Category:
Sri Lanka short term Treasuries yields fall
June 06, 2012 (LBO) – Sri Lanka’s short term Treasury bill yields fell as much as 15 basis points at Wednesday’s auction though one year yields edged up slightly, data from the state debt office showed. Before the advent of paper money and central banking, rulers debased money by mixing precious metals with cheaper metals […]
Sri Lankan stocks fall 2.8-pct
June 5, 2012 (LBO) – Sri Lankan share prices fell nearly three-percent on Tuesday, as the new trading restrictions for large blocks of shares came into effect, brokers said. The benchmark All Share Price Index dropped 2.79 percent or 136.58 points to end at 4,748.60, while the liquid Milanka Price Index fell 3.12 percent or […]
Sri Lanka CIC Holdings to invest US$14mn in expansion
June 05, 2012 (LBO) – Sri Lanka’s CIC Holdings PLC, with investments from agriculture to paints, plans to invest over 14 million dollars in the coming months, to expand dairy, poultry and healthcare business, an official said. The dairy segment, which includes fresh milk production to yoghurts, will see a 6. 5 million dollar investment […]
Mobile Trends
June 05, 2012 (LBO) – Mobile phone makers have shipped over two million units to Sri Lanka with a market value of 22. 4 billion rupees in 2011 with Nokia having a 46 percent share, a market research firm based in India has said. CyberMedia Research (CMR), a computer and electronic market research firm said […]
Vehicle Moves
June 04, 2012 (LBO) – Sri Lanka’s state run ports agency said it was eying more international vehicles transshipment business with a new port in Hambantota to start berthing roll-on roll-off car carriers from the first week of June. On June 05, the vessel N4K Ericia will arrive from Japan with 15 vehicles for transshipment […]
Sri Lanka to have India trade show in August
June 04, 2012 (LBO) – An ‘India Show’ will be held in Colombo from August 3, coinciding with a visit bay Indian minister of commerce and industry Anand Sharma to the island to boost trade and investment amid currency trouble in both countries. The Indian High Commission (embassy) said more than 100 Indian firms are […]
Sri Lanka calls for investments in import substitution
June 04, 2012 (LBO) – Sri Lanka’s finance ministry has called businesses to invest more in import substitution businesses, saying hundreds of millions of dollars are being spent to bring such goods from foreign countries. The finance ministry in its annual report said there was a “continued reliance” on importing food, pharmaceuticals, dairy products, textile, […]
Ship Arrest
June 03, 2012 (LBO) – The fate of an ageing ship owned by Sri Lanka’s state-run Ceylon Shipping Corporation will be decided by a court in Durban, following its arrest by maritime authorities in South Africa, a media report said. The newspaper said ITF officials alleged that there were questions about the safety and seaworthiness […]
Sri Lanka airport agency to call proposals for BOT hotel: report
June 03, 2012 (LBO) – Sri Lanka is to call proposals for a luxury hotel near the island’s Bandaranaike International Airport, north of the capital Colombo, to be constructed on a build-operate-transfer (BOT) basis, a media report said. The airport agency is scrambling to expand capacity at Katunayake after aircraft and passenger movements zoomed following […]
Sri Lanka expropriated factories to new investors
June 03, 2012 (LBO) – Sri Lanka has given a series of defunct factories which were expropriated from foreign and local investors in November last year to new investors, with compensation also promised, a finance ministry report said. The finance ministry’s annual report said Heath Food Products (Pvt) Ltd has been given to a firm […]
Diverse Gains
June 02, 2012 (LBO) – Sri Lanka’s LOLC group, which has interest ranging from financial services, property, leisure and plantations, posted net profits in the March 2012 quarter rose 232 percent to 1. 99 billion rupees, helped by strong other income and fair value gains. Leisure made 2.3 billion rupees helped by 2.8 billion rupees […]
Broader Horizon
June 02, 2012 (LBO) – Sri Lanka Financial Services Bureau, an interbank connectivity service provider, is scouting for telecommunication opportunities in South Asian banks, a company official said. “We did a testing to provide offshore connectivity with a local bank branch in Bangladesh and it was successful,” Rajaratne said. “Sri Lanka has some of the […]