All Blogs
Sri Lankan shares up on JKH deal
Mar 25, 2009 (LBO) – Sri Lankan stocks ended higher Wednesday, pushed up after a foreign investment fund divested a five percent stake in the island’s biggest conglomerate John Keells Holdings (JKH) to a local insurance company, brokers said. The All Share Price Index gained 0.72 percent (11.75 points) to end at 1,637.23 while the […]
Sri Lanka tea factories clamour for loan concession
March 25, 2009 (LBO) – The Sri Lanka Tea Board has received applications from more than 470 tea factories seeking approval to get government concessions on loans, a senior official said.But the tea companies have complained that they have got no funds yet. Tea Board chairman Lalith Hettiarachchi said the manufacturers are seeking support for […]
Sri Lanka tea industry eyes Chinese market
March 25, 2009 (LBO) – Sri Lankan tea exporters are being encouraged to take part in a forthcoming tea fair in Hong Kong as a means to penetrate the huge Chinese market, in industry officials said.Hasitha de Alwis, director (promotion), Sri Lanka Tea Board, said firms taking part in the tea fair will not only […]
Sri Lanka tea crop recovers, prices head down
March 25, 2009 (LBO) – Sri Lankan tea prices have weakened with the end of the Western quality season, although the better quality offerings still fetched higher prices at the last auction.Brokers said rains have been reported from most tea planting districts and crop intakes have shown a slight increase in certain areas. Supply will […]
‘s hideout overrun
March 25, 2009 (AFP) – Sri Lankan government troops have overrun a hideout of the Tamil Tigers’ feared intelligence chief, the defence ministry said Wednesday. But there was no sign of Pottu Amman, who along with Liberation Tigers of Tamil Eelam (LTTE) leader Velupillai Prabhakaran is believed to have either fled the island or else […]
Extended
Mar 25, 2009 (LBO) – Sri Lanka’s Chevron unit said the island’s government has extended the lease on a land where its blending plant was located for a further five years, ending months of uncertainty. The firm was originally the lubricants division of state-run Ceylon Petroleum Corporation (CPC) which was privatized. Chevron Lubricants Lanka Ltd […]
Sri Lanka state enterprises a big burden: minister
March 25, 2009 (LBO) – Sri Lankan state enterprises come begging to the Treasury for money to pay staff salaries, instead of making profits and contributing to national development, a senior government minister said.“One of the strange functions as the minister of finance in Sri Lanka is to handout checks at the end of the […]
Sri Lanka shares end weaker
March 24, 2009 (LBO) – Sri Lankan shares ended slightly weaker Tuesday with a single Sampath Bank block of 744,155 shares traded at 65.75 rupees accounting for almost half the day’s turnover, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]
Port Moves
March 24, 2009 (LBO) – Two big shipping lines, four Sri Lankan conglomerates, and a Middle East port operator were among the prospective bidders for a new container terminal in Colombo port which met government officials last week. Two shipping lines also took part, Maersk, the world’s biggest shipping line, and APL, another big shipping […]
Overseas Look
Mar 24, 2009 (LBO) – Sri Lanka’s Hatton National Bank is looking to start investment banking operations in Bangladesh as part of its venture into overseas markets, a senior official said. HNB had gone into Oman to push remittances through Majan Exchange LLC, which is 40 percent owned by the bank. And it has just […]