Author: lbostgadmin
Sri Lanka says open trade could counter climate change
June 01, 2012 (LBO) – Sri Lanka’s environment minister has said liberalised trade could mitigate climate change, helping spread energy-saving technologies and enabling countries facing scarcities to import to cover their requirements. Climate change was no longer an environmental and regulatory concern and was a growing crisis with economic, health and safety, food production and […]
Finance Loss
June 01, 2012 (LBO) – Sri Lanka’s The Finance Company Plc, which is under regulatory restructure lost 212 million rupees in the March 2012 quarter, sharply lower than the 2.0 billion it lost a year earlier. The firm reported losses of 1.33 rupees per share for the quarter. In the full year to March 2012 […]
‘s inflation accelerates to 7.0-pct in May
May 31, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.0 percent in May 2012 from a year earlier, up from 6.1 percent in April with the inflation index rising 1.4 percent in the month, the state statistics office said. In the past, a float of the currency to end a balance […]
Gas Trend
May 30, 2012 (LBO) – Sri Lanka’s Laugfs Gas Plc, which has interests in cooking gas distribution, emissions testing and leisure posted profits of 639 million rupees in the six months to March 2012, up 15 percent from a year earlier, interim accounts showed. The group reported earnings of 1. 39 rupees per share for […]
Sri Lanka to pitch for international sporting event
May 31, 2012 (LBO) – Sri Lanka plans to bid for another international sporting event shortly, an official said, months after spending hundreds of millions of rupees on a failed bid to win the 2018 Commonwealth Games. Vipuala Wanigasekera, Sri Lanka Tourism’s acting director general declined to specify the games, but said the bidding documents […]
Securities Fraud
May 31, 2012 (LBO) – Sri Lanka’s central bank should strip National Savings Bank’s directors off their posts, and prevent them from serving on boards in the future, after an attempt buy stock at an inflated price, a former securities regulator said. As pressure mounted from the regulators, the media and opposition legislators led by […]
Auto Profits
May 30, 2012 (LBO) – Sri Lanka’s Diesel and Motor Engineering Company Plc, which has agencies for Mercedes Benz and Tata, said profits fell 36 percent to 427 million rupees in the March 2012 quarter. The firm reported earnings of 48. 14 rupees for the quarter. The closed at 590 rupees up 18. 70 Thursday. […]
Sri Lankan stocks down 0.67%
May 31, 2012 (LBO) – Sri Lankan share prices slipped back into the red on Thursday, despite a few foreign buyers bargain hunting on selected stocks, brokers said. The broader All Share Price Index fell 32. 97 points or 0.67 percent to 4,832.15 while the liquid Milanka Price Index slipped 12. 88 points or 0.29 […]
Sri Lanka short term treasuries yields fall
May 29, 2012 (LBO) – Sri Lanka’s 3-month Treasury bill yield fell 57 basis points to 11. 01 percent, following the trend in secondary markets, while the 12-month yield edged up slightly at this week’s auction, official data showed. The 6-month yield fell 3 basis points to 12.29 percent and the 12-month yield rose 10 […]
‘s Hayleys Exports to develop property
May 30, 2012 (LBO) – Sri Lanka’s Hayleys Exports Plc, an exporter of coir fibre products said it is moving out of low value activities, revamping production facilities and developing prime land near north of the capital. The firm lost 8.0 million rupees in the year to March down from 49. 4 million rupees a […]
Sri Lanka Singapore businesses in trade push
May 30, 2012 (LBO) – Business chambers of Sri Lanka and Singapore has inked a deal to push trade and economic links between the two countries in the wake of visit by foreign minister K Shanmugam to the Indian Ocean island. Singapore Business Federation (SBF) and the Sri Lanka Singapore Business Council (SLSBC) affiliated to […]
Sri Lanka exports drop 10.2-pct in March, import growth slows
May 30, 2012 (LBO) – Sri Lanka’s exports dropped 10.2 percent to 835.7 million US dollars in March, a month that saw the steepest depreciation in years, while imports grew just 3. 9 percent to 1,697 million US dollars, pointing to a slowing economy. The central bank said industrial exports dropped 10.9 percent to 624.2 […]