Category:
Liner Concentration
Feb 09, 2012 (LBO) – Shipping lines are coming together and concentrating their power to survive a downturn in trade that is causing losses but a recent freight rate hike might not last, Sri Lankan shippers have been told. In 2012, 253 vessels with a total capacity of 1. 4 million TEUs (twenty-foot equivalent container […]
Sri Lanka tea estate lose Rs28mn in Dec quarter
Feb 09, 2012 (LBO) – Sri Lanka’s Bogawantalawa Tea Estates Plc said it lost 28 million rupees in the December 2011 quarter from a profit of 69 million rupees a year earlier as margins turned negative. The firm reported a loss of 34 cents for the quarter. In the nine months to December it lost […]
Movie Moves
Feb 09, 2012 (LBO) – Sri Lanka could attract Vietnam’s growing film industry to shoot on location, as the two countries shared many similarities, Hanoi’s envoy to the island Ton Sinh Thanh said. “Vietnam’s film industry is growing and Sri Lanka has many beautiful locations,” ambassador Thanh told reporters in Colombo. “At one time films […]
Sri Lanka bond yields edge up, rupee flat
Feb 08, 2012 (LBO) – Sri Lanka’s bond yields were up about 10 basis points Wednesday from the last working day on Monday, with quotes becoming slightly wider and the spot dollar unchanged, dealers said. A 2-year bond maturing on 01.03.14 was quoted around 10.60/70 percent up about 10.50 levels Monday. A 3-year 15.03.15 bond […]
Sri Lanka shares end down 2.1-pct
Feb 08, 2012 (LBO) – Sri Lanka’s stock market slide deepened Wednesday with the main index plunging over 100 points, down for the sixth straight trading session, brokers said. The main All Share Price Index closed down 2.14 percent (119.18 points) at 5,442.25, while the more liquid Milanka index fell 1.75 percent (84.20 points) to […]
Sri Lanka CIC Holdings rated A/P2
Feb 08, 2012 (LBO) – RAM Ratings Lanka has assigned long- and short-term corporate credit ratings of A and P2 to CIC Holdings (CIC) with a stable outlook on the long-term rating. The group™s ratings are supported by the dominant market positions in its key business areas as well as resilient demand for agriculture related […]
Sri Lanka Watawala to invest marketing unit proceeds in tea, oil palm
Mar 08, 2012 (LBO) – Sri Lanka’s Watalawa Plantations Plc said cash from the sale of a marketing arm will be used to expand oil palm, boost efficiencies in its tea estates and cut debt, as interest rates continued to rise. Shortly before the budget, through an ad hominen law the state took back land […]
SriLankan Airlines goes for early check-in
Feb 08, 2012 (LBO) – SriLankan Airlines has called on all economy class passengers to check in an hour before scheduled time of departure in a move to ease congestion at the airport. “All SriLankan Airlines economy class check in counters will close 60 minutes before scheduled time of departure from February 01, 2012,” a […]
Sri Lanka tea market in Middle East seen threatened
Feb 08, 2012 (LBO) – Sri Lanka might be in danger of losing part of its market for tea in the Middle East, one of its biggest markets, as younger consumers are shifting away from the beverage. Hilmy Cader, chief executive of MTI Consulting, said his international management consultancy based in Bahrain had observed a […]
Sea Transfers
Feb 07, 2012 (LBO) – Global ship agency and offshore marine service provider GAC has set up a supply base in Galle to support ship-to-ship (STS) services, a statement said. The new service complements existing services such as ship agency, bunker supplies and the ship supply service. GAC Sri Lanka uses a fleet of ten […]
Maldives president resigns
Feb 07, 2012 (LBO) – Maldivian President Mohamed Nasheed has resigned, news reports said. Hundreds of police started demonstrating early Tuesday in the capital, Male, after officials ordered them to withdraw protection for government and opposition supporters protesting close to each other, the AP news agency said. The withdrawal resulted in a clash that injured […]
Sri Lanka Treasuries yields up
Feb 06, 2012 (LBO) – Sri Lanka’s Treasuries yields increased more than 50 basis points across maturities following at Monday’s auction held two days earlier due a holiday in the week, results published by the state debt office showed. The 3-month yield increased 56 basis points to 9. 24 percent, the 6-month yield rose 55 […]