Category:
Sri Lanka Treasuries flat
Feb 01, 2012 (LBO) – Sri Lanka’s Treasuries yields remained flat across maturities for the sixth week at Wednesday’s auction with 9,751 million rupees of bills being sold, the state debt office said. The 3-month yield edged up one basis point to 8.68 percent with 4.6 billion rupees of bills sold and the 6-month month […]
Sri Lanka shares end down 0.2-pct
Feb 01, 2012 (LBO) – Sri Lankan shares closed weaker Wednesday for the second day after a brief recent rally, with warrants in Environmental Resources Investments which has attracted controversy losing half their value, brokers said. Index heavyweight John Keells Holdings closed at 170 rupees, up 70 cents with 1.2 million shares changing hands. Acme […]
Merger Intention
Feb 01, 2012 (LBO) – Fitch Ratings Lanka has maintained Merchant Credit of Sri Lanka’s (MCSL) ‘BBB(lka)’ national long-term rating on rating watch evolving (RWE), a statement said. MCSL was placed on RWE in May 2011 after Merchant Bank of Sri Lanka’s announcement it got Central Bank approval for a specialised banking license to MBSL […]
Sri Lanka Continental Hotel Dec net up 22-pct
Feb 01, 2012 (LBO) – A boom in tourist arrivals after the end of a war has helped Sri Lanka’s Continental Hotel to increase net profit by 22 percent in the December 2011 quarter, the start of the peak tourism season. The hotel, bought by the Hayleys conglomerate last year, said net profit in the […]
Sri Lanka targets Chinese tourists
Feb 01, 2012 (LBO) – Sri Lanka is targeting 25,000 tourists from China in 2012 with expectations that arrivals will rise to 300,000 in 2016 making it the second largest source of foreign tourists to the country, an official said. When he was 11 year old he had been captured by the imperial Chinese Navy, […]
Kerala tourism promotion in Australia, Middle East
MUMBAI, Feb 1 (Asia Pulse) – Buoyed by an over 11 per cent increase in foreign tourist arrivals in 2011, which was a bad year for the global tourism industry given the bleak economic environment, Kerala is on a marketing blitz to attract more travellers from the Middle East and Down Under. “We plan to […]
SriLankan Airlines hires more cadet pilots
Feb 01, 2012 (LBO) – SriLankan Airlines’ latest batch of cadet pilots were awarded their ‘wings’ when they passed out as Junior First Officers recently at the international airport in Katunayake. “With plans for expanding the fleet size to 30 aircraft by 2015, more recruitment will be initiated to meet growing demand with SriLankan gearing […]
Sri Lanka will not curb imports to maintain peg: CB Governor
Feb 01, 2012 (LBO) – Sri Lanka will not curb imports to stabilize the exchange rate, Central Bank Governor Nivard Cabraal said as a peg with the US dollar came under pressure from strong credit growth. “There has been an exponential growth in imports such as vehicles and gold and this is a reflection of […]
Sri Lanka shares end down 1.1-pct
Jan 31, 2012 (LBO) – Sri Lankan shares closed weaker Tuesday after rising sharply at the opening, as profit-taking came in with turnover also slumping, , brokers said. The main All Share Price Index closed down 1.12 percent (64.22 points) at 5,691.34, while the more liquid Milanka index fell 1.02 percent (50.94 points) to close […]
Scanned Access
Jan 31, 2012 (LBO) – Sri Lanka Ports Authority plans to install bar code readers at Colombo port to speed up the movement of vehicles moving containers, a senior official said. Truckers have complained of lengthy waiting times of sometimes 6-8 hours to get in or out of the port. The existing gate pass system […]
Sri Lanka war torn irrigation works get IFAD boost
Jan 31, 2012 (LBO) – The International Fund for Agricultural Development (IFAD) said it is giving a 22 million dollar loan to Sri Lanka to rebuilt irrigation works, which will help 7,000 farmer families in former war-torn areas. The money will be used to improve downstream irrigation infrastructure of the Iranamadu reservoir in Kilinocchi in […]
Sri Lanka lifts ban on tea estates harvesting timber
Jan 31, 2012 (LBO) – A Sri Lanka state decision to allow commercial timber to be harvested will increase the supply of fuel wood for use in tea driers helping cut production costs, an industry body representing private managers said. “We are confident this decision by the government will benefit not only the estate sector […]