Category:
Vehicle Taxes
Nov 15, 2012 (LBO) – Prices of small cars may go up by 200,000 and trucks by about 400,000, and three wheelers by about 25,000 following tax changes announced in the budget, industry officials said. The prices of larger cars will remain stable as they already pay over 750,000 in taxes, under the rules announced […]
Tight Quarter
Nov 15, 2012 (LBO) – Profits at Sri Lanka’s Sampath Bank group fell 9. 1 percent to 1.04 billion rupees in the September 2012 quarter from a year earlier amid weaker fee income and foreign exchange losses, interim accounts showed. The group reported earnings of 6.46 rupees for the quarter. For the nine months to […]
Sri Lanka top tourism groups renew call for destination marketing
Nov 15, 2012 (LBO) – Two of Sri Lanka’s largest resort chains which also have operations in Maldives have renewed a call for tourism authorities to market the island effectively partnering with the those in the business. “In the present global context of turbulence and uncertainty, we see a clear opportunity for Sri Lanka to […]
‘s Aitken Spence net up 56-pct
Nov 15, 2012 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in tourism, logistics and power generation said profits in the September 2012 quarter grew 56 percent to 731 million rupees from a year earlier. The group reported earnings of 1. 80 rupees per share for the quarter, in results filed with the […]
Gateway Deal
Nov 15, 2012 (LBO) – MillenniumIT, a Sri Lanka based unit of the London Stock Exchange has signed a deal to provide Hong Kong Exchanges and Clearing Limited (HKEx) with an order routing platform. HKEx is the holding company of Hong Kong’s stock and futures exchanges and its clearing unit. Millennium IT software has been […]
‘s Aitken Spence building 200MW power plants in Bangladesh
Nov 15, 2012 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in tourism, logistics and power generation said it will build two oil fired power plants totaling 200 MegaWatts in Bangladesh. In Sri Lanka the firm said it had connected a wind and hydro plant to the national grid. Earlier the group had […]
Bidding Round
Nov 15, 2012 (LBO) – Sri Lanka will offer up to ten offshore oil blocks in a bidding round that may start as early as next month, Saliya Wickramasuriya director general of the island’s petroleum exploration office said. Blocks will be offered around the island ranging from the Western coast and curving over the north […]
Sri Lanka Treasuries yields up on longer end
Nov 14, 2012 (LBO) – Sri Lanka’s Treasuries yield rose as much as 08 basis points to 12. 73 percent for the 12-month maturity but the 3-month yield fell 01 basis point to 10. 67 percent, data from the state debt office showed. The 6-month yield rose 03 basis points to 12.05 percent. The debt […]
Sri Lanka Bank of Ceylon debenture demand strong: officials
Nov 14, 2012 (LBO) – A sale of 5-year debenture of up to 6. 0 billion rupees by state-run Bank of Ceylon, due to open on November 15 has seen strong demand and is expected to close quickly, an official said. P A Lionel, deputy general manager treasury and investments of Bank of Ceylon said […]
Finance Rating
Nov 14, 2012 (LBO) – Sri Lanka’s Fitch Ratings has confirmed an ‘A+(lka)’ rating of Central Finance Company Plc, the country’s largest finance company at the end of 2011, with a stable outlook. At end-2011, CF was the largest licensed finance company (LFC) holding 13% of LFC assets in Sri Lanka. An upgrade of CF’s […]
Tele Growth
Nov 14, 2012 (LBO) – Sri Lanka Telecom group, which owns the island’s only wireline network and also has mobile and wireless fixed services, said profits in the September 2012 quarter rose 70 percent to 1. 8 billion rupees from a year earlier. “Consistent Growth in operating profits in 2012 demonstrates our strength, resilience and […]
Sri Lanka visit by World Bank managing director
Nov 14, 2012 (LBO) – World Bank managing director Sri Mulyani Indrawati will visit Sri Lanka from November 15 to 19, to discuss the climate for private sector investment and seek ways for the to support the country further, the multilateral lender said. “Sri Lanka has made great strides in overcoming poverty as it transitions […]