Author: lbostgadmin
India may award oil blocks next March
NEW DELHI, Dec 7 (AsiaPulse) – The Indian government is likely to award oil and gas blocks offered for bidding in ninth round of New Exploration Licensing Policy (NELP) by March next year, eight months behind schedule. “Some blocks (offered in NELP-IX) were held up due to security issues. By March next year, most of […]
Fairmont eyes 40 hotels in India in five years
NEW DELHI, Dec 7 (AsiaPulse) – Hospitality firm Fairmont Hotels and Resorts plans to operate about 40 hotels in India in the next five years across its three brands — Fairmont, Raffles and Swissotel. “In the next 5-6 years, our strategy is to operate up to six hotels under Raffles brand, about 8 to 12 […]
Port Traffic
Dec 07, 2011 (LBO) – Sri Lanka’s road development agency is to build a flyover at the main entrance to Colombo port to ease traffic congestion caused by container trucks, a port official said. The island’s imports and exports have increased with economic growth accelerating to eight percent a year after the end of its […]
Sri Lanka stocks end up 0.7-pct
Dec 07, 2011 (LBO) – Sri Lankan closed higher Wednesday, swinging back over the 6,000 point mark although trading was thin, brokers said. Orient Garments was the most actively traded stock, accounting for the second highes turnover and closing at 36. 80 rupees, down 3.50, with 2.77 million shares done. It hit a day’s high […]
Sri Lanka Treasuries yields edge higher
Dec 07, 2011 (LBO) – Sri Lanka’s Treasuries yields increased across maturities at Wednesday’s auction with the average 12-month yield topping 9.0 percent for the first time in over 17-months official data shows. The 3-month yield rose 8 basis points to 8.28 percent, the 6-month yield rose 6 basis points to 8.56 percent and the […]
S&P warns 15 Eurozone states of possible downgrade
Dec 06, 2011 (LBO) – Standard and Poor’s has placed 15 Eurozone nations on negative credit watch indicating that they have a 50 percent chance of a downgrade. “In our view, systemic stress in the eurozone has risen in recent weeks and reached such a level that a review of all eurozone sovereign ratings is […]
Sri Lanka to honour promoters of commerce
Dec 06, 2011 (LBO) – Sri Lankan institutions, companies and individuals who helped promote commerce, especially during the war years, are to be recognised by the ‘Global Commerce Excellence’ awards. The awards, to be held on December 13, 2011, are organised by the state-run Export Development Board and Sri Lanka Ports Authority, and the central […]
Gas Potential
Dec 06, 2011 (LBO) – A top Indian scientist has said he believes Sri Lanka has huge gas hydrate resources in the ocean around the island as in India. The ice like solids found in deep water on the ocean floor could generate methane gas, a potential energy source, Harsh Gupta told a forum of […]
Sri Lanka Expo 2012 fair expects 1,000 delegates
Dec 06, 2011 (LBO) – Sri Lanka is expecting more than 1,000 business and official delegates for an export trade fair to be held in March in Colombo, which will also feature a high profile business forum, officials said. The end of a 30-year civil war in 2009 has already resulted in a tourism boom […]
Sri Lanka Lighthouse hotel expands
Dec 06, 2011 (LBO) – The Lighthouse Hotel in southern Sri Lanka said it plans to expand by adding more rooms and new food and beverage outlets amid a boom in tourist arrivals. The company, whose hotel is on the southern coast, said in a stock exchange filing it will build 15-20 rooms, a restaurant, […]
Sri Lanka stocks becalmed
Dec 06, 2011 (LBO) – Sri Lankan stocks closed almost stagnant Tuesday, after breaching the 6,000 point mark the day before, with trading also thin, brokers said. The main All Share Price Index fell 0.12 percent (7.27 points) to 5,988.65, while the more liquid Milanka index was stagnant, edging up 0.01 percent (0.44 points) to […]
Sri Lanka lifts limit foreign Treasuries holdings
Dec 06, 2011 (LBO) – Sri Lanka has raised a limit on the foreign holdings on Treasury bills to 12. 5 percent of outstanding government debt from 10 percent, the Central Bank said, amid rising interest pressure from the defence of a dollar peg. The raising on the foreign Treasuries holdings limit will increase “resource […]