Author: lbostgadmin
‘ Choice 2013 rankings
Jan 27, 2013 (LBO) – Sri Lanka has been added to a list of 14 Asian countries where popular hotels are ranked annually by TripAdvisor.com, a travel review site, though no hotel in the island made it to the world’s best 25 hotels. Maldives had three hotels in the top 25, Baros Maldives, North Male […]
Sri Lanka Treasuries yields fall
Jan 22, 2013 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the 6-month yield falling as much as 17 basis points to 10.41 percent, data from the state debt office showed.The 3-month yield fell 12-basis points to 9.63 percent and the 12-month yield fell 01 basis point to 11.25 percent. […]
Sri Lanka needs price formula for petroleum, electricity: power minister
Jan 21, 2013 (LBO) – Sri Lanka needs a cost based price formula for electricity and petroleum, power minister Patali Ranawaka has said.The rupee fell from 110 to 134 to the US dollar during the crisis. There was a steep energy price hike in February 2012 and the rupee has since strengthened to 126.50 to […]
Sri Lanka printer gets top green rating
Jan 21, 2013 (LBO) – Sri Lanka’s Aitken Spence Printing said its new printing facility had received a ‘Gold’ rating from in Leadership in Energy and Environmental Design (LEED) from US-based Green Building Council. The company’s new 77,000 square feet facility near Sri Lanka’s capital Colombo, was given LEED-NC (New Construction): GOLD Certification, the firm […]
OTT Revolution
Jan 21, 2013 (LBO) – Asian mobile operators are likely to see sharp falls in short message service (SMS) revenues as subscribers shift to services like WhatsApp which allow unlimited texting, an economic research consultancy has said.In December 2012, WhatsApp had processed 7 billion inbound messages and 11 billion outbound messages worldwide on December 31. […]
Pirate Poser
Jan 21, 2013 (LBO) – Sri Lanka’s southern port of Galle has become a hub in the fight against Somali pirates who threaten international merchant shipping, a report in a new magazine said. “Sri Lanka is one of the few countries in the region to authorise the transit of armed guards through their waters for […]
Sri Lanka bond auction yields flat
Jan 21, 2013 (LBO) – Sri Lanka’s 08 and 15-year bond yields were flat at Monday’s auction, unchanged from January 10, data from the state debt office showed, while three year bonds were sold at near secondary market rates, dealers said.Bond maturing on May 01, 2021 (8 years and 4 months) were sold to yield […]
Sri Lanka Commercial Credit to sell 20-pct debentures
Jan 21, 2013 (LBO) – Commercial Credit and Finance Plc, is selling 250 million rupees of 5-year debentures paying of 20 percent a year with an option to sell further 250 million rupees worth if there is strong demand, managers to the issue said.Merchant Bank of Sri Lanka, which is managing the sale said, interest […]
Bus Bailout
Jan 20, 2013 (LBO) – Sri Lanka Transport Board, a loss-making state bus utility has been given a 2.8 billion rupee bailout from tax payer money, the state information office said.In 2011 the SLTB had being given a 3.939 billion rupee subsidy on top of a 4.6 billion rupee cash handout the year earlier, according […]
UN flays Sri Lanka Chief Justice removal
Jan 19, 2013 (LBO) – The controversial removal of Sri Lanka’s Chief Justice Shirani Bandaranayake through a process courts have ruled to be unconstitutional is a “calamitous setback” for rule of law, a United National official has said. “The removal of the Chief Justice through a flawed process which has been deemed unconstitutional by the […]
US officials to visit Sri Lanka for LLRC talks
Jan 19, 2013 (LBO) – Three US officials led by deputy assistant secretary James Moore will visit Sri Lanka from January 26 for talks which include progress on implementing recommendations of a post-war reconciliation report, the US embassy in Colombo said. He will be accompanied by Deputy Assistant Secretary of Defense Vikram Singh and Deputy […]
Finance Rating
Jan 19, 2013 (LBO) – Sri Lanka’s Vallibel Finance Ltd has been rated ‘BB+’ with a stable outlook by RAM Ratings Lanka. “Vallibel’s ratings are moderated by the increasing trend in new non-performing loans (NPLs) in recent times, coupled with its unseasoned loan portfolio, given aggressive loan Growth,” RAM Ratings Lanka said. “The ratings are, […]