Author: lbostgadmin
KLM sees passenger traffic rise in March
Apr 10, 2012 (LBO) – KLM group said passenger traffic increased 6.8 percent in March with load factor rising 3.8 percent to 82.5 percent with gains in Americas, Europe, Middle East and Asia, though cargo business fell. The airline said cargo traffic dropped 3.4 percent and load factor fell 2 percent to 69.2 percent. Traffic […]
Sri Lanka firm to plant rubber in Cambodia
April 10, 2012 (LBO) – Sri Lankan plantation company Kotagala Plantations plans to plant 20,000 hectares of rubber in Cambodia, it said in a stock exchange filing. Kotagala Plantations has 12 tea and 11 rubber plantations in Sri Lanka. It has eight rubber manufacturing units, producing pale crepe and sole crepe. The total value of […]
Rolling Loss
April 10, 2012 (LBO) – Losses at Sri Lanka’s state-run railway rose in 2011 despite the acquisition of more rolling stock and increased carriage of passengers and goods, the central bank said. At present, SLR’s contribution to passenger and freight transportation remains as low as five percent and one percent, the central bank said. “In […]
Sri Lanka shares becalmed
April 10, 2012 (LBO) – Sri Lankan shares closed almost stagnant Tuesday with trading still at low levels ahead of traditional new year holidays later in the week, brokers said. Swarnamahal Financial Services was the most actively traded stock, closing at 8. 80 rupees, up 30 cents while Piramal Glass was also actively traded, ending […]
Sri Lanka revenue crunch continues in 2012
Apr 09, 2012 (LBO) – High state spending is continuing to put pressure on the economy with billions of rupees being printed in April to meet expenses on top of earlier bank borrowings, official data shows. In countries with more stable currency pegs, such as Hong Kong or Singapore, seasonal cash demands are met, not […]
Sri Lanka to spend Rs89bn on war zones, rapid normalcy: President
Apr 09, 2012 (LBO) – Sri Lanka is planning to spend 89 billion rupees to re-build former war zones in the north and the east in 2012 to bring the areas to normalcy, President Mahinda Rajapaksa said. He said de-mining has been accomplished fast and ahead of predictions, and most displaced families were already resettled. […]
Oil Storage
April 09, 2012 (LBO) – Indian Oil Corp. ‘s Sri Lanka unit plans to invest about 35 million US dollars to expand an oil tank farm in the eastern port of Trincomalee to store and export products, an official said. Since taking over operations of the China Bay tank farm ten years ago in 2002, […]
Appeals
Apr 09, 2012 (LBO) – The two latest disappearances in Sri Lanka has prompted appeals from family members and the Australian envoy to Colombo as one of the disappeared is a national of that country, media reports said. An Australian media report said Gunaratnam’s wife had pleaded for his release from Australia. On January 03, […]
‘s Citrus Leisure beach property ownership disputed
April 09, 2012 (LBO) – The ownership of a prime beach front property the listed Citrus Leisure bought on Sri Lanka’s east coast for 169 million rupees is now being disputed in court. The newspaper said the land, owned by two Swiss nationals, had been illegally sold by a local party to other local parties […]
Sri Lanka Browns to build Rs1.75bn hotel
April 09, 2012 (LBO) – Sri Lanka’s Browns Investments is to build a 150-roomed hotel on the south coast at an estimated cost of 1.75 billion rupees and scheduled to be completed by 2013 amid a tourism boom. The firm is to build a four-star hotel with 150 rooms in Kosgoda as it has decided […]
Sri Lanka shares end down 0.2-pct
April 09, 2012 (LBO) – Sri Lankan shares closed slightly weaker Monday and trading slumped to a low of 132 million rupees, the lowest since May 2009, ahead of traditional new year holidays. Citrus Leisure, which revealed the ownership of a prime beach front property it bought on the east coast for 169 million rupees […]
Sri Lanka Treasuries yields up after rate hike
Apr 09, 2012 (LBO) – Sri Lanka’s Treasury bill yields rose more than 50 basis points across maturities following a rate hike at Monday’s auction held two days earlier due to traditional holidays later in the week, data from the debt office showed. Higher Treasury bill yields are needed to correct an imbalance in the […]