Category: Economy and Markets
Sri Lanka military HQ to make way for hotels
January 26, 2011 (AFP) – The Sri Lankan government said Wednesday it was relocating the defence ministry and main army headquarters in Colombo to make way for a billion-dollar hotel project. An information department statement said the cabinet had decided to shift the military facilities from their prime, seafront location in the capital to the […]
Sri Lanka stocks up on poultry
Jan 26, 2011 (LBO) – Sri Lanka stocks closed 0.23 percent higher with poultry stocks being chased higher by punters, while some plantations stocks also moved up, while the broader index closed higher than an index of liquid stocks, brokers said. The All Share Price Index closed at 7,241.87, up 0.23 percent (6.63 points) while […]
Sri Lanka retailer raises 5-year money through securitization
Jan 24, 2011 (LBO) – Sri Lanka’s NDB Investment Bank said it had raised a billion rupees for Richard Pieris Distributors, retail chain, for five years backed by cash flows due from the settlement of sales made through credit cards. In typical securitization cashflow generating assets are placed in a special trust or company (special […]
Sri Lanka budget on track; land sales to boost revenues in 2011
Jan 24, 2011 (LBO) – Sri Lanka is to raise up to 500 million US dollars from land sales in 2011, a top official has said as November data indicated that the 2010 budget has been contained within targets. Treasury secretary P B Jayasundera was quoted as saying in Bloomberg, a newswire that Sri Lanka […]
Sri Lanka stocks close up 0.1-pct
Jan 24, 2011(LBO) – Sri Lankan stocks closed up 0. 10 percent Monday with active retail and high-net-worth individual trading in the banking and poultry sectors, brokers said. The All Share Price Index closed at 7,261. 37, up 0.10 percent (7.36 points) while the Milanka Price Index of more liquid stocks closed at 7,298. 57, […]
Sri Lanka literary festival lose stars, India denies visa block
Jan 22, 2011 (LBO) – Organizers of Sri Lanka’s Galle Literary Festival has defended its tradition of openness after two star writers pulled out of the event in the wake of protest from rights groups, while India denied that its visa rules hindered writers. “We are looking forward to welcoming writers and festival goers, to […]
Stars pull out of Sri Lanka book fair under pressure
JAIPUR, January 21, 2011 (AFP) – Nobel-winning Turkish author Orhan Pamuk and fellow writer Kiran Desai have pulled out of Sri Lanka’s main literary festival, Pamuk’s publisher said on Friday, following pressure from press freedom groups. Reporters Without Borders and a Sri Lankan rights group had targeted foreign writers in a campaign that called on […]
Sri Lanka Piramal Glass profits up five fold in Dec
Jan 21, 2010 (LBO) – Sri Lanka’s Piramal Glass Ceylon, a unit of India’s Piramal Glass said profits in the December 2010 quarter rose more than five fold to 190 million rupees from 28. 6 million a year earlier. The firm which makes glassware saw revenues grow 28. 2 percent to 1,166 million rupees according […]
Sri Lanka stocks close up 0.8-pct
Jan 21, 2011(LBO) – Sri Lankan stocks closed up 0.85 percent Friday with active retail trading in the manufacturing sector, brokers said. The All Share Price Index closed at 7,254.01, up 0.85 percent (60.91 points) while the Milanka Price Index of more liquid stocks closed at 7,292.95, down 0.11 percent (7.73 points) according to stock […]
Sri Lanka stocks close at all time high, up 1.9-pct
Jan 20, 2011(LBO) – Sri Lankan stocks closed up 1.91 percent Thursday at an all time high, brokers said. The All Share Price Index closed at 7,193.10, up 1.91 percent (134.77 points) while the Milanka Price Index of more liquid stocks closed at 7,300.68, up 0.72 percent (52.48 points) according to stock exchange provisional figures. […]
Sri Lanka Jaffna hospital upgraded by Japan
Jan 20, 2011 (LBO) – Sri Lanka’s Jaffna hospital, the main state health facility in the former war torn northern peninsular is being upgraded with a 2. 9 billion rupee grant in a three year project which began Thursday, the Japan International Co-operation Agency said. A central facility to house surgeries, intensive care, diagnostic imaging, […]
UN seeks $51 million for Sri Lanka flood victims
January 19, 2011 (AFP) – The United Nations on Wednesday sought 51 million dollars to meet the urgent needs of more than one million people affected by recent monsoon floods in Sri Lanka. Bragg will end her visit on Friday after meeting with senior Sri Lankan government officials. The UN issued the appeal as its […]