Author: lbostgadmin
Export Formula
Dec 09, 2008 (LBO) – Sri Lankan industrial exporters say the lack of a transparent price formula especially for diesel has increased their production cost against foreign competitors, especially at a time when the rupee is also overvalued. In Sri Lanka petroleum pricing has become heavily politicized since 2004, after the Janatha Vimukthi Peramuna, a […]
Sri Lanka hydro power firm to fast-track Uganda project: report
Dec 10, 2008 (LBO) – A Sri Lankan hydro-power firm which has developed a string of private plants in the island, has been engaged to speed up a stalled hydro-electric project in Uganda, a media report said. D’Ujanga said the new firms were expected to speed up the project despite being involved in a larger […]
Sri Lanka clothing exporter goes east with US aid
Dec 10, 2008 (LBO) – Brandix Lanka, a top Sri Lankan clothing exporter, has got US aid to train workers in a new factory it has set up in the island’s east which the government is trying to develop after driving out Tamil Tiger rebels.The US Agency for International Development and Brandix Lanka are working […]
Sri Lankan govt has public backing for war on Tigers: survey – Poll
December 10, 2008 (AFP) – The Sri Lankan government has overwhelming public support for its war against the Tamil Tigers, and most people believe the rebels will soon be defeated, an opinion poll published Wednesday shows. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The privately run […]
Sri Lanka tea prices recover slightly after steep fall
Dec 10, 2008 (LBO) – Prices of Sri Lanka’s low grown teas recovered slightly at this week’s auction after plunging for several weeks but it was not clear if they had bottomed out. Teas from the high and mid-grown elevations produced mainly by listed regional plantations companies fell mainly because of lower quality. Forbes & […]
Interbank Deal
Dec 10, 2008 (LBO) – Sri Lanka’s public listed Commercial Bank of Ceylon says it has sought legal advice over a derivative deal with state-run People’s Bank which was sold to a state petroleum distributor. Sri Lanka’s Supreme Court has halted payments to banks which provided a complex derivative to state-run Ceylon Petroleum Corporation after […]
Sri Lanka shares break slide on thin trading
Dec 10, 2008 (LBO) – Sri Lankan shares ended slightly firmer Wednesday but on razor thin turnover with brokers saying the minor upturn after a long slide was likely to be short-lived. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index gained 1.31 […]
Sri Lanka rupee slips to 110.65 against greenback
Dec 10, 2008 (LBO) – The Sri Lanka rupee slipped to 110.65/75 against the greenback on Wednesday from 110.30 two days earlier, but the central bank is continuing to intervene at the new rate, dealers said. The Sri Lanka rupee had come under severe pressure from central bank liquidity injections to maintain reserve money, following […]
Sri Lanka govt opposes no-confidence motion on derivative losses
Dec 08, 2008 (LBO) – Sri Lanka’s ruling party has opposed an opposition attempt to move a no-confidence motion on an oil hedging deal saying it related to matters in court and the country’s president was named. The main opposition United National Party said documents submitted to parliament were separate from those in court and […]
Sri Lanka opposition moves no-confidence motion over derivative losses
Dec 08, 2008 (LBO) – Sri Lanka’s main opposition has put forward a no-confidence motion against the government Monday on the eve of a budget vote, involving an exotic derivative deal that brought hundreds of millions of dollars in losses to a state-run oil firm. The United National Party has handed over the motion to […]
Sri Lanka minister gets opposition post: official
Dec 08, 2008 (LBO) – Sri Lanka’s main opposition United National Party has appointed a rebel member who is a government minister as its deputy leader, while a new post of assistant leader was also created, a senior party official said. UNP General secretary Tissa Attanayake said Karu Jayasuriya, who had the public administration portfolion […]
Sri Lanka say troops poised to take Tiger HQ
December 8, 2008 (AFP) – Sri Lankan government troops were Monday poised to finally capture the political headquarters of the rebel Tamil Tigers after months of fierce fighting, officials said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Security forces were said to be within “kissing distance” […]