Category:
Sri Lanka state budget carrier shows fat margins
June 25, 2012 (LBO) – Sri Lanka’s state-run budget carrier Mihin Lanka, has made profits of 2. 0 billion rupees before tax, on revenues of 4,576 million rupees in the nine months to December 2011 according to a finance ministry report. Mihin Lanka’s long term liabilities fell to 414 million rupees by December from 2,802 […]
Seven vie to own a Sri Lanka Cricket premier league franchise
June 25, 2012 (LBO) – Sri Lanka Cricket has received seven bids, each worth around 4.3 million dollars, to manage a franchise for the country’s first Twenty20 premier league tournament, officials said. The governing body said 17 parties picked up bidding documents, but only seven bids were submitted when the deadline closed on Monday. I […]
Sri Lanka missing the bus again?
June 25, 2012 (LBO) – If Sri Lanka is to achieve transformative, inclusive growth, it needs to have 7 percent plus growth for several consecutive years. It is well recognized by knowledgeable people, including key decision makers within government, that this would require around one billion dollars in new investment every year. This quantum cannot […]
Sri Lanka energy sector eyed by US firms: envoy
June 25, 2012 (LBO) – Sri Lanka’s energy sector is a key area of interest for US companies scouting for investment opportunities after the end of a three decades war, US ambassador to Colombo Patricia Butenis said. “We’ve seen a lot of interest from American energy companies interested in help building oil refineries and developing […]
Sri Lanka budget off track in first quarter 2012
June 25, 2012 (LBO) – Sri Lanka’s budget has gone off track in the first quarter of 2012, with current spending far outpacing tax revenues, leaving a yawning revenue deficit for the three months that is bigger than the gap for the whole of last year. Current spending by Sri Lanka’s rulers rose 24.2 percent […]
Sri Lanka gets US$2.5bn dollars in China financing
June 24, 2012 (LBO) – Sri Lanka has notched up 2.53 billion US dollars in funding from China, since 2007 and 1,205 billion US dollars already disbursed into roads, power, ports and airports, a finance ministry report said. Sri Lanka’s Ceylon Electricity Board built its first 300 MegaWatt coal plant with Chinese financing and the […]
Sri Lanka tourism receipts up 25-pct to May
June 23, 2012 (LBO) – Sri Lanka has earned 399. 3 million US dollars from tourism in the first five months of 2012, up 25. 5 percent from the 318.1 million US dollars earned a year earlier, official data showed. Tourist arrivals rose 18.2 percent to 387.622 in the same period. Sri Lanka’s tourist sector […]
Freedom Concerns
June 23, 2012 (LBO) – Friday Forum, a Sri Lankan citizens group has expressed concern over further deterioration of rule of law and religious freedom three years after a 30-year civil war ended. “Three years after the end of the war, we are deeply concerned about the continuing violent political culture, the deterioration of our […]
Sri Lanka newspaper editor ouster worrying: media watchdogs
June 23, 2012 (LBO) – Sri Lankan and international media freedom organizations had expressed expressed concern over the removal of an editor of Ceylon Today, a Sri Lankan broadsheet, and said it sought to find out the reasons. œThe dismissal of Lalith Allahakkoon by Ceylon Today is worrying, Reporters without Boraders a Paris based press […]
Sri Lanka’s battered currency might see some respite: report
June 22, 2012 (LBO) – Sri Lanka’s currency is expected to firm up later this year, while treasury yields could creep up on fiscal slippages, a report said, as the central bank looks for ways to tighten monetary policy. The Sri Lankan rupee has fallen by some 17 percent against the US dollar since the […]
Sri Lankan stocks down 0.05 percent
June 22, 2012 (LBO) – Sri Lankan stocks dipped 0.05 percent on Friday, despite big ticket deals in John Keells Holdings, Commercial Bank, Seylan Bank and Central Finance, brokers said. Central Finance PLC, one of the country’s oldest finance companies, fell 80 cents to 135.00 rupees on trades of 592,959 shares. A large parcel of […]
Next Wave
June 22, 2012 (LBO) – Sri Lanka’s banks have to be ready to finance infrastructure when the state is expected to woo private capital into toll roads and ports in the next few years, an investment banker said. Several foreign firms have made proposals. The government is already tapping commercial banks for infrastructure finance through […]