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Sri Lanka stocks close up 0.8-pct
Nov 07, 2014 (LBO) – Sri Lanka’s stocks closed 0.78 percent higher with tobacco and diversified stocks gaining amid strong foreign purchases, brokers said. Ceylon Tobacco Company closed 19.80 rupees higher at 1,150.00 rupees and John Keells Holdings closed 3.00 rupees higher at 258.00 rupees, contributing most to the index gain. JKH’s W0022 warrants closed […]
Sri Lanka tourist arrivals up 13.6 -pct in October 2014
Nov 07, 2014 (LBO) – Sri Lanka’s tourist arrivals rose 13.6 percent to 121,576 in October 2014 from a year earlier, driven by India, UK and China data from the state tourism promotion office showed. Visitors from Western Europe were up 10.1 percent 32,061 in the month with UK up 2.7 percent and Germany up […]
Sri Lanka external trade expands in September: Central Bank
Nov 07, 2014 (LBO) – Sri Lanka’s exports rose 0.5 percent, to 903 million US dollars in September 2014 from a year earlier with largest contribution from textiles and garments followed by coconut and printing industry products, official data showed. In September worker remittances (exports of labour) rose 3.1 percent to 575 million US dollars, […]
Sri Lanka signs up first tranche of US$100mn to upgrade roads
Nov 07, 2014 (LBO) – The Asian Development Bank (ADB) signed first tranche loan agreement with the Sri Lanka government to lend 800 million dollars to upgrade roads. The first tranche in an amount of 100 million US dollars with the 18 million US dollars of government’s investment will finance the first slice of the […]
Sri Lanka stocks close up 0.5-pct
Nov 05, 2014 (LBO) – Sri Lanka’s stocks closed 0.51 percent higher with the price gains of Commercial Bank and Lanka IOC, amid net foreign purchases, brokers said. Commercial Bank of Ceylon closed 3.20 rupees higher at 172.80 rupees and Lanka IOC closed 4.60 rupees higher at 59.20 rupees, contributing most to the index gain. […]
Sri Lanka Browns Hotels & Resorts ties up with Starwood Hotels & Resorts
Nov 05, 2014 (LBO)-Sri Lanka’s Browns Hotel and Resorts private limited, a fully owned subsidiary of Browns Investments Plc recently signed a definitive agreements with Starwood Hotels & Resorts which will give Starwood the management rights to five-star Sheraton Kosgoda Turtle Beach Resort, owned by Browns Hotels and Resorts. The 172 room hotel is set […]
Sri Lanka stocks close down 0.44-pct
Nov 04, 2014 (LBO) – Sri Lanka’s stocks closed lower with diversified, beverages and telco stocks losing ground amid strong foreign selling, brokers said. JKH’s W0022 warrants closed 30 cents lower at 73.20 rupees and its W0023 warrants closed flat at 78.50 rupees. Distilleries closed 3.50 rupees lower at 210.00 rupees and Nestle Lanka closed […]
Profit Gain
Oct 04, 2014 (LBO) –Sri Lanka Seylan Bank, a private bank recorded a Profit before Tax of 3,490 million for the nine months ended 30th September 2014, the bank said in a media release. Profits after Tax reached a record of 2,253 million rupees a 47 percent increase compared to the 1,536 million rupees reported […]
ICC to crown the greatest world cup moment of all time
Nov 04, 2014 (LBO) – The International Cricket Council is to identify the greatest ICC cricket world cup moments of all time through a voting to open on Thursday, the council said in a media release. Over the course of the 100 days leading up to ICC cricket world cup 2015, the ICC will release […]
Sri Lanka launches shopping festival to attract customer traffic into retail areas
Nov 04, 2014 (LBO) – Sri Lanka launched a Sri Lanka shopping festival or SLASH recently with an aim to increase customer traffic into retail areas multi-fold and attract hundreds of thousands of additional shoppers across multiple locations to create additional businesses for retailers organizers said in a media release. Organizers also plan to immense […]
Sri Lanka stocks close up 0.36-pct
Nov 03, 2014 (LBO) – Sri Lanka’s stocks closed 0.36 percent higher with Commercial Bank gaining amid net foreign buying, brokers said. Foreign investors bought 604.96 million rupees worth shares while selling 127.54 million rupees worth shares. Commercial Bank of Ceylon closed 3.80 rupees higher at 169.60 rupees, contributing most to the index gain. The […]
What can be done about landslide disasters
We’ve had too many disasters in recent years. The tsunami, the LTTE, floods, Nandikadal, floods. And now Koslanda. After the tsunami we asked what could be done to avoid a repeat. We found answers. Ten years later we can be confident that it will not be that bad, the next time (http://www.lankabusinessonline.com/news/what-have-we-learned-since-the-2004-indian-ocean-tsunami/756626867). But landslides are […]