lbostgadmin – Page 1279 – Lanka Business Online

Credit Trend

Dec 12, 2011 (LBO) – Loans to business from Sri Lanka’s commercial banks hit a fresh high of 54.50 billion rupees in October 2011 to 1,882 billion rupees while central bank credit to the state also rose amid defence of a dollar peg, official data shows. Credit to business grew 33.4 percent in the 12-month […]

Sri Lanka stocks slip 0.5-pct

Dec 12, 2011 (LBO) – Sri Lanka’s stocks slipped 0.5 percent, with illiquid stocks losing further ground in thin trade, but more fundamentally strong stocks saw some support, brokers said. One million shares of Distilleries traded with the stock closing at 149.10 down 90 cents. In forex markets the rupee continued to be defended at […]

Sri Lanka bond yields up, money steady

Dec 12, 2011 (LBO) – Sri Lanka’s money and forex markets were steady but bond yields were slightly up in a thin market Monday, dealers said. Meanwhile Central Bank data showed that foreign investors have bought into bills over the last week, reversing some sales earlier. The Central Bank raised limits for foreign holdings of […]

Sri Lanka inland attractions draw more tourists: minister

Dec 11, 2011 (LBO) – Sri Lanka’s main historical, and wildlife attractions had begun to draw more visitors, weaning the island away from being mainly a beach tourist destination, deputy economic development minister Lakshman Abeywardene said. The ancient city of Polonnaruwa had drawn 103,335 visitors of 15.7 percent of the total and Anuradhapura 75,917 or […]

Sri Lanka draws Indian investors

Dec 10, 2011 (LBO) – Indian companies are keen to invest in post-war Sri Lanka given its growth prospects and are looking for opportunities, officials of Price Waterhouse Coopers India said. “These Indian entrepreneurs are looking at the emerging middle class which was the engine of growth for them in India,” he said. Indian businessmen […]

‘s President Sang: interview

Dec 10, 2011 (LBO) – Vietnam is a country which left behind a bitter war civil war with foreign involvement to become a fast growing nation and a top destination for global foreign direct investments following its Äá»•i Má»›i or (renewal) political and market reforms starting from 1986. Vietnam built bridges both internally and externally […]

Sri Lanka lawmaker speaks for food freedoms, voiceless minority

Dec 09, 2011 (LBO) – A Sri Lankan lawmaker has spoken out for food freedoms, after a fellow parliamentarian and prime minister proposed banning an imported food heavily consumed by Tamil speaking minority citizens. Harsha de Silva, a lawmaker representing Sri Lanka’s main opposition spoke out against a proposal by Prime Minister D M Jayaratne […]

Sri Lanka reaches billion dollar FDI volume in 2011: minister

Dec 09, 2011 (LBO) – Sri Lanka has reached a highest ever foreign direct investment volume of a billion US dollars by November 2011, deputy economic development minister Lakshman Yapa Abeywardene said. “This includes state land sales,” minister Abeywardene said. “Land purchases are an integral part of an investment project. By November 2011 we have […]

Sri Lanka rubber, food products boost Sept exports

Dec 09, 2011 (LBO) – Sri Lanka’s exports in September 2011 rose 20 percent to 854 million US dollars from a year ago, helped by higher shipments of garments and rubber and food products, the central bank said. Earnings from minor agricultural exports also grew by 12 per cent in September 2011. “Expenditure on imports […]

Sri Lanka top tuna loin exporter to EU

Dec 09, 2011 (LBO) – Sri Lanka has emerged as the top tuna loin exporter to the European Union and is ramping up production aiming to earn a billion dollars from fishery exports in nine years, an official said. Senaratne said the island had cracked down on illegal and destructive fishing methods like bottom trawling […]

‘s Galle Literary Festival 2012 in final stretch

Dec 09, 2011 (LBO) – The program Sri Lanka’s HSBC Galle Literary Festival 2012 is the last stages of being finalized and tickets will go on sale from January 04, organizers said. The festival runs from January, 18 to 22. Among the writers confirmed to attend are Joanne Trollope, Richard Dawkins, Tom Stoppard, D. B.C […]

Sri Lanka tourist arrival up 25.8-pc up in November

Dec 09, 2011 (LBO) – Sri Lanka’s tourist arrivals rose 25. 8 percent to 90,889 in November 2011 with arrivals during the 11 months to November rising 33. 1 percent to 758,458 data from the tourism promotion office said. In the 11 months to November total visitors from South Asia rose 38.8 percent to 211,777. […]