Author: lbostgadmin
Sri Lanka islet resort by Six Senses chain
Sept 09, 2009 (LBO) – International luxury hotel chain Six Senses is to manage a resort built on an islet on the north west coast of Sri Lanka becoming the first tourism project to be announced after an ethnic war ended, officials said. The 60 mangrove boutique chalets will located within inland water bodies and […]
Sri Lanka to lease islands for hotels
Sept 09, 2009 (LBO) – Sri Lanka plans to lease islands off the north-west coast for tourist hotels, as the travel industry recovers after the end of the 30-year ethnic war, government officials said. We now wonder whether 4,000 rooms will be enough to meet increasing demand, he said. Sri Lanka has seen an upturn […]
Sri Lanka travel firm in pilgrimage market with Indian rail
Sept 09, 2009 (LBO) – Sri Lanka’s Hemas Travels is breaking into the Buddhist pilgrimage market by offering an eight-day tour in a dedicated train in partnership with the Indian rail system. Pilgrims are taken on Mahaparinirvana Express a dedicated train, with sleeping births and dining facilities offered at between 105 to 150 dollars a […]
Sri Lankan shares hit new 28 month high, up 84.9% in 2009
Sept 09, 2009 (LBO) – Sri Lankan shares closed up 2.3 percent Wednesday hitting a new 28-month high as retail investors pushed up the market, though expectations of profit-taking are emerging, brokers said. The benchmark had gained 84.9 percent from the beginning of the year while the Milanka was up 91.7 percent, the Colombo Stock […]
Sri Lanka Treasuries yields flat
Sept 09, 2009 (LBO) – Yields of Sri Lanka government bonds remained flat at Wednesday’s auction with only 8.8 billion rupees out of 12.0 billion rupees of maturing bills being sold to the market, the government’s debt office said.The 3-month average yield was down 01 basis point to 10.54 percent, the 6-month yield was down […]
Bursting economic bubble may have averted greater disaster ahead: Sri Lanka CB chief
Sept 08, 2009 (LBO) – The bursting of a global economic bubble in 2007-2008 may have averted greater disaster ahead, but the global financial community must implement a new framework to prevent recurrences, Sri Lanka’s central bank chief has said. Cabraal said complex financial instruments, especially derivatves, should be subjected to tighter rules and like […]
Sri Lanka Malinga, Samaraweera star in win
September 8, 2009 (AFP) – Lasith Malinga grabbed three wickets off five deliveries to bowl Sri Lanka to a crushing 97-run win over New Zealand in a tri-series match here on Tuesday.The paceman finished with a career-best 4-28 as New Zealand were dismissed for 119 chasing a 217-run target on a slow pitch in the […]
Sri Lanka power firm looks for Rs600mn in IPO
Sept 08, 2009 (LBO) – Sri Lanka’s Hemas Power, a unit of listed Hemas Holdings is seeking up to 626 million rupees through a sale of 31.3 million shares to increase investments in renewable energy. The firm is pushing for growth by moving into renewable energy. It already has a 2MW run of the river […]
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MALE, September 7, 2009 (AFP) – The Maldives, whose fight against rising sea levels has become a cause celebre for environmentalists, said Monday it would have to skip UN climate change talks in Copenhagen this year to save money.Some campaigners said the negotiations would be weakened if the Maldives were missing, given their vocal campaigning […]
Sri Lanka plantations wage talks fail, unions say
Sept 08, 2009 (LBO) – Talks between Sri Lanka regional plantations companies (RPCs) and estate labour unions on a wage hike have failed, resulting in uncertainty about production and exports, officials said.The two-year collective wage agreement between the unions and RPCs expired in March. Labour unions will meet today to decide their future course of […]
Sri Lanka heads for record deficit despite better revenues in June
Sept 07, 2009 (LBO) – Sri Lanka’s state revenues fell 6.15 percent in June from a year earlier, implying an annualized deficit of 10.8 percent of gross domestic product for 2009, but the gap has narrowed from previous months, the latest official data show. In the 6-months to June the state took away 289.7 billion […]
” UN official expulsion: official
September 7, 2009 (AFP) – Sri Lanka is reviewing a move to expel a senior United Nations official over comments he made during the final weeks of the country’s decades long ethnic war, a senior official said Monday.James Elder, communications chief for the United Nations Children’s Fund (UNICEF), was ordered out of the country for […]