Category:
Sri Lanka to renegotiate trade deal with India
Feb 11, 2011 (LBO) – Sri Lanka is to start talks again on a proposed trade agreement with India that had been opposed by protectionist interests in the island, according a government decision announced after the weekly cabinet meeting. But it has been opposed by some Sri Lankan industrial and professional groups. The government is […]
Sri Lanka to sell land reclaimed from sea: port official
Feb 11, 2011 (LBO) – Sri Lanka Ports Authority plans to reclaim and sell to private investors 340 acres of land off the capital Colombo where a new port is being built next to the existing one, an official said. “It will be for residential purposes, and offices and shopping along with eco-parks,” Keppetipola said. […]
Sri Lanka expects a billion dollars of FDI in 2011
Feb 11, 2011 (LBO) – Sri Lanka is expecting more than a billion US dollars in foreign direct investments in 2011 led by a booming leisure sector, after the end of a three decade war made the country more attractive, an official said. “Our expectations (for 2011) are well over a billion (US dollars),” Board […]
Sri Lanka shares close up 1.5-pct
Feb 10, 2011(LBO) – Sri Lankan stocks closed 1. 5 percent higher Thursday helped by gains in the banking stocks, brokers said. The All Share Price Index closed at 7,493.62, up 1.57 percent (116.18 points) while the Milanka Price Index of more liquid stocks closed at 7,230.35, up 0.37 percent (26.60 points) according to stock […]
Port Project
Feb 10, 2011 (LBO) – Infrastructure work on a new container port next to Sri Lanka’s existing Colombo harbour that will expand capacity has neared the halfway mark and is on schedule, officials said. Deputy ports minister Rohitha Abeygunawardene said the construction of the breakwater and dredging of the harbour basin will be completed by […]
Oilfield Vessel
Feb 10, 2011 (LBO) – Greatship India is considering giving orders for bigger and more sophisticated vessels to Sri Lankan ship builder Colombo Dockyard, its managing director Ravi Sheth said after taking delivery of a 26 million US dollar craft. Sheth said Greatship has so far placed orders for 11 vessels with Colombo Dockyard, the […]
Fresh Start
Feb 10, 2010 (LBO) – Sri Lanka’s Union Bank which is going for an initial public offer selling 15 million shares at 25 rupees after its capital was boosted by several private investors including Malaysia’s Genting group, officials said. Officials say unaudited results for the full year indicate a profit of 148 million rupees. Next […]
Changing Control
Feb 10, 2011 (LBO) – Sri Lanka’s Distilleries Group has struck a deal to sell a controlling stake in the island’s pioneering unit trust management company, National Asset Management Ltd or NAMAL, a statement said. Distilleries subsidiary Milford Holdings is expected to earn 455 million rupees for the 70 percent stake in the mutual fund. […]
Margin Gains
Feb 10, 2011 (LBO) – Sri Lanka’s Central Finance, a regulated finance firm said net profits for the December 2011 quarter rose 72 percent to 472 million rupees as margins widened amid falling rates. For the nine months to December Central Finance reported profits of 1.19 billion rupees, up 69 percent giving earnings per share […]
Broader Cover
Feb 10, 2011 (LBO) – Sri Lanka’s unit of UAE-based Etisalat will add 170 new base stations to expand and strengthen its network in former war-torn areas in the North and East of the island by April, an official said. “We are already in the North and will be adding 170 new towers in the […]
Sri Lanka World Cup warm-ups shifted
February 10, 2011 (AFP) – Heavy monsoon rains have forced the International Cricket Council to move World Cup warm-up matches from Sri Lanka’s Pallekele stadium, tournament organisers said Thursday. Sri Lanka has been hit by monsoon downpours since December hampering preparation of the pitches at the newly-built Pallekele venue in the island’s central district. Pallekele […]
Muralitharan signs for Gloucester T20 bid
LONDON, February 9, 2011 (AFP) – Sri Lankan cricket legend Muttiah Muralitharan will play for Gloucestershire’s Twenty20 side after agreeing a two-year deal with the English county, it was announced Wednesday. “Whenever I have watched and observed Murali he has always had and shown an infectious love for the game of cricket. This is something […]