Author: lbostgadmin
Sri Lanka cracks down on opposition ahead of summit
COLOMBO, November 13, 2013 (AFP) – Sri Lanka’s military stopped scores of ethnic Tamils protesters from entering the capital Wednesday ahead of a Commonwealth summit as a British TV crew was barred from a former warzone.A UN panel in 2011 found as many as 40,000 civilians may have been killed in the final months of […]
Sri Lanka to sign up US$2.0bn in property developments
Nov 14, 2013 (LBO) – Sri Lanka is to sign up 2.0 billion US dollars of property development deals for which tax concessions will be given, investment promotions minister Lakshman Abeywardene said. China Communications Constructions Company will reclaim the sea near Colombo port in a 1.3 billion US dollar project. The 8-year project will be […]
Bank Net
Nov 14, 2013 (LBO) – Profits at Sri Lanka’s Commercial Bank of Ceylon group rose to 2.7 billion rupees, up 21 percent from a year earlier, helped by other operating income, despite higher loan losses, interim accounts showed. The group reported earnings of 3.25 rupees for the quarter. For the nine months to September the […]
Sri Lanka stocks close up 0.2-pct
Nov 14, 2013 (LBO) – Sri Lanka stocks closed higher helped by food and hotel firms, brokers said. Commercial Bank closed 10 cents higher at 113.00 rupees and Cargills Ceylon closed 3.00 rupees higher at 150.00 rupees. Distilleries closed flat at 184.00 rupees. HNB closed 10 cents lower at 144.90 rupees and Sampath Bank closed […]
Mauritius PM to boycott Sri Lanka Commonwealth meet
PORT LOUIS, November 12, 2013 (AFP) – The prime minister of Mauritius announced Tuesday he will stay away from this week’s Commonwealth summit in Sri Lanka because of the host’s poor human rights record.Mauritius joins India and Canada in refusing to send a premier to Sri Lanka, which is accused of widespread human rights abuses […]
New Zealand beat Sri Lanka in second one-dayer
HAMBANTOTA, November 12, 2013 (AFP) – Nathan McCullum smashed 22 runs off the final four balls to lift New Zealand to a thrilling four-wicket win over Sri Lanka in the rain-hit second one-day international in Hambantota on Tuesday. Both batsmen fell to catches behind the stumps by wicket-keeper Sangakkara, who also stumped Grant Elliott off […]
License Debate
Nov 13, 2013 (LBO) – A debate over the legality of casinos in Sri Lanka is heating up with ministers of the administration and opposition legislators trading charges and counter chargers.At least four casinos are now operating under a de facto arrangement where an annual levy had been paid to the state revenue office under […]
Sri Lanka poultry group in profits amid revenue drop
Nov 14, 2013 (LBO) – Sri Lanka’s Ceylon Grain Elevators group, which has operations in feed-milling said it returned to profits in the September 2013 quarter helped by lower soya prices despite a drop in sales.Three Acre Farms had also exported parent day old chicks and hatchable eggs to the region, helping boost margins. The […]
Sri Lanka could be tourist mecca for rising Asian middle class: James Packer
Nov 13, 2013 (LBO) – Changing demographics in India and China could make Sri Lanka ‘a leading tourist mecca’ for the rising middle class in Asia, head of Crown Australia, James Packer said.Wealthy Chinese wanted luxury travel, luxury hotels, signature restaurants, quality entertainment, gaming, casinos and high-end retail, he said. “These factors explain why Chinese […]
Debt Sale
Nov 13, 2013 (LBO) – Sri Lanka’s National Development Bank said it was planning a junior debt sale of up to 10 billion rupees.The bank wanted to sell 5.0 billion rupees in unsecured subordinated redeemable debt with an option to sell a further 5.0 billion rupees. There has been a spate of listed debt issues […]
Sri Lanka stocks close down 0.8-pct
Nov 13, 2013 (LBO) – Sri Lanka stocks closed 0.85 percent lower with tobacco and diversified stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 49.98 points lower at 5,812.84, down 0.85 percent. The S&P SL20 closed 39.70 points lower at 3,190.66, down 1.23 percent. Turnover was 579.86 million rupees, up […]
Sri Lanka stocks close flat
Nov 13, 2013 (LBO) – Sri Lanka stocks closed flat despite net foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 3.20 points higher at 5,816.04, up 0.06 percent. The S&P SL20 closed 12.38 points lower at 3,178.28, down 0.39 percent. Turnover was 710.41 million rupees, up from 579.86 million rupees a […]