Category:
Yard Fortunes
Mar 13, 2012 (LBO) – Sri Lanka’s Colombo Dockyard anticipates lower ship building and repair orders given the shipping industry downturn but is investing in equipment to improve efficiency and eyeing offshore oil industry work. “Geographically, Colombo Dockyard couldn’t be positioned in a better place than in Sri Lanka. It truly is an imperative in […]
‘s Mackwoods Energy plans hydro plants of 6.4MW
Mar 13, 2012 (LBO) – Mackwoods Energy Limited, a unit of Sri Lanka’s privately held Mackwoods group is is raising 350 million rupees from a public offer to build hydro power plants and expand existing business, officials said. The firm will sell energy through a flat-tariff power purchase agreement to state-run Ceylon Electricity Board. The […]
Sri Lanka overnight rates high amid liquidity shortages
Mar 12, 2012 (LBO) – Sri Lanka overnight cash rates topped 10 percent Monday for the third day running amid liquidity shortages pointing to heavy off-market forex interventions, dealers and analysts said. Sri Lanka’s foreign reserves fell to 5,957.7 US dollars in December 2011 from a peak of over 8.0 billion US dollars in July. […]
Sri Lanka to sell US$45mn in bonds
March 12, 2012 (LBO) – Sri Lanka is offering 45 million US dollars worth three and four year government bonds for sale to foreign investors and permitted domestic investors, ahead of a maturity of the same volume. The state debt office, which is a unit of the Central Bank said it is offering 35 million […]
Sri Lanka stocks close 0.6-pct lower
Mar 12, 2012 (LBO) – Sri Lanka’s stocks closed 0. 58 percent lower Monday with illiquid stocks falling in thin trade, though foreign investors were net buyers and some large caps stocks gained, dealers said. The benchmark Colombo All Share Index closed down 31. 8 points at 5,424.4 points and the Milanka Index of liquid […]
Rail Finance
Mar 12, 2012 (LBO) – China has given a 278. 2 million US dollar loan to finance the first part of a new railway track running from the Southern town of Matara to Kataragama, the finance ministry said. A statement on the finance ministry website said the loan has been approved by the Exim Bank […]
Lady Chat
Mar 12, 2012 (LBO) – Mobitel, a unit of fixed access operator Sri Lanka Telecom said it has launched a package targeting female subscribers with life insurance included in the monthly rental. Mobitel said it launched the ‘Liyasara’ branded package on International Women’s Day with the first subscriber module being given to First Lady Shiranthi […]
Sri Lanka main airport moves 6.34mn pax in 2011: official
Mar 12, 2012 (LBO) – Passenger movements through Sri Lanka’s main international airport rose to 6.4 million above its design capacity of 6 million passengers, and the state-run agency was scrambling to add capacity, an official said. The airport was building a one million passenger domestic terminal to be completed by the end of the […]
Sri Lanka India venture commissions BOT waste treatment plant
Mar 11, 2012 (LBO) – Sri Lanka’s Puritas (Pvt) Ltd, a unit of the listed Hayleys group and Veolia Water India, a part of a France based Veolia Water has commissioned a waste treatment plant for a new tourist resort on the island’s east coast. Already two of the 13 hotels are running and the […]
Sri Lanka to slap price controls on drugs amid warnings
Mar 11, 2012 (LBO) – Sri Lanka will soon bring a law to control prices of drugs, a media report said amid protests from the pharmaceuticals trade which had warned that price controls may create shortages of essential drugs from time to time. Sri Lanka’s post-independence rulers, who printed money to run deficit budgets, depreciated […]
Credit Trend
Mar 10, 2012 (LBO) – Credit to business from Sri Lanka’s commercial banks fell to 44.5 billion rupees in January 2012 from 60.2 billion rupees a month earlier, but credit to the state zoomed to a new monthly peak 73.7 billion rupees, official data showed. Rising state borrowings from the banking system, particularly central bank […]
Sri Lanka airport light industry proposals to close on March 15: official
March 09, 2012 (LBO) – Requests for proposals to start medium and light industries near Sri Lanka’s new international airport in Hambantota will close on March 15, the head of a state-run airport agency said. “Companies can visit there see land available there,” chairman of Sri Lanka’s Airport and Aviation Services Ltd, Prasanna Wickramasuriya told […]