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Sri Lanka stocks fall 0.3-pct
Feb 21, 2014 (LBO) – Sri Lanka stocks fall 0.32 percent for the seventh consecutive day with losses in the tobacco and diversified stocks, brokers said. Nestle Lanka ended 79.10 rupees lower at 2,020.90 rupees and Ceylon Tobacco Company closed 12.20 rupees lower at 1,157.60 rupees, contributing most to the index drop. Bukit Darah ended […]
Mass Transit
Feb 21, 2014 (LBO) – Sri Lanka is likely to opt for a 1.3 billion US dollar monorail mass transit system with Japanese finance to cut traffic congestion and boost mobility in the capital Colombo, an official said. A link is also planned from Kollupitiya to National Hospital. A second stage will involve a line […]
Sri Lanka to launch two year tourism promotion campaign
Feb 21, 2014 (LBO) – Sri Lanka will launch a “comprehensive mega tourism promotional campaign” to boost arrivals including from newly developing markets, starting this year, information minister Keheliya Rambukwelle said. However there has been strong growth in the lower end of the sector with internet based bookings giving more affordable accommodation with pricing closer […]
Waiting Game
Feb 21, 2014 (LBO) – Sri Lanka’s Ceylon Tobacco Company, a unit of British American Tobacco said it will sell packs without graphic labels until a court decision in May, despite parliament passing health ministry regulations this week.CTC said the court of appeal is expected to issue its judgment on May 12, and the Supreme […]
Queries
Feb 21, 2014 (LBO) – Sri Lanka’s main opposition has charged that a multi-billion dollar sea reclamation deal has been given to a Chinese company blacklisted by the World Bank for corruption, threatening to cancel the deal if they come to power.Opposition legislator Harsha de Silva alleged that China Communications Construction Company (CCCC) which had […]
Sri Lanka stocks close down 0.5-pct
Feb 20, 2014 (LBO) – Sri Lanka stocks close down 0.50 percent retreating for the sixth straight day with losses in the tobacco and banking stocks, brokers said. Ceylon Tobacco Company closed 29.00 rupees lower at 1,169.80 rupees and Commercial Bank closed 2.00 rupees lower at 116.00 rupees, contributing most to the index drop. NDB […]
Bridge Plan
Feb 20, 2014 (LBO) – Japan will fund a 35 billion yen (343mn US dollar) bridge connecting Sri Lanka’s capital Colombo with an expressway network, information minister Keheliya Rambukwelle said.Sri Lanka is also planning an elevated road network to cater to rising traffic. Japan is also expected to fund a the first phase of a […]
Cricket: Sehwag and Murali to star for MCC in Abu Dhabi
LONDON, February 20, 2014 (AFP) – India’s Virender Sehwag is to captain Marylebone Cricket Club (MCC) in their four-day match against English champion county Durham in Abu Dhabi next month, officials announced Thursday.This year marks the 200th anniversary of MCC’s move to its present Lord’s ground, with Sehwag among a host of famous names including […]
Indian PM opposes release of Rajiv Gandhi killers
NEW DELHI, February 20, 2014 (AFP) – Indian Prime Minister Manmohan Singh denounced plans to free former premier Rajiv Gandhi’s killers as an attack on the nation’s soul Thursday as his government launched a legal battle to stop their release. Seven Tamil extremists are due to walk free from prison by this weekend after the […]
Sri Lanka in constant battle to keep up coin supply
Feb 20, 2014 (LBO) – Sri Lanka’s central bank is battling to keep the country supplied with coins as metal prices go up and coins disappear from circulation into piggy banks and places of worship.The Central Bank estimates that 20 to 30 tonnes of Sri Lankan coins are accumulated at Temples and Churches in India […]
Sri Lanka prosperity up by revised index: Central Bank
Feb 20, 2014 (LBO) – Sri Lanka’s prosperity has risen by 6.8 percent over 2012 according to an index compiled by the Central Bank, which has been revised with additional parameters being added. “The Prosperity Index enables national policy makers, provincial authorities, and business and community stakeholders to measure the prosperity of provinces in a […]
Sri Lanka Treasuries yields ease
Feb 19, 2014 (LBO) – Sri Lanka’s Treasuries yields edged lower across maturities at Wednesday’s auction with the 12 month yield down 02 basis points to 6.75 percent, the state debt office said.The 6-month yield was also down 02 basis points to 6.90 percent and the 12-month yield was down 02 basis points to 7.08 […]