Author: lbostgadmin
‘s Aitken Spence eyes health tourism, new resorts
Aug 26, 2009 (LBO) – Sri Lanka’s Aitken Spence Hotels is expanding the profitable health tourism business and plans new resorts on prime beach properties kept dormant during the ethnic war, a senior official said. “The Maldives as a whole has experienced a downturn because of the global economic turmoil.But we’re seeing a recovery and […]
Sister Ship
Aug 26, 2009 (LBO) – Sri Lanka’s Mercantile Shipping Company, a listed ship owner, said it will take delivery of its second newly built cargo ship in November.The first of a pair of new cargo ships built by a Dutch yard and named Mercs Uva was delivered last month and has already been charted out, […]
Ship Arrest
Aug 26, 2009 (LBO) – An Indian-owned container vessel arrested by Sri Lankan port authorities for non-payment for fuel supplies has been released after the owners paid the supplier. The High Court of Colombo ordered the arrest of MV Gati Pride on August 14 after ship fuel supplier Lanka Maritime Services sought its detention saying […]
Sri Lankan stocks up 0.22-pct
Aug 26, 2009 (LBO) – Sri Lankan shares closed up on Wednesday as investors eyed selected blue chip and hotel counters looking to profit from a possible resurgence in the medium term, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.22 percent (5.59 points) to end at 2,553.03 while the Milanka […]
Sri Lanka T-bill yeilds frozen for third week
Aug 26, 2009 (LBO) – Sri Lanka’s Treasury bill yields were frozen at the weekly auction for the third week running, in auction where 10.1 billion rupees out of a maturing 12.0 billion was sold to the market, the government’s debt office said.The 3-month yield stayed at 10.57 percent, the 6-month yield at 11.43 percent […]
Sri Lanka foreign reserves US$3.2bn: CB governor
Aug 25, 2009 (LBO) – Sri Lanka’s foreign reserves have topped 3.2 billion dollars after a large inflow into the country’s government securities market, Central Bank Governor Nivard Cabraal said. “You will see enormous opportunities,” Cabraal told a forum on Islamic financial instruments organized by Rating Agency Malaysia in Colombo. “There will be extraordinary positions […]
” by S&P
Aug 25, 2009 (LBO) – Standard & Poor’s has lifted the outlook on Sri Lanka’s speculative ‘B’ sovereign rating to ‘stable’ from ‘negative’ on expectations of better policy under an International Monetary Fund program and capital inflows. A sovereign rating measures the creditworthiness of the government. Sri Lanka’s high spending governments, that frequently borrows from […]
Sri Lankan court bails war-zone doctors
August 24, 2009 (AFP) – A Sri Lankan magistrate on Monday bailed four doctors held for allegedly spreading rebel propaganda before the defeat of the Tamil Tigers. The doctors were arrested in May after they left an area where security forces fought the final battle against the separatist rebels. “They have been asked to post […]
Microsoft revs up low-budget mobile phones
SAN FRANCISCO, August 24, 2009 (AFP) – Microsoft on Monday unveiled software that lets Twitter, Facebook and other hot Internet services be delivered to low-cost “feature phones” common in developing countries.The US technology giant will debut OneApp in South Africa and hopes to swiftly roll it out in India, China and other countries where millions […]
Cairn on brink of big win in India oil gamble
NEW DELHI, August 25, 2009 (AFP) – Oil entrepreneur Bill Gammell took a big gamble 12 years ago — and his winnings look set to start rolling in as Cairn Energy, the company he heads, begins to pump oil from under western India.Cairn aims to draw 175,000 barrels of oil per day — accounting for […]
Sri Lanka coconut exporter wins agribusiness award
Aug 25, 2009 (LBO) – Renuka Agrifoods, a Sri Lankan exporter of value-added agro-based products, especially coconut, has won a top award for agribusiness.The company, a subsidiary of the listed Renuka Holdings, said in a statement it was named Overall National Winner (Gold Award) at the recent National Agribusiness Awards 2009. It also clinched the […]
Bank Capital
Aug 25, 2009 (LBO) – Sri Lanka’s Seylan Bank said the Colombo stock exchange has approved its application to list new ordinary shares in an effort to raise fresh capital.Seylan Bank was brought under the supervision of the banking regulator, the Central Bank, after it faced a run following the collapse of an unlisted Ceylinco […]