Category:
Bus Purchase
Jan 17, 2013 (LBO) – Lanka Ashok Leyland, unit of Ashok Leyland has won a 700 million rupee contract to supply 200 buses to Sri Lanka’s state transport utility. Sri Lanka’s transport ministry will buy 200 buses from Lanka Ashok Leyland Plc, information minister Keheliya Rambukwelle said. The cabinet of ministers had approved a proposal […]
‘s The Kingsbury seeks shareholder nod to borrow more
Jan 17, 2013 (LBO) – Sri Lanka’s Hotel Services (Ceylon) Plc, has sought shareholder approval to increase borrowings after the cost of renovating its ‘The Kingsbury’ branded property escalated.Following design changes which required an additional 600 million rupees the cost escalated to 2.4 billion rupees. The renovation had also involved replacing its older mechanical and […]
Concerns
Jan 17, 2013 (LBO) – The International Commissions of Jurists, an international rights body promoting rule of law has raised concerns about Sri Lanka’s newly appointed chief justice and asked for his controversially sacked predecessor to be re-instated. Chief Justice Shirani Bandaranayake was impeached by parliametn through controversial process which courts declared illegal and unconstitutional. […]
Sri Lanka capital power grid to be upgraded with Japan loan
Jan 17, 2013 (LBO) – Japan will provide 15.9 billion yen (23.91 billion rupees) loan to upgrade the power grid around Sri Lanka’s capital Colombo, information minister Keheliya Rambukwelle said.The Japan International Corporation will give 40 year loan at 0.3 percent with a 10 year grace period. The funds will be used to strengthen the […]
‘s NDB to finance micro hydros with ADB credit
Jan 17, 2013 (LBO) – Sri Lanka’s National Development Bank said it will use a 1.29 million US dollar credit line from the Asian Development Bank to re-start 19 micro hydro projects in tea and rubber plantations.NDB said it had entered into a partnership with Sri Lanka’s Sustainable Energy Authority and the government to participate […]
‘s central bank holds rates, warns against SOE credit
Jan 17, 2013 (LBO) – Sri Lanka’s policy rate at which liquidity is injected to the market will remain at 9.5 percent following a 25 basis point rate cut last month, the Central Bank said, but warned against rising credit to state enterprises. The Central Bank said the exchange rate has appreciated 5.3 percent against […]
Sri Lanka Treasuries yields fall
Jan 16, 2013 (LBO) – Sri Lanka’s Treasuries yield fell across maturities at Wednesday’s auction with the 6-month yield falling as much as 23 basis points to 10.58 percent, data from the state debt office showed. The 3-months yield fell 13 basis points to 9.75 percent and the 12-month yield fell 09 basis points to […]
Sri Lanka stocks close up 01-pct
Jan 16, 2013 (LBO) – Sri Lanka’s stocks closed one percent Monday helped by gains in some large cap stocks amid falling gilt yields ahead of a Central Bank rate decision, brokers said. The Colombo All Share Price Index rose 62.3 points to 5,812.47. The S&P SL 20 Index rose 28.86 points to 3,163.18 points […]
New Chief
Jan 16, 2013 (LBO) – Razik Zarook a lawyer and a former chairman the Co-operative Wholesale Establishment, has assumed duties as chairman of state-run Bank of Ceylon, Sri Lanka’s largest commercial lender by assets.Zarook had enrolled in the Bar in 1969 and had run the CWE under then trade and shipping minister Lalith Athulathmudali, Bank […]
‘s Edge Hotels and Resorts to start small luxury chain
Jan 16, 2013 (LBO) – Edge Hotels and Resorts, a new small luxury hotel chain has signed agreements to start two hotels, with four more planned, Sri Lanka’s state investment promotion agency said.Sri Lanka’s Board of Investment, which gives tax breaks to investors did not disclose any investment values for the hotels. The first property […]
Japan to grant dredger to keep Sri Lanka fishery harbhours open
Jan 16, 2013 (LBO) – Japan will grant a dredger to Sri Lanka’s state-run fishery harbhour agency to keep navigational channels clear for fishermen, the Japanese aid agency said.The Japan International Co-operation Agency (JICA) said a study team sent at Sri Lanka’s request and officials of Ceylon Fishery Harbhour Corporation had found that existing dredging […]
Missive
Jan 16, 2013 (LBO) – Sri Lanka’s impeached Chief Justice Shirani Bandaranayake said she was leaving her residence and chambers fearing violence, after being unjustly persecuted, vilified and condemned.“Since it now appears that there might be violence if I remain in my official residence or my chambers I am compelled to move out of my […]