Category: Economy and Markets
Sri Lanka hoteliers cannot work in isolation, says Keells Deputy Chairman
Sep 10, 2015 (LBO) – Sri Lanka hoteliers alone cannot make the industry to grow but with collaboration we can, Ajit Gunewardene, deputy chairman of John Keells Holdings said. “Tourism is a massive industry and we have barely begun. Before we destroy what is great, we believe this is the time to create something unique […]
Govt increases taxes on sugar and potatoes
Sep 09, 2015 (LBO) – Sri Lanka increased the import tax on potatoes by 10 rupees per kilogram and commodity levy of imported sugar by 12 rupees today. online pharmacy with best prices today in the USA online pharmacy https://pharm.iiui.edu.pk/wp-content/themes/twentytwentytwo/templates/html/augmentin.html no prescription However controlled price remain unchanged at 95 rupees for packed sugar. Potato tax […]
Sri Lanka stocks close up 0.8-pct; More retail activity
Sep 09, 2015 (LBO) – Sri Lankan stocks closed up 0.83 percent on Wednesday with index heavy and banking sector stocks showing gains, brokers said. The Colombo benchmark All Share Price Index closed up 58.79 points at 7,183.76 higher 0.83 percent. S&P SL20 closed 22.94 points lower at 3,937.55 up 0.59 percent. Turnover was 647 […]
Interview: SriLankan to fly more to India, Japan, China; eyes profitability next year
Sep 09, 2015 (LBO) – The national carrier SriLankan Airlines is planning to cut some unprofitable routes and expand to India, Japan and China, Ajith Dias, chairman of the airline told Lanka Business Online. “We are now rationalizing our fleet and rationalizing where we are going. We are increasing our flights to China, because our […]
Fitch to host Sri Lanka Investment Fund & Asset Management Forum
Sep 09, 2015 (LBO) – Fitch Ratings Lanka is to host its inaugural Investment Fund and Asset Management Forum next week, the rating agency said. Leading market participants, including issuers, investors, and bankers, will gather to listen to Fitch’s senior analysts, external guest speakers and panelists discuss developments in the asset management industry globally – […]
Sri Lanka stocks open up 0.2-pct as investor sentiment changes
Sep 09, 2015 (LBO) – Sri Lanka’s stocks opened 0.19 percent, Wednesday with investor sentiment changing and John Keells Holdings making gains in morning trade, brokers said. The Colombo benchmark All Share Price Index opened up 13.67 points at 7,138.09 up 0.19 percent. John Keells Holdings is trading at 175.90 rupees, up 0.70 rupees. “JKH […]
Sri Lanka’s John Keells to double hotel rooms over next 5 years
Sep 09, 2015 (LBO) – Sri Lanka’s John Keells Holdings plans to double its current 2,200 room capacity in the next 5 years, Ajit Gunewardene, the deputy chairman said.This includes the 800 rooms of Cinnamon Life iconic that the group is building. “By the middle of next year we would be constructing approximately 400 to […]
Sri Lanka sells 05, 08 and 15 year treasury bonds at 9.65–10.96-pct
Sep 08, 2015 (LBO) – The issue of treasury bonds amounting to 10 billion rupees have been oversubscribed with 60.3 billion rupees of bids received from investors.The Central Bank has accepted 3.7 billion rupees of 04 year and 08 month bonds maturing on 01 May 2020 at a weighted average yield rate of 9.65 percent. […]
Stocks close down 0.3-pct; seven week low
Sep 08, 2015 (LBO) – Sri Lankan stocks closed down 0.35 percent on Tuesday on a seven week low with the losses in John Keells Holdings, brokers said. The Colombo benchmark All Share Price Index closed down 25.24 points at 7,122.46 lower 0.35 percent. S&P SL20 closed 16.96 points lower at 3,914.04 down 0.43 percent. […]
Sri Lanka’s port city project still on hold, discussion positive says CHEC
Sep 08, 2015 (LBO) – The builders of Sri Lanka’s Chinese-funded port city project say discussions are still ongoing and they await a positive reply from the government after the suspension of work. “We are actually at the discussion level,” Liang Thow Ming, Chief Sales and Marketing Officer, of CHEC Port City Colombo (Pvt) Ltd […]
ICRA Lanka assigns BBB rating for EAP Broadcasting
Sep 08, 2015 (LBO) – ICRA Lanka Limited has assigned an Issuer rating of BBB for EAP Broadcasting Company with a stable outlook on the rating. The full text of the rating is reproduced below. ICRA Lanka assigns [SL]BBB rating with Stable outlook to EAP Broadcasting Company Limited ICRA Lanka Limited, a wholly owned subsidiary of […]
‘s ruble collapse tied to energy prices, volatility to continue
Sept 08, 2015 (LBO) – Russia’s ruble has lost 45 percent of its value this year tied to collapse in oil prices, and volatility is likely to continue, analysts say. With Brent crude oil prices plunging more than 50 percent, the world’s biggest energy exporter has struggled to maintain its currency. 12 months ago, the […]