Category:
Sri Lanka gets natural disaster credit from World Bank
Apr 24, 2014 (LBO) – Sri Lanka has been given a 102 million US dollar credit line that can be drawn immediately after a natural disaster, as well as another 110 million dollars for measures to cut disaster risk, the World Bank said. The lender said Sri Lanka is the first county in South Asia […]
Sri Lanka gives tax breaks to US$220mn sugar refinery
Apr 23, 2014 (LBO) – Sri Lanka has given a 10 year tax holiday to a 220 million US dollar sugar refinery by the Hambantota port including tax free salaries for 50 expatriate staff. Lanka Sugar Refinery Company (Pvt) Ltd, will import raw sugar for refining to the local and foreign markets, a notice published […]
Sri Lanka vehicle registrations up 4-pct in March, commercial vehicles weak
Apr 22, 2014 (LBO) – Sri Lanka’s vehicle registrations rose 4 percent to 26,921 in March 2014 from a year earlier picking up from lull in February with commercial vehicles showing weakness, a research report showed. More people were buying cars on financing arrangements with the share going up to 57.6 percent from 42.2 percent […]
Sri Lanka stocks close higher
Apr 22, 2014 (LBO) – Sri Lanka’s stocks close 0.08 percent higher with index heavy stocks gaining amid net foreign buying, brokers said. Ceylon Tobacco Company closed 20.40 rupees higher at 1,118.20 rupees, contributing most to the index gain. Aitken Spence Hotel Holdings closed 2.40 rupees higher at 75.90 rupees and Asian Hotels and Properties […]
Vehicle Trend
Apr 22, 2014 (LBO) – Sri Lanka’s vehicle registrations rose 4 percent to 26,921 in March 2014 from a year earlier picking up from lull in February with commercial vehicles showing weakness, a research report showed.More people were buying cars on financing arrangements with the share going up to 57.6 percent from 42.2 percent a […]
Network Expansion
Apr 22, 2014 (LBO) – Melsta Regal Finance Ltd, a young finance company promoted by Sri Lanka’s Distilleries group said it has expanded into Central, North Central and Southern regions of the country.The firm offers working capital finance with Letter of Credit opening facilities, warehousing, logistics and debt factoring as well as equipment and vehicle […]
Capital Rating
Apr 22, 2014 (LBO) – Sri Lanka’s Dunamis Capital Plc, had been rated ‘BBB+’ with a ‘stable’ outlook and a proposed debt billion rupee debt sale ‘BBB’ by Colombo based Ram Ratings Lanka Plc. Dunamis has interests in primary dealing, stock brokering, margin trading, debt structuring, asset management and property development. The full statement is […]
Sri Lanka detains British tourist over Buddha tattoo
COLOMBO, April 22, 2014 (AFP) – Sri Lanka has detained a female British tourist for having a Buddha tattoo on her right arm and ordered her deportation, police said Tuesday.The unidentified woman was arrested at the country’s main international airport on Monday and appeared before a magistrate who ordered her deportation, police said in a […]
”’ statement
NEW DELHI, April 22, 2014 (AFP) – Indian election frontrunner Narendra Modi on Tuesday condemned virulent anti-Muslim remarks by a one-time associate as he sought to keep attention on his core message of development and corruption-free administration.The BJP, last in power from 1990 to 2004, is widely forecast to emerge as the biggest party in […]
Sri Lanka inspiring entrepreneur: innovation comes from within
Apr 22, 2014 (LBO) – An inspiring Sri Lankan entrepreneur who broke into a global supply chain in precision tech components for the automobile industry says innovation comes from within.“I am usually not a person that complains,” Rohan Pallewatte, head of Lanka Harness Company (Pvt) Ltd, a precision manufacturing firm that makes impact sensors for […]
Sri Lanka Italy businesses in forum with Harsha
Apr 22, 2014 (LBO) – Sri Lanka-Italy Business Council, of the Ceylon Chamber of Commerce said it is hosting a forum on ‘post war dividends’ where Harsha de Silva, an economist and legislator will speak. De Silva, who is the key economic spokesman at Sri Lanka’s United National Party, will speak on “The Road to […]
Sri Lanka rates unchanged; lower state borrowings to boost credit: Central Bank
Apr 22, 2014 (LBO) – Sri Lanka’s central bank held policy rates unchanged in April saying reduced central government and state enterprise borrowings has created conditions for private credit to pick up. Rice taxes have been relaxed ahead of the drought though prices are now up. Meanwhile traders have been slapped with price controls. Sri […]