Category:
Oil Plans
Feb 18, 2013 (LBO) – Sri Lanka is planning to offer up to 11 off-shore oil blocks on production sharing deals in a bidding round that will close around September and others where less data is available for joint study, a media report said. Sri Lanka is to open a second bidding round in March […]
Oil Offer
Feb 18, 2013 (LBO) – Sri Lanka is kicking of a second licensing round for off-shore oil blocks with road show starting in Houston on March 07, reports said.A notice on Sri Lanka’s petroleum resources development office said bidders conferences will also be held in London on March 12, and in Singapore on March 21 […]
Sri Lankan dairy firm to expand capacity, profits up
Feb 17, 2013 (LBO) – Lanka Milk Foods Plc a unit of Sri Lanka’s Distilleries group said it will spend 800 million rupees to expand liquid milk processing and packing capacity at a subsidiary.Lanka Milk Foods’ revenues rose 9.5 percent to 1.41 billion rupees in the December 2013 quarter, expenses rose at a slower 2.6 […]
Shooting
COLOMBO, Feb 16, 2013 (AFP) – Gunmen shot and wounded a Sri Lankan journalist near the capital Colombo, police said Saturday, the latest in a string of attacks on the island’s media.Faraz Shauketaly, a reporter with the privately-run Sunday Leader whose editor was shot dead in 2009, was rushed to hospital for surgery following the […]
Sri Lanka sells US$152 million in floating rate bonds
Feb 15, 2013 (LBO) – Sri Lanka has sold 152.12 million US dollars of 3-year bonds to yield 400 basis points above the 6-month London Interbank Offered Rate, the state debt office said.The debt office which is a unit of the Central Bank offered to sell 60 million dollars of bonds styled ‘Sri Lanka Development […]
Sri Lanka hotel group calls for destination marketing
Feb 15, 2013 (LBO) – A top Sri Lankan resort operator which also has overseas operations has again called for tourism authorities to have strong destination promotion in line with regional competitors. Aitken Spence said it had strong results from the Maldives, which is set up as a niche high end destination. “We are keen […]
Charity Music
Feb 15, 2013 (LBO) – An annual country music concert will be held for the 25th time in Sri Lanka’s capital Colombo to raise funds for needy children with European and US performance along local artistes performing, its organizers said.Colombo-base Country Music Foundation said its ‘Country Roads’ festival is the longest running concert of its […]
Petro Balance
Feb 15, 2013 (LBO) – Profits at Lanka IOC, a Sri Lanka unit of Indian Oil Corporation rose 16 percent to 728 million rupees in the December 2012 quarter from a year earlier, partly helped by forex gains, an official said. About 27 percent of the retail price of petrol is made up of government […]
Sri Lanka Treasuries auction yields down
Feb 14, 2013 (LBO) – Sri Lanka’s Treasuries yield fell across maturities at Wednesday’s auction with the 3-month yield falling as much as 15 basis points to 9.10 percent, data from the state debt office showed. The 6-month yield fell 8 basis points to 10.08 percent and the 12-month yield fell one basis point to […]
Sri Lanka economy will be stable with cost-based energy prices: IMF
Feb 14, 2013 (LBO) – Sri Lanka’s economy will be stable and more domestic resources will be available for high value spending if energy prices are adjusted to match import costs, the International Monetary Fund had said.“Step number one could be to adjust prices closer to cost-recovery, if not have cost recovery,” IMF mission chief […]
Sri Lanka seeks US200mn from World Bank for health
Feb 14, 2013 (LBO) – Sri Lanka is seeking a 200 million US dollar credit from the World Bank to improve the health care system and reduce non-communicable diseases, minister Keheliya Rambukwelle said.The money will be used in programs to reduce malnutrition, prevent and control non-communicable diseases and improve maternal and child care. The program […]
‘s tax-take weakens amid slowdown, exemptions: IMF
Feb 14, 2013 (LBO) – Sri Lanka’s tax revenues had fallen below target in 2012 amid an economic slowdown, declining imports and tax exemptions, the International Monetary Fund said. The IMF said Sri Lanka’s value added tax (VAT) regime is yielding less taxes than it should at current rates in force. “Strengthening the administration of […]