Author: lbostgadmin
Lofty Plans
June 23, 2010 (LBO) – A unit of Sri Lankan high-end retailer Odel may reconsider to build a shopping mall with the parent firm making a full provision to cover a 45.2 million rupee loan due from the unit, its share issue prospectus showed. “Although yet to commence operations, this Board of Investments (BOI) approved […]
Sri Lanka tea output up in May
June 23, 2010 (LBO) – Sri Lanka™s tea production in May 2010 rose 12.9 percent to almost 30.3 million kilos as production continued to recover from a downturn the year before, Tea Board data showed. The annual production in 2008 hit a record high of 318 million kilos. Corrected – annual production figure Tea production […]
Banking Regulators
June 23, 2010 (LBO) – Si lanka’s Central Bank has promoted four officers as assistant governors from June 15 as part of the bank’s succession plan, a statement said. The new assistant governors are Y A de Silva, W M Hemachandra, S Lankathilake, and C J P Siriwardena. Y A de Silva, a former Director […]
Port Move
June 23, 2010 (LBO) The Sri Lanka ports Authority has signed a contract with a Chinese firm, China Harbour Engineering Company, to start the second phase of a new port in Hambantota on the south coast, a statement said. Phase two of the project will include further excavation of the site for the harbor basin […]
Sri Lankan stocks close 0.51-pct down on profit taking
June 22, 2010 (LBO) – Sri Lankan stocks closed down Tuesday as retail investors took profits while penny stocks continued to be heavily traded, brokers said. The All Share Price Index closed at 4,634.73, down 23.95 points, while the Milanka index of more liquid stocks fell 0. 67 percent (35.95 points) to close at 5,303.81. […]
Sri Lankan stocks close 0.94-pct down, retailers sell
June 23, 2010 (LBO) – Sri Lankan stocks fell below 4,600 points Wednesday, as retail investors with weak holding capacity sold to minimize losses, while losses in selected index heavy shares also dragged down the market, brokers said. The All Share Price Index closed at 4,591. 17, down 43.56 points, while the Milanka index of […]
Sri Lanka Treasuries yields up
June 23, 2010 (LBO) – Sri Lanka’s Treasury bill yields rose at Tuesday’s auction, with the government selling more than the maturing volume to raise new money, the government’s debt office said. The debt office sold 2.177 billion rupees in 3-month bills, 4. 5 billion in 6-month bills and 4. 611 billion rupees in 12-month […]
Sri Lanka war crimes probe set up by UN
UNITED NATIONS, June 22, 2010 (AFP) – UN chief Ban Ki-moon Tuesday set up a panel to investigate allegations of human rights abuses in the final months of the civil war in Sri Lanka, his spokesman said. Ban launched the investigation “to advise him on the issue of accountability with regards to any alleged violations […]
Sri Lanka beat India with Maharoof hat-trick
DAMBULLA, June 22, 2010 (AFP) – Seamer Farveez Maharoof grabbed a hat-trick on his way to 5-42 as Sri Lanka beat India by seven wickets in the last league match of the Asia Cup on Tuesday. Maharoof’s feat helped knock India over for 209, before senior pros Kumar Sangakkara and Mahela Jayawardene helped the defending […]
Sri Lanka told no unconditional extension of EU trade benefits
June 22, 2010 (LBO) – The European Union will not unconditionally extend the GSP Plus trade deal giving Sri Lankan exporters duty free access to European markets, the EU Delegation in Colombo said. The EU is ready to extend the GSP Plus deal for a limited period when it is set to end on August […]
India eyes double-digit economic growth by 2013
MADRID, June 21, 2010 (AFP) – The Indian economy, Asia’s largest after Japan and China, is accelerating and could reach double-digit growth by 2013, Indian Trade Minister Anand Sharma said Monday during a visit to Spain. “We hope to grow at a rate of between 8.5 percent to 9.0 percent this year and we are […]
High Fashion
June 22, 2010 (LBO) – Sri Lankan retailer Odel said it made 141.8 million rupees in net profits last year, as sales recovered and margins improved, with money from a share issue to be used to retire debt and expand. The retail chain’s profits for the financial year ending March 2010, revealed for the first […]