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Sri Lanka expands diplomatic relations in Africa
July 05, 2012 (LBO) – Sri Lanka will start diplomatic relations with 15 African countries, cabinet spokesman Keheliya Rambukwella said. Diplomatic relations will be established with the Islamic Republic of Mauritania, Republic of Malawi, Burkina Faso, Republic of Chad, Republic of Djibouti, Central African Republic, Gabonese Republic, Republic of Cameroon, Republic of Cote d’lvoire, Republic […]
Sri Lankan stocks slip 0.44 percent
July 05, 2012 (LBO) – Sri Lankan shares ended 0.44 percent lower on Thursday, on volumes of 25.7 million shares, with turnover driven by Malaysia’s Dialog Axiata Plc, brokers said. Commercial Bank, one of the country’s most profitable lender, saw its non-voting stock rise 40 cents to 74.00 rupees on 366,265 shares. Elsewhere, Lanka Walltiles […]
Merchant Rating
July 05, 2012 (LBO) – RAM Ratings Lanka has confirmed an ‘AA-‘ domestic long term rating of Merchant Bank of Sri Lanka and ‘P1’ short term rating of the company and a proposed billion rupee commercial paper. The full statement RAM Ratings Lanka reaffirms MBSL’s ratings at AA-/P1 RAM Ratings Lanka has reaffirmed Merchant Bank […]
Sky Data
July 05, 2012 (LBO) –Sri Lankan firms engaging in large scale data operations could switch to storing information on remote centres over the internet, that could trim costs by up to 70 percent, IT officials said.
Sri Lanka power users asked to conserve energy
July 05, 2012 (LBO) – Sri Lanka’s power users should cut energy use by 10 percent to help avoid power cuts until more rain comes in the inter monsoonal period, power minister Champika Ranawaka said. “We will keep providing power. But if energy is conserved by another 5 percent, it will make it easier for […]
Sri Lanka expropriated sugar firms begin to hit tax payers
July 05, 2012 (LBO) – Two sugar mills expropriated by the state last year has begun to burden ordinary citizens with the finance ministry channeling 557 million rupees from taxes extracted from the people to the firms. A mid-year fiscal report to parliament revealed that 550 million rupees had been given to cover day to […]
” sovereign rating remains confirmed
July 04, 2012 (LBO) – Fitch Ratings said Sri Lanka’s sovereign rating remains confirmed and re-issuing a May 04, statement with a disclosure. Full statement Fitch Affirms Sri Lanka at ‘BB-‘; Outlook Stable Fitch Ratings-Hong Kong-04 July 2012: This announcement amends the version published on 4 May 2012 to include the disclosure that The Central […]
Sri Lanka Treasuries yields up
July 04, 2012 (LBO) – Sri Lanka’s Treasuries yields rose across the board on Wednesday, six-month yields rising the most by 16 basis points, state debt office said. Three-month treasuries were up eight basis points to 11. 20 percent, six month paper rose to 12.77 percent, while one-year maturities gained 10 basis points to 12. […]
Sri Lankan stocks down 0.12%
July 04, 2012 (LBO) – Sri Lankan share prices slipped into the red on Wednesday, despite a one-off trade in Nestle Lanka Plc, brokers said. The broader All Share Price Index dipped 6.35 points or 0.13 percent to 4,946.58, the liquid Milanka Price Index slipped 31.11 points or 0.71 percent to 4,373.05, and the S&P […]
Lessons Learnt
July 04, 2012 (LBO) – Sri Lanka should implement several key measures contained in a report by a commission which studied lessons to be learnt from a recent civil war, some of which can be done without delay, a civil organization of professionals has said. Sri Lanka’s Organization of Professional Association, a civil society organization […]
Fast Trades
July 05, 2012 (LBO) – South Africa’s Johannesburg Stock Exchange (JSE) has started to use trading software by Sri Lanka based MillenniumIT, a unit of the London Stock Exchange group from July 02. The software is running live in 14 installations excluding JSE, the company said. The trading engine of the stock exchange has also […]
Sri Lanka to build US$3bn tourism city with Singapore firm: BOI
July 04, 2012 (LBO) – Sri Lanka’s state investment promotion agency said it had inked a deal with a Singapore led consortium to build a 3 billion US dollar tourism city in Katana, north of the capital Colombo. Earlier reports had said that Sun City, a South Africa based firm will build an 800 million […]