Author: lbostgadmin
‘s share of urban bond
Oct 05, 2010 (LBO) – Sri Lanka’s Urban Development Authority has allocated the bulk of a 10 billion rupee bond issue to larger investors to applied for more than 10 million rupees each, a statement said. Resident investors who applied for up to 10 million rupees will be allotted in full being given a total […]
Sri Lanka ex-army chief vows to fight from jail
October 4, 2010 (AFP) – Sri Lanka’s jailed ex-military chief and opposition leader Sarath Fonseka vowed to fight for democracy as he was escorted out of prison Monday to attend another court case against him. Fonseka, 59, told supporters outside the Colombo High Court that he was prepared to sacrifice his life and will not […]
Sri Lanka told to speed up paper work for trade with India
Oct 04, 2010 (LBO) – Early issue of export documentation by Sri Lankan authorities could help reduce delays in clearing goods shipped to India under a free trade deal, trade experts and economists told a forum. The Indo-Lanka free trade agreement (FTA) has eliminated or reduced import duties, improving market access for businesses in both […]
Sri Lankan firms offered carbon emission reduction service
Oct 04, 2010 (LBO) – Reducing carbon emissions can give Sri Lankan businesses a competitive advantage, according to officials of a new company offering carbon reduction services. Carbon Consulting Company (CCC) has been appointed as an approved reseller of The CarbonNeutral Company’s services, including carbon offsets and certification. We can no longer depend on trade […]
Tele Bid
Oct 04, 2010 (LBO) – India’s Tata Communications had put in a bid for Sri Lanka’s Suntel, a unit of Sweden’s Telia which runs a fixed access wireless network in the island, a media report said. India’s Economic Times said, Tata Communications Ltd (TCL) formerly a state-run firm in which the government still owns 26 […]
Tele Trends
Oct 04, 2010 (LBO) – Sri Lanka’s mobile subscribers grew 25.4 percent to 15.86 million in the second quarter of 2010 from a year earlier and a wireline contraction has bottomed out, official data shows. At the end of the second quarter of 2010 Sri Lanka had 15.86 million mobile users up from 11.49 million […]
Risky Ventures
Oct 04, 2010 (LBO) – Sri Lankans investing in unregulated investment schemes face higher risks and should not expect government bailouts if their investments go sour, the banking regulator has warned. Central bank governor Nivard Cabraal said the regulator has repeatedly warned the public of the risk of investing money in unregulated institutions and publicised […]
Sri Lankan stocks close down 0.80-pct
Oct 04, 2010 (LBO) – Sri Lankan shares closed down on Monday, pulled down by falls in index heavy stocks, while big stakes of Hatton National Bank (HNB) changed hands in private deals pushing turnover over 12 billion rupees, brokers said. John Keells Holdings, an index heavy conglomerate closed at 349.00 rupees, down 5.50. The […]
” rating from RAM
Oct 04, 2010 (LBO) – Sri Lanka’s Lankem Ceylon, a strong player in the island’s agro chemicals market has been given a long term rating ‘A-‘ by RAM Ratings Lanka with a stable outlook. “The ratings reflect stable demand for agrochemicals and dominant market positions in most business lines; however the ratings are pressured by […]
Sri Lanka Telecom looks to raise US$125mn
Oct 04, 2010 (LBO) – Sri Lanka Telecom, the island’s largest fixed access operator, may raise 125 million US dollars from bonds to fund expansion if the terms are right, as business conditions in the island improve, an official said. “We want to raise 125 million US dollars,” SLT’s chief financial officer Shiron Gooneratne said. […]
‘s iron security, blistering heat
NEW DELHI, October 3, 2010 (AFP) – “It’s a dream come true,” squealed 16-year-old Shikha Saini as she patiently queued to enter the Jawaharlal Nehru stadium, venue of Sunday’s lavish opening ceremony of the Commonwealth Games. A wearying, marathon walk up to the main entrance more than three hours ahead of the start of the […]
Sri Lanka hopes to use war strategy on economy
Oct 02, 2010 (LBO) – The skills that enabled Sri Lanka win against Tamil separatists can be used to revive the economy and catch up on growth lost by 30 years of war, an architect of the military campaign said. One of the key weaknesses was lack of manpower to hold areas cleared of Tamil […]