Category:
Loss Leaders
Oct 18, 2012 (LBO) – Sri Lanka’s state railway system had lost 28.2 billion rupees over the past seven years and 2,689 employees had been hired into the permanent cadre, data tabled in Sri Lanka’s parliament showed. Minister Rohana Dissanaya was responding to questions from legislator Dayasiri Jayasekera had said that Sri Lanka railways had […]
Sri Lanka Tamil Tiger leader in charity work
COLOMBO, Oct 17, 2012 (AFP) – The last leader of Sri Lanka’s Tamil Tigers, who is wanted by India over the assassination of former premier Rajiv Gandhi, has been freed from military custody, the defence ministry said Wednesday. Selvarasa Pathmanathan, who was arrested in August 2009, was no longer in detention and was free to […]
Sri Lanka war refugee re-settlement backed by the US
Oct 18, 2012 (LBO) – The United States has given 3. 0 million US dollars to three organizations to help re-settle war refugees with sufficient shelter, access to water and sanitation, the US embassy in Colombo said. The money will be used in Mullaitivu and Killinochchi districts in Sri Lanka’s north, by three charities; ZOA […]
Sri Lanka Central Bank to sell down Treasury bill stock: Governor
Oct 18, 2012 (LBO) – Sri Lanka’s Central Bank will gradually sell down its Treasury bill stock, as they come up for maturity, Governor Nivard Cabraal said, in a move which can strengthen the island’s rupee peg and increase foreign reserves. A T-bill sell-down will stop the rupees from being given as loans by banks, […]
Sri Lanka Treasuries yield up at auction
Oct 17, 2012 (LBO) – Sri Lanka’s Treasuries yields edged up slightly at Wednesday’s auction with the 12 month yield rising 07 basis points to 12. 39 percent, data from the state debt office showed. The 03 month yield rose 03basis points to 10. 66 percent and 06-month yield rose 06 basis points to 11. […]
Sri Lanka stocks closed down 0.39 pct
October 17, 2012 (LBO) – Sri Lanka stocks closed down 0.39 percent Wednesday recording the lowest turnover in two months. The Colombo All Share Index closed at 5,586.40 down 21.73 points and the S & P SL 20 Index closed 19.61 points lower at 3,017.33 down 0.65 percent. Turnover was 372 million rupees, the lowest […]
Platform Upgrade
Oct 17, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said its e-banking platform had been upgrade to be more user-friendly, give customers more control and better security features had been added. “e-Banking continues to grow in significance to customers of Commercial Bank,¦” Palitha Perera assistant general manager operations of Commercial Bank said in […]
Sri Lanka state airline in Golf tourism push
Oct 17, 2012 (LBO) – SriLankan Golf Classic, a three day event with 130 international participants will kick off on October 19, as part of the state-run SriLankan Airlines to boost the island’s image as a sports destination, officials said. “Many countries in the Far East and South Asia have identified the potential in Sports […]
Visa Fraud
Oct 17, 2012 (LBO) – The United Kingdom has not endorsed any agent in Sri Lanka to help with visa applications and applicants who submit false documents will face a 10-year travel ban and action by domestic authorities, the UK High Commission in Colombo has said. “We welcome genuine visitors, students and workers to the […]
Sri Lanka power plant to use up to 700,000 tonnes of coal a year
Oct 17, 2012 (LBO) – Sri Lanka will use between 650,000 to 700,000 metric tonnes of coal a year for its first 300 MegaWatt coal power plant when it is in full operation, power minister Champika Ranawaka has said. The firm had supplied 362,682 tonnes in the period. Jayasekera then said Holcim’s bid was higher […]
Sri Lanka stocks closed down 0.81 pct
October 16, 2012 (LBO) – Sri Lanka stocks closed down 0.81 percent Tuesday with several blue chips losing ground. The Colombo All Share Index closed at 5,608.13 down 45.67 points and the S & P SL 20 Index closed 18.92 points lower at 3,036.94 down 0.62 percent. Turnover was 515 million rupees. Top contributors to […]
Sri Lanka hotel gets US$10mn IFC loan
Oct 16, 2012 (LBO) – International Finance Corporation, a World Bank group unit will loan 10 million US dollars to Sri Lanka’s Soflogic group to renovate a hotel in the island’s South Western beach. The will be used to renovate and expand Ceysands Hotel, a 66-room hotel in Bentota into a 166 room 4-star resort, […]