Author: lbostgadmin
Sri Lanka, Korea in bid to boost trade, investment
Jan 22, 2014 (LBO) – A business forum in Sri Lanka on January 30 with the participation of a top Korean trade and investment promotion official is targeting greater business links between the two countries, organizers said. Weon Cheol Koh, head of KOTRA, the Korean and trade and investment promotion office will address the forum, […]
Rate Expectations
Jan 22, 2014 (LBO) – Sri Lanka’s policy rates will probably be kept at current levels for the next three to six months, a media report said as inflation remained subdued compared to earlier levels.“There may be some other adjustments that we may need to make in the economy as we move on, but from […]
Sri Lanka stocks close up 0.9-pct
Jan 22, 2014 (LBO) – Sri Lanka stocks close up 0.96 percent reversing Tuesday’s losses with tobacco and diversified stocks gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 59.13 points higher at 6,212.67, up 0.96 percent. The S&P SL20 closed 30.10 points higher at 3,458.26, up 0.88 percent. […]
Sri Lanka hoteliers showcase industry to students
Jan 21, 2014 (LBO) – Sri Lanka’s hotels are showcasing the industry to students in several parts of the country starting through a series of seminars and hotel visits. The Hotels Association of Sri Lanka (THASL) in association with Negombo Hoteliers Association and Institute of Tourism and Hospitality Management (ITHM) will conduct the first seminar […]
Sri Lanka stocks close flat
Jan 21, 2014 (LBO) – Sri Lanka stocks close flat Tuesday with banking and plantation stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 3.14 points lower at 6,153.54, down 0.05 percent. The S&P SL20 closed 2.45 points higher at 3,428.16, up 0.07 percent. Turnover was 414.14 million rupees, down from […]
SriLankan Airlines seeks US$275mn in foreign financing
Jan 21, 2014 (LBO) – State-run SriLankan Airlines is seeking at least 275 million US dollars in foreign financing, a top official said as the airline is on track to acquire new Airbus aircraft. Sri Lanka’s state has promised a 500 million US dollar injection to the airline over five years to recapitalize the airline. […]
‘s RAM exits Sri Lanka rating agency
Jan 21, 2014 (LBO) – Malaysia’s RAM Holdings said it has sold its Sri Lanka subsidiary RAM Ratings (Lanka) Ltd to the management.“RAM has successfully nurtured a local team to continue building the company’s considerable market share in the rated bond market…,” K Govindan, group chief executive of RAM Holdings said in a statement. “We […]
Sri Lanka Telecom expands broadband coverage
Jan 20, 2014 (LBO) – Sri Lanka Telecom said it had expanded broadband service coverage by deploying fourth generation wireless technology to areas that are not served by its wired network.From January data volumes on all broadband packages had been increased. SLT provides broadband services through ADSL (assymetrical-digital-subscriber-lines), fibre to home and now through 4G […]
Pakistan push Sri Lanka hard for series-levelling win
SHARJAH, January 19, 2014 (AFP) – Pakistan grabbed the prized wicket of Mahela Jayawardene to press their advantage for a series-levelling win over Sri Lanka in the third Test in Sharjah on Sunday. Earlier, Pakistan were bowled out for 341 in their first innings, 87 short of Sri Lanka’s first innings total of 428 for […]
Broad Expansion
Jan 20, 2014 (LBO) – Sri Lanka Telecom said it had expanded broadband service coverage by deploying fourth generation wireless technology to areas that are not served by its wired network.From January data volumes on all broadband packages had been increased. SLT provides broadband services through ADSL (assymetrical-digital-subscriber-lines), fibre to home and now through 4G […]
Sri Lanka US$7.8mn resort opens
Jan 20, 2014 (LBO) – A 96-room hotel built with an investment of 7.8 million US dollars has opened in Sigiriya in central Sri Lanka. The Aliya (elephant in Sinhalese language) Resort & Spa, is constructed on a 22-acre area to blend with villages in the area, Sri Lanka’s economic development ministry said after minister […]
Giant Vessel
SEOUL, January 20, 2014 (AFP) – South Korean shipbuilder Hyundai Heavy Industries said Monday it had started construction on a Chinese order for the world’s largest container ships.China Shipping Container Lines (CSCL) awarded the contract for the five vessels — each with a capacity of 18,400 TEU (20-foot equivalent unit) container boxes — to Hyundai […]