Author: lbostgadmin
Sri Lanka second hotel eyed by Shangri-La: report
Jan 24, 2011 (LBO) – Hong Kong based Shangri-La hotels is looking for a coastal property to build a resort hotel, after buying state land in Sri Lanka’s capital Colombo for a hotel, shopping and apartment complex, a media report said. Bloomberg, a newswire quoting Treasury secretary P B Jayasundera said Shangri La was looking […]
Sri Lanka stocks close up 0.1-pct
Jan 24, 2011(LBO) – Sri Lankan stocks closed up 0. 10 percent Monday with active retail and high-net-worth individual trading in the banking and poultry sectors, brokers said. The All Share Price Index closed at 7,261. 37, up 0.10 percent (7.36 points) while the Milanka Price Index of more liquid stocks closed at 7,298. 57, […]
Sri Lanka retailer raises 5-year money through securitization
Jan 24, 2011 (LBO) – Sri Lanka’s NDB Investment Bank said it had raised a billion rupees for Richard Pieris Distributors, retail chain, for five years backed by cash flows due from the settlement of sales made through credit cards. In typical securitization cashflow generating assets are placed in a special trust or company (special […]
Sri Lanka literary festival lose stars, India denies visa block
Jan 22, 2011 (LBO) – Organizers of Sri Lanka’s Galle Literary Festival has defended its tradition of openness after two star writers pulled out of the event in the wake of protest from rights groups, while India denied that its visa rules hindered writers. “We are looking forward to welcoming writers and festival goers, to […]
Sri Lanka tea output hits record high in 2010
January 22, 2011 (AFP) – Sri Lanka, one of the world’s biggest producers of black tea, reported Saturday that output hit a record high in 2010, helped by good weather. The total crop for 2010 grew by 13. 1 percent to 329.4 million kilograms (72 4.7 million pounds) from 291.1 million kilograms a year earlier, […]
Stars pull out of Sri Lanka book fair under pressure
JAIPUR, January 21, 2011 (AFP) – Nobel-winning Turkish author Orhan Pamuk and fellow writer Kiran Desai have pulled out of Sri Lanka’s main literary festival, Pamuk’s publisher said on Friday, following pressure from press freedom groups. Reporters Without Borders and a Sri Lankan rights group had targeted foreign writers in a campaign that called on […]
Loss Adjustment
Jan 22, 2011 (LBO) – Sri Lanka’s Indian Oil Corporation unit says it is losing 9 rupees a liter on petrol and 21 rupees a liter on diesel by selling fuel at government controlled prices as world commodity prices continued to rise. In 2004 Sri Lanka jettisoned pricing formula and printed money heavily to fix […]
Deep Range
Jan 22, 2011 (LBO) – Sri Lanka’s state marine research agency will buy a survey and research vessel from Taiwan to deepen knowledge and also upgrade a technical college to ‘ocean university’ status, a government minister said. The state National Aquatic and Research Agency (NARA) had been given the nod by the cabinet of minister […]
Sri Lanka Piramal Glass profits up five fold in Dec
Jan 21, 2010 (LBO) – Sri Lanka’s Piramal Glass Ceylon, a unit of India’s Piramal Glass said profits in the December 2010 quarter rose more than five fold to 190 million rupees from 28. 6 million a year earlier. The firm which makes glassware saw revenues grow 28. 2 percent to 1,166 million rupees according […]
‘s Murali to quit after World Cup
January 21, 2011 (AFP) – Record-breaking Sri Lankan spinner Muttiah Muralitharan said Friday he would retire from international cricket after the 2011 World Cup. “This World Cup will be my last outing,” Muralitharan, 38, told reporters on the sidelines of a training session in Colombo. “I am retiring totally from international cricket thereafter. ” The […]
” to test Cup venues
January 21, 2011 (AFP) – Sri Lanka are eager to test the island’s new cricket venues ahead of next month’s World Cup, skipper Kumar Sangakkara said Friday. Sri Lanka, who were runners-up in the last Cup in 2007, will stage 12 matches of the showpiece event, in Hambantota, Pallekele and Colombo. The remaining games will […]
Sri Lanka exports surge in Nov
Jan 21, 2011 (LBO) – Sri Lanka’s exports surged 36 percent in November 2010 to 833 million US dollar, led by industrial exports which grew 40. 8 percent from a year earlier to 633 million US dollars, according to official data. The surge helped exports to grow 3. 7 percent to 7.33 billion US dollars […]