Author: lbostgadmin
Yum Yum
Feb 26, 2013 (LBO) – Sri Lanka’s Renuka Shaw Wallace Plc, a consumer goods firm said it had bought a snack brand for 36 million rupees from Hemas group.The firm said it had bought the brand names and stock of Mr Pop, Chatters, Taze, Yummee, Rockers and Pik Nik brands from Hemas Manufacturing (Pvt) Ltd, […]
Credit Trend
Feb 26, 2012 (LBO) – Loans from commercial banks to private borrowers fell to 9.9 billion rupees in December 2012 from 24.1 billion rupees a month earlier while credit to the state soared by 76.1 billion rupees, official data shows. In February the government raised 153 million dollars from a floating rate dollar bond sold […]
Sri Lanka stocks slide 1.1-pct, rupee held
Feb 26, 2013 (LBO) – Sri Lanka’s stocks slid 1.15 percent Tuesday amid a broad based sell-off ahead of an UN resolution over human rights later in the week and the rupee held steady with selling by a state bank, brokers and dealers said. Colombo’s benchmark All Share Index fell 66 points to 5,669.48 points […]
Sri Lanka bond yields edge up
Feb 26, 2013 (LBO) – Sri Lanka has sold 2.0 billion rupees of 5-year bonds maturing on November 15, 2018 to yield 10.97 percent, and 10-year bonds maturing on January 01, 2023 to yield 11.76 percent, the state debt office said.The 5-year bond yield was up from the last auction where a slightly shorter tenor […]
Capital Costs
Feb 24, 2013 (LBO) – An upgrade to Sri Lanka’s 50,000 barrels refinery a day involving doubling of is capacity and boosting light distillate yields could cost up to 1.5 billion US dollars, officials said. Petroleum minister Anura Yapa told reporters Saturday that feasibility and front-end-engineering-design (FEED) has already been completed for the project. Sri […]
Fuel Hike
Feb 23, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has raised petrol by 3.0 rupees to 162 rupees a liter and auto diesel by 6.0 rupees 121.0 a litre, with super diesel being raised by 3.0 rupees to 145.0 reports said. Sri Lanka’s power regulator, the Public Utilities Commission of Sri Lanka has […]
Sri Lanka forum highlights risks to ocean resources
Feb 22, 2013 (LBO) – Sri Lanka’s future lies in the vast resources to be found in the ocean surrounding the island but this wealth is at risk from pollution and illegal practices, experts said. The country is on the verge of discovering oil and gas in offshore waters and its location makes it well-placed […]
‘s NTPC may drop Sri Lanka coal power project: report
Feb 22, 2013 (LBO) – India’s state-run National Thermal Power Corporation (NTPC) may pullout of a 500 MegaWatt coal power plant joint venture with Sri Lanka’s state-run Ceylon Electricity Board, a media report said. India’s Financial Express newspaper in an online report said NTPC had sought permission from Indian authorities to withdraw two of its […]
Sri Lanka power regulator trims proposed expenses
Feb 22, 2013 (LBO) – Sri Lanka’s power regulator has trimmed 33 billion rupees or about 12 percent of expenses proposed by the state-run Ceylon Electricity Board in the second step to revising power tariffs.Large volumes of bank loans taken to subsidize energy from mid 2011, which were ultimately accommodated with central bank credit (printed […]
Sri Lanka medical officers to get Allianz cover
Feb 22, 2013 (LBO) – Members of Sri Lanka’s Government Medical Officers’ Association (GMOA) will be able to get motor insurance with professional liability cover, insurer Allianz Lanka said.Under an agreement signed with GMOA, its member will get motor insurance with free flood and natural disaster cover, with professional liability. “We are sure this will […]
Sri Lanka and Korea air links to expand
Feb 22, 2013 (LBO) – Sri Lanka and Korea has liberalized an air services agreement allowing traffic rights to third countries which is expanding air links between the capitals of the two countries, the foreign ministry said.A new air services agreement had been signed on February 20 allowing Korean Air to fly to Maldives and […]
Management Ideas
Feb 22, 2013 (LBO) – The faculty of management studies and commerce of the University of Sri Jayewardenepura is holding an international conference with papers to be presented by participants from Malaysia, Poland, France and India in addition to Sri Lanka.The ‘International Conference on Business Management’ will be held on February 28 and March 01 […]