Category:
Watchdog
Aug 28, 2012 (LBO) – Nalaka Godahewa, former chairman of Sri Lanka’s tourism development agency has been appointed as the chairman of the Securities and Exchange Commission, a state official said. The SEC chairman before Karunarantne, Indrani Sugathadasa, a retired senior public servant also resigned saying she was upholding her principles. Sri Lanka has had […]
Sri Lanka dairy firm eyes former war zones, exports
Aug 28, 2012 (LBO) – Lanka Milk Foods, a unit of Sri Lanka’s Stassen group said it was eyeing former war zones in the north and east of the country for expansion, while it operated within complex state interventions. LMF’s imported milk business was hit by state price controls and import duties but it also […]
India ups health sector aid to Sri Lanka
Aug 28, 2012 (LBO) – India will build a 200-bed ward complex at Vavuniya hospital in Sri Lanka’s north as a fully grant funded 200 million rupee project, the Indian high commission (embassy) in Colombo said. “The Project envisages construction of a four-storey ward complex to improve the existing infrastructure of the Hospital to meet […]
Sri Lanka stocks up 1.2-pct, rupee weaker
Aug 27, 2012 (LBO) – Sri Lanka’s stocks closed up 1.2 percent in a broad based rally that saw index heavy and several small caps making gains, brokers said, while the rupee traded weaker, dealers said. The Colombo All Share Index closed up 60.2 points at 5,073.10, and the S&PSL20 closed up 0.88 percent at […]
Sri Lanka offers islets, beaches, wetland on 99-year leases for tourism
Aug 27, 2012 (LBO) – Sri Lanka’s tourist development agency has offered islets, hundreds of acres of land bordering beaches, a wildlife reserve and a wetland on 99-year leases to build tourism related projects. Eight islets in Kalpitiya off the western coast of Sri Lanka 150 kilometres north of the capital Colombo are being offered […]
Health Injection
Aug 27, 2012 (LBO) – Sri Lanka’s Asiri hospital group will get a 2. 26 billion rupee cash injection from Actis, a private equity group, on top of a 604 million rupees last week, taking the total to 2. 87 billion rupees (21 million US dollars) so far. Last week Actis invested 604 million rupees […]
Medical Service
Aug 27, 2012 (LBO) – Denmark’s Falck, an emergency medical services company has taken a 50 percent stake in a Sri Lankan firm Med1 (Pvt) Ltd, and will invest in a 24-hour ambulance service, Sri Lanka’s Board of Investment said. The BOI said visitors to the island “whether tourists, entrepreneurs or investors will be reassured […]
Stock Woes
COLOMBO, Aug 26, 2012 (AFP) – Sri Lanka’s stock market, once a darling of investors, has seen its value plummet 26 percent in the past year and now faces a crisis of confidence after its regulator quit in a storm of controversy. The tiny bourse became the world’s top gainer soon after the country ended […]
Sri Lanka exporter warns against tea nationalism
Aug 27, 2012 (LBO) – An exporter of branded teas that has catered to emerging global consumer needs has warned that nationalism and protectionism in tea was losing Sri Lanka an opportunity to play a bigger role in the global tea industry. He said demands to ban such an export hub will require Sri Lankans […]
Sri Lanka Navy arrests over 1,000 Australia bound migrants over three months
Aug 26, 2012 (LBO) – Sri Lanka’s Navy said it arrested 98 boat people in two multi-day fishing vessels who were bound for Australia, taking the total arrested or rescued to 1,076 in the past three months, according to data released so far. In July the Navy had rescued or intercepted 542 people including 08 […]
Sri Lanka forex reserves US$7.1bn by July 2012
Aug 25, 2012 (LBO) – Sri Lanka’s foreign reserves had risen to 7.1 billion US dollars by end July 2012 from 6,045 million US dollars in June, helped by a loan from the International Monetary Fund and other inflows, the Central Bank said. When remittances, tourism receipts and foreign borrowings are spent by those that […]
Sri Lanka stocks down 0.50 pct
Aug 24, 2012 (LBO) – Sri Lanka stocks closed down 0.50 percent Friday with large cap stocks trading at lower levels, brokers said. The All Share Price Index dropped 25.31 points to close at 5,012.84 down 0.50 percent. The Milanka Index of more liquid stocks fell sharply by 56.29 points to close at 4,636.53 down […]