Author: lbostgadmin
Sri Lankan exporters rewarded
Mar 25, 2011 (LBO) – Sri Lanka’s commerce ministry has paid almost 500 million rupees to 76 exporters in the final payment under a scheme to reward them for maintaining exports during the 2008 recession. Despite numerous challenges faced by the government, the government tried its best to fulfil its commitments to the export community,” […]
Emissions Testing
Mar 25, 2011 (LBO) – Laugfs Eco Sri, a unit of Sri Lanka’s listed Laugfs gas which tests vehicle emissions for the government, says it is expanding in to the north and the east of the country and is also mulling an initial public offer. Laugfs group chief W K H Wegapitiya said the firm […]
Sri Lanka rubber prices rebound
Mar 25, 2011 (LBO) – Sri Lankan rubber prices have recovered after a temporary fall triggered by overseas demand and supply factors, and look set to stay strong on rising global tire demand, trade officials said. Natural rubber prices at the Colombo auctions hit record highs in February and then slumped sharply after increased supply […]
Exposure Limits
Mar 25, 2011 (LBO) – Sri Lanka’s banking regulator plans to limit exposure of banks to the stock market to prevent the risk of a downturn in equities affecting the financial sector, a senior central bank official said. Samarasiri, who spoke at a public forum on how the central bank revived finance companies that collapsed […]
Credit Access
Mar 25, 2011 (LBO) – Sri Lanka’s NDB Bank has joined a World Bank credit scheme to channel low cost loans to small and medium enterprises (SMEs) through eight lending institutions. SMEs with an annual turnover of less than 300 million rupees operating in a large number of sectors are eligible to apply under concessionary […]
Recovery Road
Mar 25, 2011 (LBO) – Fresh capital will soon be given to the remaining Sri Lankan finance companies that got into trouble two years ago, prompting intervention by the banking regulator, senior central bank officials said. “It has taken over two years but was much quicker than the liquidation process.” Strategic investors have been found […]
Sri Lanka shares close up 0.33-pct
Mar 25, 2011 (LBO) – Sri Lankan shares closed higher Friday, extending the previous day’s gains with interest seen in a cable firm and several off-the-floor deals, brokers said. The All Share Price Index closed at 7,240.27, up 0.33 percent (23.52 points) while the more liquid Milanka index rose 0.65 percent (44.43 points) to close […]
Sri Lanka Pelwatte Sugar parent trims stake
Mar 24, 2011 (LBO) – Sri Lanka’s Master Divers (Pvt) Ltd, the parent of Pelwatte Sugar Industries said it had sold down 2.66 million shares at prices ranging from 37.10 to 40.10 rupees. By December 2010, Master Divers had 81.74 percent of Pelwatte Sugar and Master Divers chairman Ariyaseela Wickramanyake had a 3.24 percent stake. […]
” for Colombo
Mar 24, 2011 (LBO) – Four areas of Sri Lanka’s capital Colombo run by local government bodies will be brought under a new state entity whose head will be appointed by the island’s president, the government’s information office said. Areas coming under Colombo Municipal Council, Dehiwela-Mt Lavinia Municipal Council, Sri-Jayawardenapura- Kotte Municipal Council, Kolonnawa Urban […]
Sri Lanka FDI to pick up with hotels and port: Treasury secretary
Mar 24, 2011 (LBO) – Sri Lanka’s foreign direct investments will pick up with planned projects in ports and hotels valued at 500 million dollars each, finance ministry secretary P B Jayasundera said. He said a concession agreement has been signed in the Colombo port for a new terminal that will need 500 million US […]
England are underdogs against Sri Lanka, says Prior
March 23, 2011 (AFP) – Matt Prior admitted England have not played their best cricket in the World Cup and will be underdogs in their quarter-final against Sri Lanka on Saturday. England, who have never won the tournament, endured a rocky ride in the first round, losing to Ireland and Bangladesh but beating South Africa […]
Sri Lankan Airlines expands cargo network
Mar 24, 2011 (LBO) – Sri Lankan Airlines is expanding its cargo network with the opening of its first agent’s office in Galle in the island’s southern province where economic activity is growing. A statement by the national carrier said its SriLankan Cargo unit aims to increase revenue for the airline. SriLankan Airlines Cargo Sales […]