Author: lbostgadmin
Sri Lanka-born top international designer Balmond in JKH resort
Aug 02, 2013 (LBO) – Balmond Studio Limited, a UK-based firm founded by Sri Lanka-born Cecil Balmond has designed John Keells Holding’s 820 million dollar casino resort development, the company said.The second phase involves a 200 unit apartment block and a 400,000 square feet office tower. JKH said its integrated resort will cater to the […]
Sri Lanka glove maker hopes to resume production
Aug 02, 2013 (LBO) – Sri Lanka’s Dipped Products, a unit of Hayleys group which exports gloves said it hoped to resume production which stopped Wednesday following protests over claims that it was polluting ground water.The firm did not specify a date to resume operations but said it was working towards an “early settlement”. Dipped […]
Sri Lanka rulers provide more water to protesting villagers
Aug 02, 2013 (LBO) – Elected representatives of Sri Lanka’s Gampaha district met Friday and decided to increase the distribution of water by bowser to villagers who were protesting about tainted water, one whom was shot dead by security forces. Sri Lanka’s economic development minister Basil Rajapaksa had convened a meeting of factions of elected […]
Sri Lanka Watawala Plantations stake upped by parent
August 02, 2013 (LBO) – Sri Lanka’s Watawala Plantations Plc, which farms tea, rubber and oil palm said its parent Estate Management Services has upped its stake to 74.6 percent. Watawala profits fell sharply in the June quarter as rains hit output and labour costs rose and commodity prices softened. The parent bought 49.3 million […]
Sri Lanka JKH hotel unit in the red
Aug 02, 2013 (LBO) – Top Sri Lankan hotel operator, John Keells Hotels Plc, slipped into the red in the June 2013 quarter amid a tourism boom losing 102 million rupees, interim accounts showed.The firm reported losses of 7 cents per share for the quarter, compared to earnings of 03 cents on total profits of […]
Sri Lanka JKH to raise equity, foreign debt for casino resort
Aug 02, 2013 (LBO) – Sri Lanka’s John Keells Holdings said an 800 million US dollar casino resort project will raise foreign debt and the parent may also make a cash call to invest 240 million US dollars in equity.The project involves an 800 room up market hotel, a convention centre that can hold 2,500 […]
Sri Lanka stocks close flat
Aug 02, 2013 (LBO) – Sri Lanka’s stocks closed flat Friday with losses in the large cap stocks and banking stocks, brokers said. The benchmark Colombo All Share Index closed 0.78 points lower at 6,155.82 and the S&P SL 20 Index closed 13.00 points higher at 3,490.57 up 0.37 percent. Turnover was 399 million rupees. […]
Sri Lanka calls auctions to mop up liquidity
Aug 02, 2013 (LBO) – Sri Lanka has called auctions to mop 20 billion rupees overnight and sell 9.5 billion rupees in Treasury bills outright after liquidity spiked due to a debt repayment from central bank credit a day earlier. To the extent that liquidity is left sloshing around in the banking system overnight, the […]
Sri Lanka Softlogic appoints risk, retail chiefs
Aug 02, 2013 (LBO) – Sri Lanka ‘s Softlogic group said it had appointed two senior executives with domestic and international experience to head the group risk and audit function and its retail unit. After starting at KPMG Ford Rhodes Thornton & Company in 1981 he moved to Singer Industries (Ceylon) Ltd, and moved to […]
”’ rating confirmed by S&P; warns on debt, institutions
Aug 01, 2013 (LBO) – Standard and Poor’s has confirmed Sri Lanka’s ‘B+’ sovereign rating with a stable outlook but warned on government debt and weak institutions. Sri Lanka’s external liquidity remains exposed to international liquidity conditions. Through 2015, we project that Sri Lanka’s gross external financing needs will exceed 120% of current account receipts […]
Sri Lanka sets date for polls in former war zone
August 1, 2013 (AFP) – Residents of Sri Lanka’s former war zone will go to the polls in September in a regional election expected to hand limited autonomy to minority Tamils, it was announced Thursday.The voting will be held on September 21 during a nine-hour period, a spokesman for the Election Commissioner told AFP. It […]
German envoy meets Allianz junior footballers
Aug 01, 2013 (LBO) – Isuru Weerasinghe and Roshen Subash, two Sri Lankan youngsters who will attend a football camp in Munich backed by Allianz Lanka, an insurer has met the German envoy in Colombo before their departure.Isuru from Central College in Badulla and Roshen from Holy Cross College in Kalutara shared their personal stories […]