Category:
‘s spin trial
CARDIFF, June 8, 2013 (AFP) – New Zealand are preparing to face a spin barrage from Sri Lanka when the two sides meet in the Champions Trophy in Cardiff on Sunday.But Sri Lanka still lost that game with one over to spare as India rode Dinesh Karthik’s unbeaten 106 and Virat Kohli’s 144 to a […]
Berth Building
May 06, 2013 (LBO) – State-run Sri Lanka Ports Authority has contracted Hyundai Engineering to build a 36 billion rupee berth in an expansion project of the Colombo port, the state information office said.The cabinet of ministers had given the nod to proceed with the project. The berth will be built on the East Terminal […]
Sri Lanka Sunshine Holdings cuts plantations unit stake
June 7, 2013 (LBO) – Sri Lanka’s Sunshine Holdings said it had sold a stake in its plantations unit to Pyramid Wilmar Plantations (Pvt) Ltd, for 910.3 million rupees. The sale cut its stake in Estate Management Services (Pvt) Ltd to 33.15 percent from 51 percent by the sale of 5.59 million shares, the firm […]
Sri Lanka to assess marine fish stocks
June 07, 2013 (LBO) – Sri Lanka will conduct a comprehensive marine fisheries stock assessment in 2013 for the first time in nearly four decades with Thai assistance, an official said. Fisheries minister Rajitha Seneratne said last month that fishing vessels from Japan to be run by Koyoshi Kimura, a sushi restaurant chain owner known […]
‘s SMI Housing in US$10mn apartment complex
June 7, 2013 (LBO) – A 26-storey apartment block will be built with a 10 million US dollar investment at Deal Place, in an up market suburb in Sri Lanka’s capital Colombo, the state investment promotion agency said.The Board of Investment of Sri Lanka which gives tax breaks SMI Housing, said the developer will construct […]
Sri Lanka businesses warned on planned media curbs
June 07, 2013 (LBO) – Sri Lanka’s businesses had been warned on the future effects on liberty in the island following attempts to impose fresh controls on the media through a ‘code of ethics’. Government officials have said it does not amount to a new law but critics say the island has a history of […]
Sri Lanka lending rates to ease with lower state borrowing: Central Bank
June 7, 2013 (LBO) – Sri Lanka’s bank lending rates are expected to ease in the second half of 2013 with reduced bank borrowings by the state, the Central Bank said holding policy rates in June, after a cut last month. In May the monetary authority cut its policy rate corridor by 50 basis points. […]
Europe looking to take control of Libor: FT
LONDON, June 6, 2013 (AFP) – European Commission officials have drafted plans to take the scandal-hit key interest rate Libor from its current London base, the Financial Times reported on Thursday.It is calculated daily, using estimates from banks of their own interbank rates, and affects the pricing of more than 0-trillion of contracts across the […]
Saudi Connection
June 6, 2013 (LBO) – Sri Lanka Ports Authority inked a deal for a 44 million US dollar yatch and shipbuilding facility, Thursday with Saudi Arabia based Hadi Hamad Al-Hammam Group’s Seagulf Shipyard (Pvt) Ltd, the state port agency said. Chairman of SLPA, Priyath Wickrama, Hadi Hamad Al-Hammam, president, Hadi Hamad Al-Hammam Group and Nazeer […]
Road Finance
June 6, 2013 (LBO) – Sri Lanka’s state-run Bank of Ceylon will finance 48.2 kilometre road at a cost of 3,915 million rupees, the state information office said.The cabinet of ministers had given the nod for the proposal by the ministry of finance to enter into a loan agreement with the bank. The road will […]
”’ guests
June 6, 2013 (LBO) – Cinnamon Lakeside, a unit of Sri Lanka’s John Keells group said it saw more ’emerging market’ guests in the past year, while facing competition from luxury apartments. The company said in the past year occupancy had risen to a average of 60 percent from 55 percent and room rates had […]
Sri Lanka Tea Smallholder Factories expands leaf suppliers
June 06, 2013 (LBO) – Sri Lanka’s Tea Smallholder Factories Ltd, a unit of John Keells Holdings, which produces tea from green leaf bought from independent growers said it had expanded suppliers during the past year. The company runs a network of eight factories. Last year it had increased suppliers by 2,714 to 11,532 direct […]