Author: lbostgadmin
Cloud Service
Mar 13, 2014 (LBO) – Sri Lanka Telecom said it had started a cloud computing service branded ‘akaza’ as it deploys high speed broadband internet around the country.“Today, around the globe, high-end enterprises, private and public institutions, small and medium enterprises (SMEs) and micro businesses tap into cloud computing to lower their costs and increase […]
Sri Lanka stocks close down 0.3-pct, rupee weaker
Mar 13, 2014 (LBO) – Sri Lanka’s stocks close lower for the fourth consecutive day with tobacco and diversified stocks losing ground and the rupee weakened amid stronger import demand, brokers and dealers said. The Colombo benchmark All Share Price Index closed 19.58 points lower at 5,913.94 down 0.33 percent. The S&P SL20 closed 14.16 […]
Sri Lanka needs near term moderate growth for stability: IMF output gap study
Mar 12, 2014 (LBO) – Sri Lanka has a potential gross domestic product growth of about 6.75 percent a year after the end of a civil war and near term moderate growth may help keep the economy stable, an International Monetary Fund Study has suggested. Proponents of the so-called ‘output gap’ believe that an economy […]
Malaysia seeks more Sri Lankan visitors amid visa fee hike
Mar 12, 2014 (LBO) – Malaysia is seeking more visitors from Sri Lanka and an expansion of weekly flights, amid a ten-fold hike in visa fees that has made travel to the country more expensive.“But we are looking into public comments, agencies comments and also the service level of facilitator if we are to make […]
Sri Lanka stocks end down 0.2-pct
Mar 12, 2014 (LBO) – Sri Lanka’s stocks close 0.19 percent lower Wednesday with leading food and beverage company losing ground, brokers said. SLT closed 70 cents lower at 44.00 rupees and Dialog Axiata closed flat at 9.00 rupees. Asian Hotels and Properties closed 1.00 rupee lower at 58.00 rupees and John Keells Holdings closed […]
Sri Lanka Treasuries ease lower
Mar 12, 2014 (LBO) – Sri Lanka’s Treasuries yields edged lower at Wednesday’s auction with the 3-month yield down 02 basis points to 6.69 percent, the state debt office said.The 6-month yield fell 03 basis points to 6.85 percent and the 12-month yield fell 01 basis point to 7.06 percent. The state debt office said […]
Sri Lanka Lee Hedges in US$9mn office complex
Mar 11, 2015 (LBO) – Lee Hedges Plc, a unit of Sri Lanka’s Pioneer group of companies will build a 1.2 billion rupee, 15-floor office complex, the state investment promotion agency said. The project is implemented through Lee Hedges Investments Ltd, a unit of Lee Hedges Plc which is in the pioneer group. The building […]
Sri Lanka capital to get wetland and beach parks
Mar 11, 2014 (LBO) – Wetland’s in Sri Lanka’s capital Colombo will be preserved and a educational wetland park is also being built, under a World Bank funded program to improve the city, an official said.Seneviratne also said the two ‘beach parks’ will be set up in the north and south Colombo. Rohan Seneviratne additional […]
Gallow Fright
COLOMBO, March 11, 2014 (AFP) – Sri Lanka’s new executioner panicked after seeing the country’s main gallows for the first time and has since gone AWOL leaving the authorities hanging, the top prison official said Tuesday.“But, with this chap leaving, we are now in a quandary,” Pallegama said. “In case the government resumes hanging, we […]
Plastic Cash
Mar 11, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon says it has seen a sharp increase in payments by debit card and 400,000 new cards had been issued over the past year.Outstanding credit was 49.3 billion rupees up from 44.4 billion rupees in December. The bank claims to have the ‘largest active debit […]
Sri Lanka stocks down 0.2-pct, rupee stronger
Mar 11, 2014 (LBO) – Sri Lanka’s stocks close 0.22 percent lower Tuesday with index heavy John Keells Holdings losing ground and the rupee was allowed to appreciate slightly by authorities, brokers and dealers said. The Colombo benchmark All Share Price Index closed 13.04 points lower at 5,944.57 down 0.22 percent. The S&P SL20 closed […]
Sri Lanka no longer “uncomfortable” with inflation blot on economic record
Mar 10, 2014 (LBO) – Sri Lanka is no longer “uncomfortable” with the blot of high inflation in its economic record when meeting international agencies and visiting businessmen, a top official said.“We no longer feel uncomfortable to speak to the International Monetary Fund, the World Bank, the international rating agencies, the international business community, all […]