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Sri Lanka hotel to be re-built by Banyan Tree
May 30, 2013 (LBO) – Sri Lanka’s Beruwala Walk Inn, a unit of Singapore-based Banyan Tree leisure group will re-build a hotel which was washed away in a tsunami in 2004, a top official has said.Banyan Tree gained control of Beruwala Walk in from John Keells Holdings in October 2003 and closed it for refurbishment […]
” duty
May 30, 2013 (LBO) – Bicycles made in Sri Lanka, Indonesia, Malaysia and Tunisia with Chinese components have been hit with ‘anti-dumping’ duties by the European Union, a media report said. Bloomberg newswires said EU had determined that bikes with Chinese parts were assembled in several countries including Sri Lanka to avoid a 48.5 percent […]
Sri Lanka Treasuries yields steady
May 29, 2013 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction with the 3-month yield down 02 basis points to 8.73 percent and other maturities flat, data from the state debt office showed.The 6-month yield was flat at 9.90 percent and the 12-month yield was 10.86 percent. The debt office, which is […]
Sri Lanka to sell 30-year long bonds
May 29, 2013 (LBO) – Sri Lanka is selling 30-year long bonds for the first time this week which fill a need for long term gilts, help better manage the state debt stock and extend a risk free yield curve, officials said.We think it is a good time,” Central Bank Nivard Cabraal said. “There will […]
Sri Lanka stocks close up 0.3-pct
May 29, 2013 (LBO) – Sri Lanka’s stock closed up 0.33 percent on Wednesday ending two days of losses helped by renewed interest in banks and beverage shares, brokers said. The benchmark Colombo All Share Index closed 21.11 points higher at 6,455.81 and the S&P SL 20 Index closed up 17.68 points at 3,644.64 up […]
Road Finance
May 29, 2013 (LBO) – China Development Bank will help finance an expressway to Sri Lanka’s North, the government said, after visiting President Mahinda Rajapaksa met its chairman Hu Huaibang in Beijing.CDB had already given 866 million US dollars for roads and irrigation including 214 million US dollars for Sri Lanka’s Moragahakanda Irrigation Project. The […]
‘s Anilana Resorts in public offer
May 30, 2013 (LBO) – Anilana Hotels and Properties Limited has been given the nod to raise up to 960 million rupees through a public issue of shares, the Colombo Stock Exchange said.The firm will offer 40 million ordinary shares at 12 rupees a share to raise 480 million rupees and go up to 80 […]
Sri Lanka proposed lease tax, foreigner curbs, may hurt property market: developer
May 29, 2013 (LBO) – A proposed tax on leases and restrictions on sale to foreigners may hurt the market, a property development firm has said.“The proposed amendment to the law introducing a prohibition of sale of lands in Sri Lanka to foreign nationals and on imposing a tax on lease value will have a […]
Cricket: Indian chief must quit, says ministry
NEW DELHI, May 29, 2013 (AFP) – India’s sports ministry on Wednesday piled pressure on the chief of the country’s cricket board to quit on “moral grounds” over a widening betting and spot-fixing scandal that has rocked the sport.N. Srinivasan, head of the Board of Control for Cricket in India (BCCI), has been under fire […]
‘ IPL struggles
BIRMINGHAM, United Kingdom, May 28, 2013 (AFP) – Sri Lanka captain Angelo Mathews is confident his side can impress during the upcoming Champions Trophy tournament in the United Kingdom.“Early summer is always going to be like this — wet — and it’s going to swing and seam. “So I think that’s our main challenges as […]
Pros and cons of government ownership in Sri Lanka
May 29, 2013 (LBO) – There is an argument being made in the rich parts of Colombo. It is not being articulated in words, but in deeds. The Navy is running pleasure boat services and restaurants. The army is fixing up walking paths. Government appointees are running the upscale clubhouse at Water’s Edge. Through these […]
UN human rights chief invited to Sri Lanka: foreign ministry
COLOMBO, May 28, 2013 (AFP) – The UN human rights chief has been invited to Sri Lanka in August, the foreign ministry said Tuesday, months after Colombo reacted angrily to her request for a war crimes probe.The High Commissioner for Human Rights Navi Pillay has been invited to the country as part of Colombo’s “continued, […]