Author: lbostgadmin
Price Cuts
July 06, 2012 (LBO) – India’s Bajaj Auto has cut prices for Sri Lanka between 5 to 14 percent after an excise duty hike in the island slashed sales, which was 17 percent of its total exports, a media report said. India’s Economic Times said Sri Lanka accounted for 5-7 percent of total sales and […]
Sri Lankan stocks up 0.08 percent
July 06, 2012 (LBO) – Sri Lankan share prices snapped a four-day loosing streak to rise marginally by 0.08 percent on Friday, with activity centred around Central Finance PLC and few small cap stocks, brokers said. PC House Holdings, a computer peripheral company, slipped 50 cents to 13.40 rupees on 3.7 million shares, largely on […]
Sri Lanka excess liquidity up, rates lower
July 06, 2012 (LBO) – Excess liquidity in Sri Lanka’s interbank markets have topped 20 billion rupee over the past three days easing tighter monetary conditions that prevailed a week earlier, official data show. If not the Central Bank will have to sell the collected dollars to prevent the exchange from being depreciated by the […]
Sri Lanka expropriated sugar firms begin to hit tax payers
July 05, 2012 (LBO) – Two sugar mills expropriated by the state last year has begun to burden ordinary citizens with the finance ministry channeling 557 million rupees from taxes extracted from the people to the firms. A mid-year fiscal report to parliament revealed that 550 million rupees had been given to cover day to […]
Sri Lanka power users asked to conserve energy
July 05, 2012 (LBO) – Sri Lanka’s power users should cut energy use by 10 percent to help avoid power cuts until more rain comes in the inter monsoonal period, power minister Champika Ranawaka said. “We will keep providing power. But if energy is conserved by another 5 percent, it will make it easier for […]
Sky Data
July 05, 2012 (LBO) –Sri Lankan firms engaging in large scale data operations could switch to storing information on remote centres over the internet, that could trim costs by up to 70 percent, IT officials said.
Merchant Rating
July 05, 2012 (LBO) – RAM Ratings Lanka has confirmed an ‘AA-‘ domestic long term rating of Merchant Bank of Sri Lanka and ‘P1’ short term rating of the company and a proposed billion rupee commercial paper. The full statement RAM Ratings Lanka reaffirms MBSL’s ratings at AA-/P1 RAM Ratings Lanka has reaffirmed Merchant Bank […]
Sri Lankan stocks slip 0.44 percent
July 05, 2012 (LBO) – Sri Lankan shares ended 0.44 percent lower on Thursday, on volumes of 25.7 million shares, with turnover driven by Malaysia’s Dialog Axiata Plc, brokers said. Commercial Bank, one of the country’s most profitable lender, saw its non-voting stock rise 40 cents to 74.00 rupees on 366,265 shares. Elsewhere, Lanka Walltiles […]
Sri Lanka spends Rs50bn on roads in five months
July 04, 2012 (LBO) – Sri Lanka has spent 70 billion rupees on highways, power, water and sanitation in the first five months of the year, with 50 billion rupees going to roads, a finance ministry report said. The finance ministry in a mid-year fiscal report said 36.8 billion rupees was spent on national roads, […]
Sri Lanka to build US$3bn tourism city with Singapore firm: BOI
July 04, 2012 (LBO) – Sri Lanka’s state investment promotion agency said it had inked a deal with a Singapore led consortium to build a 3 billion US dollar tourism city in Katana, north of the capital Colombo. Earlier reports had said that Sun City, a South Africa based firm will build an 800 million […]
Fast Trades
July 05, 2012 (LBO) – South Africa’s Johannesburg Stock Exchange (JSE) has started to use trading software by Sri Lanka based MillenniumIT, a unit of the London Stock Exchange group from July 02. The software is running live in 14 installations excluding JSE, the company said. The trading engine of the stock exchange has also […]
Lessons Learnt
July 04, 2012 (LBO) – Sri Lanka should implement several key measures contained in a report by a commission which studied lessons to be learnt from a recent civil war, some of which can be done without delay, a civil organization of professionals has said. Sri Lanka’s Organization of Professional Association, a civil society organization […]