Author: lbostgadmin
Sri Lanka US$60mn property project by Pakistan firm
Oct 11, 2012 (LBO) – Imperial Builders (Pvt) Ltd, a unit of Pakistan based Lakhani group is investing in a 60 million US dollar project to develop land in Sri Lanka’s capital Colombo, the island’s investment promotion agency said. Imperial Builders and Sri Lanka’s Urban Development Authority will build alternative accommodation for shanty dwellers in […]
Sri Lanka stocks close down 0.89 pct
October 11, 2012 (LBO) – Sri Lanka stocks continued a losing streak and closed down 0.89 percent Thursday with sharp drops seen in several counters earlier in the day, brokers said. The Colombo All Share Index closed at 5,720.86 down 51.66 points and the S & P SL 20 Index closed 34.82 points lower at […]
Regional trade forum in Sri Lanka to have SME focus
Oct 10, 2012 (LBO) – An Asia-Pacific trade forum to be held in Sri Lanka’s capital Colombo will have sessions focusing on small and medium enterprises and member of regional chambers in the island will take part, the island’s largest business chamber said. Local SME’s will have a special session to interact with speakers from […]
‘s Views
Oct 10, 2012 (LBO) – Recent assaults on the judiciary are attacks on the people, a group of concerned citizens have said following attempts to intimidate one of the country’s last remaining independence commissions and the assault of its secretary a senior judge. “Attacks on judicial independence are attacks on the people,” Friday Forum, a […]
Sri Lanka stocks close down 1.04 pct
October 10, 2012 (LBO) – Sri Lanka stocks closed down 1.04 percent Wednesday with several blue chip stocks losing ground. Commercial Bank slipped 0.20 cents to close at 111.80 rupees down 0.18 percent. DFCC Bank dropped 1.60 rupees to close at 115.20 rupees down 1.37 percent. Hatton National Bank closed at 113.00 rupees down 0.18 […]
Sri Lanka bond rates rise to straighten inverted yield curve
Oct 10, 2012 (LBO) – Sri Lanka’s bond rates have risen by 40 to 50 basis points over two days almost ending an inversion of the yield curve where short term Treasuries yielded higher than longer term gilts. But expectations of lower inflation in the future, which can shift more short term money to the […]
Sri Lanka Treasuries yields fall
Oct 10, 2012 (LBO) – Sri Lanka’s Treasuries yield fell at Wednesday’s auction with the 3-month yield falling as much as 37 basis points, data from the state debt office showed. The 6-month yield fell 33 basis points to 11.77 percent and the 12-month yield fell 19 basis points to 12. 48 percent. The debt […]
Sri Lanka raises alcohol taxes
Oct 09, 2012 (LBO) – Sri Lanka has raised taxes on alcohol ahead of a budget to be presented in parliament next month, a day after excise taxes on tobacco was raised, the island’s finance ministry has said. Taxes on wine has been raised to 898 rupees a proof litre from 838 rupees, molasses, palmyra, […]
Cell Rating
Oct 09, 2012 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating with a stable outlook citing support from its Malaysia-based parent and said its stand alone credit profile had improved to ‘AA ‘AA+(lka)’ from ‘AA(lka)’. “Dialog’s standalone credit profile is strong, and has improved between 2010 and 2012, helped by a benign competitive environment […]
Condemnation
Oct 09, 2012 (LBO) – The Ceylon Chamber of Commerce, Sri Lanka’s top business grouping has condemned an attack on a top official of an independent judicial commission, days after he complained of intimidation and interference by the executive. “The Ceylon Chamber of Commerce (CCC) notes with grave concern the attack on the Secretary of […]
Sri Lankans missing taste of good tea: top exporter
Oct 09, 2012 (LBO) – Mlesna, a top Sri Lankan tea brand, has begun advertising using displays on a new taxi service, aiming to popularise the island’s best known export among local consumers. Mlesna Tea founder Anselm Perera said he wants to make tea drinking more popular among local consumers and raise awareness about the […]
Sri Lanka says travel to Tamil Nadu safe for citizens
Oct 09, 2012 (LBO) – Sri Lanka has lifted a travel advisory to the Indian state of Tamil Nadu that was imposed in the wake of a series of attacks by Tamil political groups on visiting pilgrims from the island. “People-to-people contact plays an important role in the multifaceted India-Sri Lanka relationship, especially in further […]