Author: lbostgadmin
Sri Lanka’s Nestlé unit net up 4-pct in Dec quarter
Feb 24, 2016 (LBO) – Nestlé Lanka, a unit of a Swiss-based food group said profits rose 4 percent to 640 million rupees in the December 2015 quarter from a year earlier. The firm reported earnings of 11.92 rupees per share for the quarter against 11.44 rupees reported a year earlier. In the twelve months […]
‘s can open new doors for Sri Lanka’s real estate market
Feb 24, 2016 (LBO) – Sri Lanka’s property market will see new market space opening up with the introduction Real Estate Investment Trusts (REITs), a new capital market tool, an investment specialist said. “REIT’s will transform the capital market and give new shape to the real estate market,” Hardy Jamaldeen, director, Sterdian Capita Investment said. […]
ADB to help Sri Lanka expand Colombo port operations using PPP
Feb 24, 2016 (LBO) – The Asian Development Bank (ADB) and Sri Lanka Ports Authority (SLPA) signed a transaction advisory services agreement Tuesday to develop the East Container Terminal (ECT) of Colombo Port through public–private partnership (PPP). The signing was witnessed by Takehiko Nakao, President of ADB, and Sri Lanka’s Finance Minister Ravi Karunanayake. “The […]
Sri Lanka to get 100Mn loan from ADB for SME sector
Feb 23, 2016 (LBO) – Sri Lanka’s government signed a loan agreement with the Asian Development Bank (ADB) to borrow 100 million US dollars to implement a small and medium enterprise credit line project, the Finance Ministry said. “The project aims to increase the employment opportunities by strengthening the SME’s access to finance,” the Finance […]
Sri Lanka inflation NCPI decelerates 0.7-pct in Jan 2016
Feb 23, 2016 (LBO) – Sri Lanka’s consumer prices decelerated 0.7 percent in January from a year earlier, compared with a 4.2 percent rise in December, data from the state statistics office showed. In December, inflation rose at a slower pace as compared with November’s 4.8 percent, the new index with a base year of […]
Sri Lanka lending to increase to USD 2Bn by 2016: ADB President
Feb 23, 2016 (LBO) – Asian Development Bank said it will scale up lending to Sri Lanka to 2 billion US dollars in loans and equity in 2016 through 2018 compared to the 1.5 billion US dollars in the past three years. “ADB is re-orienting its operations to meet the evolving needs of Sri Lanka […]
Sri Lanka offers discount for Myanmar Transshipments, threat from Vizhinjam
Feb 23, 2016 (LBO) – Sri Lanka Ports Authority has decided to grant a 10 percent discount on transshipment handling charges of the ship companies who comply to carry out Myanmar transshipment operations through the Colombo port. The decision aims to attract fast growing transshipment industry in Eastern India, Bangladesh and Myanmar, to the Colombo […]
PTL Watch: Sri Lanka bond yields climb 30-40bps after rate hike
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ADB President arrives in Sri Lanka
President of the Asian Development Bank Takehiko Nakao arrived in Sri Lanka yesterday night on a two-day official visit. The ADB President, accompanied by two ADB officials, will meet top government dignitaries and officials, today. The discussions with the ADB president are expected to focus on obtaining more development assistance to Sri Lanka.
USAID helps Polonnaruwa dairy farmers increase milk sales
Representatives from the Embassy of the United States of America and senior Sri Lankan officials presided at the February 18 signing of a Memorandum of Understanding (MoU) between dairy farmers, CIC Dairies, and Milk Industries of Lanka (Pvt.) Ltd. The MoU will help dairy farmers in Polonnaruwa to increase their milk sales. The Honorable Minister […]
Post-sanctions Iranian delegation in Sri Lanka to boost trade
Feb 23, 2016 (LBO) – A 30-member Iranian delegation arrived in Sri Lanka headed by its Energy Minister Hamid Chitchian. The delegation consists of members from government, the Iranian private sector and a trade chamber. “In our new era, we want closer cooperation with Sri Lanka,” Chitchian said according to a Ministry of Industry and […]
Samsung unveils Galaxy S7 and S7 edge next generation smartphones
Feb 22, 2016 (LBO) – Samsung Electronics on Monday announced the newest additions to the Galaxy family of products, Samsung Galaxy S7 and Galaxy S7 edge. Created for today’s consumer lifestyle, Galaxy S7 and Galaxy S7 edge lead the industry with a refined design, more advanced camera, streamlined software functionality and unparalleled connectivity to a […]