Author: lbostgadmin
Sri Lanka Hayleys to increase exports to food chains
Feb 03, 2010 (LBO) –Sri Lanka™s Hayleys conglomerate is building a factory in the former war zone in the east to increase exports of pickled gherkins to food companies such as McDonald™s and Burger King. The partnership will open up new markets for farmers in the east, increase their incomes and expand the economic base […]
Sri Lanka Spence Hotel Dec net profit Rs210mn
Feb 03, 2010 (LBO) – Sri Lanka’s Aitken Spence Hotel Holdings made a December quarter net profit of 210 million rupees with total revenues up 20 percent to 1.98 billion rupees from a year ago. According to accounts filed with the stock exchange, the net profit in the quarter, although nominally down 41 percent from […]
Sri Lankan stocks close 0.31-pct down
Feb 03, 2010 (LBO) – Sri Lankan shares closed down Wednesday as retailers took profits on counters that rallied in recent weeks, while renewed interest on selected midcap stocks boosted their share prices, brokers said. The benchmark All Share Price Index (ASPI) closed at 3,697.80 points, down 11.33 points, while the Milanka index of more […]
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February 2, 2010 (AFP) – Rights monitor Amnesty International urged Sri Lanka on Tuesday to end what it described as a post-presidential election “clampdown” on the media, political opponents and human rights activists. Pressure on government critics has been mounting since President Mahinda Rajapakse was re-elected on January 26, defeating his former army chief Sarath […]
Retail Profits
Feb 02, 2010 (LBO) – December quarter profits at Sri Lanka’s largest supermarket chain, Cargills (Ceylon) group, rose 49. 1 percent from a year ago despite flat sales growth, as finance costs fell interim results showed. The group made a net profit in the December quarter of 189. 8 million rupees despite total revenues staying […]
Slow Growth
Feb 02, 2010 (LBO) – Sri Lanka’s Keells Food Products group made a loss of 54 million rupees in the December quarter largely owing to losses in its India business which however it is continuing to expand, interim results showed. Revenues of the company, part of the John Keells conglomerate, fell four percent to 513 […]
Sri Lanka Horana Plantations Dec net up on high tea prices
Feb 02, 2010 (LBO) – High tea prices helped Sri Lanka’s Horana Plantations to make a profit of 75 million rupees in the December, according to accounts filed with the stock exchange. Horana Plantations said the wage deal was effective from April 2009 and that wage arrears amounting to 68.05 million rupees has been recognised […]
Sri Lanka tourism authority gets new boss
Feb 02, 2010 (LBO) – Sri Lanka’s tourism minister has appointed a new chairman, Eranga Basnayake, to the tourism development authority, an official said. In another development reports said Sri Lanka Telecommunications Regulatory Commission director general Priyantha Kariyapperum has resigned. Ministry secretary George Micheal said the new appointment was made by tourism minister Achala Jagoda. […]
Sri Lankan stocks pass 3,700 point mark
Feb 02, 2010 (LBO) – Sri Lankan shares closed higher and passed the 3,700 point mark for the first time Tuesday as retailers continued to bet on plantations, while some investors took profits on selected blue chips, brokers said. The benchmark All Share Price Index (ASPI) closed at 3,709. 13 points, up 17.74 points, while […]
Sri Lanka Treasuries yields flat
Jan 21, 2010 (LBO) – Sri Lanka’s three and six month Treasury bill yields edged up marginally, while 12 month bills stayed flat at Tuesday’s auction, the government’s debt office said. The 3-month yield increased 04 basis points to 7.99 percent, the 6-month yield increased 03 basis points to 8.93 percent and the 12-month yield […]
Sri Lanka reserve ratio hike not ruled out: CB Governor
Feb 02, 2010 (LBO) – Sri Lanka is open to increasing the ratio of cash banks must deposit with the Central Bank as a policy to contain inflation, Governor Nivard Cabraal said, as consumer inflation accelerated to an eleventh month high in January. Sri Lanka’s market risk free rates have already started to move up […]
‘s fortunes slump on bubble fears, China tightening
SAO PAULO, January 31, 2010 (AFP) – Fears of a speculative asset bubble and moves by China to rein in an overheating economy have taken their toll on Brazil, eroding equity prices and the national currency, the real. The strongest warning for Latin America’s biggest economy, still seen as one of the most attractive of […]