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Sri Lanka stocks close down 0.62-pct
Nov 02, (LBO) – Sri Lanka’s stocks closed down Tuesday, dragged down by index heavy stocks like John Keells Holdings (JKH) and Hayleys, brokers said. The Colombo All Share Index dipped 0.62 percent (41.79 points) to 6,710.64 points, while the Milanka Index of more liquid stocks also dipped 0. 65 percent (47.34 points) to 7,228.91, […]
Top Gear
Nov 02, 2010 (LBO) – Sri Lanka imported over 10,000 cars in the four months after import duty was slashed in June this year while state revenue has also soared, a senior finance ministry official said. The tax reduction brought down excise duty on a Maruti car, a popular model, to 90 percent from 183 […]
Dockyard Deal
Nov 02, 2010 (LBO) – Sri Lanka’s Colombo Dockyard has been short-listed in a contract to build more passenger ferries for an Indian government customer, having completed delivery of two vessels, officials said. The new vessels to be ordered are bigger, being capable of carrying 400 passengers and 250 tonnes of cargo. Jitendra Kumar Dadoo, […]
Finance Listing
Nov 02, 2010 (LBO) – Sri Lanka’s Singer Finance Ltd is planning to raise 400 million rupees in an initial public offering by selling 25 percent of its shares to the public, a stock exchange filing said. Singer Finance has 106.6 million shares in issue and it will sell 26.6 million shares at 15 rupees […]
Sri Lanka seeks international hotel chain to manage heritage property
Nov 02, 2010 (LBO) – Sri Lanka’s state-owned Bank of Ceylon is seeking an international hotel chain to manage its subsidiary, Grand Oriental Hotel (GOH), a landmark built during British times overlooking Colombo port. Sri Lanka is experiencing a tourism boom with a sharp upturn in visitors following the end of its 30-year ethnic war […]
Glass Act
Nov 02, 2010 (LBO) – Piramal Glass Ceylon made a net profit of 157 million rupees in the September 2010 quarter as domestic sales rebounded after the end of a war and exports grew sharply, the company said. Chief executive Sanjay Tiwari said all the sectors in the domestic market, namely food and beverage, pharmaceuticals, […]
Sri Lanka hydro power IPO oversubscribed 57 times
Nov 02, 2010 (LBO) – Sri Lanka’s Hydro Power Free Lanka Ltd said its 350 million rupee initial public offering has been oversubscribed 57 times with applications worth 19. 97 billion rupees flooding in. Hydro Power Free Lankan offered 32 percent of the firm of 35 million shares. The issue’s managers, Taprobane Holdings Ltd, said […]
Sri Lanka stocks close up 1.11-pct
Nov 01, (LBO) – Sri Lanka’s stocks closed up Monday, with gains shown yet again in the banking sector, brokers said. The Colombo All Share Index rose 1.11 percent (74.38 points) to 6,752.43 points, while the Milanka Index of more liquid stocks rose 0.48 percent (34.48 points) to 7,276.25, according to provisional Colombo Stock Exchange […]
Sri Lanka slashes import taxes on edible oils, potatoes
Nov 01, 2010 (LBO) – Sri Lanka has slashed import taxes on vegetable oils, potatoes and onions to encourage imports as local prices rose, a senior finance ministry official said. S R Attygalle, director general fiscal policy, said the import tax on coconut oil has been cut to 15 rupees a kilo or 15 percent, […]
‘ half-year performance hits new record
Nov 01, 2010 (LBO) – Dubai-based Emirates airline’s first-half profit shot up 351 percent to 925 million US dollars (3. 4 billion UAE Dirhams) from a year ago as it carried more passengers and cargo, a statement said. The airline attributes the sharply higher profit in the six months ending September 30, 2010 mainly to […]
Sri Lanka thrash Australia
PERTH, October 31, 2010 (AFP) – Australian captain Michael Clarke again failed with the bat as his side lost their first Twenty20 game at home in a one-off international against Sri Lanka at the WACA Ground in Perth on Sunday. After winning the toss and batting first, the home side, featuring only four players expected […]
‘s visa changes
Nov 01, 2010 (LBO) – I keep getting asked about when Sri Lanka will change its visa policies. The out-of-the-blue announcement that visitors from all countries other than the Maldives and Singapore would have to obtain visas prior to arrival and the even more sudden suspension of that decision appears to have carried far. I […]