Category:
‘s new trunk road
COLOMBO, October 24, 2013 (AFP) – Twenty-four elephants lined up for a race Thursday on Sri Lanka’s newest expressway, but thousands of spectators were left disappointed when organisers scrapped the event due to safety concerns. The animals and jockeys were jostling at the start line on the Chinese-built 25.8-kilometre (16 mile) four-lane expressway from the […]
Sri Lanka stocks up 0.6-pct, rupee gains
Oct 24, 2013 (LBO) – Sri Lanka stocks ended a three day losing streak to close 0.60 percent higher and the rupee continued to strengthen against the US dollar amid inflows, dealers said. Colombo Dockyard closed 6.90 rupees lower at 190.20 rupees. Speculative trading continued in Touchwood, closing 20 cents lower at 4.20 rupees, with […]
Bank Rating
Oct 24, 2013 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating Standard Chartered Bank’s Sri Lanka with a stable outlook. Fitch said SCB Sri Lanka’s loan book had contracted 7 percent in the first half of 2013 after expanding 18 percent in 2012 in line with a drop in lending seen in Sri Lankan […]
Connection
Oct 24, 2013 (LBO) – Sri Lanka Telecom said it has been chosen to be the information communications technology provider to Commonwealth Heads of Government Meeting (CHOGM) to be held in November.SLT will serve the needs of government delegations, businessmen and journalists. SLT said it will connect multiple locations through its ‘SLT Intelligent Solutions’ integrated […]
Oil Field
Oct 24, 2013 (LBO) – Cairn Lanka, a unit of Cairn India, which has found natural gas in its off-shore block in Sri Lanka could begin field development by 2015 if ongoing talks over pricing is concluded, an official said. Cairn Lanka is now in talks with Sri Lanka’s government over gas pricing and is […]
Sri Lanka too reliant on foreign borrowings: Fitch
Oct 24, 2013 (LBO) – Sri Lanka is too reliant on government foreign borrowings and foreign currency risks are also rising for borrowers who may not have forex revenues, Fitch Ratings has said.Sri Lanka has been unable to attract high levels of foreign direct investments since the end of a war with FDI averaging 1.2 […]
Sri Lanka Treasuries yields drop
Oct 23, 2013 (LBO) – Sri Lanka’s Treasuries yield dropped sharply at Wednesday’s auction after a 50 basis point rate cut a week earlier, data from the state debt office showed.The state offered 10 billion rupees in bills for roll-over and accepted only 7.8 billion rupees of bids. The 12-month yield dropped 47 basis points […]
Sri Lanka DFCC bond decision later today
Oct 23, 2013 (LBO) – A decision on a dollar denominated bond offered by Sri Lanka’s DFCC Bank is likely to be made later today, market sources said.State-run NSB, which has almost sovereign risk had to pay 8.8 percent on a bond, sharply higher than the rate of a little over 6 percent paid for […]
Sri Lanka stocks down 0.4-pct, rupee up
Oct 23, 2013 (LBO) – Sri Lanka stocks continued to sustain losses closing down 0.41 percent with the rupee gaining against the US dollar on export conversions and foreign inflows into the debt and equities market, dealers said. The benchmark Colombo All Share Price Index fell 24.32 points to 5,900.90, down 0.41 percent, after peaking […]
Medical Facilities
Oct 23, 2013 (LBO) – Sri Lanka’s Ceylinco Healthcare Services said it had commissioned a 500 million rupee facility which can provide precise radiation treatment, targeting cancer patients in the country and the region.TomoTherapy machines deliver treatment guided by computerized tomography (CT) where the size of the cancer can be seen and precisely targeted with […]
Sri Lanka Seychelles budget flights from November
Oct 23, 2013 (LBO) – State-run Mihin Lanka will operate twice weekly flights, code-sharing with sister full service carrier, SriLankan Airlines.The flight will start from next month, SriLankan Airlines said. Nishantha Wickremasinghe who is chairman of both airlines said the flights will connect not only Seychelles but the African continent as well. Chief Executive Kapila […]
Academic Backup
Oct 23, 2013 (LBO) – Sri Lanka’s petroleum exploration office and the university system are looking to expand petroleum related courses as the country’s oil and gas industry is beginning to taking off, officials said. Cairn which, is in talks with the government over monetizing hydrocarbon deposits has brought in Robertson CGG, an oil and […]