Author: lbostgadmin
US official visits Sri Lanka on de-mining
May 02, 2012 (LBO) – A senior United States official in charge of security assistance programs and policy had visited Sri Lanka and for talks with defence officials and to see the progress on de-mining, the US embassy in Colombo said. He had also visited Kilinochchi and Vavuniya, where a 30-year civil war ended in […]
Breaking Ground
May 2, 2012 (LBO) – Sri Lanka’s Hemas Holdings PLC group on Wednesday broke ground for their third hospital, catering to tens of thousands of people living in the east of the capital of Colombo, an official said. Situated in Thalawatugoda, some 14 kilometers off Colombo, the 1.3 billion rupee 50-bed hospital is due to […]
Union Margins
May 02, 2012 (LBO) – Sri Lanka’s Union Bank group’s net profits for the March 2012 quarter were up 21. 8 percent from a year earlier, helped by stronger interest and foreign exchange income, interim accounts showed. But Union Bank said its gross non-performing loans (without interest in suspense) fell to 4.6 percent from 5.51 […]
‘s Treasuries yields up
May 02, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across maturities at Wednesday’s auction with 12. 4 billion rupees of bills being sold, the state debt office said. The 3-month yield rose 18 basis point to 12. 11 percent, the 6-month yield rose 15 basis points to 12. 20 percent and the 12-month yield […]
Sri Lanka rupee in volatile ride
May 02, 2012 (LBO) – Sri Lanka’s rupee went on a wild ride Wednesday in thin trade in a market where there is little depth and uncertainty is high among dealers, market participants said. The rupee eventually closed around 127.70/128.50 The rupee traded as low as 131.00 to the US dollar and strengthened as much […]
Sri Lanka assess risks across key tourist spots
May 01, 2012 (LBO) – Sri Lanka has completed preliminary work assessing the risks of most frequented tourist sites, as the island beefs up its leisure products to welcome more holidaymakers, officials said. The project was mooted, after an Australian tourist accidently died after walking-off the Hortain Plains in the central mountain regions last year, […]
’s Dambulla area, not affecting tourists
May 01, 2012 (LBO) – Foreign visitors continue to tour Sri Lanka’s central regions, despite ongoing religious tensions where Buddhist monks have demanded a 60-year-old mosque be relocated, a tourism industry lobby said. Hakeem alleged that “extremist forces” were trying to stir trouble, to fan religious tensions across the island that is emerging after the […]
Location Lure
May 01, 2012 (LBO) – China Merchants Holdings International which is building a deep-water container terminal in Colombo port is interested in investing in other Sri Lankan ports as well, an official said. Sri Lanka’s advantages make it a strong contender to be developed as a modern port with the right investment and support of […]
Sri Lanka pays back money printed in April
May 01, 2012 (LBO) – Sri Lanka’s Treasury has repaid most of the money borrowed from the banking system including printed money from the Central Bank to meet seasonal salary needs of state workers, a top official said. “Instead of Treasury bonds and long term securities there has been a preference for to less than […]
Sri Lanka, emerging countries should be watchful about Europe: IMF official
Apr 30, 2012 – (LBO) – Though the global economy is showing signs of improving, a slowing Europe and debt troubles which Sri Lanka and emerging Asia should watch, an International Monetary Fund official said. European fallouts could hurt emerging Asia through trade and financial channels, IMF’s resident representative Koshy Mathai said, at an economic […]
Sri Lanka and India ratings could be hurt by oil subsidies: S&P
Apr 30, 2012 (LBO) – Sri Lanka and India could face credit downgrade if oil prices rise further and energy subsidies are not reduced, Standard and Poor’s said in an Asia-Pacific report. “In India and Sri Lanka, we expect fuel and related subsidies to markedly worsen fiscal and external deficits unless subsidy levels fall,” Standard […]
‘s April inflation accelerates to 6.1 percent
Apr 30, 2012 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 6. 1 percent from a year earlier, accelerating from 5.1 percent in March, the state statistics office said. The index rose 0.6 percent in the month to 159.8. The food and non-alcoholic beverages component rose 1. 0 percent and non-food items rose […]