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Sri Lanka stocks up 0.8-pct
June 08, 2012 (LBO) – Sri Lanka stocks closed up 0.8 percent Friday boosted by selected buying in large cap companies which are beginning to trade at attractive valuations, recovering some recent losses, brokers said. The benchmark Colombo All Share Index rose 40 points (0.86 percent) to 4,798.7 and the Milanka Index of liquid stocks […]
Sri Lanka luxury hotel rides internet market
June 8, 2012 (LBO) – Sri Lanka’s The Fortress Resort and Spa, a luxury hotel, said it is making a strong push into internet marketing, striking partnership with online travel agencies, with global internet bookings now overtaking those from traditional agents. Chief executive Sumith Adjihetty said the hotel has struck deals with online travel agencies […]
Sri Lanka Janashakthi in bancassurance deal
June 08, 2012 (LBO) – Sri Lanka’s Janashakthi Insurance Plc, has inked a deal with Commercial Bank of Ceylon to sell insurance products, to its customers. “This strategic tie-up will enable Commercial Bank’s retail and corporate clients access to Janashakthi policies across all Commercial Bank branches,” Janashakthi said in a statement. Commercial Bank has 218 […]
Sri Lanka industrialists forging ahead amid uncertainty
June 8, 2012 (LBO) – Sri Lanka’s see sawing policy ranging from labour, exchange rate, taxation and interest rates are challenging manufacturers, who are also finding ways to remain competitive in the export market, officials said. “We need policy consistency from the government,” Sunil Wijesinha, chairman of Dankotuwa Porcelain, a tableware maker said, referring to […]
‘s 2012 foreign investment target to dip to $1.7 bn: report
June 08, 2012 (LBO) – Sri Lanka’s main investment promotion board is targeting 1.7 billion dollars of investments this year, lower than 2.0 billion dollars projected by the central bank, a report showed. The Indian Ocean Island attracted a record 1.0 billion dollars in investments last year, mainly from new hotel constructions, Board of Investment’s […]
Sri Lankan stocks up 0.42 percent
June 07, 2012 (LBO) – Sri Lankan stock prices rose marginally on Thursday, on selected buying across key blue chip counters, brokers said. The All Share Price Index rose 0.42 percent or 20.23 points to 4,757.98, while the liquid Milanka Price Index gained 25. 09 points or 0.59 percent to close at 4,223.35, according to […]
Investment Wave
June 07, 2012 (LBO) – Sri Lanka hopes to attract five billion dollars in foreign direct investments from the ports sector by 2014, which includes a project to build a formula one track on reclaimed land, a report said. Expanding Investor Mix Wickrama said foreign investors should also look at Sri Lanka, for its close […]
Slowing Journey
June 07, 2012 (LBO) – Sri Lanka’s motor car registrations fell 16.1 percent in the first quarter of 2012 to 12,496, with a steeper 23.3 percent fall to 4,246 in the month of March, official data show. Interest rates on leases, which are used to buy cars, had gone up steadily since the last quarter […]
Tele Trend
June 07, 2012 (LBO) – Sri Lanka’s mobile subscribers grew in single digits in the first quarter of 2012 from a year earlier and wireless fixed access users dropped from a quarter earlier, two years after telephones in use first exceeded the population. Wireline use picked up after Sri Lanka Telecom started to promote broadband. […]
Sri Lanka biodiversity loss linked to exports to rich countries
The developed world’s insatiable appetite for products like coffee and timber is threatening the survival of one in three vulnerable animal species in poor countries, according to an Australian study. The study showed that in countries like Madagascar, Papua New Guinea, Sri Lanka and Honduras, 50 to 60 percent of biodiversity loss was linked to […]
Sri Lankan stocks dip 0.22 percent
June 06, 2012 (LBO) – Sri Lankan share prices slipped 0.22 percent on Wednesday, as investors cherry-picked selected counters, brokers said. The broader All Share Price Index fell 10.85 points to close at 4,737.75, while the more liquid Milanka Price Index dipped 0.22 percent or 9.54 points to end at 4,198.26, according to Colombo Stock […]
Full Ahead
June 6, 2012 (LBO) – Vehicle transshipment from Sri Lanka is getting underway, with Asia’s second largest automaking group starting to use a new port in the south of the island, where up to four vessels are expected to call each month. On June 17, another Hyundai Glovis car carrier, ‘Asian Legend’ will come to […]