Author: lbostgadmin
Sri Lanka had net inflows into capital markets in 2010: CentralBank
Mar 07, 2011 (LBO) – Sri Lanka’s has seen a net capital inflow of 51.8 billion rupees (459 million US dollars) into the country through approved securities investments accounts the Central Bank said. The central bank’s exchange control department in 2010 there had been an inflow of 215.9 billion rupees (1,910 million US dollars in […]
Sri Lanka flight caterer expects more business
Mar 07, 2011 (LBO) – Sri Lanka’s sole inflight caterer says it is experiencing a surge in demand as the end of a war is drawing more tourists to the country and is also actively chasing and winning new business from airlines which did not buy from Colombo. Though SriLankan Catering, a unit of the […]
Indian property boss resigns over telecom scandal
MUMBAI, March 7, 2011 (AFP) – The head of one of India’s top real-estate companies resigned on Monday after being arrested as part of a probe into a telecom graft scandal that is sending tremors through the corporate world. Shahid Balwa is in jail after being arrested by the Central Bureau of Investigation (CBI) last […]
Telco Investment
Mar 07, 2011 (LBO) – Sri Lanka Telecom, the country’s largest fixed access provider said it is increasing capital expenditure which had flagged during a recent downturn to modernize its network, build broadband capacity and expand into former war torn areas. The firm is also selling wholesale capacity to other operators. The firm had a […]
Sri Lanka Galadari unit in profit for second successive quarter
Mar 07, 2011 (LBO) – Sri Lanka’s Galadari Hotels said profits rose 49 percent in the December 2010 quarter to 320 million rupees from a year ago, helped by forex gains, its second successive quarterly profit after a string of losses. The Employees Provident Fund (EPF), a pension fund of private citizens managed by the […]
Handling Risk
Mar 07, 2011 (LBO) – South Asian financial sector professionals should share experiences and build networks to provide support in future in handling financial risks, a central bank official told a meeting in Sri Lanka. “Highly competitive global financial markets have created unprecedented levels of volatility which in turn has highlighted importance of proper risk […]
Currency Effect
Mar 07, 2011 (LBO) – Colombo Dockyard has warned that a stronger rupee could hit profitability at the yard which last year saw profits dip owing to stiff competition and a downturn in its main tanker repair business. Ship repair, its main business. contributed only 30 percent of the total revenue volume of Sri Lanka’s […]
Land Strip
Mar 07, 2011 (LBO) – The Sri Lankan state will acquire a one metre strip of land on either side of roads for utilities to avoid the need for digging up roadways, a senior official said. Pemasiri said the high cost of acquiring land has deterred the state electricity utility from going underground with most […]
Sri Lanka stocks tumble on selling to raise cash for IPOs
Mar 07, 2011(LBO) – Sri Lankan stocks fell sharply Monday with investors selling to make way for the forthcoming Initial Public Offerings, brokers said. The All Share Price Index closed at 7,582.55, down 1.07 percent (82.17 points) while the Milanka Price Index of more liquid stocks closed at 7,582.55, down 0.19 percent (13.55 points), according […]
Sri Lanka forex reserves $6.6bn in January
Mar 06, 2011 (LBO) – Sri Lanka’s foreign reserves were 6. 6 billion US dollars by end January 2011, the same level as in December, the Central Bank said, as trade and economic activity expanded. The central bank said the reserves were equal to 5.9 months of imports of the past 12 months of 1,108 […]
Sri Lanka-Aussies washed out, Dhaka in security row
NEW DELHI, March 5, 2011 (AFP) – Torrential rain washed away defending champions Australia’s World Cup clash with Sri Lanka on Saturday, just as the eagerly awaited encounter between the fierce rivals was coming to the boil. Sri Lanka had made 146-3, with skipper Kumar Sangakkara hitting an unbeaten 73, when Colombo’s R. Premadasa stadium, […]
Bajaj Auto faces rough ride in India car market
MUMBAI, March 6, 2011 (AFP) – Abhijit is fiercely proud of his Kawasaki Bajaj motorbike and considers himself a company loyalist. “Motorbikes are the best for urban travel. They’re economical and easy to park,” the Mumbai sales executive in his 30s told AFP. But while Abhijit, who uses only one name, wants to upgrade to […]