Category:
Sri Lanka Treasuries yields up
Aug 22, 2012 (LBO) – Sri Lanka’s 12-month Treasuries yields rose 05 basis points to 13. 27 percent at Wednesday’s auction, while the 3-month rate was flat at 11.36 percent, the state debt office said. Excess liquidity in money market, which came from unsterilized foreign exchange purchases in the last week of July dried up […]
Sri Lanka money market liquidity dries up
Aug 21, 2012 (LBO) – Excess liquidity in Sri Lanka’s money markets which came from a unsterilized purchase of foreign exchange from a sovereign bond has largely dried up, tightening the monetary system. On Aug 21, excess liquidity in the banking system fell to 1. 9 billion rupees from 12.9 billion rupees on Aug 14, […]
Sri Lanka gives nod to USD1.59bn worth hotel projects
Aug 22, 2012 (LBO) – Sri Lanka has approved 129 projects involving the building of 9,364 hotel rooms up to July 2012, deputy economic development minister Lakshman Abeywardene said. In 2013, revenues of 1,360 million US dollars were expected; in 2014, 1,740 million US dollars; in 2015, 2,120 million US dollars and in 2016, 2,500 […]
Sri Lanka coal plant: Chinese designer says accusations unfair
Aug 22, 2012 (LBO) – Sri Lanka’s Chinese built coal plant which is breaking down repeatedly has been over-used without scheduled maintenance but had still saved billions of rupees to the power utility, its designer has said. Zhao Wenxue, from the Northwest Electric Design Institute which designed the plant said in a statement that most […]
Internet Drive
Aug 21, 2012 (LBO ) – Dubai based Etisalat Sri Lanka unit, the island’s third largest celco says it is pushing mobile broadband in a bid to increase internet penetration in the island though challenges remain for broader use. Mobile broadband is one of the fastest growing sectors in telecoms in Sri Lanka where fixed […]
Akashi to push reconciliation, assess post war development
Aug 21, 2012 (LBO) – Japan’s special envoy to Sri Lanka Yasushi Akashi will arrive in the Island Tuesday on a five day visit to assess post war developments, the Japanese embassy in Colombo said. Sri Lanka faces a periodic review at the UN Human Rights Council in Geneva this November where the island’s human […]
‘s Cargills (Ceylon) net down 24-pct
Aug 20, 2012 (LBO) – Profits of Sri Lanka’s Cargills (Ceylon) Plc, which interests in retailing and fast moving consumer goods fell 24 percent to 245 million rupees, as higher interest costs bit into the bottom line, interim accounts showed. The group reported earnings of 1.10 rupees for the quarter. Revenues rose 25 percent to […]
” rating confirmed
Aug 20, 2012 (LBO) – Fitch Ratings has confirmed an ‘AAA(lka)’ rating of Sri Lanka’s John Keells Holdings, a diversified group which has interests in transport, leisure, consumer foods and financial services, with a stable outlook. “The affirmation reflects the continued strong dividend income from JKH’s core investments and its subsequent low financial leverage,” Fitch […]
Sri Lanka Vietnam travel has strong potential: officials
Aug 20, 2012 HANOI, Vietnam (LBO) – Tourism between Sri Lanka and Vietnam which is just beginning has a strong potential to grow in the future, officials said during a familiarization tour of the county by travel agents of the Indian Ocean Island. Senior representatives of 15 travel agents from Sri Lanka were on a […]
Sri Lanka receive Japanese grant to revive livelihoods in Vavuniya
Aug 20, 2012 (LBO) – The Japanese government handed over a 11.7 million rupee ($90,000) grant to a community development organization to revive agro-based livelihoods in the conflict affected Vavuniya district, in the north of the island. People™s Livelihood Development Foundation (PLDF) Monday received the 11.7 million rupee grant under Japan™s Grant Assistance for Grassroots […]
Speaking Out
Aug 20, 2012 (LBO) – Sri Lanka Securities Exchange Commission chief Tilak Karunarane has resigned as 17 probes were drawing to a close, a few months after his predecessor also stepped down, a media report said. In a wide ranging interview published in Sri Lanka’s The Nation newspaper, Karunaratne was quoted as saying that he […]
Risky Journey
August 19, 2012 (AFP) UDAPPUWA, Sri Lanka — Two Sri Lankan brothers who joined a wave of asylum seekers heading for Australia were arrested at sea, thrown in jail and face an ongoing court case — but they say they will soon try to reach the country again. The Udappuwa area is ethnically Tamil, but […]