Author: lbostgadmin
Sri Lanka stocks end down 0.2-pct
Dec 15, 2011 (LBO) – Sri Lankan stocks ended weaker Thursday with some deals seen in companies seen to have strong fundamentals although turnover remained thin, brokers said. The main All Share Price Index fell 0.16 percent (9.67 points) to 5,941.32, while the more liquid Milanka index fell 0.72 percent (37.48 points) to close at […]
Sri Lanka 2011 economic growth, inflation on target: CB Governor
Dec 15, 2011 (LBO) – Sri Lanka’s 2011 economic growth is likely to come slightly below an earlier expected 8. 3 percent and inflation will be below 6. 0 percent, Central Bank Governor Nivard Cabraal said. “Growth may be a little below 8. 3 percent,” Cabraal said. “But it will be higher than 8.0 percent.” […]
” for Indian industry
Dec 15, 2011 (LBO) – Sri Lanka is considered as a priority country for investment by Indian industry, the head of a visiting business mission from the Confederation of Indian Industry (CII) has told the island government. The 13-member CII mission’s main business interests were IT/BPO, auto components, metal and plastic products, electronic and engineering […]
Sri Lanka crate law stirs protest
Dec 14, 2011 (LBO) – Sri Lanka’s fresh produce trade including farmers and collectors rioted in several parts of the country amid police tear-gas after authorities started arresting citizens for transporting vegetables without plastic crates. The protests also underline deep flaws in the country’s policy and lawmaking, critics say. On Wednesday vegetable shops in the […]
Sri Lanka reconciliation must ensure sustainable peace: Australia lawmakers
Dec 14, 2011 (LBO) – A visiting Australian parliamentary delegation has said Sri Lanka’s reconciliation efforts after the end of its 30-year ethnic war must ensure sustainable peace and progress. Five Australian-members of parliament have gained a “first-hand insight” into Sri Lanka’s current political, economic and social situation during a week-long visit to the country,” […]
Sri Lanka identifies sites for wave energy
Dec 14, 2011 (LBO) – Sri Lanka has identified 14 sites along its coastline to build power plants using energy from ocean waves as part of a move to shift to renewable energy sources and reduce reliance on costly fossil fuel. The island’s energy deficit is increasing as rapid economic growth generates higher demand for […]
‘s Tata Power signs up US$68mn for solar power
NEW DELHI, Dec 14 (AsiaPulse) – Tata Power (BSE:500400) said it has tied up funds for its 25-MW solar project in Gujarat, which is to see an investment of about Rs 365 crore (US$68.7 million). Tata Power has inked a Power Purchase Agreement (PPA) for the project with Gujarat Urja Vikas Nigam Ltd. (PTI) cg […]
Visual Contact
Dec 14, 2011 (LBO) – Sri Lanka’s Dialog Axiata mobile phone operator is offering a ‘concierge-type’ video conferencing service to corporate customers that it says will reduce business travel costs and raise sales management efficiency. Rithesh Bhargava, Cable & Wireless Worldwide’s Head of Solutions India and South Asia, said the service using Web-based cloud computing […]
Tele Buy
Dec 14, 2011 (LBO) – Sri Lanka’s Dialog Axiata, said it will buy Suntel, a fixed access unit of Sweden’s Overseas Telecom AB for a little over 34 million US dollars to expand its fixed wireless business. Dialog Broadband had posted revenues of 1. 8 billion rupees for the nine months ending September 2011. Suntel, […]
Port Pursuit
Dec 14, 2011 (LBO) – An Indian conglomerate is keen to acquire a stake in ports in Sri Lanka given its location and growth potential, an investment advisor from PricewaterhouseCoopers India told an investor forum in Colombo. Rapid infrastructure modernisation will be critical to achieve high levels of economic growth, he told the forum. Much […]
Highway Access
Dec 14, 2011 (LBO) – Sri Lanka has got Asian Development Bank aid to upgrade six access roads linking the newly opened southern expressway with the rest of the island’s road network, an ADB statement said. The ADB will give a loan of 85 million US dollars (about 9,347 million rupees) for the project to […]
Sri Lanka stocks close 0.7-pct
Dec 14, 2011 (LBO) – Sri Lanka’s stocks closed 0. 7 percent Wednesday amid thin trading while bond yields edged up, dealers and brokers said. Colombo’s benchmark All Share Index fell 43.6 points to 5,950.99 points and the Milanka Index of more liquid stocks fell 39.2 points to 5,228.4 points or 0.75 percent. Asha Central […]