Category:
Sri Lanka Bank of Ceylon bond sale gets Rs4.0n in applications
Nov 20, 2012 (LBO) – A debenture sale by state-run Bank of Ceylon has so far received 4. 0 billion rupees worth subscriptions, the lender said in a stock exchange filing. The bank offered 3.0 billion rupees of 5-year debentures and said it would offer a further 3. 0 billion if the first tranche was […]
Sri Lanka Kalkudah Bay gets boutique villas
Nov 20, 2012 (LBO) – A 500 million rupee a 30 villa boutique hotel with French investment will be built in Kalkudah Bay, in Sri Lanka’s eastern coast, the state investment promotion agency said. Sri Lanka’s Board of Investment said 12 luxury bungalows comprising the Karpaha Kalkudah resort will be built among 300 coconut, kohomba […]
Sri Lanka Fortress Resorts profits sharply up
Nov 20, 2012 (LBO) – Fortress Resort and Spa, a hotel in Koggala in Sri Lanka’s southern coast said profit rose sharply to 35 million rupees in the six months to September 2012 recovering from a loss a year earlier. The firm reported earnings of 32 cents for the half year. Sri Lanka’s rupee weakened […]
Retail Trend
Nov 20, 2012 (LBO) – Cargills (Ceylon) Plc Sri Lanka’s a consumer goods group which runs the island’s largest retail network said its taking stock of future expansion following a budget for 2013 and a slowdown in consumer spend. Inflation picked up sharply in 2012 and the rupee fell after authorities took large volumes of […]
Sri Lanka importers annual meet with customs, trade bosses
Nov 20, 2012 (LBO) – The Imports Section of Sri Lanka’s Ceylon Chamber of Commerce will have its annual fellowship on Wednesday 28, with two senior government officials relating to international trade participating. The chief guest will be Neville Gunawardena, director general of Sri Lanka’s Customs office and P D Fernando, director general of Sri […]
Road Finance
Nov 19, 2012 (LBO) – Sri Lanka has got a loan of 98 million US dollars from the Asian Development Bank for a 112. 9 million US dollar (14.6 billion rupees) program to rebuild 200 kilometres of roads in former war zones in the north of the island. The additional financing for the Northern Road […]
Tele Outlook
Nov 19, 2012 (LBO) – Sri Lanka’s telecom operators would grow on higher spending by subscribers and reduced price competition as the market penetration approaches 90 percent, a rating agency has said. Penetration has already reached 87 percent by the second quarter of 2012, and fixed wireless subscribers were declining, Fitch Ratings said in a […]
‘s natural experiment in state enterprise management
Nov 19, 2012 (LBO) – The government of Sri Lanka owns and operates two loss-making airlines. There was a time when the one poorly performing airline was partially privatized. Then in 2007/08, the government started a second airline and nationalized the first. Performance in the periods prior to and after 2008 by the government airlines […]
Sri Lanka could benefit from greater private investment: World Bank MD
Nov 19, 2012 (LBO) – Sri Lanka has shown high debt-backed investment led growth when the rest of the world was slowing but to attract long term “good quality” investors, a better environment is needed, a top World Bank official said. Sri Lanka’s fiscal side was improving with debt levels while falling from high of […]
Sri Lanka rubber firms expect business expansion with Norway
Nov 18, 2012 (LBO) – A delegation of rubber industrialists who visited Norway are expecting an expansion of business including the development of new products, Sri Lanka’s Ceylon Chamber of Commerce said. The visit has opened the doors to the technical Rubber products market in Norway and are confident that they could meet the stringent […]
Sri Lanka tourist arrival up 15.5-pct in October
Nov 17, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 15.5 percent to 80,379 in October 2012 from a year earlier, data from the statistics office showed, with total visitors up 16. 0 percent to 774,151 during the first ten months. Arrivals from Western Europe were hardly changed growing 1.9 percent to 24,303 in October […]
Sri Lanka colonial era hotel, environs, in billion US dollar PPP project
Nov 16, 2012 (LBO) – Sri Lanka’s Grand Orient Hotel, owned by a state bank and adjacent British colonial era buildings will be re-developed with the help of private investment in a project which may involve up to a billion US dollars, the state information office said. State run Bank of Ceylon has developed a […]