Author: lbostgadmin
Ship Building
Nov 13, 2009 (LBO) – Sri Lankan ship builder Colombo Dockyard said net profit for the September 2009 quarter almost doubled from a year ago with earnings boosted by orders to build new vessels for overseas customers.The yard, which is majority owned by Japan’s Onomichi Dockyard, said in a stock exchange filing that September quarter […]
Sri Lanka stocks end up 1.77-pct
Nov 13, 2009 (LBO) – Sri Lankan shares ended firmer Friday with investors encouraged by the latest crop of quarterly company earnings although trading volumes were low, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index closed at 2,979.41, up 1.77 […]
Sri Lanka expects 6.0-pct growth from 4Q: CB Governor
Nov 12, 2009 (LBO) – Sri Lanka’s economic growth is projected to touch 6.0 percent in the fourth quarter of 2009 allowing the country to return to a higher growth path from 2010, Central Bank Governor Nivard Cabraal said.Cabraal said government tax revenues, another direct indicator of economic activity, have also picked up. “Overall we […]
‘s top general quits: military source
November 12, 2009 (AFP) – Sri Lanka’s top general, Sarath Fonseka, the architect of the army’s victory over Tamil rebels who was switched to a more ceremonial position, quit Thursday, a military source said.Fonseka declared during a visit to the United States last month that he was willing to shed his uniform and take up […]
Sri Lanka Sunshine Holdings eyes energy projects
Nov 12, 2009 (LBO) – Sri Lanka’s Sunshine Holdings said it is considering diversifying into the energy sector as part of the holding company’s strategy of expanding its portfolio of investments.Chairman Rienzie Wijetilleke said in a statement the group has a new subsidiary called Sunshine Power. “In accordance with long term diversification strategies to add […]
Sri Lanka apparel sector needs GSP plus: workers
Nov 12, 2009 (LBO) – Claims that alternative markets can be found if Sri Lanka loses European Union trade concessions are a ‘joke’ and if human rights are violated the state should take corrective action, apparel sector trade unions have said. The EU has threatened to withdraw access granted to Sri Lanka under its Generalised […]
Sri Lanka looks to mobile phones to improve farmer livelihoods
Nov 12, 2009 (LBO) – Sri Lanka’s information technology agency aims to deploy more widely a web-based crop price tracker and use mobile phones to help farmers improve production and marketing, an official said. Chitranganie Mubarak, Senior Programme Head – e-Society, of the Information Communications Technology Agency (ICTA), said the project is part of the […]
Sri Lanka Charter House clinches Maldives hotel deal
Nov 12, 2009 (LBO) – Sri Lanka’s Charter House International, a marketing and distribution group, said it has won an order to supply a new resort hotel run by Mount Lavinia Hotel Resorts in a Maldivian atoll.The company said in a statement it will supply bathware and sanitary fittings and hotel equipment for the TClub […]
Sailing Away
Nov 12, 2009 (LBO) – Delays at Colombo port caused by disruptive labour union action might prompt international shipping lines to shift their hard-won custom to competing ports, the Sri Lanka Ports Authority (SLPA) has warned. The SLPA had promised “efficient and fast port services” and “higher productivity” to win the custom of the shipping […]
Sri Lankan stocks up in low volume trade
Nov 12, 2009 (LBO) – Sri Lankan stocks closed up almost across the board Thursday, boosted by gains in selected index heavy blue chips despite low trade volumes, while retail investor sentiment remained poor, brokers said. The All Share Price Index closed at 2,927.56, up 2.57 percent (73.32 points) while the Milanka Price Index of […]
Sri Lanka Treasuries yields fall 950bp over past year: Central Bank
Nov 11, 2009 (LBO) – Sri Lanka’s Treasury bill yields have fallen 947 to 950 basis points at primary auctions over the past year, helped by easier monetary policy, foreign investment into Treasuries and lower inflation, the Central Bank said.At Wednesday’s auction 3-month yields fell to 7.73 percent, the 6-month yield fell 22 basis points […]
‘s boat people: Dying to strike it rich
MARAWILA, November 11, 2009 (AFP) – For 50 young Sri Lankans who had paid up to 1,500 dollars each for the chance of a new life, a five-week voyage in the hold of a fishing boat ended in an Australian camp for illegal migrants.Their families had sold property and whatever other assets they had to […]