Author: lbostgadmin
Sri Lanka hopes to lift Tamil Nadu travel advisory soon: minister
Sept 13, 2012 (LBO) – Sri Lanka hopes to lift an advisory warning citizens not to travel to India’s Tamil Nadu state soon, cabinet spokesman minister Keheliya Rambukwelle said.India’s central government has assured that protection will be given to Sri Lankan tourists in India. Indian media reports and several political parties had condemned the attacks […]
Land Connections
Sept 12, 2012 (LBO) – China State Construction Engineering Corporation Limited has been given a 40 billion rupees (303 million US dollars) contract to build roads and flyovers in Hambantota in the South. Cabinet spokesman minister Keheliya Rambukwelle said 85 percent of the financing will come from the Exim Bank of China and the balance […]
Sri Lanka stocks up 1.9-pct
Sept 12, 2012 (LBO) – Sri Lanka stocks rose 1.9 percent Thursday with saw penny stocks and key large caps moving up, extending a rally that began in late August, brokers said. The Colombo All Share Price Index rose 108.9 points to close at 5,777.22 and the S&P SL 20 index rose 1.93 percent to […]
Fake Lubes
Sept 12, 2012 (LBO) – There was a thriving business in Sri Lanka involving the sale of unlicensed lubricants, adulterated and counterfeited brands and recycling used oil, which can damage vehicles engines, industry officials said. Such products used by unwary consumers could damage vehicle engines, he warned. Sri Lanka’s lubricant market was estimated at 60 […]
Sri Lanka imports, exports, trade gap shrinks
Sept 12, 2012 (LBO) – Sri Lanka’s exports fell 17. 4 percent to 794.4 million US dollars in July 2012 from a year earlier, imports fell 24. 9 percent to 1,329.1 million US dollars and the trade gap fell 33.88 percent to 534.6 million US dollars, the Central Bank said. Sri Lanka’s exports were contracting […]
Sri Lanka working with China to clear coal plant hitches
Sept 12, 2012 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board and a Chinese contractor is working to rectify problems with the island’s first coal power plant and changes will be made to two others that have not yet been finished, officials said. He said Chinese and Sri Lankan engineers had come up with reports […]
‘s wear
Sept 12, 2012 (LBO) – Sri Lanka’s Orient Garments Ltd, a listed apparel exporter said a strategy of focusing on children’s had helped it survive a downturn in key Western markets, though both profits and revenues fell. In the year to March 2012, revenues of Orient Garment group fell 4. 7 percent to 3.41 billion […]
Sri Lanka stocks close up 1.3-pct
Sept 12, 2012 (LBO) – Sri Lanka closed up 1.38 percent in a day that a commodity broker and a finance company started trading for the first time, brokers said. Selinsing, an illiquid stock which rose 500 rupees with a single share being traded on Tuesday fell back 209 rupees to 1,390. Some poultry stocks […]
Sri Lanka Treasuries yields flat
Sept 12, 2012 (LBO) – Sri Lanka’s Treasury bill yields were flat across maturities at Wednesday’s auction, with only 7. 3 billion rupees of bills being sold out of 9.0 billion rupees offered, data from the state debt office showed. In 2011 rates were manipulated by ‘quantity easing’ along the yield curve involving large volumes […]
Petro Regulation
Sept 11, 2012 – Petroleum products are expected to be brought under Sri Lanka’s multi sector utilities regulator which is already overseeing the power sector, from the beginning of 2013, with enabling legislation now being drawn up, officials said. PUCSL director general Damitha Kumarasinghe said the regulator would allow reasonable costs to suppliers but will […]
Deputy Chief
Sept 11, 2012 (LBO) – Sri Lanka’s Securities and Exchange Commission has a appointed long time staffer Dhammika Perera as its deputy director general. He had headed the regulator’s investigation division for several years. SEC has an acting director general. The regulator ran into a controversy after two chairman were forced to resign under pressure […]
Gadol Brake
Sept 11, 2012 (LBO) – Sri Lanka’s new vehicle registrations have plunged 48 percent in June 2012 from a year earlier in the wake of higher taxes and currency depreciation with three wheelers falling the most, official data showed. In the six months to June total vehicle registrations were down 5.7 percent to 234,388. Motor […]