of Sri Lanka boosted turnover, brokers said. JKH closed at 171.00 rupees, up 1.00 with 5.43 million changing hands, brokers said. Hayleys closed flat at 225.00 […]
Finance Issue
Mar 24, 2010 (LBO) – An initial public offer of shares by Sri Lanka’s Vallibel Finance is seen as being priced to a discount to market given its immediate earnings record, Capital Alliance, the issue’s placement agent, said. Vallibel Finance seeks to raise 114.4 million rupees by selling 5.2 million shares at 22 rupees each. […]
Sri Lanka mulls aviation complex in former Tiger jungle airstrip
Mar 24, 2010 (LBO) – A makeshift airstrip built by Tamil Tiger separatists in the jungles of northern Sri Lanka is to be turned into an aviation complex under government post-war reconstruction plans, an official said. L H Indrasiri, director, geographical information systems of the Urban Development Authority, said the proposal was part of a […]
Prerequisites for making Sri Lanka an energy hub
Mar 24, 2010 (LBO) – Sri Lanka is to become a “Naval, Aviation, Commercial, Energy and Knowledge hub.” Of the five hub visions, this is the longest shot. But not impossible, especially if combined with the plan for a shipping hub (I assume the intention was talk about civilian shipping, and not about ships with […]
Sri Lanka blocks US rapper Akon: official
March 23, 2010 (AFP) – Sri Lanka Tuesday said it had refused US rap star Akon entry to the island following protests that a music video he produced was offensive to Buddhists. He said Colombo decided to stop the Grammy Award-nominated star’s concert planned for April 24 despite hopes from the official Tourism Promotion Bureau […]
Sri Lanka businesses told: be prepared, watch warning signs
Mar 24, 2010 (LBO) – Sri Lankan businesses should be prepared for economic downturns and watch for warning signs from other economies to avoid being hurt during crises, Central Bank governor Nivard Cabraal said. “The first lesson is, strengthen yourself in good times,” he said, recalling how the central bank prepared to face the global […]
Sri Lankan stocks close 0.33-pct down
Mar 23, 2010 (LBO) – Sri Lankan shares closed down Tuesday as retail investors continued to stay on the sidelines, while private deal on John Keells Holdings (JKH) pushed turnover past a billion rupees, brokers said. The All Share Price Index closed at 3,730. 67, down 12.33 points, while the Milanka index of more liquid […]