Author: lbostgadmin
Sri Lanka biodiversity loss linked to exports to rich countries
The developed world’s insatiable appetite for products like coffee and timber is threatening the survival of one in three vulnerable animal species in poor countries, according to an Australian study. The study showed that in countries like Madagascar, Papua New Guinea, Sri Lanka and Honduras, 50 to 60 percent of biodiversity loss was linked to […]
Tele Trend
June 07, 2012 (LBO) – Sri Lanka’s mobile subscribers grew in single digits in the first quarter of 2012 from a year earlier and wireless fixed access users dropped from a quarter earlier, two years after telephones in use first exceeded the population. Wireline use picked up after Sri Lanka Telecom started to promote broadband. […]
Slowing Journey
June 07, 2012 (LBO) – Sri Lanka’s motor car registrations fell 16.1 percent in the first quarter of 2012 to 12,496, with a steeper 23.3 percent fall to 4,246 in the month of March, official data show. Interest rates on leases, which are used to buy cars, had gone up steadily since the last quarter […]
Investment Wave
June 07, 2012 (LBO) – Sri Lanka hopes to attract five billion dollars in foreign direct investments from the ports sector by 2014, which includes a project to build a formula one track on reclaimed land, a report said. Expanding Investor Mix Wickrama said foreign investors should also look at Sri Lanka, for its close […]
Sri Lankan stocks up 0.42 percent
June 07, 2012 (LBO) – Sri Lankan stock prices rose marginally on Thursday, on selected buying across key blue chip counters, brokers said. The All Share Price Index rose 0.42 percent or 20.23 points to 4,757.98, while the liquid Milanka Price Index gained 25. 09 points or 0.59 percent to close at 4,223.35, according to […]
Sri Lanka short term Treasuries yields fall
June 06, 2012 (LBO) – Sri Lanka’s short term Treasury bill yields fell as much as 15 basis points at Wednesday’s auction though one year yields edged up slightly, data from the state debt office showed. Before the advent of paper money and central banking, rulers debased money by mixing precious metals with cheaper metals […]
Full Ahead
June 6, 2012 (LBO) – Vehicle transshipment from Sri Lanka is getting underway, with Asia’s second largest automaking group starting to use a new port in the south of the island, where up to four vessels are expected to call each month. On June 17, another Hyundai Glovis car carrier, ‘Asian Legend’ will come to […]
Sri Lankan stocks dip 0.22 percent
June 06, 2012 (LBO) – Sri Lankan share prices slipped 0.22 percent on Wednesday, as investors cherry-picked selected counters, brokers said. The broader All Share Price Index fell 10.85 points to close at 4,737.75, while the more liquid Milanka Price Index dipped 0.22 percent or 9.54 points to end at 4,198.26, according to Colombo Stock […]
Mobile Trends
June 05, 2012 (LBO) – Mobile phone makers have shipped over two million units to Sri Lanka with a market value of 22. 4 billion rupees in 2011 with Nokia having a 46 percent share, a market research firm based in India has said. CyberMedia Research (CMR), a computer and electronic market research firm said […]
Sri Lanka CIC Holdings to invest US$14mn in expansion
June 05, 2012 (LBO) – Sri Lanka’s CIC Holdings PLC, with investments from agriculture to paints, plans to invest over 14 million dollars in the coming months, to expand dairy, poultry and healthcare business, an official said. The dairy segment, which includes fresh milk production to yoghurts, will see a 6. 5 million dollar investment […]
Sri Lankan stocks fall 2.8-pct
June 5, 2012 (LBO) – Sri Lankan share prices fell nearly three-percent on Tuesday, as the new trading restrictions for large blocks of shares came into effect, brokers said. The benchmark All Share Price Index dropped 2.79 percent or 136.58 points to end at 4,748.60, while the liquid Milanka Price Index fell 3.12 percent or […]
Sri Lanka calls for investments in import substitution
June 04, 2012 (LBO) – Sri Lanka’s finance ministry has called businesses to invest more in import substitution businesses, saying hundreds of millions of dollars are being spent to bring such goods from foreign countries. The finance ministry in its annual report said there was a “continued reliance” on importing food, pharmaceuticals, dairy products, textile, […]