Category:
Appointment
Aug 15, 2013 (LBO) – Sri Lanka’s EAP Holdings said award Prasanna Vithanage, an award winning film and theatre director has been appointed as an independent director to board of its media and entertainment division.EAP Media and Entertainment division runs terrestrial television stations Swarnavahini and ETV; Shree FM, E FM and Run FM radio channels […]
Growing Sector
Aug 15, 2013 (LBO) – Sri Lanka™s human resources management sector is growing faster than in countries like India and China where there is a relative slowdown, an international specialist said. “The aspiration and the sentiment in the HR sector here is quite positive and its growth path is escalating,” Pat Caputo from Aon Hewitt’s […]
Chance
Aug 15, 2013 (LBO) – Sri Lanka’s state-run National Lotteries Board (NLB) expects revenues to grow 16.2 percent to 14.7 billion rupees in 2013, a top official said.This year it has paid 3,761 million rupees as prize money and created paid prizes of over 10 million rupees to 14 winners. Chairman Chaminda Athuluwage said revenues […]
India plunges into Mercantilist moves as currency slips
NEW DELHI, August 14, 2013 (AFP) – India slapped new controls Wednesday on foreign exchange outflows as it struggled to narrow a record current account deficit and arrest the fall of the rupee.The central bank “has to cater to both currency and inflation risks”, which means monetary easing to kickstart growth “is off the table […]
Petro Projects
Aug 15, 2013 (LBO) – Sri Lanka’s Laugfs gas group has been give the nod to build liquefied petroleum gas terminal and a lubricant blending plant with investments of 21.14 million US dollar at Hambantota port, a minister said. Both projects will serve export markets. Information minister Keheliya Rambukwelle said the cabinet of minister had […]
Sri Lanka Treasuries yields flat
Aug 14, 201 3 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesdays auction with the 12-month bills easing one basis point to 10.56 percent, data from the state debt office showed. . Three and six month bills were offered at this auction, following a gap. Three month bills were sold to yield 8.61 […]
Sri Lanka stocks close up 1.07-pct
Aug 14, 2013 (LBO) – Sri Lanka’s stocks closed up 1.07 percent Wednesday with foreign interest driving up stocks such as Ceylon Tobacco, brokers said. The benchmark Colombo All Share Index closed 1.07 points higher at 6,208.67 and the S&P SL 20 Index closed 30.87 points higher at 3,484.10 up 0.89 percent. Turnover was 1.9 […]
Vehicle Trend
Aug 14, 2013 (LBO) – Sri Lanka’s car registration have surged forward to a 15-month high of 2,305, up 74.6 percentfrom a year earlier, mostly driven by pre-registered cars, an analysis of data shows. But rulers gave state workers tax slashed permits most of which are now being sold to the more affluent ordinary citizens, […]
Spectator Port
Aug 14, 2013 (LBO) – Large crowds have surged to view a billion US dollar port expansion project in Sri Lanka after the state port agency opened its doors to the public, extending a deadline twice on popular appeal.The port had not seen by many people in Sri Lanka, as it was under tight security […]
Tight Quarter
Aug 14, 2013 (LBO) – Profits at Commercial Bank of Ceylon, Sri Lanka’s largest private lender fell 5.0 percent to 2.3 billion rupees in the June 2013 quarter, amid forex losses on foreign funding, interim accounts showed. The bank’s core capital adequacy rose to 13.85 percent to by June from 12.63 percent in December and […]
Gilt Glitter
Aug 14, 2013 (LBO) – Defaults in Sri Lanka’s gold-backed loans will grow and keeping defaulters out of a credit information system increases moral hazard by not discouraging default, an international credit rating agency said. Standard & Poor’s said in a report that defaults in gold-backed loans in banks covered by the agency was rising. […]
‘s Balangoda Plantations profits plunge 56-pct
Aug 14, 2013 (LBO) – Balangoda Plantations Plc, a tea farming company in Sri Lanka’s Stassen group said profits fell 56 percent to 45.7 million rupees in the June 2013 quarter from a year earlier. Sri Lanka’s tea companies have been facing higher wage costs and from around mid year production disruption due to heavy […]