Author: lbostgadmin
Sri Lanka blocks US rapper Akon: official
March 23, 2010 (AFP) – Sri Lanka Tuesday said it had refused US rap star Akon entry to the island following protests that a music video he produced was offensive to Buddhists. He said Colombo decided to stop the Grammy Award-nominated star’s concert planned for April 24 despite hopes from the official Tourism Promotion Bureau […]
Sri Lanka mulls aviation complex in former Tiger jungle airstrip
Mar 24, 2010 (LBO) – A makeshift airstrip built by Tamil Tiger separatists in the jungles of northern Sri Lanka is to be turned into an aviation complex under government post-war reconstruction plans, an official said. L H Indrasiri, director, geographical information systems of the Urban Development Authority, said the proposal was part of a […]
Finance Issue
Mar 24, 2010 (LBO) – An initial public offer of shares by Sri Lanka’s Vallibel Finance is seen as being priced to a discount to market given its immediate earnings record, Capital Alliance, the issue’s placement agent, said. Vallibel Finance seeks to raise 114.4 million rupees by selling 5.2 million shares at 22 rupees each. […]
Sri Lankan stocks close 0.21-pct down
Mar 24, (2010) – Sri Lankan shares closed down Wednesday as retail investors remained cautious, while a large deal on index heavy John Keells Holdings (JKH) and Distilleries Company of Sri Lanka boosted turnover, brokers said. JKH closed at 171.00 rupees, up 1.00 with 5.43 million changing hands, brokers said. Hayleys closed flat at 225.00 […]
Sri Lanka warned against excessive foreign reserves
Mar 24, 2010 (LBO) – Holding large foreign exchange reserves could actually be a burden for Sri Lanka’s government and deny funds from badly needed infrastructure and health care, a senior corporate executive has said. Sanjoy Ray, Finance Director of Finlays Colombo said that while foreign exchange reserves could act as a buffer against emergencies, […]
Sri Lanka Treasuries yields edge up
Mar 24, 2010 (LBO) – Sri Lanka’s 3-month Treasury bill yields moved up 05 basis points to 8. 45 percent at Wednesday’s auction, the government’s debt office said. The 6-month yield moved up 05 basis points to 9. 19 percent while the 12-month yield stayed flat at 9.47 percent. The government’s debt office said it […]
Sri Lanka invites investors for township development
Mar 23, 2010 (LBO) – Development of townships around Sri Lanka’s capital Colombo offers investors a range of investment opportunities to build infrastructure and supply services, a senior official said. The Greater Colombo township development, known as the ‘3K’ project from the three towns covered – Kottawa, Kaduwela and Kadawatha – is connected with construction […]
WTO negotiators say scant progress made in trade talks
GENEVA, March 22, 2010 (AFP) – Scant progress has been made in talks for a global trade pact, top negotiators told World Trade Organisation member states Monday, dampening hopes of a deal in the Doha Round soon. The round of negotiations for a trade liberalisation deal are primarily aimed at removing obstacles to trade for […]
India launches ultra-luxury Maharaja train service
KOLKATA, March 23, 2010 (AFP) – India has launched its most luxurious and expensive train service yet, seeking to attract well-heeled foreign rail enthusiasts prepared to pay the minimum 800-dollars-a-night price tag. For most visitors, rail travel in India is an indispensable part of any holiday, although an ability to overlook the often filthy toilets […]
Workforce Skills
Mar 23, 2010 (LBO) – The United States has given 750 scholarships to youth in Sri Lanka’s former war zone in the north and east to help them find jobs, the US Agency for International Development (USAID) said. It said in a statement it recently awarded 500 scholarships in Information and Communications Technology (ICT) to […]
Sri Lanka tea output back to normal levels in February
Mar 23, 2010 (LBO) – Sri Lanka’s tea production in February was back to the usual levels having recovered from the effects of drought and a market crash last year, Tea Board statistics showed. A total of 23.5 million kilos of tea, including green tea, was produced in February 2010, up sharply from the 12. […]
Sri Lankan stocks close 0.33-pct down
Mar 23, 2010 (LBO) – Sri Lankan shares closed down Tuesday as retail investors continued to stay on the sidelines, while private deal on John Keells Holdings (JKH) pushed turnover past a billion rupees, brokers said. The All Share Price Index closed at 3,730. 67, down 12.33 points, while the Milanka index of more liquid […]