Author: lbostgadmin
Sri Lanka Treasuries yields steady
Jan 06, 2011 (LBO) – Sri Lanka’s short-term Treasury bill yields stayed largely steady at Wednesday’s auction with the government rolling ten billion rupees worth of maturing bonds, the debt office said. The yield on three-month bills stayed flat at 7. 24 percent while that on six-month bills fell to 7.33 percent from 7.35 percent […]
Fuel Opportunity
Jan 05, 2011 (LBO) – Lanka IOC, the Sri Lankan unit of Indian Oil Corp. , plans to invest in expanding its distribution network this year after seeing sales grow last year with an economic recovery after the end of a war, a statement said. We are proud to head the prestigious LMD 50 ranking […]
Cutting Gas
Jan 05, 2011 (LBO) – Sri Lankan liquid petroleum gas distributor Laugfs Gas has struck a deal with India’s Bharat Petroleum Corporation (BPCL) to sell metal cutting gas in the island, a stock exchange filing said. The statement claimed the new product is an economical and safer metal cutting gas substitute for acetylene. The new […]
Sri Lanka delays local polls for World Cup
January 5, 2011 (AFP) – Sri Lanka on Wednesday postponed council elections near three cricket World Cup venues as the nation seeks to put on a flawless show as co-hosts of the prestigious event. The Colombo Municipal Council will not go to the polls as scheduled in March while four other councils in the central […]
‘s silk sari industry
NEW DELHI, January 5, 2011 (AFP) – For centuries, the stunning silk saris woven by hand in the holy city of Varanasi have been prized by Indian women, but an influx of cheap Chinese-made copies is destroying the local industry. Badruddin Ansari, one of the few weavers still in business, says that most of his […]
Sri Lanka East West Properties eyes leisure investments with rights issue
Jan 05, 2011 (LBO) – Sri Lanka’s East West Properties plans to make a rights issue to raise funds to invest in the booming tourism industry and for working capital for ongoing projects, a stock exchange filing said. “The purpose of the rights is to provide working capital for the ongoing funding of East West […]
Sri Lanka shares end up 0.78-pct
Jan 05, 2011, (LBO) – Sri Lankan stocks closed higher Wednesday with active trading taking place in the poultry sector, brokers said. The All Share Price Index closed at 6,754.31, up 0.78 percent (52.46 points) while the more liquid Milanka index closed at 7,156. 35, up 0.88 percent (62.28 points) according to stock exchange provisional […]
Sri Lanka aims for US10bn forex reserves by 2013
Jan 05, 2011 (LBO) – Sri Lanka is improving its foreign reserves management system with more modern trading systems and practices and aims to build up foreign exchange reserves to over 10 billion US dollars in the next few years, central bank governor Nivard Cabraal said. The central bank plans to go for better trading […]
Sri Lanka BOP surplus in 2010 US$900mn
Jan 04, 2011 (LBO) – Sri Lanka expect to have had a balance of payments surplus of 900 million US dollars in 2010, Central Bank governor Nivard Cabraal said. Gross official foreign exchange reserves reached 6.6 billion US dollars by the end of 2010, he said in a speech outlining the central bank’s monetary policy […]
Sri Lanka aims for 8.5% growth in 2011
Jan 04, 2011 (LBO) – Sri Lanka is aiming for economic growth of 8.5 percent in 2011 after growing eight percent in 2010 and expects growth to accelerate to nine percent in 2012 and 9. 5 percent in 2013, central bank governor Nivard Cabraal said. Government recurrent expenditure is estimated to decrease to 16.1 percent […]
‘s Cadbury purchase: report
NEW DELHI, January 3, 2011 (AFP) – India’s finance ministry has launched a probe into the takeover by Illinois-based Kraft Foods of British confectionery giant Cadbury that could see the US company hit with a huge tax bill, a report said Monday. The ministry has begun looking into the deal that saw Kraft buy the […]
‘s ruling party
NEW DELHI, January 4, 2011 (AFP) – One of India’s biggest corruption cases that tarnished late prime minister Rajiv Gandhi in the 1980s returned to haunt the ruling party on Tuesday amid new charges of kickbacks and graft. The weekly current affairs magazine India Today said in its New Year issue that “the size and […]