Author: lbostgadmin
‘s Malwatte Valley Plantations ups spice, fruit crop
May 28, 2013 (LBO) – Sri Lanka’s Malwatte Valley Plantations Plc, a tea and rubber growing company said it was expanding commercial spice and fruit cultivation.. Chairman Willem Bogtstra told shareholders in an annual review that the firm is focusing on pepper, cardamoms, rambutan, avocado, mango and mandarin, using currently uncultivated land. “During the review […]
Sri Lanka tourism expansion, cement plant by Nepali magnate: report
May 28, 2013 (LBO) – Nepal’s Binod Chaudhary is expanding tourism investments in Sri Lanka and has also got preliminary approval for a greenfield cement factory in the island’s north, a media report said.Sri Lanka’s The Daily Mirror newspaper said Chaudhary is negotiating with owners for land in the Jaffna peninsular to build a 600,000 […]
‘s Softlogic Finance raises Rs500mn in debt
May 28, 2013 (LBO) – Sri Lanka’s Softlogic said it had raised 500 million rupees in two year funds by selling securitized debt.The firm said commercial banks, development banks and institutional investors had subscribed to the issue, arranged by Liege Capital with Deutsche Bank as trustee and Nithya Partners as lawyers. The funds raised by […]
Sri Lanka Senkadagala Finance debentures allotted
May 28, 2013 (LBO) – Subscribers to debentures of Sri Lanka’s Senkadagala Finance Plc, rated BBB+(lka) by Fitch will get up to 180,000 the entire amount asked for, in either fixed or floating rate securities. The firm offered to sell 500 million rupees of debt, upsized to a billion rupees if oversubscribed, and offer closed […]
Sri Lanka post-war growth shift smaller
May 27, 2013 (LBO) – A post-war growth spurt is temporary and there was no ‘structural shift’ to eight percent a year from six, needing policy changes, an economist said, echoing a call by the International Monetary Fund to improve policy. Harsha De Silva, who is also a legislator for the opposition said while there […]
Sri Lanka not revealing fiscal data according to law: legislator
May 27, 2013 (LBO) – Sri Lanka current administration is breaking the law in withholding information that should be filed in parliament under a fiscal responsibility law, which should be corrected from this year, a legislator has said.In the first three months of the year state and SOE borrowings from the banking system rose to […]
Sri Lanka President to boost economic, political ties with China visit
May 27, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa has begun a state visit to China meeting top leaders on wide ranging issues including economic, international affairs and defence, his office in Colombo said. President Rajapaksa will also attend inaugural ceremonies of the Global Service Forum Beijing Summit and the 2013 International Conference of […]
Umpire reveals attempt to fix Sri Lanka – Pakistan match
LONDON, May 26, 2013 (AFP) – Former umpire John Holder alleged Sunday he was offered £10,000 (,139) to help sway the course of a one-day international in the United Arab Emirates. “He told me his syndicate were involved in making money as the game fluctuates. “I said, ‘You’ve got the wrong person’.Players and umpires who […]
Sri Lanka cricket team sponsored by Dialog Axiata for Rs753mn
May 27, 2013 (LBO) – Sri Lanka’s Dialog Axiata, the island’s largest mobile operator said it will sponsor the men and women’s national cricket team for three years in a 753.9 million rupee deal. The team sponsorship will start on June 01, the firm said in a stock exchange filing. It will cover tours both […]
Indian police arrest six bookies over IPL cricket bets
PANAJI, India, May 27, 2013 (AFP) – Indian police said Monday they have arrested six bookmakers in Goa state who were part of an syndicate betting on Indian Premier League cricket matches. This year’s IPL tournament ended on Sunday night. The tournament has been reeling from a spot-fixing scandal which has led to the arrest […]
Tourist arrivals to Sri Lanka up 14.7-pct in April
May 27, 2013 (LBO) – Tourist arrivals to Sri Lanka rose 14.7 percent to 79,829 in April 2013, with Eastern Europe, China and Maldives showing gains but India and the Middle East weakening, official data showed.Arrivals from Western Europe, the top generating region rose 10 percent to 27,531, and was up 12.1 percent to 156,658, […]
Aftermath
May 27, 2013 (LBO) – Sri Lanka Ports Authority said operations at Colombo Port are as usual following a fire in the early hours of May 24.SLPA is looking at compensating customers whose cargo was damaged, the SLPA said. “At present, all operations at SLPA and the Port of Colombo are carried out as usual […]