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Sri Lanka sees weak demand for poultry in 2013, feed costs high
June 03, 2014 (LBO) – Sri Lanka has seen weak demand for chicken in 2013 a top poultry firm while costs were elevated, a poultry firm said, as the country emerged from a balance of payments crisis and steep currency depreciation. However the price of eggs had now risen from 11 rupees to 15 rupees […]
Sri Lanka stocks close up 0.5-pct
June 02, 2014 (LBO) – Sri Lanka’s stocks closed up 0.46 percent on Monday with diversified conglomerate Carson Cumberbatch gaining amid strong foreign buying, brokers said. Lion Brewery Ceylon closed 14.00 rupees higher at 445.00 rupees and John Keells Holdings closed 1.00 rupee higher at 235.00 rupees. JKH’s W0022 warrants closed 1.60 rupees higher at […]
Basic Principle
June 02, 2014 (LBO) – A credit to guarantee to encourage banks to lend more against gold may help reduce the build-up of bad loans, but pawning loans are not risk-free as currently categorized in Sri Lanka, Fitch Ratings said.Non-performing loans in Sri Lanka’s banking system had risen to 5.6 percent of total loans by […]
Hub Ambition
Over the course of five years since the end of the war, Sri Lanka has embarked on an ambitious physical infrastructure drive, with the aim of taking advantage of the country’s strategic geographical location. With its close proximity to major international shipping lanes and to the Indian subcontinent, Sri Lanka can be positioned as a […]
Self Immolation
SYDNEY, June 2, 2014 (AFP) – A Sri Lankan Tamil asylum-seeker has died after setting himself on fire while awaiting a visa decision in Australia, Immigration Minister Scott Morrison said Monday.Leorsin Seemanpillai, 29, who was living in Geelong, outside Melbourne, after being granted a temporary visa a year ago, suffered burns to 90 percent of […]
13 dead as rains lash Sri Lanka
COLOMBO, June 2, 2014 (AFP) – Unusually heavy monsoon rains have flooded Sri Lanka’s capital and neighbouring districts where mudslides killed at least 13 people, officials said Monday. The island’s western and southern regions experienced heavy rains with more than 100 millimetres (four inches) dumped within about one hour on Sunday, an official at the […]
Celebrations as India gets new state of Telangana
HYDERABAD, June 2, 2014 (AFP) – Celebrations erupted in southern India to mark the creation of the new state of Telangana on Monday at the culmination of a separatist campaign stretching back nearly six decades. Kalvakuntla Chandrashekar Rao, who at one stage went on hunger strike as part of the push to create what is […]
Sri Lanka foreign remittances to peak in 2017: CB Governor
June 02, 2014 (LBO) – Sri Lanka’s foreign remittances is expected to peak in 2017 with those seeking employment abroad beginning to decrease, Central Bank Governor Nivard Cabraal has said. “We believe that in time to come there will be a reverse migration that will take place in our country,” Cabraal was quoted in transcript […]
Sri Lanka arrests Indian fishermen after Modi talks
COLOMBO, June 1, 2014 (AFP) – Sri Lanka’s navy said Sunday it had seized 29 Indian fishermen, the first arrests since President Mahinda Rajapakse and India’s new premier held talks on resolving the thorny issue of poaching. The navy arrested the Indians along with six trawlers off the island’s northwest coast on Sunday, a navy […]
”’ business hotel on track
May 31, 2014 (LBO) – John Keells Holdings said its ‘Cinnamon Red’ business hotel in Sri Lanka’s capital Colombo will open during the current financial year.JKH which also has resorts in the Maldives, said occupancy there was also higher with a 17 percent gain in arrivals. The 240-room building is now under construction and will […]
Cricket: Ton-up Sangakkara rallies Sri Lanka
LONDON, May 31, 2014 (AFP) – Kumar Sangakkara’s first century at Lord’s saw Sri Lanka bounce back in the fourth one-day international against England on Saturday.Just days after they’d been shot out for 67 at Old Trafford, Sri Lanka made 300 for nine after being sent into bat. Sangakkara’s 112 — his first hundred at […]
Distilleries Company of Sri Lanka sees revenue pick up
May 31, 2014 (LBO) – Distilleries Company of Sri Lanka, the island’s largest alcohol maker which was hit by tax hikes and incomes decimated from currency depreciation, reported a small increase in gross revenues in the March 2014 quarter. DCSL said revenues with taxes rose 1.8 percent to 12.9 billion rupees in the March 2014 […]