Author: lbostgadmin
Sri Lanka halts power cuts
Sept 06, 2012 (LBO) – Sri Lanka has halted daily power cuts that came into effect last month after a coal fired power plant that was crucial to the system broke down, until further notice, the ministry of power and energy said. Data from the Ceylon Electricity Board shows about 25 percent of the energy […]
Golden Plan
Sep 06, 2012 (LBO) – Pure Gold, a Dubai based group wants to set up a chain of 30 outlets in Sri Lanka selling 18 carat gold jewellery by 2016, the island’s industries ministry said in a statement. Bank of Ceylon and Commercial Bank of Ceylon are the top suppliers of gold, and in 2011 […]
Sri Lanka business forum on Mekong area opportunities on Sept 20
Sept 06, 2012 (LBO) – Sri Lanka’s Ceylon Chamber of Commerce said it is holding a business forum with the participation of the World Bank’s International Finance Corporation is to discuss opportunities in the Greater Mekong region in South East Asia. Dorabawila will speak on ‘South-South Business Development and Investment for Sri Lanka: Opportunities and […]
Sri Lanka Vietnam trade up 51-pct in first six months: envoy
Sept 06, 2012 (LBO) – Two way trade between Sri Lanka and Vietnam reached 64 million US dollars in the first six months of the year, up 51 percent from a year earlier, Hanoi’s envoy to Colombo Ton Sinh Thanh said. “It is estimated that in the first nine months, the total trade between the […]
Not Firms
Sept 06, 2012 (LBO) – Sri Lanka’s Securities and Exchange Commission said there were no investigations into companies themselves that were named in recent media reports as being probed by the regulator in relation pump and dump frauds. “The SEC wishes to categorically mention that there are no ongoing or pending investigations at present in […]
Business Services
Sept 06, 2012 (LBO) – SREI Infrastructure Finance Ltd of India has tied up with Arinma Holdings (Pvt) Ltd, a Colombo based firm to explore infrastructure opportunities in Sri Lanka as the island emerges from a 30-year civil war. The collaboration is targeting opportunities in advisory, equipment rental for the construction and healthcare sectors, and […]
Sri Lanka stocks close up 0.3-pct
Sept 06, 2012 (LBO) – Sri Lanka stocks closed up for the eighth straight trading session gaining 0.3 percent helped a steep rise in Commercial Leasing and Finance Company boosting the index, brokers said. Asiri Surgical rose 20 cents to close at 8.30 rupees, Bogowantalawa Tea Estates closed up 80 cents at 16.70 rupees. John […]
Transparent Pricing
Sept 05, 2012 (LBO) – Indian Oil Corporation’s Sri Lanka unit, Lanka IOC has called for a pricing formula for retail fuels which keeps parity with import prices a call that has been echoed by other economists and analysts. “It would help everyone if the Government of Sri Lanka could evolve a long-term pricing formula […]
Sri Lanka apparel exports buoyed by US demand
Sept 05, 2012 (LBO) – Brandix, a top Sri Lankan apparel exporter has seen strong demand from the US helping offset a slump in Europe demand helping keep revenue growth in positive territory, an official said. Sri Lanka’s apparel exports fell 1.6 percent to 1.98 billion rupees in the first six months of 2012, with […]
Sri Lanka Treasury bill yields up
Sept 05, 2012 (LBO) – Sri Lanka’s Treasury bill yields edged up slightly across maturities at Wednesday’s auction with the 12 month yield gaining 05 basis points to 13.36 percent, data released by the state debt office showed. The 6-month yield also rose 05 basis point to 13.12 percent and the 3-month yield rose 03 […]
Sri Lanka expects to commission 24MW power plant in Jaffna
Sept 04, 2012 (LBO) – Sri Lanka expects to connect a 24MegaWatt heavy fuel oil fired power plant to boost supply to the northern Jaffna peninsula by January 2013, the island’s power ministry said. The 4.0 billion rupees plant is designed and built for the Ceylon Electricity Board by Lakdhanavi, an affiliated firm. Three 8.6MW […]
India promises safety as Sri Lankans tourists attacked for second day in Tamil Nadu
Sept 04, 2012 (LBO) – India’s central government is taking measures to ensure the safety of visiting Sri Lankans to the country, an Indian foreign ministry spokesman has said as tourists were targeted by Tamil Nadu protestors for the second day. On Monday Sri Lanka issued a travel advisory asking citizens not to travel to […]