Author: lbostgadmin
Fresh Capital
Jan 07, 2011 (LBO) – The Colombo Stock Exchange has approved an application by The Finance Company, a troubled financed firm that is recovering after a run, for a public share issue to raise 1. 6 billion rupees for fresh capital, a statement said. The firm will issue 40 million ordinary voting shares at 40 […]
Close Eye
Jan 07, 2011 (LBO) – Sri Lanka’s central bank will keep a closer eye on conglomerates with interest in banks and finance companies, governor Nivard Cabraal said. Financial institutions connected to diversified conglomerates can have greater risks, requiring higher degree of supervision, he said in a speech on the central bank’s monetary policy for 2011. […]
Port Prospects
Jan 07, 2011 (LBO) – The Sri Lanka Ports Authority (SLPA) plans to invite investors to make proposals for investments in the eastern port of Trincomalee where large tracts of land are available by March, its chairman Priyath Wickrama said. The port has a cement plant and flour mill. “In the future we will not […]
Sri Lanka shares end up 0.82-pct
Jan 04, 2011, (LBO) – Sri Lankan stocks closed higher Thursday with active trading seen in the poultry and index heavy stocks like JKH, brokers said. The All Share Price Index closed at 6,809.73, up 0.82 percent (55.42 points) while the more liquid Milanka index closed at 7,194.50, up 0.53 percent (38.15 points) according to […]
Sri Lanka shares end up 1.21-pct
Jan 07, 2011(LBO) – Sri Lankan stocks closed higher Friday with Panasian Power, a mini hydro firm, débuting on the market and active retail trading, brokers said. The All Share Price Index closed at 6,891.96, up 1.21 percent (82.23 points) while the Milanka Price Index of more liquid stocks closed at 7,286.88, up 1.28 percent […]
Sri Lanka seeks to change inflation index as price pressure grows
Jan 06, 2011 (LBO) – Sri Lanka wants to change a price index again to reflect recent changes in consumption patterns although previous tinkering with the indicator at a time inflation hit record highs drew criticism. It would also cover changes in credit growth, money market liquidity and its control measures, impact of capital inflows […]
Sri Lanka gas distributor invests Rs500mn in mini-hydro
Jan 06, 2011 (LBO) – Sri Lankan liquid petroleum gas distributor Laugfs Gas plans to invest 500 million rupees in a mini-hydro power project, a stock exchange filing said. The project will be done by a fully-owned company subsidiary called Laugfs Power and will be its first mini-hydro power project. Construction work on the Ranmudu […]
‘s stewardship of dynamic economy
WASHINGTON, January 5, 2011 (AFP) – The International Monetary Fund Wednesday praised India’s stewardship of one of the world’s fastest-growing economies, saying the country’s growth prospects appear robust. The IMF said that India had emerged from the global financial slump with a strong recovery since mid-2009 led by domestic demand, particularly infrastructure investment. “Executive directors […]
Medical Market
Jan 06, 2011 (LBO) – Sri Lanka’s E-Channelling, a listed dotcom that enables patients to make appointments with doctors over the internet, has struck a deal to enter the Maldives and a wider market with Qatar Telecom, a statement said. Wataniya Telecom is owned by Qatar Telecom (QTel) which has 58 million subscribers in 17 […]
Sri Lanka allows duty free import of milch cows, dairy equipment
Jan 06, 2010 (LBO) – Sri Lanka is lifting all import levies on high yielding milk cows and diary equipment to promote domestic production of milk and is also increasing the farm gate price of milk, a senior minister said. Information minister Keheliya Rambukwelle said the cabinet of ministers had approved the tax change following […]
Fund Appeal
Jan 06, 2011 (LBO) – Bidding for NAMAL, a unit trust management company owned by Sri Lanka’s Distilleries group, is still open and at the preferred bidder stage, a stock exchange filing said. Distilleries group controlled by tycoon Harry Jayawardena has put up a 70 percent stake of NAMAL for sale along with 100 percent […]
Bunker Business
Jan 06, 2011 (LBO) – The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May, its chairman Priyath Wickrama said. Bunkering is seen as a lucrative business given the heavy ship traffic around the island. A tank farm with a capacity of […]