Author: lbostgadmin
Fed chief hums and haws in historic press meet
WASHINGTON, April 27, 2011 (AFP) – His voice cracked and pinched. When necessary — most of the time — he retreated into policy jargon. With markets ready to pounce on any odd choice of words, US central bank chief Ben Bernanke was clearly nervous as he fielded reporters’ questions after a policy meeting for the […]
Sri Lanka Vietnam economic links to widen with re-opened embassy: envoy
Apr 28, 2011 (LBO) – Sri Lanka could attract investments from Vietnam if the path is clear and the two nations could increase two-way trade and tourism rapidly, Ton Sinh Thanh, Hanoi’s envoy heading a newly re-opened embassy in Colombo, said. FDI Vietnam itself is receiving tens of billions of dollars of investment from Japan, […]
Sri Lanka rupee strengthens below 110 to greenback
Apr 28, 2011 (LBO) – Sri Lanka’s rupee strengthened to below 110 to green back as the dollar slid to record lows against currencies issued by other monetary authorities with higher interest rates, dealers said. The spot dollar was quoted around 109.90/95 in mid morning trade. The Australian dollar, rose to a 29-year high against […]
Sri Lanka exports up 37-pct in February
Apr 28, 2011 (LBO) – Sri Lanka’s exports rose 36. 8 percent to 860.3 million US dollars in February with apparel exports rising 47.5 percent to 366.6 million US dollars while imports rose 27 percent to 1. 23 billion US dollars, the Central Bank said. Industrial exports rose 45.4 percent to 658.4 million US dollars. […]
Sri Lanka insurers in campaign to raise awareness
Apr 28, 2011 (LBO) – Sri Lankan insurance companies are to launch a campaign to raise public awareness of their products, saying they were not understood properly by people and penetration was far too low. The industry comprises of 18 insurance companies offering either life insurance, non life of general insurance or both classes together […]
SriLankan Airlines gets second floatplane
Apr 28, 2011 (LBO) – SriLankan Air Taxi, the domestic arm of SriLankan Airlines, has acquired its second floatplane as island-wide operations expand and it plans to start daily flights to another town. The twin-engined aircraft De Havilland Twin Otter aircraft was flown in to Bandaranaike International Airport, north of Colombo, from Canada on April […]
Sri Lanka gets Korean loan for solid waste disposal
Apr 28, 2011 (LBO) – Sri Lanka is to get a loan equivalent to 33,536 million US dollars (41,886 million rupees) from South Korea to build four facilities for disposal of solid waste which is a growing problem in the island. The Korea Economic Development Fund of the Export – Import Bank of Korea is […]
Sri Lanka gets Indian aid to revive fish net factory
Apr 28, 2011 (LBO) – Sri Lanka is to get Indian aid to revive and expand a fish net factory in the northern Jaffna peninsula where fishing is a key economic activity under efforts to help fishermen resume their livelihood. The Northsea factory at Gurunagar was damaged during the island’s 30-year ethnic war which ended […]
Bank Numbers
Apr 28, 2011 (LBO) – Sri Lanka’s Pan Asia Bank said March 2011 quarter net profit shot up 190 percent to 196 million rupees from a year ago with sharp gains in both interest and non-interest income. Earnings per share for the quarter went up to 1.33 rupees from 0.61 rupees, according to interim results […]
New Bank
Apr 28, 2011 (LBO) – India’s Axis Bank has been given preliminary approval to set up a unit in Sri Lanka, with a formal license to be given after the bank meets regulatory requirements, an official said. State Bank of India and Indian Bank already have branches in Sri Lanka. Indian Bank has been expanding […]
Sri Lanka stocks end up 0.2-pct
Apr 28, 2011 (LBO) – Sri Lankan shares closed higher Thursday with heavy trading in two banks which reported sharply higher March 2011 quarter profits, brokers said. The main All Share Price Index closed at 7,377.65, up 0.19 percent (13.87 points) while the more liquid Milanka index rose 0.29 percent (19.96 points) to close at […]
Sri Lanka IPO pricing based on latest financials: advisors
Apr 26, 2011 (LBO) – Financial advisors for a forthcoming share issue by Sri Lanka’s Expolanka group have defended the pricing of the public offer at more than twice that of a private placement late last year. Expolanka Holdings is to raise 2.4 billion rupees by issuing 172 million ordinary voting shares at 14 rupees […]