All Blogs
Sri Lanka rupee slips to 110.65 against greenback
Dec 10, 2008 (LBO) – The Sri Lanka rupee slipped to 110.65/75 against the greenback on Wednesday from 110.30 two days earlier, but the central bank is continuing to intervene at the new rate, dealers said. The Sri Lanka rupee had come under severe pressure from central bank liquidity injections to maintain reserve money, following […]
Sri Lanka shares break slide on thin trading
Dec 10, 2008 (LBO) – Sri Lankan shares ended slightly firmer Wednesday but on razor thin turnover with brokers saying the minor upturn after a long slide was likely to be short-lived. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index gained 1.31 […]
Interbank Deal
Dec 10, 2008 (LBO) – Sri Lanka’s public listed Commercial Bank of Ceylon says it has sought legal advice over a derivative deal with state-run People’s Bank which was sold to a state petroleum distributor. Sri Lanka’s Supreme Court has halted payments to banks which provided a complex derivative to state-run Ceylon Petroleum Corporation after […]
Sri Lanka tea prices recover slightly after steep fall
Dec 10, 2008 (LBO) – Prices of Sri Lanka’s low grown teas recovered slightly at this week’s auction after plunging for several weeks but it was not clear if they had bottomed out. Teas from the high and mid-grown elevations produced mainly by listed regional plantations companies fell mainly because of lower quality. Forbes & […]
Sri Lankan govt has public backing for war on Tigers: survey – Poll
December 10, 2008 (AFP) – The Sri Lankan government has overwhelming public support for its war against the Tamil Tigers, and most people believe the rebels will soon be defeated, an opinion poll published Wednesday shows. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The privately run […]
Sri Lanka clothing exporter goes east with US aid
Dec 10, 2008 (LBO) – Brandix Lanka, a top Sri Lankan clothing exporter, has got US aid to train workers in a new factory it has set up in the island’s east which the government is trying to develop after driving out Tamil Tiger rebels.The US Agency for International Development and Brandix Lanka are working […]
Sri Lanka hydro power firm to fast-track Uganda project: report
Dec 10, 2008 (LBO) – A Sri Lankan hydro-power firm which has developed a string of private plants in the island, has been engaged to speed up a stalled hydro-electric project in Uganda, a media report said. D’Ujanga said the new firms were expected to speed up the project despite being involved in a larger […]
Export Formula
Dec 09, 2008 (LBO) – Sri Lankan industrial exporters say the lack of a transparent price formula especially for diesel has increased their production cost against foreign competitors, especially at a time when the rupee is also overvalued. In Sri Lanka petroleum pricing has become heavily politicized since 2004, after the Janatha Vimukthi Peramuna, a […]
Formula Politics
Dec 10, 2008 (LBO) – Sri Lanka’s President Mahinda Rajapaksa rejected a price-formula for fuel amidst growing public displeasure at exorbitant pump prices set by government for both petrol and diesel. Opposition activists had already gone to court asking for relief on petrol over-pricing in particular. Official data shows that the wholesale price of refined […]
Sri Lanka government wins 2009 budget vote
Dec 08, 2008 (LBO) – Sri Lanka’s government Friday won a crucial vote in parliament on its budget for 2009 with a majority of 42 votes, a parliamentary reporter said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The government managed to win 126 votes in favour […]