Author: lbostgadmin
Sri Lanka shares end down 0.4-pct
April 17, 2012 (LBO) – Sri Lankan shares closed weaker Tuesday with turnover beginning to pick up from low levels after a long holiday with interest still mainly on ‘penny stocks’, brokers said. Swarnamahal Financial Services, which has also been actively traded in recent days, closed flat at nine rupees. Seylan Developments also saw some […]
Sri Lanka Bank of Ceylon hires foreign banks to sell bond
Apr 17, 2012 (LBO) – Sri Lanka’s state-owned Bank of Ceylon has hired several foreign banks to arrange bond investor meetings in Asia, Europe and the US ahead of a planned new bond issue. It has hired Bank of America Corp. , Citigroup Inc. and HSBC Holdings to arrange bond investor meetings, Bloomberg news agency […]
Sri Lanka expected global shock to slow credit: CB Governor
Apr 16, 2012 (LBO) – Sri Lanka expected a global slowdown to moderate credit in the second half of 2012 and did not tighten monetary policy but spent foreign reserves to maintain growth, a top official said. Reserve Risk Sri Lanka sterilized the balance of payments amid warnings from both the International Monetary Fund and […]
Sri Lanka policy uncertainty deterring investment: ADB
April 16, 2012 (LBO) – Private investment in post-war Sri Lanka has not risen as anticipated because it still lacks a “predictable policy environment” which creates uncertainties for businesses, the Asian Development bank has said. The outlook is for moderate but still strong growth in Sri Lanka in 2012, the bank forecast in its Asian […]
‘s
Apr 16, 2012 (LBO) – The resumption of a loan program with the International Monetary Fund is positive for Sri Lanka’s ‘B1’ credit rating, as it will help boost investor confidence, Moody’s Investors Service said. “The disbursement is credit positive because it will help restore investor confidence and shore up foreign exchange reserves, which had […]
SriLankan Airlines adds flight to Jeddah
April 16, 2012 (LBO) – Sri Lanka’s national carrier is increasing its seat capacity to Saudi Arabia by adding a 314-seater Airbus A340 to cater to increased demand from special groups travelling to observe religious rites. The new service on its Colombo Jeddah route will operate every Sunday commencing from May 06 and continue until […]
Vibration Message
Apr 16, 2012 (LBO) – An Indian computer student has developed an application that enables the blind and deaf to send and receive SMS on mobile phones by converting them into Morse code vibrations, a news report said. œBraille devices can be expensive,” said Mehta. “The idea of PocketSMS takes advantage of the old Morse […]
Sri Lanka shares end up 0.2-pct
April 16, 2012 (LBO) – Sri Lankan shares closed firmer Monday after a long weekend owing to traditional new year holidays last week with trading still at low levels and focussed on ‘penny stocks’, brokers said. The main All Share Price Index rose 0.15 percent (8.27 points) to 5,434.00, while the more liquid Milanka index […]
Postal Woes
Apr 15, 2012 (LBO) – Sri Lanka has seen a steep drop in the use mail in 2011, while telecom services continued to expand, increasing losses of a state-run postal service, official data showed. Central Bank data showed that letters per inhabitant dropped to 33. 3 percent to 12 in 2011 from 18 a year […]
Sri Lanka CEB loses Rs25.5bn, debts balloon
Apr 14, 2012 (LBO) – Sri Lanka’s state-run power utility, the Ceylon Electricity Board has lost 25. 5 billion rupees in 2011 and run up debts of 121 billion rupees with a petroleum distributor and independent power producers. Data in the Central Bank’s annual report said power generation rose 7. 5 percent to 11,521 GigaWatt […]
‘s Lagarde
Apr 13, 2012 (LBO) – The world has to restore sound public finances, while some are forced to cut deficits fast others have to do it slowly, Christine Lagarde the managing director of the International Monetary Fund has said. Lagarde said loose monetary policy (money printing) could support where inflation remains in check but emerging […]
Sri Lanka tea prices rise again
April 12, 2012 (LBO) – Prices of Sri Lanka’s low grown teas, which account for the bulk of the crop, rose again at last week’s auction and are now well above last year’s levels, brokers said. “In view of the present adverse weather conditions, global crop production looks bearish with Kenya, Sri Lanka and North […]