Author: lbostgadmin
‘s CEB says nothing sinister in water release
Apr 23, 2013 (LBO) – Sri Lanka’s Ceylon Electricity Board’s recent release of water from its Upper Kotmale reservoir was due to a maintenance requirement and was not intended to benefit a private thermal plants, a top official said.The water from Upper Kotmale was released into the Kotmale Reservoir which is lower in the cascade […]
‘s Hamilton Canal reconstruction in progress
Apr 23, 2013 (LBO) – Rebuilding and clearing of Sri Lanka’s Hamilton Canal in Negambo is progressing with a bridge at Palliyawatta to improve the environment for residents and to attract tourists the economic development ministry said.A project by the Western Province Tourism Ministry and Sri Lanka Tourism Development Authority expects to re-build a 22 […]
Sri Lanka stocks close 0.2-pct higher
Apr 23, 2013 (LBO) – Sri Lanka’s stocks closed up 0.19 percent helped by foreign buying into banking and beverages firms, brokers said. John Keells Holdings closed at 248.90 up 90 cents, Dialog Axiata closed at 9.30 up 0.10 rupees and Ceylon Tobacco closed up 1.90 rupees at 801.90. Distilleries Company of Sri Lanka closed […]
Sri Lanka Treasuries yields ease
Apr 23, 2013 (LBO) – Sri Lanka’s Treasuries yields eased a basis points at this Tuesday’s auction with the 3-month yield at 9.23 percent, data from the state debt office showed.The 6-month yield also fell one basis point to 10.23 percent. The 12-month yield was flat at 11.34 percent. The debt office, which is a […]
Sri Lanka to phase out fuel surcharge on power bills from next year: officials
Apr 22, 2013 (LBO) – A hike in power tariffs has had a minimal impact on low users, and a fuel surcharge will be phased out from early next year as two more coal plants come on stream, officials said.Power minister Pavithra Wanniarachchi said 1.1 million households that used up to 30 units of electricity […]
Sri Lanka India coal plant back on track
Apr 22, 2013 (LBO) – A disputed power purchase agreement (PPA) for a joint venture coal plant with India’s National Thermal Power Corporation, has been re-negotiated on fairer terms paving the way to the plant to go ahead, officials said. Industry analysts and the public at a recent public hearing has warned the CEB not […]
Girlfriend of British tourist murdered in Sri Lanka speaks of assault
Apr 21, 2013 (LBO) – The Russian girlfriend of a British tourist murdered in Sri Lanka in an incident involving a politician, has spoken of her own assault to a British newspaper. The newspaper said the dress and missing underwear could have provided evidence. Tkacheva had said she was prepared to give evidence, waiving her […]
Credit Trend
Apr 22, 2012 (LBO) – State borrowings from Sri Lanka’s commercial banks including dollar credits reached 57.9 billion rupees in February 2013, but there was no central bank accommodation, official data showed.Central Bank credit fell from 266.3 billion rupees to 245.1 billion rupees indicating that the monetary authority was sterilizing forex purchases, building up reserves […]
The End
Apr 22, 2013 (LBO) – Fitch Ratings said it had upgraded to ‘AA-(lka)’ from ‘A(lk)’ a rating on People’s Finance Plc, which has merged with its higher rated People’s Finance and Leasing (PLC), Sri Lanka’s largest non bank lender. . The rating has a ‘stable’ outlook. PLC also has a ‘B+’ international rating. Fitch said, […]
Bank Brand
Apr 22, 2013 (LBO) – State-run Bank of Ceylon said it had been named the top brand overall and the first banking brand in a survey by Brand Finance, a UK based brand valuation network.It has 606 branches, 473 teller machines and 860 foreign corresponding agents. It recently introduced a night banking branch in Wellawatte […]
‘s Havelock City forging ahead amid new risks
Apr 21, 2013 (LBO) – Sri Lanka’s ‘Havelock City’ a mixed development with multi-tower apartment complex with more than 100o untis and commercial space said it is forging ahead despite emerging risks from a state move to restrict foreign ownership of property. “..[T]he regulatory changes contemplated by the Government on foreign ownership of property could […]
Racing Bikes
Apr 21, 2013 (LBO) – Sri Lanka has allowed high powered motorbikes with engines of over 1,000 cubic centimeters to come in with a payment of 25,000 rupees through a law promulgated by gazette, a media report said.Sri Lanka’s The Sunday Times newspaper said the law by gazette permitted motor cycles imported “immediately prior to […]