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Sri Lanka state carrier opens sales office in Hambantota
Sept 20, 2012 (LBO) – State-run SriLankan Airlines said it is opening a sales office in Hambantota in the island’s south. Classic Travel (Pvt) Ltd, a fully owned unit of Sri Lanka’s Expolanka Holdings operate the agency office at No 30, Wilmot Street, Hambantota. .
India to relax garment import quota from Sri Lanka
Sept 20, 2012 (LBO) – India will increase a garment import quota by three million pieces a year to eight million without a sourcing requirement being imposed on Sri Lanka, the island’s industry ministry said citing a statement by a visiting Indian official. India and Sri Lanka has a free trade agreement through which nationalist […]
US deplores insults to religious beliefs, violence in the name of religion
September 20, 2012 (LBO) – The United States Thursday reiterated that it had nothing to do with an anti Islam film that sparked violent protests by Muslim hardliners across the globe and cost the lives of US embassy staff including that of the ambassador in Libya. “It should be noted that the United States strongly […]
Kero Trend
Sept 20, 2012 (LBO) – Sri Lanka’s kerosene sales have come down after a price hike in February that reduced a subsidy given by tax payers, while highly taxed petrol sales continue to grow, official data show. Data released by the Central Bank shows that kerosene sales fell 26. 7 percent in June to 11,000 […]
Sri Lanka Treasuries yields fall
Sept 19, 2012 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the six month yield falling the most by 21 basis points to 12.91 percent, data from the state debt office showed. Earlier in the day the rupee was quoted as strong as 131.30/60 to the US dollar. The debt […]
Sri Lanka stocks close one percent lower
Sept 19, 2012 (LBO – Sri Lanka stocks extended losses closing 1.04 percent lower Wednesday, as investors took profits from steep recent gains, while a newly listed finance company stock hit a new high, brokers said. Many other stocks however lost ground for the second day as investors took profits after recent steep gains. Abans […]
Bank Rating
Sept 20, 2012 (LBO) – RAM Ratings has confirmed an ‘AAA’ long term and ‘P1’ short term rating of Sri Lanka’s Standard Chartered Bank branch, with a stable outlook. The full statement is reproduced below: RAM Ratings Lanka reaffirms AAA/P1 rating to Standard Chartered Bank-Sri Lanka branch RAM Ratings Lanka has reaffirmed the respective long- […]
‘s Janashakthi Insurance targets 15-pct top line growth
Sept 19, 2012 (LBO) – Sri Lanka’s Janashakthi Insurance, which marks 18 years of operations in September, is expecting revenues to grow 15 percent to 8. 0 billion rupees in 2012, managing director Prakash Schaffter said. In the six months to June, gross written premium grew 14 percent to 3. 8 billion rupees. The composite […]
Sri Lanka raids fake ICC T20 cricket clothing stores
COLOMBO, Sept 19, 2012 (AFP) – Sri Lanka’s police raided a factory turning out counterfeit ICC World Twenty20 T-shirts and seized stocks of spurious merchandise, a senior officer said Wednesday. Deputy Inspector-General Anura Senanayake said they carried out the crackdown on fake World Twenty20 merchandise following a complaint from the International Cricket Council (ICC) over […]
Sri Lanka pushes up food prices to increase farmer profits
Sept 19, 2012 (LBO) – Sri Lanka has pushed up food prices of the people to provide greater profits to the farming lobby, while another tax on canned fish has also been raised, a notice published by the finance ministry said. The finance ministry said a tax on potatoes has been raised by 30 rupees […]
Sri Lanka stocks down 0.98 pct
Sept 18, 2012 (LBO) – Sri Lanka stocks closed down 0.98 percent Tuesday, taking a breather from steady gains made over several days. The benchmark Colombo All Share Price Index dropped 58.28 points to close at 5,9110.81 down 0.98 percent and the S&P SL 20 index closed down 1.03 percent at 3,177.73 points up 32.97 […]
Sri Lanka destination promotion during Twenty20 cricket series
Sept 18, 2012 (LBO) – Sri Lanka’s tourism promotion office said it will promote the Indian Ocean Island during a cricket series in a deal struck with the governing body of the popular fast version of the sport watched by millions of fans around the world. Sri Lanka Tourism Promotion Bureau will be the official […]