Author: lbostgadmin
Sri Lankan stocks close down 0.35-pct
July 09, 2010 (LBO) – Sri Lankan stocks closed down Friday as investors took profits from Thursday’s gains, while low value shares continued to dominate market volumes, brokers said. The All Share Price Index closed at 4,505.69, down 15.71 points, while the Milanka index of more liquid shares dipped 0. 38 percent (19.22 points) to […]
Sri Lanka UN representative recalled amid war crimes row
UNITED NATIONS, July 8, 2010 (AFP) – UN chief Ban Ki-moon recalled Thursday his main representative in Sri Lanka and closed down offices in Colombo that have been the scene of angry protests over a United Nations war crimes panel. “The secretary-general finds it unacceptable that the Sri Lankan authorities have failed to prevent the […]
Sri Lanka apparel industry downplays loss of EU trade deal
July 08, 2010 (LBO) – The end of a trade deal giving duty free market access to Europe will not be a ‘catastrophe’ though it would squeeze already thin profit margins, an industry official said. A Sukumaran, a clothing exporter who is chairman of the Joint Apparel Association Forum, an industry body, said they were […]
SriLankan Airlines launches Shanghai, China flights
July 08, 2010 (LBO) – Sri Lankan Airlines has launched its four-times a week service to Shanghai, China’s commercial capital, which the airline says is the third Chinese city in its route network. The first flight landed in Shanghai July 01. The route is operated on wide-body Airbus A330 and A340 aircraft via Bangkok on […]
Sri Lankan Airlines to set up flight simulator centre with Dutch firm
Computer Play July 08, 2010 (LBO) – SriLankan Airlines will set up a flight simulator centre with SIM Industries of the Netherlands targeting the growing South Asian regional market for pilot training, the airline said. “We have been looking at opportunities in South Asia for some time, and there is no doubt that Colombo is […]
Security Change
July 08, 2010 (LBO) – Sri Lanka is rapidly removing military checkpoints and transferring public security to the police to return the country to normalcy after the end of a 30-year war, defence secretary Gotabhaya Rajapaksa said. He said in the eastern province the change-over was being successfully carried out. “In Colombo we are gradually […]
Sri Lanka draws cruise ships after end of war
July 08, 2010 (LBO) – Sri Lanka is once again becoming an attractive destination for cruise ship operators with the end of a 30-year ethnic war, the head of one of the island’s biggest conglomerates said. “Galle will be a very attractive destination to break journey. They would like to have a 3-4 day stop […]
Capital Needs
July 8, 2010 (LBO) – Merchant Bank of Sri Lanka, a unit of state-run Bank of Ceylon, may need to inject new capital into a troubled savings bank and insurance firm it bought during an economic downturn, a rating agency said. RAM ratings confirmed Merchant Bank of Sri Lanka’s (MBSL) ‘AA-‘ domestic long term rating […]
Nearly Docked
July 8, 2010 (LBO) – A deal to build a container terminal in an expanded Colombo port will be awarded to a China – Sri Lanka consortium within ‘two to three weeks’ Treasury Secretary P B Jayasundera said. Sri Lanka’s listed Aitken Spence and China Merchant Holdings, a state-run port operator, were the only bidder […]
Sri Lanka shares recover
July 08, 2010 (LBO) – Sri Lankan stocks closed higher Thursday, recovering after five consecutive trading days of losses with a private deal in shares of a commercial bank dominating the day’s turnover, brokers said. The All Share Price Index closed at 4,521.40, up 1.13 percent (50.62 points) while the more liquid Milanka index rose […]
Sri Lanka T-bill yields steady
July 08, 2010 (LBO) – Sri Lanka’s Treasury bill yields were steady at this week’s auction with the 3-month yield flat at 8. 07 percent, the 06 month climbing 03 basis points to 8. 96 and the 12-month yield flat at 9.29 percent, the government’s debt office said. The debt office, which is a unit […]
Sri Lanka developing concept plan for Colombo
July 07, 2010 (LBO) – Sri Lanka is drawing up a concept plan to develop Colombo city, clear under-utilized area, reclaim land from the sea and open them for development by the private sector, officials said. Treasury secretary P B Jayasundera said plans for a ‘new city’ reclaimed out of the sea would be announced […]