Author: lbostgadmin
Boat Protection
May 19, 2012 (LBO) – Sri Lanka will make boats more expensive for fishermen in a bid to fatten the profits of boat builders, the island’s industries ministry said, in the latest in a series of move to restrict economic freedoms of citizens. Fishermen had won the freedom to import boats freely after a tsunami […]
Sri Lanka consumer durables retailer March net up
May 17, 2012 (LBO) – Singer (Sri Lanka) Plc, a top consumer durables retailer said sales were strong despite currency depreciation in the first quarter as harvests were good in rural areas, thought television sales fell. In the March 2012 quarter profits grew 35 percent to 337 million rupees. The firm reported earnings of 2. […]
Sri Lankan shares flat
May 18, 2012 (LBO) – Sri Lanka’s tiny stock market closed flat on Friday on lacklustre trade, with buying interest in selected blue chip counters, brokers said. The 280-stock All Share Price Index added 3.38 points or 0.06 percent to close at 5,224.91, while the 25-stock Milanka Price Index crept-up 15.49 points or 0.33 percent […]
Sri Lanka bond yields ease
May 18, 2012 (LBO) – Sri Lanka’s bond yields edged lower as more money as earlier increases in rates drew more money into the market, and short term rates fell below this week’s auction prices dealers said. During the current balance of payments crisis the rupee fell from 110 to 130 to the US dollar. […]
Overseas Sri Lankan status to precede dual citizenship: minister
May 17, 2012 (LBO) – Sri Lanka will introduce an ‘Overseas Sri Lankan’ status for people who have renounced citizenship and their children which will be followed by dual citizenship later, minister Lakshman Abeywardene said. ‘Overseas Sri Lankans’ would be able to come and reside in the country dual citizenship will be given after a […]
Sri Lanka Ceylinco Insurance March net down 23-pct
May 17, 2012 (LBO) – Profits at Sri Lanka’s Ceylinco Insurance in the March 2012 quarter fell 23 percent to 220 million rupees, from a year earlier, though premium income rose 13 percent to 5. 5 billion rupees, interim accounts showed. The firm reported earnings of 8.35 rupees for the quarter. The stock traded at […]
’s cabinet clear release of ex-army chief
May 17, 2012 (LBO) – Sri Lanka’s cabinet of ministers on Thursday agreed to free jailed former army chief Sarath Fonseka, President Mahinda Rajapakse’s aide said, paving the way for the retired four star general’s imminent release. Fonseka lead troops in a spectacular military campaign against the Tamil Tiger rebels that ended the island’s decades […]
Retail Diagnostics
May 17, 2012 (LBO) – Sri Lanka’s Lanka Hospital Corporation said it will set up a diagnostic laboratory network with India’s Fortis Healthcare in which it will invest 831 million rupees over the next two years. Lanka Hospitals, a unit of state-run Sri Lanka Insurance, will float a fully owned unit to operate the labs. […]
Sri Lanka tea farmers oppose imports
May 17, 2012 (LBO) – Sri Lanka’s large tea growers have opposed a proposal by major exporters to import teas for re-export to make the island a global hub for blending and packing to retail markets. The Planters’ Association of Ceylon (PA), an industry body of large tea farms producing 30 percent of the tea […]
Sri Lanka ships less tea, benefits from weak rupee in first quarter 2012
May 17, 2012 (LBO) – Sri Lanka, one of the world™s biggest exporters of black tea, shipped less brew during the first quarter of this year, but a weak rupee helped maintain export revenues, a report said. From January to March, the tropical island sold 75.8 million kilos of tea to overseas buyers, which was […]
Sri Lanka stocks flat, turnover third lowest for the year
May 17, 2012 (LBO) – Sri Lankan share prices were virtually flat on Thursday, with a lack of investor appetite, when trading dominated by small sized stocks, brokers said. Colombo’s broader All Share Price Index, crept up 0.01 percent or 0.76 points to close at 5,214.44, while the more liquid Milanka Price Index slipped 3. […]
Break Even
May 16, 2012 (LBO) – Lanka IOC, a unit of Indian Oil Corporation made profits of 41 million rupees in the March 2012 quarter, recovering from a 111 million rupee loss a year earlier interim accounts showed. Petrol and diesel retail prices were raised in February. The firm reported earnings of 8 cents per share. […]