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Sri Lanka ICC, Nivasie in Rs3.6bn property venture
Dec 31, 2012 (LBO) – Sri Lanka’s International Construction Consortium (Pvt) Ltd, is promoting a 3. 6 billion rupee property development in Malabe in the outskirts of the capital Colombo, the state investment promotion agency said. The project will be financed with equity, debt financing facilities from banks and pre-sales. ICC will build 100 two-storied […]
Sri Lanka inflation rises 9.2-pct in 2012
Dec 31, 2012 (LBO) – Sri Lanka’s inflation rose 9. 2 percent to in the 12-months to December 2012 from a year earlier, with the Colombo Consumer Price Index rising 0. 9 percent during the month, the state statistics office said. The statistics office said the food sub group in the index from which heavily […]
‘s central bank slashes Treasuries holding with profit transfer: Governor
Dec 31, 2012 (LBO) – Sri Lanka’s central bank has cut its Treasury bill holding with a year-end transfer of profits Governor Nivard Cabraal said, in a move that will help avoid any negative effect on inflation, the exchange rate and foreign reserves. “We knocked off Treasury bills with it (profit transfer),” Cabraal said. A […]
Fourth Generation
Dec 30, 2012 (LBO) – Sri Lanka’s Dialog Axiata, a unit of Malaysia’s Axiata said it had launched fourth generation commercial broadband services starting with the capital Colombo targeting home and office markets. Wijayasuriya said the Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has created an environment which encouraged investment in new technology. “The smooth […]
Sri Lanka foreign reserves at US$6.54bn in Nov
Dec 29, 2012 (LBO) – Sri Lanka’s official reserves fell 56. 9 million US dollars to 6,490 million US dollars in November 2012 from a month earlier, but is still up 968 million US dollars from a February low of 5.52 billion US dollars. Sri Lanka floated the currency in February 2012 ending contradictory monetary […]
Sri Lanka sees surge of visitors from China
Dec 28, 2012 (LBO) – Chinese visitors to Sri Lanka has surged 164 percent to 3,353 in November 2012 with total visitors in the first 12 months up 46 percent to 22,176 data from the tourist promotion office shows. China is the top source of visitors for many fast growing East Asian countries. In Vietnam […]
Search Trend
Dec 28, 2012 (LBO) – Surfers in South Asian nations, led by Sri Lanka are among those who searched most for the English word ‘sex’ in Google in 2012, according to data from the search giant originally unearthed by Emirates 24/7, a UAE based news portal. A query on Google trends, which tracks search queries […]
Sri Lanka exports down 6.6-pct in November
Dec 28, 2012 (LBO) – Sri Lanka’s exports fell 6. 6 percent to 827.6 million US dollars in November 2012 from a year earlier but apparel exports picked up 4. 6 percent to 363 million US dollars, official data shows. The value of tea exports was also up a slight 0.6 percent to 126 million […]
Sri Lanka farmers earn US$31mn from Nestlé
Dec 27, 2012 (LBO) – The Sri Lanka unit of Nestlé, a Swiss-based food group said it had paid 4 billion rupees (31 million US dollars) to dairy and coconut farmers in the island to buy milk and coconuts during 2012. The firm has a network of 23,000 dairy farmers and 5,000 coconut farmers supplying […]
Oil Deals
Colombo, 2012 (LBO) – Sri Lanka is buying refined products from State-run Vietnam Oil and Gas group (PetroVietnam) favourable terms and is also getting credit facilities, petroleum minister Susil Premajayantha said. Sri Lanka’s state-run petroleum refinery, which is more suited processing Iranian crude has had trouble with other types after it became more difficult to […]
Sri Lanka prosperity index shows gains: Central Bank
Dec 25, 2012 (LBO) – Sri Lanka’s prosperity has increased 4. 1 percent in 2011 improving on two earlier years, according to an index which tracks well-being, economic infrastructure and the business climate, the Central Bank said. The Sri Lanka Prosperity Index has risen 4. 1 percent to 60.6 point in 2011 showing a steady […]
Sri Lanka Treasuries yields fall further
Dec 24, 2012 (LBO) – Sri Lanka Treasuries yields fell further at Monday’s auction held two days earlier due to Christmas holidays, with the 12-month yield falling as much as 49 basis points to 11. 69 percent. Since November 30, 3-month yields have fallen 79 basis points, the 6-month yield has fallen 77 basis points […]