Author: lbostgadmin
Sri Lanka tourism product needs facelift to justify price hikes
Feb 08, 2011 (LBO) – Sri Lanka needs to improve the quality of its tourism product and infrastructure to further increase room rates after a post-war rise in rates made the island look expensive, an equities research report said. The country also needs to improve entertainment and shopping in order to break the seasonality of […]
Sri Lanka shares end up 0.05-pct
Feb 08, 2011(LBO) – Sri Lankan stocks closed up Tuesday with some profit taking seen in the morning trades and retail investors pushing the market up by investing in small cap stocks, brokers said. The All Share Price Index closed at 7,385.04, up 0.05 percent (3.94 points) while the Milanka Price Index of more liquid […]
Sri Lanka large bank note shows recent inflation: economist
Feb 07, 2011 (LBO) – A large denomination banknote issued by Sri Lanka’s monetary authority is a testament to the recent high inflation created in the country, an economist and opposition lawmaker has said. Sri Lanka’s central bank issued a 5,000 rupee note, more than twice the value of 2,000 rupee, note also issued after […]
Oil Spike
SINGAPORE, February 7, 2011 (AFP) – Brent crude prices surged above 100 dollars in Asia on Monday as major regional equities clocked strong performances in their first trading day since the start of the Chinese New Year, analysts said. “Oil was also boosted by US economic figures on Friday that showed jobless rates plunging to […]
Sri Lankan floods return, death toll rises to 17
February 7, 2011 (AFP) – Sri Lanka’s latest monsoon rains have claimed at least 17 lives and left around 1.2 million people flooded out of their homes, officials said Monday. The Disaster Management Centre in Colombo said 311,000 people had sought refuge in state-run relief shelters by Monday morning, while approximately 900,000 were living with […]
Mendis, Perera fire Sri Lanka to series-clinching win
February 6, 2011 (AFP) – Ajantha Mendis and Thisara Perera shared seven wickets as Sri Lanka posted a 26-run win over the West Indies in the third one-day international on Sunday to clinch the series 2-0. Sri Lanka showed the depth of their bowling line-up by defending their total of 277-9 and restricting the tourists […]
Sri Lanka island resort project off, says Six Senses
Feb 07, 2011 (LBO) – International luxury hotel chain Six Senses has pulled out of a deal to manage a resort being built on an islet off Sri Lanka’s north-west coast, according to company officials. Shivdasani said another project with Sri Lanka’s Aitken Spence group was going ahead near the southern town of Galle with […]
Sri Lanka Continental Hotel cuts losses
Feb 07, 2011 (LBO) – Sri Lanka’s Continental Hotel, bought by the Hayleys conglomerate last year, has reduced its losses in the December 2010 quarter which marks the beginning of the peak tourism season, latest results showed. The hotel, the island’s oldest 5-star rated property in the capital Colombo, reduced its loss to 1. 8 […]
Sri Lanka shares end up 0.47-pct
Feb 07, 2011(LBO) – Sri Lankan stocks closed up Monday with both indices pushed up by active retail investor participation in the diversified and trading sector stocks, brokers said. The All Share Price Index closed at 7,381.10, up 0.47 percent (34.29 points) while the Milanka Price Index of more liquid stocks closed at 7,211. 85, […]
‘s new currency notes from today
Feb 07, 2011 (LBO) – Sri Lanka’s central bank has issued a new series of currency notes featuring economic infrastructure, traditional dancers and birds including a newly discovered endemic owl species. Based on a theme of ‘development, prosperity and Sri Lanka dancers, it is the 11th series of notes issued since the creation of the […]
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SINGAPORE, February 6, 2011 (AFP) – Asia must prepare for millions of people to flee their homes to safer havens within countries and across borders as weather patterns become more extreme, the Asian Development Bank warns. A draft of an ADB report obtained by AFP over the weekend and confirmed by bank officials cautioned that […]
Sri Lanka opposition warns of Arab-style uprising
February 5, 2011 (AFP) – Sri Lanka’s main opposition on Saturday warned of an uprising, a day after ruling party activists unleashed violent attacks against demonstrators seeking the release of a jailed opposition leader. The United National Party (UNP) said repeated violence against the opposition, arson attacks on anti-government news organisations and arrests of student […]