Author: lbostgadmin
Sri Lanka Treasuries yield frozen
Feb 20, 2012 (LBO) – Sri Lanka’s Treasuries yields were kept flat Wednesday’s auction with only 14.9 billion rupees in bids for 20 billion rupees of bills being offered at the auction being accepted, data from the state debt office showed. The debt office which is a unit of the Central Bank said 926 million […]
Sri Lanka in diplomatic relations with Saint Vincent and the Granadines
Feb 19, 2013 (LBO) – Sri Lanka has established diplomatic relations with Saint Vincent and the Granadines, the foreign ministry said. Saint Vincent and the Granadines belong to the British West Indies and is a part of the Commonwealth of Nations. The foreign ministry said Sri Lanka’s permanent representative to the United Nations of the […]
Sri Lanka Agstar Fertilizers buy rice processor
Feb 19, 2013 (LBO) – Sri Lanka’s Agstar Fertilizers Plc said it had bought control of a rice processing and distribution company for 41.7 million rupees. The firm said in a stock exchange filing that it had bought 51 percent of Mahaweli Rice Processing Industries (Pvt) Ltd, based in Sandunpura, Dehiattakandiya. In the December 2012 […]
Sri Lanka begins re-building Hamilton canal as tourist attraction
Feb 19, 2013 (LBO) – Sri Lanka has begun re-building a colonial era canal north of the capital Colombo as an eco tourism attraction due to its access to nearby wetlands, the island’s economic development ministry said.A 600 million rupee project to rebuild the canal banks, clear silt and spruce up the surroundings had been […]
‘s SilverNeedle hotels
Feb 19, 2012 (LBO) – Singapore-based SilverNeedle Hospitality said it is entering Sri Lanka with a 200 room hotel as part of a 100 million US dollar joint venture mixed development with the island’s Abans group. Abans is a group with 250 million US dollar a year in revenues and says it is the largest […]
Net Interest
Feb 19, 2013 (LBO) – Sri Lanka’s The Finance Company Plc’s lost 510 million rupees in the December 2012 quarter up from a loss of 17 million rupees a year earlier, while nine month losses were 1.26 billion rupees, interim accounts showed. The firm reported earnings of 3.18 rupees for the quarter. In the nine […]
Tax Effects
Feb 19, 2013 (LBO) – Sri Lanka’s registrations of BMW luxury cars rose 280 percent in January 2013 from a year earlier following changes to taxes while new registrations of small Maruti/Suzuki models plunged 84 percent, data compiled by an equities research house show.Monthly data from Sri Lanka’s motor vehicle registry compiled by JB Stockbrokers […]
Sri Lanka rupee weakens amid excess liquidity
Feb 19, 2013 (LBO) – Sri Lanka’s rupee weakened below 127.00 to the US dollar in the spot market Tuesday following a prolonged period of excess liquidity in money markets, dealers said though authorities have begun to permanently sterilize some excess rupees. The spot US dollar was quoted around 127.00/10 Tuesday though a state name […]
Oil Offer
Feb 18, 2013 (LBO) – Sri Lanka is kicking of a second licensing round for off-shore oil blocks with road show starting in Houston on March 07, reports said.A notice on Sri Lanka’s petroleum resources development office said bidders conferences will also be held in London on March 12, and in Singapore on March 21 […]
Oil Plans
Feb 18, 2013 (LBO) – Sri Lanka is planning to offer up to 11 off-shore oil blocks on production sharing deals in a bidding round that will close around September and others where less data is available for joint study, a media report said. Sri Lanka is to open a second bidding round in March […]
Diversifying Strategy
Feb 18, 2013 (LBO) – LankaIOC, a unit of Indian Oil Corporation is planning to deal in petrochemicals such as polyethylene and polypropylene, to diversify its product portfolio, an official said.Dakwale told reporters earlier this month that the firm was planning to retail Euro III grade diesel following a request from Sri Lanka’s motor sector.It […]
Sri Lanka central hill city to get mixed development
Feb 18, 2013 (LBO) – A twin tower property project made up of apartments, hotel and restaurant will be built in the central hill city of Kandy by a firm promoted by expatriate Sri Lankans from the area, the island’s investment promotion office said. Sri Lanka’s Board of Investment said the project by GVR Lanka […]