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Sri Lanka JKH to raise equity, foreign debt for casino resort
Aug 02, 2013 (LBO) – Sri Lanka’s John Keells Holdings said an 800 million US dollar casino resort project will raise foreign debt and the parent may also make a cash call to invest 240 million US dollars in equity.The project involves an 800 room up market hotel, a convention centre that can hold 2,500 […]
Sri Lanka JKH hotel unit in the red
Aug 02, 2013 (LBO) – Top Sri Lankan hotel operator, John Keells Hotels Plc, slipped into the red in the June 2013 quarter amid a tourism boom losing 102 million rupees, interim accounts showed.The firm reported losses of 7 cents per share for the quarter, compared to earnings of 03 cents on total profits of […]
Sri Lanka Watawala Plantations stake upped by parent
August 02, 2013 (LBO) – Sri Lanka’s Watawala Plantations Plc, which farms tea, rubber and oil palm said its parent Estate Management Services has upped its stake to 74.6 percent. Watawala profits fell sharply in the June quarter as rains hit output and labour costs rose and commodity prices softened. The parent bought 49.3 million […]
Sri Lanka rulers provide more water to protesting villagers
Aug 02, 2013 (LBO) – Elected representatives of Sri Lanka’s Gampaha district met Friday and decided to increase the distribution of water by bowser to villagers who were protesting about tainted water, one whom was shot dead by security forces. Sri Lanka’s economic development minister Basil Rajapaksa had convened a meeting of factions of elected […]
Sri Lanka glove maker hopes to resume production
Aug 02, 2013 (LBO) – Sri Lanka’s Dipped Products, a unit of Hayleys group which exports gloves said it hoped to resume production which stopped Wednesday following protests over claims that it was polluting ground water.The firm did not specify a date to resume operations but said it was working towards an “early settlement”. Dipped […]
Sri Lanka-born top international designer Balmond in JKH resort
Aug 02, 2013 (LBO) – Balmond Studio Limited, a UK-based firm founded by Sri Lanka-born Cecil Balmond has designed John Keells Holding’s 820 million dollar casino resort development, the company said.The second phase involves a 200 unit apartment block and a 400,000 square feet office tower. JKH said its integrated resort will cater to the […]
Cricket: Duminy rescues South Africa against Sri Lanka
COLOMBO, August 2, 2013 (AFP) – JP Duminy hit 51 off 52 balls as spin-wary South Africa recovered from a poor start to post 115-6 in the first Twenty20 international against Sri Lanka in Colombo on Friday. Duminy hit three boundaries and a six before he was dismissed in the penultimate over, caught in the […]
Sri Lanka president invites Pope Francis I to visit
Aug 02, 2013 (LBO) – President Mahinda Rajapaksa had invited Pope Francis I, the head of the Roman Catholic Church to visit Sri Lanka, his media office said. “On behalf of the Government and the people of Sri Lanka, I consider it a great privilege and an honour to extend to Your Holiness an invitation […]
Sri Lankan protestor shot dead at tainted water demo
August 2, 2013 (AFP) – Sri Lankan security forces shot dead one protestor and wounded dozens more when they fired on villagers at a demonstration over contaminated drinking water, police and residents said Friday.Military spokesman Brigadier Ruwan Wanigasooriya said the army had been called in on Thursday night to assist the police when a mob […]
Sri Lanka stocks close up 2-pct
Aug 01, 2013 (LBO) – Sri Lanka’s stocks closed up 1.98 percent Thursday following a week of losses with heavy activity in a plantation stock, some gains in the large cap stocks and banking stocks, brokers said. In the banking sector, Hatton National Bank closed at 110.80 up 0.70 rupees, Pan Asia closed at 18.00 […]
Even Road
Aug 01, 2013 (LBO) – Sri Lanka has cleared a tax anomaly which can make single cab trucks, especially some Indian brands, cheaper, Deputy Treasury Secretary S R Attygalle said.Until now imported single cab trucks were charged two rates of taxes based on whether the engine was protruding forward or not which had made some […]
Liquidity
Aug 01, 2013 (LBO) – Sri Lanka’s central bank has bought Treasury Bills to meet government cash flow needs but is draining the liquidity though open market operations to counter any inflationary impact, Governor Nivard Cabraal said. Governor Cabraal has said earlier that Sri Lanka has enough foreign reserves to pay investors if they wanted […]