Author: lbostgadmin
Boat Deal
July 01, 2011 (LBO) – Sri Lanka based SOLAS Marine has won an order for 80 fast interception craft from the Indian Navy in a deal valued at 3,000 million rupees (67 million Us dollars), a media report said. The Times of India newspaper said the boats would be delivered over three years. FICs have […]
Sri Lanka stocks close up 0.3-pct
July 01, 2011 (LBO) – Sri Lanka stocks closed higher Friday in somewhat dull trade with transactions in Browns, Distilleries and Swarnamahal Financial Services (SFS) bolstering turnover, brokers said. The main All Share Price Index closed at 6,844.71, up 0.27 percent (18.77 points) while the more liquid Milanka index rose 0.69 percent (43.41 points) to […]
Sri Lanka to take-over land to build new city in Hambantota
June 30, 2011 (LBO) – Sri Lanka will take-over land in Hambantota in Southern Sri Lanka to build a new business and industrial city which will have housing, hotels, a theatre, schools, beach parks and, the government’s information office said. Sri Lanka’s cabinet of ministers had given the nod to give Urban Development Authority (UDA) […]
Sri Lanka inflation eases to 7.1-pct in June
June 30, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.1 percent by June 2011, down from 8. 2 percent in May, with prices falling 0. 2 percent during the month, the government’s statistics office said. The food category fell 1.0 percent during the month, but all other categories rose or were […]
Fuel Fiasco
June 30, 2011 (LBO) – Sri Lanka’s petroleum industries minister has rejected allegations the government imported low quality petrol, saying motorists whose vehicles were damaged had been supplied fuel contaminated by rain and dregs. Susil Premajayantha said motorists who could prove they had been supplied contaminated fuel would be given compensation. He rejected allegations the […]
Sri Lanka Finco cuts stake in newly listed apparel firm
June 30, 2011 (LBO) – Sri Lanka’s Finco group has reduced its stake in Orient Garments, a newly-listed apparel subsidiary, when it began trading Wednesday, a stock exchange filing said. Finco Holdings, which held 80.98 percent of Orient Garments, sold 10,983,400 shares of its holding constituting 20 percent of the apparel exporter’s issued capital at […]
Sri Lanka seeks developers for prime property
June 30, 2011 (LBO) – Sri Lanka is searching for a buyer for a block of prime beach front land adjacent to two that are slated to be among the largest real-estate cum hotel developments to start in the country after the end of a 30-year war, officials said. “The land is still available,” deputy […]
Sri Lanka to permit hotels in wildlife buffer zones
June 30, 2011 (LBO) – Sri Lanka will permit eco-friendly hotels in buffer zones adjacent to nature reserves to cater to increased local and international interest in the island’s wildlife assets, a government minister said. Abeywardene said investors were also keen to protect nature now. “Investors now do not want to damage the environment,” he […]
Speed Breaker
June 30, 2011 (LBO) – Sri Lanka’s motor sector companies’ profitability has fallen after the reversal of some import tax cuts that caused a profit surge, although vehicle demand remains strong with rising incomes and economic growth, a report said. Motor sector companies reported the highest growth in net profit for the last couple of […]
Sri Lanka stocks close down 0.76-pct
June 30, 2011 (LBO) – Sri Lanka stocks closed weaker Thursday with heavy trading in Aitken Spence Hotel Holdings and Distilleries Company bolstering turnover, brokers said. The main All Share Price Index closed at 6,825.94, down 0.76 percent (52.21 points) while the more liquid Milanka index fell 1.32 percent (84.29 points) to close at 6,301.02, […]
Sri Lankan public officials get Japanese scholarships
June 29, 2011 (LBO) – Talented young Sri Lankan public officials are to be sent to Japan for two-year Masters Degrees under Japanese government scholarships, an embassy statement said. So far over 11,000 Sri Lankan trainees have completed short and long-term training in Japan and in third countries through Japan’s assistance. Japan has given 208 […]
Anderson sparkles, as Jayasuriya bows out tamely
LONDON, June 28, 2011 (AFP) – James Anderson inspired England to a 110-run win over Sri Lanka in the first one-day international here at The Oval on Tuesday. The Lancastrian took 4-18 as Sri Lanka slumped to 121 all out chasing a revised target of 232 in a rain-shortened match. England made 229 in their […]