lbostgadmin – Page 1435 – Lanka Business Online

Loan Rate

Mar 17, 2011 (LBO) – Sri Lanka’s Commercial Bank said it is accepting application for loans which has repayment periods of up to 10 years under a small and medium enterprise loan scheme funded by a World Bank credit line. Commercial Bank of Ceylon is one of seven participating banks in the credit line, which […]

Offshore Support

Mar 18, 2011 (LBO) – Sri Lanka’s Colombo Dockyard said it has delivered the fourth in a series of oil industry offshore support vessels for Greatship (India), a subsidiary of The Great Eastern Shipping Company of India. Christened ‘Greatship Rashi’, she will join her sister vessel Greatship Rohini which was delivered in February 2011, said […]

Highway Hopes

Mar 18, 2011 (LBO) – Construction work on stage one of Sri Lanka’s first expressway is set to end this month with 99 percent of the work over, according to details revealed by the Road Development Authority. The southern expressway, being built in four stages, will have a total length of 131.1 kilometres and allow […]

Sri Lanka stocks close 1.1-pct lower

Mar 18, 2011(LBO) – Sri Lankan stocks closed 1.1 percent lower Friday ending a two day rally as buyers in credit funded positions sold out, feeding a market consolidation downwards, brokers said. The All Share Price Index closed at 7,184.77, down 1.17 percent (84.82 points) while the Milanka Price Index of more liquid stocks closed […]

Sri Lanka equities could be buffeted by Japan fallout: brokerage

Mar 17, 2011 (LBO) – Sri Lanka’s economy may not be much affected by the devastation in Japan in the short term but a global fallout may impact commodity prices and capital flows, analysts and officials said. “The direct impact of the Japanese natural disaster on the Sri Lanka economy should be small,” Heraymila Securities […]

Sri Lanka investors get fast track to settle in Britain

Mar 17, 2011 (LBO) – New visa rules will allow investors and entrepreneurs who invest large sums of money or create jobs and “exceptionally talented migrants” to settle permanently in the UK faster, a statement said. The move is an effort to lure the wealthy and brainy from other countries like India to help the […]

Sri Lanka moves against child labour

Mar 17, 2011 (LBO) – The Sri Lankan government plans to allocate more funds to a campaign to eliminate the worst forms of child labour by 2016, a statement said. “The funds will be used to train duty bearers, raise awareness and promote behavioural change amongst communities vulnerable to the worst forms of child labour.” […]

Atomic Scale

Mar 17, 2011 (LBO) – Japan has sent a nano-technology expert and will provide related equipment to Sri Lanka to help the island develop applications that make exports more competitive. “JICA hopes nanotechnology will not only provide an opportunity to shape up technological advancement in the country but it will also lead to significant breakthroughs […]

Durable Sales

Mar 17, 2011 (LBO) – Singer Sri Lanka, a top consumer durables retailer in the island said sales rocketed following a tax cut and a general economic upturn in 2010, though inflationary fears were now creeping in. Singer Sri Lanka, which sells its own brand and several others from Japan, Korea and China said its […]

Cyber Threat

Mar 17, 2011 (LBO) – Sri Lankan bank customers have been warned by the Information and Communications Technology Agency to be wary of financial fraud by hackers using fake websites of the branches of foreign banks in the island. Its services range from responding to and investigating information security breaches, to preventing security breaches by […]

Sri Lanka stocks close 2.1-pct higher

Mar 17, 2011(LBO) – Sri Lankan stocks closed 2. 16 percent higher Thursday, rebounding for a second consecutive day after three days of losses with gains seen across the board, brokers said. Piramal Glass closed at 11.40, up 0.50 cents with 2.6 million shares traded. The All Share Price Index closed at 7,269. 59, up […]

Sri Lanka inflation stumps markets

Mar 16, 2011 (LBO) – Sri Lanka’s rising inflation and negative real rates have stumped markets with bond liquidity vanishing, quotes widening and forward dollar premiums doubling amid uncertainty and lack of direction, dealers said. The weighted average prime lending rate has also started to move up slightly to 9.25 percent in the week ending […]