Author: lbostgadmin
Sri Lanka CEOonline resource centre launched
Apr 11, 2012 (LBO) – An online resource centre with the participation of prominent business leaders, chief executives, academics and economists has been launched in Sri Lanka allowing readers to interact with them and share ideas. portal (www.ceoonline.lk) allows readers to reach more than 50 senior corporate executives, academics and researchers who serve as honorary […]
Sri Lanka state enterprises urged to adopt market pricing
April 11, 2012 (LBO) – Sri Lanka’s central bank has called on loss-making state enterprises to ensure financial viability by better management and market pricing to reduce reliance on the budget and borrowings that cause macro-economic problems. It said that in 2011, policy measures were initiated by the government to improve the performance of SOEs […]
Sri Lanka may see tsunami waves after 4.00 pm: PTWC
Apr 11, 2012 (LBO) – A tsunami watch has been issued for many areas in the Indian Ocean following an earthquake, by US authorities in Hawaii, who said waves could reach Sri Lanka shortly after 4. 00 pm if a tsunami had been generated. In December 2004 an tsunami from a much larger quake (9. […]
Sri Lanka issues tsunami evacuation order
Apr 11, 2012 (LBO) – Sri Lanka has issued a tsunami evacuation asking residents in coastal areas to move to safer areas inland, following a strong earthquake in Indonesia. The department of meterology said residents in Eastern and Southern coastal areas should move inland quickly. Tsunami waves are expected to first hit the Eastern and […]
Sri Lanka coastal residents evacuate on tsunami warning
Apr 11, 2012 (LBO) – Residents of Sri Lankas’ coastal regions rushed to safety after authorities issued an evacuation order following a strong earthquake in Indonesia which generated a tsunami. . Sri Lanka’s department of meterology said residents in Eastern and Southern coastal areas should move inland quickly. An eyewitness said residents in Galle, a […]
Indian Ocean tsunami watch cancelled
April 11, 2012 (LBO) – A tsunami watch issued by the Pacific Tsunami Warning Center in Hawaii for the Indian Ocean, which prompted Sri Lanka to ask coastal residents to move to high ground, has been cancelled. Residents of Sri Lankas’ coastal regions rushed to safety after authorities issued the evacuation order following a strong […]
Six Senses Resorts bought by US PE firm
Apr 11, 2012 (LBO) – Pegasus Capital Adivsors, a US based private equity firm had struck a deal to buy Bangkok-based Six Senses Resorts and Spas brand, though real estate assets will remain with the founders. Six Senses Resorts and Spas has properties under management in Asia, the Middle East, the Americas and Europe. Six […]
Sri Lanka Citrus Leisure unit to build hotel
April 11, 2012 (LBO) – Waskaduwa Beach Resort, a subsidiary of Sri Lanka’s listed Citrus Leisure, plans to build a 150-room four-star hotel costing 23. 8 million US dollars on a property on the south coast. The hotel, ‘Citrus Waskaduwa’, consisting of a presidential suite, nine deluxe rooms, 140 ‘superior rooms’, banquet facilities and spa […]
Sri Lanka shares end up 0.6-pct
April 11, 2012 (LBO) – Sri Lankan shares closed firmer Wednesday although trading remained low ahead of traditional new year holidays later in the week, brokers said. The main All Share Price Index rose 0.62 percent (33.39 points) to 5,425.73, while the more liquid Milanka index rose 0.65 percent (31.57) to close at 4,909.30. Turnover […]
Sri Lanka rupee weakens in intra-day trade
Apr 12, 2012 (LBO) – Sri Lanka’s rupee dipped close to 130 to the US dollar after opening around 127. 80/128.20 in the spot market, amid buying from foreign banks, dealers said. . The rupee was quoted as low as 129.50/130.00 in late morning trade but gained later with demand falling off, dealers said. Sri […]
Sri Lanka aims at forex reserves of 4.5 months of imports: CB Governor
Apr 10, 2012 (LBO) – Sri Lanka would aim to maintain foreign reserves equal to 4. 5 months of imports with balance of payments surplus of 1.2 billion US dollars projected for 2012, Central Bank Governor Nivard Cabraal said. “A level of 4.5 months (of imports) is comfortable,” Cabraal told reporters. “If it goes down […]
Sri Lanka unemployed down to 4.2-pct: data
Apr 10, 2012 (LBO) – Sri Lanka’s unemployment fell to 4.2 percent in 2011 from 4.9 percent a year earlier with more people being employed in agriculture and industry, official data showed. The Central Bank quoting a survey by the statistics office said total unemployed fell to 342,000 from 401,000 a year earlier. People working […]