Category:
Sri Lanka Treasuries yields plunge
Oct 30, 2013 (LBO) – Sri Lanka’s Treasuries yields dropped sharply at Wednesday’s auction with the 12-month yield falling 19 basis points to 9.83 percent, data from the state debt office showed.The debt office which offered 10 billion rupees in bills for roll-over said 20 billion rupees worth bid were accepted from the market. The […]
Militarization
October 30, 2013 (AFP) – An anti-corruption watchdog Wednesday criticised the appointment of Sri Lanka’s navy chief as head of the country’s shipping company, calling it a further sign of the military’s growing influence. Vice Admiral Jayanath Colombage took over as chairman of the state-run Ceylon Shipping Corporation (CSC) on Tuesday which he will run […]
Smartphone Sales
Oct 30, 2013 (LBO) – Smartphone sales are taking off showing fast growth, Singer Sri Lanka, a top consumer durables retailer which launched a slim phone targeting domestic and tourist markets said. Smartphones have an operating system which can run many applications, similar to a small computer, while remaining connected to the internet compared to […]
Sri Lanka hotels profits may be squeezed by rising labour costs
Oct 30, 2013 (LBO) – Shortfalls of labour amid fast growth in Sri Lanka’s tourism sector may squeeze profits and undermine industry attempts to boost product quality, an official said.“We will seriously need to see how we can halt the current shortage of staff,” Jayantissa Kehelpannala, president of the Tourist Hotels Association of Sri Lanka […]
Sri Lanka stocks closed down 0.3-pct, rupee weaker
Oct 29, 2013 (LBO) – Sri Lanka stocks closed 0.38 percent lower amidst speculative trades and the rupee weakened amid excess rupee liquidity in the banking system. The Colombo benchmark All Share Price Index closed 22.44 points lower at 5,906.53, down 0.38 percent, after reaching an intra-day high of 5,931.95. The S&P SL20 closed 1.14 […]
”s Edge seeking investor for hotel
Oct 29, 2013 (LBO) – Water’s Edge, a hospitality facility coming under Sri Lanka’s Urban Development Authority is seeking investors to build a 200 room hotel, an official said.He said there was already interest from several investors and one will be chosen to build the hotel. Water’s Edge, which was built as a golf club […]
Top Destination
Oct 28, 2013 (LBO) – Sri Lanka has been named the ‘Outsourcing Destination of the Year’ by UK’s National Outsourcing Association (NOA), Sri Lanka’s business chamber for information technology businesses said.Sri Lanka has been ranked top 25 among global outsourcing destinations by AT Kearney, a consultancy. Gartner another consultancy had put the country among the […]
‘s Keells Hotels profits up 113-pct
Oct 29, 2013 (LBO) – Profits at Sri Lanka’s Keells Hotels Plc rose 113 percent to 250 million rupees in the September 2013 quarter form a year earlier, helped by strong results in the Maldives, interim accounts showed. In the September quarter total revenues rose 30 percent to 2.5 billion rupees, cost of sales rose […]
Sri Lanka makes more reforms but slips in Doing Business ranking
Oct 29, 2013 (LBO) – Sri Lanka made the most changes in South Asia making it easier to do business, but the country slipped to 85 from 81 in a global ranking compiled by the World Bank group as several other nations raced ahead.The World Bank group’s ‘Doing Business 2014’ report said Sri Lanka was […]
Sri Lanka stocks down 0.33-pct, rupee weaker
Oct 28, 2013 (LBO) – Sri Lanka stocks closed down 0.33 percent amidst heavy foreign selling and the rupee weakened against the US dollar on importer demand, brokers and dealers said. The benchmark Colombo All Share Price Index closed 19.78 points lower at 5,928.97, down 0.33 percent, after peaking at an intraday high of 5,953.39. […]
Slow Gear
Oct 28, 2013 (LBO) – Profits and Diesel and Motor Engineering Plc, agents for Mercedes and Tata in Sri Lanka slipped 58 percent to 47,590 million rupees in the September 2013 quarter form a year earlier.The firm reported earnings of 5.36 rupees per share for the quarter. For the six months to September profits were […]
Airport Express
Oct 28, 2013 (LBO) – Sri Lanka has opened a 25.8 kilometre toll-road to the main international airport which is expected to sharply cut travel time and reduce congestion on existing roads.Travel time to the airport in Katunayake, from Peliyagoda, just outside the capital Colombo is expected to be 20 minutes, down from about an […]