Author: lbostgadmin
Sri Lanka tea output crosses 300mn kilo mark
Dec 21, 2010 (LBO) – Sri Lanka’s tea production fell in November 2010 from a year ago but crossed 300 million kilos for the year as it appeared headed for a new record annual crop, Tea Board data showed. Tea out put in November fell almost nine percent to 26. 7 million kilos from a […]
Loan Growth
Dec 21, 2010 (LBO) – Sri Lanka’s credit to business from commercial banks surged 20. 3 percent in October 2010 from a year earlier, as 50 billion rupees in new loans were made in the month, the highest since a balance of payments crisis two years ago, official data show. Loans to private business rose […]
Cargo Trends
Dec 21, 2010 (LBO) – Colombo port volumes hit a new record of four million containers Tuesday supported by strong growth in both transshipment and import-export cargo, the Sri Lanka Ports Authority (SLPA) said in a statement. The number of twenty-foot equivalent units (TEUs) of containers handled by the port is up 20 percent so […]
Sri Lanka stocks end up 0.28-pct
Dec 21, 2010 (LBO) – Sri Lankan stocks ended slightly higher Tuesday with heavy trading and gains in poultry firms amind rising demand and prices for chicken following an influx of tourists, brokers said. The All Share Price Index closed at 6,378.91, up 0.28 percent (18.07 points) while the more liquid Milanka index fell 0. […]
Sri Lanka shares end up 0.28-pct
Dec 21, 2010 (LBO) – Sri Lankan stocks ended slightly higher Tuesday with heavy trading and gains in poultry firms amid rising demand and prices for chicken following an influx of tourists, brokers said. Brokers said non-voting shares of liquid petroleum distributor Laugfs Gas were the most actively traded for the day, closing at 17 […]
Chemical Move
Dec 20, 2010 (LBO) – Qatar Petrochemical Company (QAPCO) has opened an office in Sri Lanka to which it supplies ethylene and polyethylene products mainly to the plastic industry, company officials said. QAPCO’s global marketing network comprises of 28 offices and six regional warehouses. “We’ll be marketing low density polyethylene to the Sri Lankan industry,” […]
Sri Lanka bans felling coconut trees to battle prices
December 20, 2010 (AFP) – Sri Lanka’s government on Monday banned the felling of coconut trees as the island battled a severe shortage of nuts — a dietary staple — and ordered imports for the first time. Coconut development minister Jagath Pushpakumara said the government had outlawed the cutting down of coconut trees in a […]
Credit Plans
Dec 20, 2010 (LBO) – Sri Lanka’s Sampath Bank is expecting loans to grow 30 percent in 2011 helped by a new push into leisure, renewable power and credit cards as the country recovers from a three-decade war, officials said. Director Ranjith Samaranayake said the award was in part given due to its 3.0 percent […]
Sri Lanka has good economic prospects, if deficits are cut: World Bank
Dec 19, 2010 (LBO) – Sri Lanka has good growth prospects if deficit spending can be reduced allowing the economy to be stable, and can also expect more financing from World Bank as the island emerges from a conflict, an official said. The US Federal Reserve devalued its currency against gold in 1933 setting the […]
Garment scraps head for Western living rooms at Christmas
HATIBANDHA, December 19, 2010 (AFP) – Every year, Bangladesh’s garment sector produces billions of dollars worth of high-street clothes for major western brands — and generates mountains of fabric offcuts in the process. While an informal recycling sector has sprung up to deal with the scraps of leftover jeans and T-shirts churned out by the […]
Sri Lanka to get funding from higher cost window: World Bank
Dec 18, 2010 (LBO) – Sri Lanka has qualified to get loans from a higher cost window of the World Bank amid rising incomes, which will double access to annual funds, managing director Ngozi Okonjo-Iweala said. Sri Lanka also now has access to capital markets. Countries with access to capital markets and which are deemed […]
Sri Lanka rights probe urged by US lawmakers
WASHINGTON, December 18, 2010 (AFP) – Dozens of US lawmakers on Friday urged a global probe into alleged rights violations by Sri Lanka in the last stages of its civil war, saying Colombo’s own efforts do not ensure accountability. In letters to Secretary of State Hillary Clinton, 17 senators and 30 members of the House […]