Author: lbostgadmin
Sri Lanka entertainment resort by Indian gaming firm
June 12, 2012 (LBO) – India’s Delta Corp, a Bombay listed gaming firm said it had acquired 11 acres of land in Sri Lanka to build an entertainment resort complex near the island’s main international airport. Earlier Sri Lankan officials said that Delta Corp was also looking to lease an island in Kalpitiya. Update Delta […]
Sri Lanka May tourist arrivals up 17.5 percent
June 12, 2012 (LBO) – Tourist arrivals to tropical Sri Lanka, surged 17.5 percent in May, over the same month a year earlier, as visitors took advantage of the post-war peace three-years since the ethnic conflict ended. On Monday, the central bank said earnings from tourism arrivals had risen 26.0 percent to 340 million dollars […]
Sri Lanka shares dip 0.08 percent
June 12, 2012 (LBO) – Sri Lankan share prices slipped marginally, on thin volumes, as investors picked through selected stocks, brokers said. The main All Share Price Index slipped 0.08 percent or 3.89 points to close at 4,807.55, while the liquid Milanka Price Index nudged up 0.11 percent or 4.87 points to end at 4,269.25, […]
‘s foreign reserves at US$5.8bn by April
June 12, 2012 (LBO) – Sri Lanka’s foreign reserves rose to 5,835 million US dollars in April from 5,730 million US dollars in March, which was equal to about 3.3 months of imports, the Central Bank said. Though reserves are measured in months of imports, when a central bank sells foreign exchange to defend an […]
Sri Lanka rupee weakens to new low
June 12, 2012 (LBO) – Sri Lanka’s rupee was quoted as low as 133.60/90 to the US dollar in intra-day spot trade Tuesday and recovered following some selling by a state bank, dealers said as emerging data showed a gradual contraction in external trade. Last year import rose to unsustainable levels as the Central Bank […]
Sri Lanka overnight rates at new high amid forex pressure
June 12, 2012 (LBO) – Sri Lanka’s overnight interest rates rose to a high of 10. 50 percent Tuesday, the highest since a balance of payments crisis began in the middle of 2011, as the rupee sank to a new low against the US dollar. Excess liquidity (the aggregate clearing balance of the banking system) […]
Sri Lanka exports drop 9.2 percent April
June 11, 2012 (LBO) – Sri Lanka’s exports fell 9.2 percent to 680.1 million dollars in April, while the country’s import bill slipped 3.3 percent to 1,441.0 million dollars, due to slower sales of apparels and tea, official data showed. The bank said the average crude oil import price rose to 121.21 dollars per barrel […]
Debt Games
June 11, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) has run debts of 65 billion rupees with other state entities by May 31 and talks are on to clear them with a Treasury bond, a minister has said. Petroleum minister Susil Premjayantha has told parliament furnace oil is still being sold to […]
Sri Lankan Airlines to join Oneworld alliance
June 11, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines will join ‘oneworld’ next year with Cathay Pacific taking it through an implementation program as its sponsor, the global alliance of air carriers said. Sri Lanka’s capital Colombo is already served by oneworld members Cathay Pacific and Royal Jordanian, and member designate Malaysia Airlines. SriLankan’s […]
Sri Lanka, Vietnam in move to boost tourism
June 11, 2012 (LBO) – Sri Lanka and Vietnam are planning to boost tourism between the two countries after a visit by Vietnamese travel firms to Colombo which will be followed by a familiarization tour by Sri Lankan travel agents, officials said. Udaya Silva, Sri Lanka’s IATA travel agents association said he expected mutually beneficial […]
Credit Trends
June 11, 2012 (LBO) – Loans to private borrowers from commercial banks collapsed to just 18. 7 billion rupees in April 2012, from 55 billion rupees a month earlier, the lowest since June 2010, amid heavy state borrowing, official data showed. Loans to private borrowers from banks rose 34 percent from a year earlier to […]
Sri Lanka shares up 0.26 percent
June 11, 2012 (LBO) – Sri Lankan stock prices edged up Monday, on slim volumes with selected buying across blue chips counters, brokers said. JKH counter rose 1.30 rupees to 180.00 rupees on volumes of 146,832 shares. Carsons, with investments ranging from oil palms to beer manufacturing, was flat at 467. 00 rupees on trades […]