Author: lbostgadmin
No Probe
July 30, 2013 (LBO) – Sri Lanka’s finance ministry was not probing an allegation of pay-offs in a land deal with India’s Krrish group because there was no complaint by the investor, top officials aid.Krrish in a statement last week, denied that any pay-offs had been made for the land deal. Finance secretary P B […]
Property Rights
HANOI, July 31, 2013 (AFP) – A Vietnamese fish farmer who became a folk hero after he used homemade weapons to resist forced eviction has lost his appeal against a five-year jail term for attempted murder, a court clerk said Wednesday. Doan Van Vuon and his family rose to prominence when they armed themselves with […]
Expansion Plan
July 31, 2013 (LBO) – State-run Sri Lanka Ports Authority (SLPA) expects to invest in foreign ports and look for opportunities in terminal management, a strategic plan running up to 2020 said.SLPA already has a 15 percent stake in Colombo International Container Terminal, where China Merchant (International) is the majority partner. “..SLPA will jointly explore […]
Sri Lanka sovereign and banking forum by Fitch
July 31, 2013 (LBO) – Fitch Ratings will hold a sovereign and banking roundtable forum in Colombo on August 06, where senior analysts from the rating agency and representatives of the financial sector will participate. Sri Lanka’s central bank Governor Nivard will be chief guest. The full statement is reproduced below: Fitch to Host First […]
Sri Lanka 12-month Treasuries yield falls
July 31, 2013 (LBO) – Sri Lanka’s 12-month Treasuries yield fell 04 basis points to 10.52 percent at Wednesday’s auction, data from the state debt office said. In the secondary market 3-month bills were quoted at 8.65/85 percent levels and 6-month bills were quoted around 9.65/75 percent levels, dealers said. The 12-month bill was quoted […]
Sri Lanka raises fag taxes to boost revenues
July 31, 2013 (LBO) – Sri Lanka has raised taxes on cigarettes to bring in an additional 1.4 billion rupees in revenues for the rest of the year, an official said. Treasury Secretary P B Jayasundera said tax revenues were picking up with an improvement seen in customs collections. The price of cigarettes based on […]
Sri Lanka tax revenues picking up: Treasury Secretary
July 30, 2013 (LBO) – Sri Lanka’s tax revenues are picking up helped by stronger customs collections, Treasury Secretary P B Jayasundera said.Sri Lanka’s state revenues were 51 billion rupees below target in the first four months Jayasundera said revenues were better in June and July with a pick in vehicle imports also contributing. Sri […]
Cricket: Sri Lanka, South Africa want to light up dead rubber
COLOMBO, July 30, 2013 (AFP) – Sri Lanka and South Africa will not let the intensity slip in Wednesday’s fifth and final one-day international in Colombo even though the hosts have already wrapped up the series.“We might make one or two changes, but we certainly don’t want 11 freshers coming in.In our line-up, we have […]
Sri Lanka studying fresh locations for super-critical coal plant
July 30, 2013 (LBO) – Sri Lanka is studying locations to site a high tech coal plant for which funding is expected from Japan, after concerns over the initial location, a top official said. The 500 MegaWatt coal plant was to be built at Athuruwella in the South West coast of the island. Power ministry […]
’s boatpeople face return to island or transfer to PNG: Australia
July 30, 2013 (LBO) – Sri Lanka’s boatpeople face return to island or transfer to Papua New Guinea, an island off the Australian coast as 68 Lankans are shortly to be put through an enhanced screening processes, the country said. Almost 1300 Sri Lankans have been sent home since August 2012, 1100 of them involuntarily. […]
Rate Effect
July 30, 2013 (LBO) – Profits at Sri Lanka’s Seylan Bank fell 13 percent to 484 million rupees in the March 2013 quarter amid rising interest costs, interim accounts showed. The gross non-performing loan ratio (net of interest in suspense) fell to 11.15 percent from 12.99 percent at bank level during the period. The interest […]
Sri Lanka stocks close flat
July 30, 2013 (LBO) – Sri Lanka’s stocks closed flat Tuesday for a second consecutive day with activity seen in the large cap stocks and some banking stocks, brokers said. Distilleries Company closed flat at 190.50 rupees while Aitken Spence closed at 124.50 up 50 cents. Sri Lanka Telecom closed flat at 39.30 rupees. . […]