Author: lbostgadmin
Fresh Lease
Oct 13, 2011 (LBO) – Accelerating post-war growth and surging vehicle imports owing to tax cuts and better incomes will drive Sri Lanka’s leasing and hire purchase market, promoters of People’s Leasing Company’s share issue said. People’s Leasing, Sri Lanka’s largest leasing firm, plans to raise 70 million US dollars in an initial public offer […]
Land Payment
Oct 13, 2011 (LBO) – The Sri Lankan state is getting ready to acquire land and pay compensation in the second phase of the project to build a large deep-water port in Hambantota on the south coast. The extent of the submerged rock was missed during initial surveys and the cost of blasting it has […]
Sri Lanka stocks end down 0.3-pct
Oct 13, 2011 (LBO) – Sri Lankan stocks fell again Thursday with heavy losses in selected shares on very thin trade with the market falling sharply after opening but recovering towards the end, brokers said. The main All Share Price Index fell 0.28 percent (18.24 points) to 6,585.99, while the more liquid Milanka index rose […]
Sri Lanka urban agency to offer land in former war-zones
Oct 12, 2011 (LBO) – Sri Lanka’s Urban Development Authority which was focussing on the capital Colombo will offer state lands in former war-zones for commercial development, director general Rohan Fernando said. “Now we are making arrangements to provide lands from Mankulam, Kilinochchi and Jaffna,” he told a forum on property development at the Central […]
Vietnam President to ink economic, defence deals on Sri Lanka visit
Oct 12, 2011 (LBO) – Vietnam President Truong Tan Sang will begin a three day-state visit Thursday which will see economic and defence related bilateral accords being concluded, Sri Lanka’s foreign ministry said. On Friday Sri Lanka President Rajapaksa will hold bilateral discussions with the Vietnamese President to explore opportunities to strengthen relations promote co-operation. […]
Sri Lanka wind farm buys more Indian turbines
Oct 12, 2011 (LBO) – Suzlon Energy Limited of India said Sri Lanka’s Senok group has ordered 10 wind turbines of 2.1 MegaWatts each, to expand is wind farms. Suzlon had earlier sold turbines of 10MW to Senok which has built a wind farm in Puttalam in North Western Sri Lanka. “This new order underlines […]
Sri Lanka leisure group in training venture
Oct 12, 2011 (LBO) – Sri Lanka’s John Keells Holdings has tied up with local and foreign training outfits to train staff for its hotels after the end of a war led to a boom in arrivals. The group has tied up with the Emirates Academy of Hospitality Management based in Dubai and is also […]
Sri Lanka stocks end down almost one percent
Oct 12, 2011 (LBO) – Sri Lankan stocks fell almost one percent Wednesday and turnover was also lower than usual with sharp falls in some shares that had risen sharply in recent weeks, brokers said. The main All Share Price Index fell 0.97 percent (64.81 points) to 6,604.23, while the more liquid Milanka index fell […]
Sri Lanka Treasuries flat, low acceptances
Oct 12, 2011 (LBO) – Sri Lanka’s Treasuries yield were flat at Wednesday’s auction though only bids of 48 percent of the volume offered were accepted from the market, data released by the state debt office showed. Sri Lanka’s rupee had been under pressure in recent months and the Central Bank has increased its Treasuries […]
US duo win Economics Nobel for macroeconomic work
STOCKHOLM, (AFP) – US researchers Thomas Sargent and Christopher Sims won the 2011 Nobel Economics Prize on Monday for their work on macro-economics and government economic policymaking, the Nobel jury said. This year’s laureates “have developed methods for answering … questions regarding the causal relationship between economic policy and different macro-economic variables, such as GDP, […]
US Nobel economists longtime friends, rivals
WASHINGTON, 2011 (AFP) – Christopher Sims and Thomas Sargent are friendly rivals whose careers have tracked each other’s from the time they were Harvard doctoral students to Monday’s announcement that they had both won the 2011 Nobel Economics Prize. As it happened, Sims and Sargent, both 68, were teaching a class together at Princeton University […]
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LONDON, October 10, 2011 (AFP) – British Prime Minister David Cameron said Monday his defence minister had made “serious mistakes” in allowing a close friend to operate as his advisor despite having no official government role. He nevertheless has a key role in the coalition government in pushing through defence spending cuts, as part of […]