Category:
Sri Lanka stocks down 1.2-pct, rupee weaker
June 13, 2013 (LBO) – Sri Lanka’s stocks closed down 1.22 percent on Thursday for third straight day and the rupee closed lower touching 128 to the dollar, amid turmoil in global markets, dealers and brokers said. Distilleries Company lost 60 cents to close at 194.40 rupees, The Lion Brewery closed at 385.00 down 50 […]
Transit Loss
June 12, 2013 (LBO) – Sri Lanka’s vehicle importers have been badly hit by a sharp increase in theft of parts in vehicles imported via Hambantota port and security has been tightened, officials said.“Our members frequently complain to us that there is a strong increase in the stealing of vehicle parts especially in the past […]
Banking Forum
June 13, 2013 (LBO) – A forum for chief financial offers will kick off Thursday evening on opportunities, strategies and challenges with respect to the future growth of Sri Lanka’s banking sector. Senior bankers and a senior representative from Central Bank will take part in panel discussion on the above areas and other key challenges. […]
Networking Link
June 13, 2013 (LBO) – Business and Professional Women International, an organization spread across 125 countries will be holding a conference in Sri Lanka in August to promote joint ventures trade and ecotourism, organizers said.The conference will be held from August 10 to 12 in Colombo with the support of the parent organization which is […]
Sri Lanka processing large property projects
June 13, 2013 (LBO) – Sri Lanka is processing several large mixed development projects in the capital Colombo including two which may be over 500 million US dollars, investment promotion minister Lakshman Abeywardena said.BOI chairman Lakshman Jayaweera said the agency was expediting approvals and helping get clearances for investors with other line ministries and agencies. […]
Cricket: Warner facing uncertain future after Root attack
BIRMINGHAM, June 12, 2013 (AFP) – David Warner’s future as a member of the Australia tour party in England was in the balance following his bar-room attack on England’s Joe Root. Warner struggled against England, scoring only nine runs in 21 balls. He also failed to score in warm-up games against India and West Indies. […]
Sri Lanka to ban foreign investments in to steel, cement, retail trade
June 13, 2013 (LBO) – Sri Lanka plans to ban foreign investments into steel, cement, retail trade, small scale agriculture and beauty care products, to ‘protect’ domestic investors, according to decision by the cabinet of ministers.Cabinet spokesman Keheliya Rambukwelle said relevant regulations would be made known later. He said existing investors in the sectors will […]
Sri Lanka relaxes foreign exchange controls
June 12, 2013 (LBO) – Sri Lanka has relaxed controls on foreign exchange for travel, migration, sale of residential property by non-residents and maintaining foreign exchange accounts.“During the past few years, Sri Lanka’s macroeconomic fundamentals have improved and the domestic financial sector has become stronger and more resilient,” the Central Bank said in a statement. […]
Sri Lanka short term Treasuries ease
June 12, 2013 (LBO) – Sri Lanka’s short term Treasuries yields eased at Wednesday’s with the 3-month yield falling 03 basis points to 8.67 percent, the state debt office said. The 6-month yield fell 01 basis point to 9.80 percent and the 12-month yield was flat at 10.85 percent. The state debt office said 943 […]
Asset Mix
June 12, 2013 (LBO) – Sri Lanka’s licensed finance companies (LFC), which play in the sub-prime market has cut exposure to property and stocks, though they are facing an uptick in non-performing loans amidst a downturn, a rating report said.Investments in land and property had fallen to 1.86 percent of assets in the 9 months […]
Sri Lanka investment approval for Crown in final stages: minister
June 12, 2013 (LBO) – Investment approval for Australian magnate James Packer’s Crown group for a joint venture mixed development in Sri Lanka is being finalized and details will be presented parliament soon, investment minister Lakshman Abeywardena said.If the promoters wish to shift a casino to the project he said that was between the partners […]
Sri Lanka mulls safety rules on fishermen as monsoon kills 54
June 11, 2013 (AFP) – The death toll in Sri Lanka from strong monsoon winds and heavy rains rose to 54, as the government announced on Tuesday new safety requirements for small fishing boats.The minister said small boats which usually go out to sea at night and return at dawn were not regulated and did […]