Category:
Sri Lanka tea farmers oppose imports
May 17, 2012 (LBO) – Sri Lanka’s large tea growers have opposed a proposal by major exporters to import teas for re-export to make the island a global hub for blending and packing to retail markets. The Planters’ Association of Ceylon (PA), an industry body of large tea farms producing 30 percent of the tea […]
Retail Diagnostics
May 17, 2012 (LBO) – Sri Lanka’s Lanka Hospital Corporation said it will set up a diagnostic laboratory network with India’s Fortis Healthcare in which it will invest 831 million rupees over the next two years. Lanka Hospitals, a unit of state-run Sri Lanka Insurance, will float a fully owned unit to operate the labs. […]
’s cabinet clear release of ex-army chief
May 17, 2012 (LBO) – Sri Lanka’s cabinet of ministers on Thursday agreed to free jailed former army chief Sarath Fonseka, President Mahinda Rajapakse’s aide said, paving the way for the retired four star general’s imminent release. Fonseka lead troops in a spectacular military campaign against the Tamil Tiger rebels that ended the island’s decades […]
Sri Lanka Ceylinco Insurance March net down 23-pct
May 17, 2012 (LBO) – Profits at Sri Lanka’s Ceylinco Insurance in the March 2012 quarter fell 23 percent to 220 million rupees, from a year earlier, though premium income rose 13 percent to 5. 5 billion rupees, interim accounts showed. The firm reported earnings of 8.35 rupees for the quarter. The stock traded at […]
Overseas Sri Lankan status to precede dual citizenship: minister
May 17, 2012 (LBO) – Sri Lanka will introduce an ‘Overseas Sri Lankan’ status for people who have renounced citizenship and their children which will be followed by dual citizenship later, minister Lakshman Abeywardene said. ‘Overseas Sri Lankans’ would be able to come and reside in the country dual citizenship will be given after a […]
Sri Lanka short term Treasuries yields drop
May 16, 2012 (LBO) – Sri Lanka’s three month Treasuries yields dropped, though longer tenures moved up with record volumes of bills being sold by open auction, data released by the state office showed. The 3-month yield dropped 20 basis points to 11. 99 basis points, the 6-month yield rose 10 basis points to 12. […]
Sri Lankan stocks up 1.71 percent
May 16, 2012 (LBO) – Sri Lankan share prices continued to edge up Wednesday, driven largely by investor interest in Sampath Bank PLC and Asiri Medical Services Limited, brokers said. The benchmark All Share Price Index moved up 1.71 percent or 87.82 points to close at 5,213.68 while the more liquid Milanka Price Index gained […]
Traffic Plan
May 15, 2012 (LBO) – Sri Lanka’s Transport Ministry on Wednesday secured a Japanese grant to draw-up a master transport plan for the Colombo metropolitan region. It will review present conditions, on-going developments and future plans, to identify short and mid-term measures to improve the existing transport system, and in the long term to establish […]
Sailing Forth
May 16, 2012 (LBO) – Sri Lanka’s Colombo Dockyard Plc, a unit of Japan’s Onomichi Dockyard Company said profits in the March 2012 quarter rose 60 percent to 746 million rupees helped by foreign exchange gains. The firm reported earnings of 10. 39 rupees for the quarter. The stock traded at 200 rupees Wednesday, down […]
Doubled
May 16, 2012 (LBO) – Sri Lanka’s state-run Bank of Ceylon, the country’s largest bank said group profits increased 104 percent to 4.4 billion rupees from a year earlier helped by strong foreign exchange earnings. The group provided 49 million rupees for loan losses in the March 2012 quarter compared with a provision reversal of […]
Sri Lanka April tourist arrivals up nine percent
May 16, 2012 (LBO) – Sri Lanka’s tourist arrivals rose 9. 0 percent to 65,591 in April this year, which helped raise the number of holidaymakers for the first four months of 2012 to 330,116, official data showed Wednesday. The Eastern European market expanded 42. 9 percent to 26,980 visitors in April this year, helped […]
Break Even
May 16, 2012 (LBO) – Lanka IOC, a unit of Indian Oil Corporation made profits of 41 million rupees in the March 2012 quarter, recovering from a 111 million rupee loss a year earlier interim accounts showed. Petrol and diesel retail prices were raised in February. The firm reported earnings of 8 cents per share. […]