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Sri Lanka stocks close 0.16-pct higher, rupee weaker
Oct 15, 2013 (LBO) – Sri Lanka stocks closed 0.16 percent with foreign buying surging, mainly into the rights issue of John Keells Holdings and the rupee weakened, brokers and dealers said. John Keells Hotels closed 30 cents lower at 11.00 rupees. The rupee weakened slightly to 131.05/15 against the US dollar in late trading […]
Efficiency Gains
Oct 15, 2013 (LBO) – Sri Lanka’s Aitken Spence group said efficiency at Fiji’s Suva and Lautoka ports were up 35 percent two months after it took over operations.Minister for public enterprises in Fiji, Aiyaz Sayed-Khaiyum was quoted as saying in the statement that the country was looking forward to incorporating Aitken Spence’s management systems […]
Sri Lanka think tank releases policy report
Oct 15, 2013 (LBO) – Sri Lanka’s Institute of Policy Studies has released its annual ‘State of the Economy’ policy report. This year’s report ‘Sri Lanka’s Transition to a Middle Income Economy.’ The report covers areas of international trade, exports, state investments and spending and other policy issues. A full statement on the report released […]
Sri Lanka opposition says will reverse casino tax holidays
Oct 15, 2013 (LBO) – Sri Lanka stands to lose about 120 billion rupees a year from gaming revenues from planned casinos and taxes will be imposed if the opposition comes to power, a legislator said.John Keells Holdings has not asked for a tax holiday for gaming revenues, he said. De Silva said even if […]
Sri Lanka values state fixed assets
Oct 15, 2013 (LBO) – Sri Lanka is valuing fixed state assets as part of efforts to move into accrual accounting and about 75 percent of land and buildings have been valued so far, an official said.State agencies do not have proper documentation such as survey plans, which makes valuation difficult, he said. The Valuations […]
Sri Lanka Treasuries yield ease
Oct 14, 2013 (LBO) – Sri Lanka’s Treasuries yields eased across maturities at an auction Monday, data from the state debt office showed. The 3-month yield fell 02 basis points to 8.56 percent, the 6-months yield fell 01 basis point to 9.60 percent and the 12-month yield fell 01 basis point to 10.49 percent. The […]
‘s Bank of Ceylon offers up to 10-year bonds
Oct 14, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon is offering listed debentures of up to 10 years paying tax free interest up to 13.75 percent, its offer document said. The bank is offering 4.0 billion rupees in bond with an option of a further 4.0 billion rupees. The subscription opens on October […]
Thousands homeless after killer Indian cyclone
GOPALPUR, October 13, 2013 (AFP) – Tens of thousands of people who fled India’s strongest cyclone in 14 years returned to discover their homes and livelihoods destroyed Monday, as a massive relief operation kicked into gear.One million people were forced to seek refuge in shelters and government buildings after the terrifying cyclone struck eastern India […]
New Airbus A350 on track for 2014: EADS chief
SYDNEY, October 14, 2013 (AFP) – The head of European aerospace giant EADS Monday said its aircraft unit Airbus is on track to deliver the first A350 XWB by the end of next year. The wide-bodied aircraft is the latest passenger jet from Airbus as the Toulouse-based manufacturer ramps up production in a bid to […]
US trio win Nobel Economics Prize for asset price work
STOCKHOLM, October 14, 2013 (AFP) – US trio Robert Shiller, Eugene Fama and Lars Peter Hansen won the Nobel Economics Prize on Monday for groundbreaking work on spotting trends in markets, the jury said. It was established in 1968 by the Swedish central bank to celebrate its tricentenary, and first awarded in 1969.The other prizes […]
Killer cyclone wreaks havoc along Indian coast
BHUBANESWAR, October 12, 2013 (AFP) – A cyclone left a trail of death and destruction Sunday after winds packing speeds of up to 200 kilometres an hour ripped through a vast swathe of India’s impoverished east coast.As emergency teams began assessing the damage from the country’s worst cyclone in 14 years, a massive relief effort […]
ICC launches world championship to preserve Cricket Tests
ABU DHABI, October 12, 2013 (AFP) – Cricket’s governing body launched the World Test Championship 2017 on Saturday aimed at preserving the primacy of the longer format of the game.The International Cricket Council (ICC) said the inaugural championship will be hosted by England and will feature the top four teams in the ICC Test rankings, […]