Category:
Sri Lanka exports top US$10bn, record growth in 2011
Feb 27, 2012 (LBO) – Sri Lanka’s exports topped 10 billion US dollars in 2011 growing at above 20 percent, a threshold achieved only on eight occasions since 1951, which exporters have reached for two years running. Sri Lanka’s exporters have shipped 10,486.9 billion US dollars worth goods in 2011, up 22.4 percent from a […]
Sri Lanka commercial forex loan repayments pile up: report
Feb 26, 2012 (LBO) – Sri Lanka is planning to raise 600 million dollars in commercial debt from the local market in 2012 mostly to roll over existing debt a media report said, not counting a 500 million dollar sovereign bond that also falls due this year. Sri Lanka’s balance of payments had come under […]
Adani group to invest $6b in overseas expansion
MUMBAI, (Asia Pulse) – India’s diversified Adani Group said it will invest US$6 billion in overseas expansion by 2015, mainly in Australian mining and related assets. “We will be investing US billion into our overseas assets (spread in Australia and Indonesia) by 2015,” group Chairman Gautam Adani told reporters here after unveiling a new corporate […]
‘s Ceylinco Insurance Dec net up 27-pct
Feb 26, 2012 (LBO) – Sri Lanka’s listed Ceylinco Insurance said it had earned profits of 929 million rupees in the December 2011 quarter up 27 percent from a year earlier partly helped by other income. The firm reported earnings of 35 rupees for the quarter. In the year to December the group reported earnings […]
Tighter Margins
Feb 25, 2012 (LBO) – Profits of Sri Lanka’s Nations Trust Bank rose 54 percent in the December 2011 quarter to 363 million rupees from a year earlier, helped by non-interest income and a lower tax bill, despite narrower interest margins. The bank reported earnings of 1.60 rupee per share for the quarter. In the […]
Sri Lanka Shangri-La investment a message for investors: economic minister
Feb 25, 2012 (LBO) – Starting construction of a 550 million dollar hotel investment by Shangri-La, a Hong Kong based leisure group in Sri Lanka is a signal for other international investors, economic development minister Basil Rajapasksa said. “Not only are they managing the hotel, they are investing the total amount so it’s a very […]
Sri Lanka shares end up 1.0-pct
Feb 24, 2012 (LBO) – Sri Lankan shares closed higher Friday on thin turnover with sharp gains seen in some illiquid stocks, brokers said. The main All Share Price Index closed up 1.07 percent (58.70 points) at 5,566.30, while the more liquid Milanka index fell 0.02 percent (0.82 points) to close at 4,802.78. Turnover fell […]
Sri Lanka Shangri La hotel construction starts
Feb 24, 2012 (LBO) – Hong Kong-based leisure group Shangri-La has begun construction work on its first hotel in Sri Lanka which is experiencing a boom in tourism after the end of its 30-year ethnic war. Basil Rajapaksa, Sri lanka’s minister of economic development, broke ground Friday for work on the 661-room Shangri La Colombo […]
Sri Lanka Singapore hotel investments under Thai brand
Feb 24, 2012 (LBO) – A joint venture between Singaporean and Sri Lankan investors has begun work on a hotel in the island’s capital Colombo with plans for up to six hotels with initial investments of 4. 5 billion rupees. Ground breaking work on the 140-roomed Galle hotel is expected to start in next two […]
Sri Lanka fisheries protection seen needed to maintain market access
Feb 24, 2012 (LBO) – Sri Lanka needs an effective fisheries protection programme to implement the sustainable policies that are required to ensure continued market access for its fish exports, a fisheries and maritime security expert has said. A fully integrated fishing vessel monitoring and fisheries protection programme to fight poaching would also enable Sri […]
Sri Lanka December 2011 exports up 24-pct
Feb 24, 2012 (LBO) – Sri Lanka’s exports in December 2011 went up 24 percent to 906 million US dollars from year ago with sharp gains in textiles and rubber products, the central bank said. Imports during the month went up 34 percent to 1.9 billion dollars with spending on investment goods like transport equipment […]
Tele Trend
Feb 22, 2012 (LBO) – Sri Lanka Telecom Plc group said net profit for the December 2011 quarter fell 17 percent to 1.26 billion rupees from a year earlier, with revenues at core wireline business slowing, interim accounts showed. The group reported earnings of 71 cents per share. In the year to December the group […]