Category:
Sri Lanka mall planned by Singapore retailer
Dec 13, 2011 (LBO) – Singapore-based retailer Mohamed Mustafa will build a 115 million dollar mall and mixed development in Sri Lanka’s capital Colombo, the island’s ministry of economic development said. The mall will be built in the Colombo 15, postal area in Sir Ramanathan Mawatha, a ministry statement said. An agreement was signed with […]
Business Model
Dec 13, 2011 (LBO) – WSO2, a Si Lanka-based provider of ‘ middleware’ that lets information technology applications talk to each other, said it has been rated high in a new industry survey. The company has been cited as a strong performer in the ‘Standalone SOA Management Solutions, Q4, 2011’ report published by an independent […]
Sri Lanka India coal plant seeks debt finance: report
Dec 13, 2011 (LBO) – Sri Lanka’s Trincomalee Power Company, a joint venture between state-run Ceylon Electricity Board and India’s NTPC Ltd, has approached banks for a 385 million US dollar loan, a media report said. Bloomberg newswires, citing an undisclosed source said the 550 million US dollar plant would be financed with 406 million […]
Sri Lanka bond yields up, money steady
Dec 12, 2011 (LBO) – Sri Lanka’s money and forex markets were steady but bond yields were slightly up in a thin market Monday, dealers said. Meanwhile Central Bank data showed that foreign investors have bought into bills over the last week, reversing some sales earlier. The Central Bank raised limits for foreign holdings of […]
Sri Lanka stocks slip 0.5-pct
Dec 12, 2011 (LBO) – Sri Lanka’s stocks slipped 0.5 percent, with illiquid stocks losing further ground in thin trade, but more fundamentally strong stocks saw some support, brokers said. One million shares of Distilleries traded with the stock closing at 149.10 down 90 cents. In forex markets the rupee continued to be defended at […]
Credit Trend
Dec 12, 2011 (LBO) – Loans to business from Sri Lanka’s commercial banks hit a fresh high of 54.50 billion rupees in October 2011 to 1,882 billion rupees while central bank credit to the state also rose amid defence of a dollar peg, official data shows. Credit to business grew 33.4 percent in the 12-month […]
‘s CIC and Dubai firm in indoor plant deal
Dec 12, 2011 (LBO) – Dubai-based S S Lootah International said it had inked a partnership with Sri Lanka’s CIC Agri Business to supply ornamental plants to the UAE and later jointly expand into tissue culture with an eye on markets in Africa. The statement said CIC Agribusiness works with 25,000 rural farmers. “We will […]
Sri Lanka inland attractions draw more tourists: minister
Dec 11, 2011 (LBO) – Sri Lanka’s main historical, and wildlife attractions had begun to draw more visitors, weaning the island away from being mainly a beach tourist destination, deputy economic development minister Lakshman Abeywardene said. The ancient city of Polonnaruwa had drawn 103,335 visitors of 15.7 percent of the total and Anuradhapura 75,917 or […]
‘s President Sang: interview
Dec 10, 2011 (LBO) – Vietnam is a country which left behind a bitter war civil war with foreign involvement to become a fast growing nation and a top destination for global foreign direct investments following its Äổi Má»›i or (renewal) political and market reforms starting from 1986. Vietnam built bridges both internally and externally […]
Sri Lanka draws Indian investors
Dec 10, 2011 (LBO) – Indian companies are keen to invest in post-war Sri Lanka given its growth prospects and are looking for opportunities, officials of Price Waterhouse Coopers India said. “These Indian entrepreneurs are looking at the emerging middle class which was the engine of growth for them in India,” he said. Indian businessmen […]
Sri Lanka forex reserves slip 12-pct in Sept to US$7.0bn
Dec 09, 2011 (LBO) – Sri Lanka’s foreign reserves slipped 11.8 percent to 7,095 million US dollars by end September from a month earlier, amid defence of a soft dollar peg, official data showed. The trade deficit expanded 93.6 percent to 6.8 billion US dollars. The trade gap is driven by income derived from net […]
Sri Lanka stocks end down 0.5-pct
Dec 09, 2011 (LBO) – Sri Lankan stocks closed weaker Friday, sinking below the 6,000 point mark in thin trade with an investor continuing to accumulate shares of Distilleries Company, brokers said. The main All Share Price Index fell 0.51 percent (30.75 points) to 5,996.44, while the more liquid Milanka index fell 0.34 percent (17.85 […]