Category:
Sri Lanka tea production down in May
June 20, 2012 (LBO) – Sri Lanka’s tea production fell 8. 4 percent to 30.8 million kilograms in May 2012 from a year earlier, the state tea promotion office said as the country was hit by dry weather. High grown tea fell to 7.36 million kilos from 9.0 kilos, mediums fell to 5.58 million kilos […]
’s Faithful
June 20, 2012 (LBO) – Sri Lanka’s amateur radio operators have renewed their call to be included in communication work during national disasters, after the defence authorities relaxed rules on clearing equipment. “When everything goes down, short wave remains alive,” an enthusiastic Goonetilleke said. Their valuable role was acknowledged by the late Sir Arthur C […]
” apparel plants in former war-zone
June 20, 2012 (LBO) – Sri Lanka’s Timex and Fergasam group, will begin construction of two energy efficient ‘green’ apparel factories in the northeastern Mannar region this month, the state investment promotion agency said. “Sri Lanka has the advantage of having high environmental standards. Already a number of companies that operate under the BOI regime […]
Sri Lanka thermal power generation up
June 20, 2012 (LBO) – Sri Lanka’s thermal power generation had picked up sharply in the first quarter of 2012 with total generation up 8.8 percent from a year earlier while hydro generation fell steeply, official data shows. Total generation rose 8.8 percent to 2,956 GigaWatt hours (millions of units) indicating strong demand in the […]
‘s real estate growth slowed by interest rates, inflation: report
June 20, 2012 (LBO) – Growth in Sri Lanka’s real estate sector may slow in the coming months, as rising interest rates and higher construction costs begins to bite, a new report has forecasted. Sri Lanka is in the midst of a post-war property boom, with key real estate drivers centered around the leisure and […]
Sri Lanka money markets reach policy rates
June 19, 2012 (LBO) – Sri Lanka’s money markets were tight Tuesday with gilt backed repos quoted at 9. 50/70 percent around the policy interest rate of 9.75 percent, for over a week, two months after the key rate was raised, official data showed. High short term rates discourage the holding of dollars by exporters […]
Sri Lanka stocks up 1.2-pct
June 19, 2012 (LBO) – Sri Lanka’s stocks closed up 1.2 percent Tuesday recovering lost ground with sharp gains in with hotel firms Citrus Leisure and Kalpitiya Beach showing the most gains, brokers said. The Colombo All Share Index rose 61 points to close at 5,059. 29 points with the Milanka Index of liquid stocks […]
Banking Risks
June 19, 2012 (LBO) – Sri Lanka’s banking industry faces ‘very high’ economic and credit risk and the industry itself faces “very high risk” in its institutional framework amid regulatory conflicts, a rating agency has said. Standard & Poor’s, a rating agency gave Sri Lanka a score of ‘8’ on a scale where the highest […]
Finance Awards
June 19, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon and Bank of America Merrill Lynch had clinched awards for the best bank and best foreign investment bank for Sri Lanka given by Finance Asia, a financial magazine. It also did a large equity investment banking deal arranging the sale of a stake worth […]
SriLankan Airlines raises US$175mn from Islamic loan
June 19, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines had raised 175 million US dollars through an Islamic loan from banks in the United Arab Emirates chairman Nishantha Wickramasinghe said. Mashreq Bank lead managed the loan, with four other UAE based banks chipping in, which will give four year financing for Sri Lankan Airlines […]
Sri Lanka allows private helicopter operations in Colombo
May 22, 2012 (LBO) – Sri Lanka’s Deccan Aviation said it had established a privately run helipad in Colombo city after authorities relaxed rules that prevented civil aircraft approaching within 10 miles of the capital. Deccan Aviation said Sri Lanka’s Civil Aviation Authority and the Ministry of Defence have allowed private operators to establish eight […]
ICC suspends Pakistani skipper Misbah from Galle Test
June 19, 2012 (LBO) – Pakistani captain Misbah-ul-Haq will miss the first Test against Sri Lanka in Galle, after his side was found guilty of bowling less overs, the International Cricket Council said. In March, Pakistan was also fined for a slow over-rate in the opening ODI of the Asia Cup against Bangladesh in Dhaka. […]