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JKL profit falls 20 pct in three months to June
July 28, 2015 (LBO) – Sri Lanka’s John Keells PLC (JKL.N), the tea and rubber broking unit of John Keells Holdings, announced a 20 percent drop in net profits in the first quarter, in provisional results released to the Colombo Stock Exchange. The company said profit after tax fell to 54.2 million rupees from 67.7 […]
Sri Lanka’s state, estate and private workers to get wage hikes: UPFA manifesto
July 28, 2015 (LBO) – Sri Lanka’s United Peoples Freedom Alliance in its manifesto launched earlier today said that it would increase the wages of the state, estate and private sector workers if elected in the August polls.The UPFA says they will increase the cost of living allowance of the state sector workers up to […]
Sri Lanka stocks close up 0.2-pct
July 27, 2015 (LBO) – Sri Lanka’s stocks closed up 0.19 percent on Tuesday, with index heavy stocks making gains, brokers said. The Colombo benchmark All Share Price Index closed 13.84 points higher at 7,261.07 up 0.19 percent. The S&P SL20 closed 19.33 points higher at 4,087.00 up 0.48 percent. Turnover was 1.09 billion rupees, […]
Sri Lanka’s Treasury bill yields up across maturities: Central Bank
July 28, 2015 (LBO) – Sri Lanka’s Treasury bill yields were up across maturities at Tuesday’s auction with 12-month yield up 09 basis points to close at 6.48 percent, data from the state debt office showed. 3-month yields were up 03 basis points to close at 6.28 percent while 6-month Treasury bill yields were up […]
Google Loon project to cover Sri Lanka with 3G internet
July 28, 2015 (LBO) – Sri Lanka’s government and Google on Tuesday signed an agreement to cover the Island with 3G internet under ‘Google Loon project’.Sri Lanka is the first country in the world to have Internet access covering the whole country with the government support, Google Vice President and Project Leader on GoogleX Project […]
Chinese stocks continue slide following historic sell-off
July 28, 2015 (LBO) – China’s main stock index, Shanghai Composite continued its slide and fell by 4.3 percent to 3,567.38 points in early trade Tuesday, foreign media reports said. China has tried to calm investors by reassuring them it would implement prudent monetary policy to stabilise markets with the country’s central bank injecting 8.05 […]
Sri Lanka’s election law violations cross 500 incidents: PAFFREL
July 28, 2015 (LBO) – Sri Lanka’s election watchdog PAFFREL says the organization has received 492 complaints in relation to 511 electoral and general law violations by yesterday afternoon.Among them, 35 are related to acts of violence and 41 incidents of electoral and general law violations. As per the PAFFREL statistical report of election law […]
Kantale sugar gets foreign investment of USD 100MN for restructuring
July 28, 2015 (LBO) – Sri Lanka’s Board of Investment (BOI) signed 100 million US dollars agreement with M G Sugars Lanka, a subsidiary of UK based Mendel Gluck to restructure the island’s state owned Kantale Sugar Factory.“Sri Lanka’s government will own 51 percent of the factory while 49 percent will be held by the […]
Sri Lanka’s Carson says palm oil market seems promising despite crude oil price drop
July 28, 2015 (LBO) – The palm oil industry looks promising and demand should grow in future despite the price drop of crude oil and maturing trees, according to Sri Lanka’s Carson Cumberbatch group with plantations in Malaysia and Indonesia. However in spite of positive expectations, Carson’s palm oil prices experienced much volatility during the […]
Pakistan rises to eighth position in ODI rankings after series win in Sri Lanka
July 27, 2015 (LBO) – Pakistan has moved into the eighth position in the ICC ODI Team Rankings after its 3-2 series victory against Sri Lanka in the five-match series which concluded in Hambantota yesterday. Sri Lanka remains in fifth place though the country has dropped three ranking points creating an opportunity for sixth-placed England, […]
Sri Lanka’s tourism industry driven by informal arrivals, online bookings
July 27, 2015 (LBO) – Sri Lanka’s tourism industry is seeing a new trend where the informal arrivals are overtaking the formal arrivals, the tourism chief said. Rohantha Athukorala, the chairman of the Sri Lanka Tourism Promotions Bureau, giving the example of German arrivals to Sri Lanka, said 5,650 arrivals had been registered but data […]
Sri Lanka stocks close down 0.3-pct
July 27, 2015 (LBO) – Sri Lanka’s stocks closed down 0.30 percent on Monday following a nine week high, brokers said. The Colombo benchmark All Share Price Index closed 21.82 points lower at 7,247.23 down 0.30 percent. The S&P SL20 closed 3.98 points lower at 4,067.67 down 0.10 percent. Turnover was 1.08 billion rupees, down […]