Author: lbostgadmin
PM says land identified for industry needs for next decade
Jan 06, 2017 (LBO) – Sri Lankan government has already identified lands for the industry needs in the country for the coming 10 to 15 years, Prime Minister Ranil Wickremesinghe said. Addressing a gathering at the RIGID Tyre Plant event Wickremesinghe said the government is ready to formulate new laws for investors while encouraging them […]
Sri Lankan shares rise on bargain hunting, snap 5-day losing streak
Jan 06, 2017 (Reuters) – Sri Lankan shares edged higher on Friday, ending a five-day losing streak and recovering from a nine-month low hit in the prior session as investors picked up battered down shares. Foreign investors turned net buyers on Friday after offloading shares for five straight sessions. The bourse hit a nine-month low […]
Trinco port to India followed by Hambantota to China: JVP
Jan 06, 2017 (LBO) – Sri Lanka’s marxist JVP says the island nation will have to let India control the Trincomalee harbour as a result of giving Hambantota Port to China. Party leader Anura Dissanayake told a public gathering that the Hambantota port deal is a part of the Chinese maritime silk road which ultimately […]
Sri Lankan rupee falls on dollar demand from foreign banks, importers
Jan 06, 2017 (Reuters) – The Sri Lankan rupee traded weaker on Friday due to dollar buying by foreign banks and importers, but the central bank’s moral suasion continued to prevent further decline, days after the monetary authority signalled a change in its intervention policy. Rupee forwards were active, with one-month forwards trading at 151.20/40 […]
Sri Lanka divided as panel backs foreign judges to probe war crimes
Jan 06, 2017 (Reuters) – Sri Lanka should bring in international prosecutors and judges to help investigate alleged atrocities in the civil war that ended in 2009, a task force said on Thursday in recommendations that were welcomed by the United Nations. The Consultation Task Force (CTF), appointed by Prime Minister Ranil Wickremesinghe, said foreign […]
PTL Watch: Sri Lanka bond yields mixed on low volumes
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Sri Lanka’s Laugfs buys third LPG carrier vessel for USD2.9mn
Jan 06, 2017 (LBO) – Sri Lanka’s Laugfs Maritime Services has purchased its third Liquefied Petroleum Gas (LPG) carrier vessel for 2.875 million US dollars. The company said in a stock exchange filing that the vessel earlier named as “Lady Martine” will be renamed as “Gas Courage” under the Sri Lankan flag. Laugfs Maritime Services […]
CCC seeks business community support for CBSL independence
Jan 06, 2017 (LBO) – Sri Lanka’s leading business chamber has called on the business community to support and embrace the Central Bank’s Roadmap 2017 which announced a shift in monetary policy making towards a flexible inflation-targeting framework away from the current money supply targeting framework. The Ceylon Chamber of Commerce said the Monetary Policy […]
Sri Lanka tea auction prices up, good demand
Jan 05, 2017 (LBO) – Sri Lanka tea’s first Auction of the year concluded seeing good demand with high grown tea prices recording gains and low grown teas fluctuating, a report said. “Prices for low grown teas tend to fluctuate whilst High and Mid Grown small leaf teas made an impressive start recording significant price gains,” Forbes […]
Hambantota port proceeds to be used to pay-off higher interest loans: Ravi
Jan 05, 2017 (LBO) – Sri Lanka’s government is planning to use Hambantota port proceeds to pay off higher interest loans which have already been taken, Finance Minister Ravi Karunanayake said. Karunanayake told reporters Thursday that the expected value of 1.1 billion US dollars will be initially used to pay off the loans taken at […]