Category:
Sri Lanka Treasuries yields flat
May 21, 2014 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesday’s auction with the 12-month yield unchanged at 7.02 percent, data from the state debt office showed.The 3-month yield was unchanged at 6.57 percent. The 6-month yield eased 01 basis point to 6.75 percent. The state debt office offered 11 billion rupees of […]
Brand Summit
May 21, 2014 (LBO) – Sri Lanka’s LBR-LBO Brand Summit kicked off Wednesday with international and regional experts and practitioners from top corporates in the island participating. The speakers represent a wide range of industries: financial services, hospitality,FMCG, communication, research, consumer durables, technology and export manufacturing, and are from leading local companies and multinationals. These […]
Corrupt Watchdogs
KATHMANDU, May 21, 2014 (AFP) – South Asia’s corruption-fighting agencies lack the power and independence to properly investigate politicians and officials for graft entrenched in the region, a watchdog said Wednesday.A report released by Berlin-based Transparency International said many agencies need their government’s consent to investigate suspected graft cases, while others face massive political interference […]
Leaving
May 20, 2014 (LBO) – Tony Weeresinghe, founder of Sri Lanka based MillenniumIT, is to leave the London Stock Exchange group, a media report said. Bloomberg newswires said Weeresinghe planned to leave at the end of June. The report quoted LSE Chief Executive Xavier Rolet as saying in a note to staff that he was […]
Sri Lanka textile maker says European orders strong, US buyers cautious
May 21, 2014 (LBO) – Demand from US retailers have softened in recent months but European demand was still strong, Textured Jersey, a Sri Lanka based textile maker said. Revenues grew 7 percent to 3.2 billion rupees, costs grew 6.2 percent to 2.8 billion rupees and the firm grew gross profits 13.9 percent to 402 […]
Cricket: Perera sets up Sri Lanka win over England
LONDON, May 20, 2014 (AFP) – Thisara Perera starred with both bat and ball as Sri Lanka gained revenge for their World Twenty20 defeat by England with a nine-run win at The Oval on Tuesday. Man-of-the-match Perera made a rapid 49 in World Twenty20 champions Sri Lanka’s 183 for seven and then captured the important […]
‘s third coal plant to start test runs
May 21, 2014 (LBO) – Sri Lanka’s third 300 MegaWatt coal plant is to begin testing in two months and the second plant has just been handed over to state-run Ceylon Electricity Board by its Chinese contractor after initial test runs.The third plant is expected to begin its reliability test runs from June adding another […]
Sri Lanka shares close higher
May 20, 2014 (LBO) – Sri Lanka’s shares closed 0.04 percent higher Tuesday with index heavy stocks gaining despite net foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 2.37 points higher at 6,321.61 up 0.04 percent. The S&P SL20 closed 7.31 points higher at 3,480.10, up 0.21 percent. Turnover was 416.61 […]
Gold Credit
May 20, 2014 (LBO) – A credit guarantee scheme covering gold-backed loans or pawning advances will be set up so that banks will have more comfort to lend against the asset, Central Bank Governor Nivard Cabraal said.But banks saw defaults rising on the credit when gold prices fell and values fell below the collateral. Sri […]
‘s Modi quick on Twitter diplomacy, no mention of US
NEW DELHI, May 19, 2014 (AFP) – India’s prime minister-elect Narendra Modi has taken to Twitter to thank fellow leaders in Japan, Russia, Sri Lanka, Nepal and Australia for their support, but one man still waiting for a reply is US Secretary of State John Kerry.While Canadian Prime Minister Stephan Harper has had two mentions […]
” resignation offers
NEW DELHI, May 19, 2014 (AFP) – India’s Sonia and Rahul Gandhi offered to resign Monday after leading the once-dominant Congress party to its worst-ever election defeat last week, only for colleagues to insist the dynasty stay in place.Congress won just 44 seats in the parliamentary election for 543 seats as the Hindu nationalist Bharatiya […]
‘s Rocket Internet
May 20, 2014 (LBO) – Lamudi, an online property and real estate portal started by German based Rocket Internet which focuses on emerging markets has launched a Sri Lanka specific site. “Now is the perfect time to be entering the Sri Lankan market,” Wilhelm Hammes, Managing Director of Lamudi Sri Lanka (www.lamudi.lk) said in a […]