Author: lbostgadmin
‘s Aitken Spence drops deal with Six Senses
Jan 04, 2013, (LBO) – Sri Lanka’s Aitken Spence, said it had dropped plans to build a hotel with Six Senses, an international hotel chain and the Favourite group, a domestic firm.Aitken Spence said in 2010 that is was planning to build a 35 million US dollar resort and spa with beachfront villa on a […]
Sri Lanka aims at inflation of 7.0-pct in 2013
Jan 03, 2013 (LBO) – Sri Lanka’s Central Bank aims to inflate the economy by about 7.0 percent in 2012 based on a monetary targeting framework where money supply and credit growth is taken into account.Delivering a monetary policy roadmap for 2013 Governor Nivard Cabraal said the Central Bank was will continue to aim for […]
Sri Lanka lecture by Monash University don
Jan 03, 2013 (LBO) – Sisira Jayasuriya, professor of economics at Monash University, Melbourne will deliver the fifth Gamani Corea Foundation lecture on Thursday January 10 at the Marga Institute in Kotte, organizers said.Jayasuriya’s research and policy advisory activities cover trade, macroeconomic, environmental and food policy issues in developing countries, with a focus on Asia. […]
” reserves, IMF deal talks ahead
Jan 03, 2013 (LBO) – Sri Lanka will not accumulate too much foreign reserves, but will maintain an amount that is comfortable for the economy and a deal with the International Monetary Fund is also on the cards, Central Bank Governor Nivard Cabraal said.Sri Lanka would have collected with about 6.8 billion US dollars of […]
Sri Lanka main airport to expand with Japan loan
Jan 03, 2013 (LBO) – State-run Airport and Aviation Services (Sri Lanka) Ltd, has signed up a 28.9 billion Yen loan from the Japan International Co-operation Agency for expansion, information minister Keheliya Rambukwelle said.. The funds will be used to expand the terminal building, widen an aircraft parking apron and related facilities. The project is […]
Full Cover
Jan 03, 2013 (LBO) – Mobitel, a unit of Sri Lanka Telecom is expanding its base stations by 1,800 to 3,500 which will result in 100 percent coverage of the population, the cellular operator said.The firm said it had opened ‘contact centres’ in Mullativu in the north and Sooriywewa in the south creating ICT based […]
Court Decision
Jan 02, 2013 (LBO) – Sri Lanka highest court has declared that a parliamentary committee has no legal authority to determine the guilt of the island’s chief justice in a controversial impeachment process that has drawn widespread condemnation.Sri Lanka Court of Appeal read out the decision of the Supreme Court after the legality of the […]
Sri Lanka gilt yields plunge for second straight day, stocks up
Jan 03, 2013 (LBO) – Sri Lanka’s government bond yields plunged over 100 basis points over two days with active trading in four and five year maturities, and stocks closed up, dealers and brokers said. A 5-year bond maturing on 15 August 18 opened at 11.20/25 percent levels, moved to 11.35/45 then buying dropped 10.60/65 […]
Sri Lanka to issue coin series to depict districts
Jan 03, 2013 (LBO) – Sri Lanka will issue coins with a face of 10 rupees to depict each district in the country in 2013, the Central Bank has said in a road map for monetary policy. Sri Lanka has 25 administrative districts. Central Bank Governor Nivard Cabraal also said Wednesday a program will be […]
Sri Lanka should cut losses, bank credit to state energy utilities: CB Governor
Jan 02, 2013 (LBO) – Sri Lanka should cut losses and bank credit taken by Ceylon Petroleum Corporation and Ceylon Electricity Board with better pricing in 2012, Central Bank Governor Nivard Cabraal said.Currency depreciation not only increases the price of energy itself, but also destroys the real value of current salaries and lifetime financial savings. […]
Borrowing Practices
Jan 02, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon has loaned nearly 140 billion rupees to customers in former war zones in the North and East and default rates are very low, a top official said.“We are happy to say NPAs (non-performing assets) since the war, in the North and the East taken […]
Sri Lanka relaxes forward forex curbs, bank open positions
Jan 02, 2013 (LBO) – Sri Lanka has relaxed curbs on foreign exchange forward deals introduced last year and widened the net open positions for banks with effect from today, Central Bank Governor Nivard Cabraal said.Cabraal said Sri Lanka was estimated to have posted a 100 million dollar surplus in the balance of payments in […]