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Sri Lanka bond rates rise to straighten inverted yield curve
Oct 10, 2012 (LBO) – Sri Lanka’s bond rates have risen by 40 to 50 basis points over two days almost ending an inversion of the yield curve where short term Treasuries yielded higher than longer term gilts. But expectations of lower inflation in the future, which can shift more short term money to the […]
Sri Lanka stocks close down 1.04 pct
October 10, 2012 (LBO) – Sri Lanka stocks closed down 1.04 percent Wednesday with several blue chip stocks losing ground. Commercial Bank slipped 0.20 cents to close at 111.80 rupees down 0.18 percent. DFCC Bank dropped 1.60 rupees to close at 115.20 rupees down 1.37 percent. Hatton National Bank closed at 113.00 rupees down 0.18 […]
‘s Views
Oct 10, 2012 (LBO) – Recent assaults on the judiciary are attacks on the people, a group of concerned citizens have said following attempts to intimidate one of the country’s last remaining independence commissions and the assault of its secretary a senior judge. “Attacks on judicial independence are attacks on the people,” Friday Forum, a […]
Regional trade forum in Sri Lanka to have SME focus
Oct 10, 2012 (LBO) – An Asia-Pacific trade forum to be held in Sri Lanka’s capital Colombo will have sessions focusing on small and medium enterprises and member of regional chambers in the island will take part, the island’s largest business chamber said. Local SME’s will have a special session to interact with speakers from […]
Sri Lanka stocks close down 0.24 pct
October 09, 2012 (LBO) – Sri Lanka stocks closed down 0.24 percent Tuesday with indices seeing sharp gains earlier in the day on news that the regulator has loosened credit and broker stock sales restrictions, brokers said Commercial Bank slipped 0.10 cents to close at 112.10 rupees down 0.09 percent. DFCC Bank dropped 1.40 rupees […]
Sri Lanka says travel to Tamil Nadu safe for citizens
Oct 09, 2012 (LBO) – Sri Lanka has lifted a travel advisory to the Indian state of Tamil Nadu that was imposed in the wake of a series of attacks by Tamil political groups on visiting pilgrims from the island. “People-to-people contact plays an important role in the multifaceted India-Sri Lanka relationship, especially in further […]
Sri Lankans missing taste of good tea: top exporter
Oct 09, 2012 (LBO) – Mlesna, a top Sri Lankan tea brand, has begun advertising using displays on a new taxi service, aiming to popularise the island’s best known export among local consumers. Mlesna Tea founder Anselm Perera said he wants to make tea drinking more popular among local consumers and raise awareness about the […]
Condemnation
Oct 09, 2012 (LBO) – The Ceylon Chamber of Commerce, Sri Lanka’s top business grouping has condemned an attack on a top official of an independent judicial commission, days after he complained of intimidation and interference by the executive. “The Ceylon Chamber of Commerce (CCC) notes with grave concern the attack on the Secretary of […]
Cell Rating
Oct 09, 2012 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating with a stable outlook citing support from its Malaysia-based parent and said its stand alone credit profile had improved to ‘AA ‘AA+(lka)’ from ‘AA(lka)’. “Dialog’s standalone credit profile is strong, and has improved between 2010 and 2012, helped by a benign competitive environment […]
‘s public-private action in Galle
Oct 09, 2012 (LBO) Some colleagues who had come to Sri Lanka at my invitation for a business meeting had flights out Sunday late evening. My first thought was to take them around Colombo on the free day to kill time before they left for the airport around 5 PM. Then someone asked why not […]
Sri Lanka raises alcohol taxes
Oct 09, 2012 (LBO) – Sri Lanka has raised taxes on alcohol ahead of a budget to be presented in parliament next month, a day after excise taxes on tobacco was raised, the island’s finance ministry has said. Taxes on wine has been raised to 898 rupees a proof litre from 838 rupees, molasses, palmyra, […]
Sri Lanka Krrish project gets sweeping tax breaks
Oct 08, 2012 (LBO) – A 450 million US dollar hotel and residential development in Sri Lanka’s capital Colombo by India’s Krrish group is getting sweeping tax benefits running up to 25 years. Krrish group is building a tower block in Colombo’s colonial quarter by the side of an historic British administration building ‘Transworks House’ […]