Category:
Maritime Map
July 15, 2012 (LBO) – Sri Lanka is at the centre of the “next great shift” in the shipping and ship building industry that is underway, the head of the world’s largest classification society said. The island’s location, big port construction projects and plans to expand its hub role, makes it well-placed to emerge as […]
Rubber futures falls to 4-month low: report
May 16, 2012 (LBO) – October rubber futures in Tokyo fell to a 4-month low of 265 yen a kilogram (3,317 dollars a tonne) before settling at 270. 1 yen on the Tokyo Commodity Exchange, a media report said. Bloomberg newswires said rubber was still up 2. 5 percent in 2012. September futures on the […]
Sri Lankans baptise new fish genus for atheist Dawkins
July 16, 2012 (AFP) – Sri Lankan scientists have identified a new genus of fresh water fish and named it after the evolutionary biologist and renowned atheist Richard Dawkins. Lead researcher Rohan Pethiyagoda said the new genus, named Dawkinsia, comprises nine species that are found only in South Asia and are characterised by long filaments […]
Sri Lanka and India economic ties: time running out: envoy
July 16, 2012 (LBO) – While Sri Lanka was delaying the signing of an economic partnership deal, despite India being prepared to offer concessions, similar deals were being rapidly wrapped up with other countries and regions, India’s envoy to Colombo said. Sri Lanka and India worked out a draft agreement for a Comprehensive Economic Partnership […]
Sri Lanka tourist arrivals up 21-pct in June
July 15, 2012 (LBO) – Tourist arrivals to Sri Lanka rose 21.6 percent to 65,245 in June 2012 from a year earlier, with arrivals up to June rising 18.7 percent to 452,867, data from the state tourism promotion office showed. In the first half of 2012, the top generating market was India, with 85,426 up […]
Debate brewing over Sri Lanka tea blending plans
COLOMBO, July 15, 2012 (AFP) – Sri Lanka’s tea industry is deeply divided over plans to boost earnings by importing cheaper leaves for blending and re-export, over fears the changes could water down the “Pure Ceylon” brand Pure Ceylon — using the country’s colonial-era name — is to tea what single malt is to whisky, […]
Sri Lanka suggests single clearance document for regional trade
July 14, 2012 (LBO) – A single document that harmonises different regulations of South Asian countries for clearing cargo would help boost regional trade, Sri Lanka’s external affairs minister Gamini Lakshman Peiris said. Trade among countries of the South Asian region was far below its potential and simplified procedures were needed to increase volumes, he […]
Sri Lanka lowers food taxes, gas price allowed to fall
July 14, 2012 (LBO) – Sri Lanka has cut excessively high taxes on several imported foods improving the food freedoms of the poorest sections of the population and has also allowed cooking gas prices to fall. Sri Lanka was pushed into a balance of payments crisis in 2011 by credit taken to manipulate oil prices […]
‘s central bank kills liquidity in outright bill sales
July 13, 2012 (LBO) – Sri Lanka’s central bank has sold 2. 1 billion rupees of Treasury bills in its portfolio to yield 10.92 percent Friday, in the second such transaction for the week, dealers said. The rupee strengthened to around 133.83/85 levels in late trading, dealers said. Update/recast On July 11, the Central Bank […]
Sri Lanka bond investors can maintain portfolio: Standard Chartered
July 13, 2012 (LBO) – Sri Lankan bonds had a neutral position in a Standard Chartered credit model and investors looking to buy bonds should go for new issues, which were better priced, rather than buy in the secondary market, Standard Chartered Bank said. Sri Lanka’ balance of payments is expected to be in surplus […]
Offshore Support
July 13, 2012 (LBO) – Colombo Dockyard has delivered the first of a series three vessels to support offshore oil and gas fields for Greatship Global Offshore Services of Singapore. The Multipurpose Platform Supply Vessel (MPSV), delivered Wednesday, is designed by Seatech Solutions International (S) of Singapore, and is the latest new build by the […]
Securitization
July 13, 2012 (LBO) – Sri Lanka’s Multi Finance Plc, a registered finance company said it had raised 350 million rupees from the sale of asset-backed securities to fund hire purchase loans. The tenor of the securitization was not mentioned by most vehicle purchase loans in Sri Lanka are for four years. Sri Lanka’s interest […]