Category:
Rubber Bastion
Oct 03, 2012 (LBO) – John Keells Plc, a commodity broking firm said Mekala Wanigasuriya, one its employees became the first female to auction rubber, since Colombo auctions began 112 years ago. The firm said the first ever lady tea auctioneer was also from John Keells. “For the first time in 112 years, a lady […]
Tele Conference
Oct 03, 2012 (LBO) – A telecom regulators forum in Sri Lanka’s capital Colombo is looking at ways to create better conditions to foster information technology as broadband coverage takes holds around the world officials said. Lalith Weeratunga, chairman of Telecommunications Regulatory Commission of Sri Lanka said regulator had to strike a balance between regulation […]
SriLankan Airlines to host IATA HR confab
September 03, 2012 (LBO) – National carrier Sri Lankan airlines is set to host the second International Air Transport Association (IATA) Global Human Capital Summit in Colombo giving a boost to the island’s push towards becoming a global aviation hub. “The IATA summit brings together the best in global aviation to share and discuss their […]
Sri Lanka state-carrier to invest Rs200mn in flight kitchen
Oct 03, 2012 (LBO) – State-run SriLankan Airlines will invest 200 million rupees to build a flight kitchen at the second international airport which is being built in Hambantota in the island’s south, an official said. The second airport at Mattala, built with Chinese financing is expected to be completed by the end of the […]
India starts kicks off second stage of housing project
Oct 03, 2012 (LBO) – India has started the second phase of building and repairing 43,000 houses in Sri Lanka’s war ravaged Northern and Eastern provinces under a 270 million US dollar grant aid project targeting 50,000 homes. Each beneficiary would be given 550,000 rupees (230,000 Indian rupees) for a new house in installments and […]
Sri Lanka stocks closed down 0.60 pct
October 02, 2012 (LBO) – Sri Lanka stocks closed down 0.60 percent Tuesday with some of the blue chip stocks losing ground. Index heavy John Keells Holdings PLC slipped 2.40 rupees to close at 225.10 rupees down 1.05 percent. Dialog Axiata dropped 0.10 cents to close at 9.00 rupees down 1.10 percent. The Colombo All […]
Outward Eye
Oct 02, 2012 (LBO) – Sri Lanka’s NDB Bank group will use a part of the cash from a 59 million US dollar exit from an insurance unit for regional expansion, chief executive Russel de Mel said. “We are looking for regional expansion,” de Mel said. “Though we have 30 years of experience as a […]
M&A Forum
Oct 02, 2012 (LBO) – Sri Lanka chapter of UK’s Chartered Management Institute and KPMG, a accounting firm, has organized a forum on mergers and acquisitions as businesses look outside organic growth to expand. While mergers and acquisitions are becoming popular there are also risks and challenges. CMI and KPMG has brought together a group […]
Sports Backbone
Oct 02, 2012 (LBO) – Sri Lanka Telecom, the island’s largest telecom provider says it is providing high speed connections to all sporting venues during the Twenty20 world cricket championships being held in the island. SLT has provided fibre optic links to cricket stadia in Hambantota and Galle in the south, Pallekele in central Sri […]
‘s state debt expands amid currency fall, forex loans
Oct 02, 2012 (LBO) – Sri Lanka’s state debt has expanded by more than a trillion rupees to 6,161 billion rupees up to July 2012 from 5,133.3 billion rupees in December 2012, as the currency depreciated and foreign borrowings increased. Domestic borrowing had fallen to 53.02 percent from 59.6 percent over the same period. In […]
Sri Lanka mid-year fiscal report not responsive to law: legislator
Oct 02, 2012 (LBO) – An interim report on state finances presented to parliament is not responsive to Sri Lanka’s fiscal management responsibility law and lacks key information, a legislator has said. Harsha de Silva, an opposition legislator who is an economist, has told parliament that in Sri Lanka’s mid-year fiscal report covering fiscal operations […]
Sri Lanka rupee extends gains amid tight liquidity
Oct 01, 2012 (LBO) – Sri Lanka’s rupee strengthened to a near four month high Monday with money markets continuing to be tight with the rupee quoted as low as 128.90/129.00 to the US dollar in the spot market, dealers said. Market participants said cash deals were seen at 128. 80 to the US dollar. […]