Author: lbostgadmin
Sri Lanka seen needing skills to exploit ocean resources
Dec 05, 2011 (LBO) – Sri Lanka must develop research institutes and skilled manpower to exploit ocean resources being discovered around the island, a senior academic said. Oil and gas deposits are not confined only to the Mannar or Cauvery basins with new surveys indicating their presence elsewhere around the island as well, said Dhammika […]
Sri Lanka tourist shopping mall at colonial Dutch hospital
Dec 05, 2011 (LBO) – A tourist ‘shopping precinct’ has been built in Sri Lanka’s capital Colombo at the premises of a hospital in dating back to the Dutch colonial period. The Dutch hospital was opened by economic development minister Basil Rajapaksa and his brother defence secretary Gothabhaya Rajapaksa who also oversees the country’s urban […]
Cross Border
Dec 05, 2011 (LBO) – Sri Lanka’s non-bank finance companies should borrow abroad to increase resources they have to lend to the domestic economy, Central Bank Governor Nivard Cabraal said. In the 1980s amid high deficit spending and loose monetary policy, the currency was continuously depreciated to avoid balance of payments crises. When foreign currency […]
Gold Finance
Dec 05, 2011 (LBO) – Sri Lanka’s Edirisinghe Trust Investments (ETI), a registered finance company which is to be listed on the Colombo bourse, said it plans to open more outlets by March 2012 as its gold finance business expands. Sandun Kumarasiri, ETI General Manager Gold Financing and Sales, said their staff not only has […]
Sri Lanka stocks close 1.5-pct lower
Dec 05, 201 (LBO) – Sri Lanka’s stocks closed 1. 5 percent lower Monday amid foreign selling in some large cap stocks brokers said, as staff at the securities watchdog bid farewell to its chairperson. John Keells Holdings fell 6.10 to close at 162.10 rupees with 4.5 million shares traded and Hatton National Bank fell […]
China to keep monetary easing at moderate level: expert
HONG KONG, Asia in Focus (LBO) – China’s monetary easing will stay at a ‘moderate’ level, an expert said Friday, cautioning investors not to become too optimistic about the Chinese economy. The central People’s Bank of China (PBOC) surprised markets late Wednesday by announcing a 50 basis points cut in required reserve ratios, effective from […]
Proposals
Dec 04, 2011 (LBO) – Sri Lanka Ports Authority will invite more port related industries at Hambantota in the island’s south this month, after a first round brought a billion dollars of investments, chairman Priyath Bandu Wickrema said. The RFP will be open and investors could propose virtually any industry including manufacturing, assembly, packing and […]
Sri Lanka cricket body has Rs3bn hole in balance sheet
Dec 03, 2011 (LBO) – Sri Lanka Cricket, the islands’ governing board for the sport where state intervention has increased over the years, has a three billion rupee hole in its balance sheet, a parliamentary committee on state enterprises has found. A report by a committee on public enterprises (COPE) said SLC had 6. 1 […]
Vietnam tourist arrivals up 15.9-pct to 5.3 million
HANOI, Dec (Asia Pulse) – Some 5.3 million foreign visitors came to Vietnam in the first 11 months of 2011, up 15.9 per cent year-on-year, and meeting the country’s tourism target, according to the Vietnam General Statistics Office. Tourism, including domestic, earned an estimated VND110 trillion (US$5.2 billion) or 4.5 per cent of the nation’s […]
Sri Lanka US$750mn sea reclamation to China Harbour
Dec 02, 2011 (LBO) – Sri Lanka is in talks with China Harbour Engineering Company (CHEC) to reclaim 500 acres from the sea next to Colombo Port for a 750 million dollar project, an official said. Sri Lanka has said five acres of land in Colombo’s Galle Face beachfront, which is near the port, will […]
Sri Lanka built foreign reserves to use during tough times: CB Governor
De 02, 2011 (LBO) – Sri Lanka built up foreign reserves as a buffer to be used during tough times, Central Bank Governor Nivard Cabraal said, as reserves came off record highs seen in August 2011. “We have thought through carefully and built up are reserves carefully in order to ensure that we are able […]
Sri Lanka air force gets more Bell helicopters
Dec 02, 2011 (LBO) – Bell Helicopter, a Textron Inc. company said it has delivered two Bell 412 helicopters to the Sri Lanka Air Force at its facility in Piney Flats, Tennessee in the United States. The two new helicopters from Bell, which had previously supplied a fleet of transport helicopters to the air force […]