Category:
Sri Lanka stocks close up 0.1-pct
Apr 21, 2014 (LBO) – Sri Lanka’s stocks close higher Monday with index heavy stocks gaining amid net foreign buying on the exchange, brokers said. The Colombo benchmark All Share Price Index closed 6.27 points higher at 6,187.03 up 0.10 percent. The S&P SL20 closed 6.92 points higher at 3,394.94, up 0.20 percent. Turnover was […]
Tax Charge
Apr 21, 2014 (LBO) – A 10 percent transfer tax will be imposed when a vehicle bought on a duty-slashed permit given to Sri Lanka state workers are transferred to a private citizen, a media report said.Sri Lanka The Sunday Times newspaper citing a circular by the Ministry of Finance said a vehicle that is […]
Cash Drawdown
Apr 21, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said customers withdrew a record 2.05 billion rupees from teller machines on Friday April 11, a new daily high in the run up to a traditional New Year holiday. The number transactions processed was 245,000 lower than a previous record of 325,000 which the […]
Private Equity
Apr 21, 2014 (LBO) – Sri Lanka needs private equity to play a bigger role in financing business which will help them grow faster with less leverage and become world beating firms, the Central Bank said. Financial sector professionals have attributed it to lack of skills of those who were taken to manage them, some […]
Take Home
COPENHAGEN, April 20, 2014 (AFP) – A Danish website is turning private homes into take-away restaurants by letting users advertise what they are cooking, when and for what price.“Sometimes I only put one serving up for sale, sometimes up to 20. It depends on what I’m making and how much time I have,” said Ana […]
Sri Lanka port profit, revenues down despite higher volumes
Apr 20, 2014 (LBO) – Operating profits at Sri Lanka’s Ports Authority fell 53.4 percent to 2.4 billion rupees in 2013 with revenues also down 2.3 percent to 37.2 billion rupees, despite an increase in container volumes at Colombo, official data showed. Expenditure had increased 5.8 percent to 34.8 billion rupees. Containers handled in Colombo […]
Ex-Apple chief plans mobile phone for India Origin: India
NEW DELHI, April 19, 2014 (AFP) – Former Apple chief executive John Sculley, whose marketing skills helped bring the personal computer to desktops worldwide, says he plans to launch a mobile phone in India to exploit its still largely untapped smartphone market.Inflexionpoint, an information technology supply company co-founded by Sculley, will start selling the smartphones […]
Precision Persistence
Apr 18, 2014 (LBO) – The founder of a 40 million US dollar Sri Lanka based precision tech company whose entry in to the automotive supply chain epitomizes persistence said he was helped by cultural interaction and trust.He said his knowledge of the Japanese language and culture also helped him break into the automotive supply […]
Preglacial landscape found deep under Greenland ice
WASHINGTON, April 18, 2014 (AFP) – US geologists said Thursday they have uncovered a preglacial tundra landscape preserved for 2.7 million years far below the Greenland ice sheet. They then sampled a rare form of the element beryllium, the beryllium-10 isotope formed by cosmic rays. The research, backed by National Science Foundation funding, found that […]
Sri Lanka President sends condolences to South Korea
Apr 18, 2014 (LBO) – Sri Lanka’s President Mahinda Rajapaksa has sent condolences to South Korea over a ferry disaster which has killed an unknown number of persons.In a message to his counterpart President Park Geun-hye, President conveyed profound condolence on behalf of the people and government of Sri Lanka to Korea and the affected […]
‘s Richard Pieris to sell Rs3.5bn in debt
Apr 17, 2014 (LBO) – Sri Lanka’s Richard Pieris Company Ltd, has been given the nod to sell 3. 5 billion rupees in debt, the Colombo Stock Exchange said. The firm will offer 30 million unsecured redeemable debentures of 100 rupees each with an option to sell a further 5 million in case the first […]
Sri Lanka rubber growers hit by plunging prices
Apr 17, 2014 (LBO) – Sri Lanka’s rubber growers are being hit by falling world prices with production volumes also dropping due to a drought within the country, an industry association said.Deputy Chairman Planters™ Association of Ceylon (PA) and CRTA Vice Chairman S. S. Poholiyadde said in a statement that rubber prices have halved over […]