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Sri Lanka rupee held below Rs127.00 to US dollar
Apr 24, 2013 (LBO) – Sri Lanka’s rupee steadied at slightly below 127.00 rupees to the US dollar in the spot market helped by selling from a state bank that usually acts for the monetary authority, dealers said. The spot US dollar was quoted around 126.90/127.00 when a state name entered the market with a […]
Sri Lankans to apply online for UK visa from May 06
Apr 24, 2013 (LBO) – Sri Lankans visiting the UK should apply online from Monday May 06, the British High Commission in Colombo said.Manually completed applications will no longer be accepted but a printout of the applications and supporting documents should be taken when an applicant visit the visa centre, using an appointment issued online. […]
Sri Lanka Access group to build US$12mn 25-floor office tower
Apr 24, 2013 (LBO) – Sri Lanka’s Access group will build a 12 million US dollar office tower next to an existing building in Colombo’s Union Place, the state investment promotion agency said. Sri Lanka’s Board of Investment which gives tax breaks to investments said the office complex built on a 74-perch block is expected […]
‘s current and ex-power ministers
Apr 24, 2013 (LBO) – A battle has sparked between Sri Lanka’s current and ex-power ministers following a hike in tariffs which has already drawn fire from opposition parties. Former power minister Champika Ranawaka denied he initiated a tariff hike after media reported that current minister Pavithra Wanniarachchi as saying she only completed the task […]
Sri Lanka to pay lower charges if expired power plants are renewed
Apr 24, 2013 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has been given guidelines to negotiate much lower rates if expired contracts of power plants are extended, a top official said.“The CEB had been given strict guidelines to negotiate much lower charges if they are needed,” power ministry secretary M M C Ferdinando said […]
‘s Hemas buys into Panasian Power
Apr 24, 2013 (LBO) – Sri Lanka’s Hemas Power Plc has bought a 20 percent stake in Panasian Power for 300 million rupees, upping the group stake to 29.3 percent, the company said. The 100 million share stake was bought for 3.00 rupees each from Power Hub International Sdn, Bhd, Malaysia. Hemas Power subsidiaries Okanda […]
Slipping
Apr 24, 2013 (LBO) – Demand for lubricants fell in the first quarter, on the back of a slowing economy and lower thermal power generation but profits at Sri Lanka’s Chevron Lubricant unit profits rose amid falling expenses, interim accounts showed.Floods had also hurt agriculture and users were moving to longer lasting higher technology lubricants. […]
India says aid projects progressing in Sri Lanka
Apr 24, 2013 (LBO) – An Indian foreign ministry committee has evaluated the progress of several projects funded by the country’s tax payer in Sri Lanka mainly in war torn areas in the north.India’s High Commission (embassy) in Colombo said a monitoring committee led by P S Raghavan, special secretary development administration and Bimal Julka, […]
Sri Lanka Treasuries yields ease
Apr 23, 2013 (LBO) – Sri Lanka’s Treasuries yields eased a basis points at this Tuesday’s auction with the 3-month yield at 9.23 percent, data from the state debt office showed.The 6-month yield also fell one basis point to 10.23 percent. The 12-month yield was flat at 11.34 percent. The debt office, which is a […]
Sri Lanka stocks close 0.2-pct higher
Apr 23, 2013 (LBO) – Sri Lanka’s stocks closed up 0.19 percent helped by foreign buying into banking and beverages firms, brokers said. John Keells Holdings closed at 248.90 up 90 cents, Dialog Axiata closed at 9.30 up 0.10 rupees and Ceylon Tobacco closed up 1.90 rupees at 801.90. Distilleries Company of Sri Lanka closed […]
‘s Hamilton Canal reconstruction in progress
Apr 23, 2013 (LBO) – Rebuilding and clearing of Sri Lanka’s Hamilton Canal in Negambo is progressing with a bridge at Palliyawatta to improve the environment for residents and to attract tourists the economic development ministry said.A project by the Western Province Tourism Ministry and Sri Lanka Tourism Development Authority expects to re-build a 22 […]
‘s CEB says nothing sinister in water release
Apr 23, 2013 (LBO) – Sri Lanka’s Ceylon Electricity Board’s recent release of water from its Upper Kotmale reservoir was due to a maintenance requirement and was not intended to benefit a private thermal plants, a top official said.The water from Upper Kotmale was released into the Kotmale Reservoir which is lower in the cascade […]