Author: lbostgadmin
Sri Lankan stocks close 0.1 lower on retail profit taking
June 15, 2010 (LBO) – Sri Lankan stocks closed 0. 1 percent lower Tuesday as retailers took profits from mid and low cap stocks, despite banks making gains, brokers said. In another private deal 250,000 Nations Trust Bank shares changed hands at 50.50 rupees per share. It closed at 50.50 rupees, up 1.25, brokers said. […]
Sri Lanka budget gap narrows in 1Q 2010
June 14, 2010 (LBO) – Sri Lanka’s budget gap has narrowed in the first quarter of 2010, with revenues picking up and the government also keeping a lid on current expenses from a year earlier, official data show. Total revenues were up 26.3 percent to 182.7 billion rupees in the three months to March and […]
Sri Lanka to sell US$275mn in bonds
June 14, 2010 (LBO) – Sri Lanka is rolling over 275 million US dollars in two and three-year government bonds which pay a 6-month month floating rate coupon, the government’s debt office said. Only 92 million US dollars in bonds out of a total of 100 million was sold through an auction and the balance […]
‘s big four launch World Cup preparations
DAMBULLA, June 14, 2010 (AFP) – Asia’s Test-playing nations begin their preparations for next year’s World Cup when they contest the region’s top one-day prize from Tuesday. Away from the global spotlight on the football World Cup in South Africa, the four-nation Asia Cup will be played in Sri Lanka over the next 10 days. […]
Sri Lanka Hemas eyes renewable power as post-war demand rises
June 14, 2010 (LBO) – Sri Lanka’s Hemas Power is building another hydropower plant, raising generation capacity to 24 Giga Watt hours (millions of units) of energy a year from hydro plants which it plans to expand in preference to fossil-fuel power. Hemas also has a joint-venture company called Heladhanavi which generates thermal power and […]
” apparel plant seen as global model
June 14, 2010 (LBO) – The United Nations Industrial Development Organization (UNIDO) has recommended as a global model an environmentally friendly apparel plant owned by Sri Lanka’s Brandix Group, a statement said. Visiting UNIDO Director General Dr. Kandeh Yumkella toured the facility in Seeduwa, north of Colombo, last week. “I am pleased to recommend this […]
Mobile Move
June 14, 2010 (LBO) – Etisalat’s Sri Lanka unit has invited developers to create mobile applications and is offering to share 70 percent of revenue from sales, an official said. Dumindra Ratnayaka, chief executive of Etisalat Sri Lanka said the firm, which was taken over by Etisalat Telecommunication Corporation in the UAE in February 2010, […]
Virtual Ad
June 14, 2010 (LBO) – Sri Lanka’s Triad Advertizing has launched Triadhot.com, a virtual advertising agency, to service global clients’ online advertizing at lower cost than existing international competition, a statement said. The agency would offer research, strategies, creative ideas, storyboards and jingle scripts on demand for its customers, it said. Triadhot.com would be based […]
Trade Debate
June 14, 2010 (LBO) – The recent protests in Colombo by a vocal group of businesses have brought to the fore the issue of Comprehensive Economic Partnership Agreement (CEPA) and its merits and demerits in the Sri Lankan context. Any independent observer will agree that the debate has got shrouded in emotion, and at times, […]
Bank Numbers
June 14, 2010 (LBO) –Indian Bank’s March quarter profits rose 32.4 percent to 296.3 million rupees on lower operating costs and reversals on provisions, while net interest margins shrank from lower interest income and dud loans rose, its accounts showed. In the March 2010 quarter, the Sri Lankan unit of Indian Bank said interest income […]
Sri Lanka stocks close 1.13-pct up
June 14, 2010 (LBO) – Sri Lankan shares closed at a new high passing 4,600 points on the benchmark index Monday, pushed up by selected index-heavy blue chips, while retail investors took profits on mid and small-cap stocks, brokers said. The All Share Price Index closed at 4,612. 76, up 51.43 points, while the Milanka […]
‘s Commonwealth Games face monsoon test
NEW DELHI, June 13, 2010 (AFP) – New Delhi residents can’t wait for the onset of the monsoon to bring relief from the summer heat, but the impending rains could spell further trouble for Commonwealth Games organisers. “There is no doubt everything will be ready on time, whatever anyone may say,” organising committee secretary-general Lalit […]