Author: lbostgadmin
Time Please
Apr 24, 2012 (LBO) – Two shareholders of Sri Lanka’s listed Nations Trust Bank have asked for more time to sell down their stakes to comply with a regulatory requirement, the firm said. Sri Lankan conglomerate John Keells Holdings holds 29.9 percent of the company and Central Finance hold 20 percent of the company. Sri […]
State Expansion
Apr 24, 2012 (LBO) – Sri Lanka’s state workers rose 1. 1 percent to 1.232 million after falling 7.2 percent a year earlier, with central and local government employees climbing 16,812 to 986,386 though state agency workers fell, official data showed. Analysts say trimming the public sector and paying better wages would reduce the burden […]
Mid-sea Drama
Apr 24, 2012 (LBO) – An European Union warship has rescued six Sri Lankan fishermen from Somali pirates off the coast of Tanzania, who would be flown home, the EU delegation in Colombo said. A Spanish warship Infanta Elena, which is part of an EU Naval force had boarded the fishing vessel which had been […]
Sri Lanka shares end down 0.2-pct
April 24, 2012 (LBO) – Sri Lankan shares closed weaker Tuesday in lacklustre trading with turnover remaining low and interest mainly on low value speculative stocks, brokers said. The main All Share Price Index fell 0.24 percent (13.28 points) to 5,441.78, while the more liquid Milanka index fell 0.35 percent (16.94) to close at 4,888.85. […]
Sri Lanka rupee hits new low
Apr 24, 2012 (LBO) – Sri Lanka’s rupee hit a new low of 132. 20 against the US dollar in the spot market mid-morning trade Tuesday dealers said, as money markets remained liquid and overnight interest rates were below a recently hiked policy rate. The rupee was quoted at 132.10/40 in mid-morning trade after opening […]
Sri Lanka bank credit fall from peak in February
Apr 23, 2012 (LBO) – Sri Lanka’s commercial banks loaned 55.3 billion rupees to private business in February 2012 higher than in January and state credit also remained strong but eased from records volumes a month earlier, official data showed. The data also contains the effects of currency depreciation after authorities allowed the rupee to […]
Chairman
Apr 23, 2012 (LBO) – Mohan Pieris, a former attorney general of Sri Lanka has been appointed chairman of Seylan Bank, a listed bank which was put under a state management following a run. Seylan Bank said he has 37 years of experience as lawyer. In 1978 he qualified as a solicitor of the supreme […]
Port Gains
April 23, 2012 (LBO0 – The state-owned authority which runs Sri Lanka’s ports increased operating profits last year as its spending fell and ship traffic and cargo volumes grew despite the global economic slowdown. The total cargo handled by the SLPA increased by 6.2 percent to 65.1 million metric tons in 2011 from the year […]
Sri Lanka shares end down
April 23, 2012 (LBO) – Sri Lankan shares closed lower Monday and turnover fell back to low levels despite some enthusiasm seen last week after regulators lifted price restrictions that triggered a knee-jerk rally, brokers said. Citrus Leisure W0018 warrants were also actively traded, ending at 2.10 rupees, down 1.70 while Environmental Resources Investments close […]
Sri Lanka rupee weak, money markets liquid -Update
Apr 23, 2012 (LBO) – Sri Lanka’s currency weakened Monday to above 131 rupees to US dollar after opening at 129.90/130.20 levels against the US dollar in the spot market while money markets were liquid, dealers said. In late afternoon trade the rupee was quoted as low at 131. 50/70 near historic lows, after recovering […]
Sri Lanka state airline loses Rs19.1bn in 2011
Apr 22, 2012 (LBO) – State-run SriLankan Airlines has made an operating loss of 19. 1 billion rupees in 2011, up from a group net loss of 6.03 billion rupees in 2010, a budget carrier has lost 455 million rupees, official data shows. SriLankan Airlines’ revenues had grown 16.3 percent to 78.9 billion rupees in […]
New ILO-World Bank study suggests tools to tide over economic shocks
April 21, 2012 (LBO) – Policymakers across the world should to develop a more robust labour market and expand workers social insurance cover, to tide over future economic shocks, a new report said. With a sample of 77 countries significantly affected by the crisis, representing 89 percent of global GDP and 86 percent of world […]