Author: lbostgadmin
Sri Lanka firms have to change, connect with the world to face the future
Oct 04, 2013 (LBO) – Sri Lankan firms will have to face changes sweeping across the world and by becoming more connected firms can be successful in the future, participants of the business forum in Colombo said. But the current trend was a mixture of modern and traditional values.But ‘Modtradi’ trend will also change. “We […]
Sri Lanka close up 0.4-pct, rupee extends gains
Oct 04, 2013 (LBO) – Sri Lanka stocks closed 0.40 percent higher on speculative trades and the rupee strengthened against the US dollar, brokers and dealers said. The benchmark Colombo All Share Price Index closed 23.15 points higher at 5,837.95, up 0.40 percent after reaching an intraday high on 5,849.76 in late trading, provisional data […]
Sri Lanka to grow 6.8-pct in 2013, inflation 7.0-pct: ADB
Oct 03, 2013 (LBO) – Sri Lanka’s economy is forecasted to grow 6.8 percent in 2013 and inflation would be 7.0 percent, the Asian Development Bank said in revised projections released this week. “Foreign holdings of government securities dipped in late August, which further weakened the rupee by 5 percent against the US dollar from […]
Gold prices could fall further: Fitch Ratings
Oct 03, 2013 (LBO) – Gold prices could fall below 1,200 US dollars an ounce as the United States withdraws exceptional money printing operations and speculative investment demand weakens, Fitch Ratings said.The rating agency under its methodology 1,200 US dollars an ounce was a base case for a ceiling price for the next three years […]
‘s Brandix gets trade credit line from IFC
Oct 03, 2013 (LBO) – Brandix, a Sri Lanka based apparel group will get a trade finance facility from International Finance Corporation, a world bank arm, which the lender says is the first in South Asia. Brandix will get funding against credit given to selected international buyers which can be used for working capital. IFC […]
Sri Lanka to set standards for LED lighting
Oct 03, 2013 (LBO) – Sri Lanka will set standards for energy saving light emitting diode (LED) bulbs, paving the way to end high taxes on the product, an official said. Wickramasinghe said buyers can look at the star rating and compare prices and brands. “A light with higher star rating may be a better […]
Labour Standard
Oct 03, 2013 (LBO) – The first of seven Sri Lankan flagged ships plying international waters recently received International Labour Organisation certification for meeting the requirements of the Maritime Labour Convention of 2006.It is on charter to Safmarine, a company in the AP Moller-Maersk group and trades on the EURWAF service from Europe to West […]
Sri Lanka stocks up, rupee steady
Oct 03, 2013 (LBO) – Sri Lanka stocks closed 0.16 percent higher with speculative interest continuing in troubled Touchwood and the rupee strengthened in intra-day trading, brokers and dealers said. The benchmark Colombo All Share Price Index closed 9.18 points higher at 5,814.80, up 0.16 percent, provisional data showed, after reaching an intraday high of […]
Sri Lanka policies help aged: UN backed study
Oct 02, 2013 (LBO) – Sri Lanka’s decades long spending in education and health has made the lot of the aged among the best in Asia, a United Nations backed study has found. A study by HelpAge International, a charity which constructed a ‘Global AgeWatch Index has ranked Sri Lanka fourth in Asia after Japan, […]
Sri Lanka and India to ink coal plant deal this month
Oct 02, 2013 (LBO) – Power utilities of Sri Lanka and India will ink a key deal to start a 500MegaWatt coal plant in the island’s north east coast next week, a senior official said.The plant is seen as crucial to avoid power shortages in Sri Lanka by 2017/2018. Sri Lanka now has one 300MW […]
Sri Lanka seeks to manage power demand
Oct 02, 2013 (LBO) – Sri Lanka’s power regulator is setting up rules for ‘demand side management’, but the main utility and other stakeholders have asked for fine tuning and await a load research study. “At present the marginal cost of production of power is very high,” Damitha Kumarasinghe director general of Sri Lanka’s Public […]
SriLankan Airlines commissions A320 hangar
Oct 02, 2013 (LBO) – SriLankan Airlines said it had commissioned a new hangar for Airbus A320 aircraft at which will expand facilities to repair and maintain aircraft. The new hangar will also be equipped to perform full strip and paint jobs on narrow body aircraft later. The new hangar, located at the BIA complex […]