Category:
Sri Lanka foreign reserves ease in early June
June 14, 2011 (LBO) – Sri Lanka’s foreign reserves eased to 7,055 million dollars by early June 2011 from 7,163 million dollars at the end of April, amid recent sales of dollars by the Central Bank, official data showed. Recent sales of dollars have been non-sterilized transactions which have sucked up excess rupee liquidity extinguishing […]
Sri Lanka stocks close down 1.4-pct
June 14, 2011 (LBO) – Sri Lanka stocks closed 1.4 percent lower with several high flying speculative stocks losing ground a newly listed Expolanka Holdings slipping below its offer price, dealers said. The main All Share Price Index closed at 7083. 05, down 1.44 percent (103.81 points) while the Milanka index of liquid stocks also […]
Sri Lanka Panasian Power to buy more hydro capacity
June 14, 2011 (LBO) – Sri Lanka’s Panasian Power said it had signed a deal to buy a mini hydro firm that had 6. 5 MegaWatts of capacity under development, at valuation to be decided later. The firm had signed a memorandum of understanding with Padiyapelella Hydro Power (Pvt) Ltd to buy the firm at […]
Russell predicts no lasting pane for Prior
LONDON, June 14, 2011 (AFP) – Jack Russell has insisted he had a far worse temper than current England wicket-keeper Matt Prior who has found himself in an unwanted spotlight as a result of a window-breaking incident at Lord’s. England head to the Rose Bowl for the third and final Test against Sri Lanka starting […]
Sri Lanka rural communities bank on safe drinking water
June 14, 2011 (LBO) – In Kathankudy, Baticaloa in Eastern Sri Lanka, Fathima Izana, a mother with a young child, worries about the quality of the water she gets from a tube well. “The water had different colour and it smells sometimes,” she says. Fathima believes the water may be contaminated by a nearby latrine […]
Sri Lanka India ferry to strengthen links
June 14, 2011 (LBO) – A ferry from India to Sri Lanka is completing its first voyage, re-establishing link that has been broken since 1983 and strengthening economic links between the people of the two countries. The ferry Scotia Prince was flagged of Monday from India’s Tuticorin port on a 14 hour journey to Sri […]
Sri Lanka stock close 0.6-pct lower
June 13, 2011 (LBO) – Sri Lanka stocks closed 0. 62 percent lower Monday enlivened by an initial public offering debut and speculative trading in Panasian Power, E-channeling, Blue Diamonds, dealers said. Blue Diamonds Jewellery Worldwide closed at 7.70 rupees up 1.10 rupees or 16.67 percent and 39 million shares changing hands. Meanwhile Blue Diamonds […]
Final Stretch
June 13, 2011 (LBO) – An toll expressway to Sri Lanka’s southern city of Galle is expected be completed by July 2011, but the pricing has not yet been decided, the head of the country’s road agency R W Pemasiri said. He said work on 31.6 kilometer stretch financed by the Japan Bank for International […]
Smart Share
June 13, 2011 (LBO) – Korea’s Samsung has taken the lead in Sri Lanka’s ‘smart phone’ and screen phone market, winning a share of between 35 to 40 percent, country manager Shankar Nayaran said. Sri Lankans are estimated to buy around 120,000 phones a month, or about 1. 4 million phones a year, he said. […]
Sri Lanka tourism: Of MICE and Patel points
June 13, 2011 (LBO) – I was asked to comment on a paper that looks at the potential of India as a source of tourists. Here are the key points. The key to changing behavior is empathy: putting oneself in the shoes of the other and looking at the world from that perspective. This is […]
Sri Lanka Ports Authority loses US$10mn in 2010
June 12, 2011 (LBO) – State-run Sri Lanka Ports Authority has lost 1.1 billion rupees in 2010 partly due foreign exchange losses on Yen loans and a rising wage bill despite revenues rising 19 percent to 28.2 billion rupees, official data showed. The newspaper quoted SLPA additional managing director Norman Weerarathne as saying that 2,398 […]
Services Sales
June 12, 2011 (LBO) – The shipping division of Sri Lanka’s Aitken Spence group has won a deal to improve the efficiency of the port of Nacala in Mozambique, building on its reputation elsewhere in Africa, the company said. The deal was made on the strong “reputation it has built as a result of the […]