Category:
Bunker Biz
July 27, 2011 (LBO) – Mc Marine (Pvt) Ltd, a newly incorporated bunkering unit of Sri Lanka’s McLarens shipping group which is planning to cater to ships off the south of the island, has recruited Channa Abeyagunewardena as its chief executive. Sri Lanka started to make greater inroads into bunkering after a state monopoly and […]
Sri Lanka stocks recover losses
July 26, 2011 (LBO) – Sri Lankan stocks recouped some losses Tuesday after falling to a seven month low a day earlier, and debutant Browns Investments closed below its initial offer price amid active trading, brokers said. The benchmark All Share Price Index edged up 0.92 percent or 59.24 points to 6,493.58, while the Milanka […]
Rural Rating
July 26, 2011 (LBO) – Fitch Ratings Lanka said it has given Sri Lanka’s Regional Development Bank, an investment grade rating of ‘BBB+(lka)’ with a stable outlook on its state ownership, though the bank was still small to be systemically important. “The rating could be upgraded if the systemic importance of RDB to the government […]
Tele Trends
July 26, 2011 (LBO) – Sri Lanka’s mobile users grew 18. 5 percent in the first quarter of 2011 to 17.8 million, a lower pace than in previous years, but there was strong growth in internet users, official data showed. A category called ‘internet and email’ users which the central bank said included mobile broadband […]
India hikes rates by surprise 50 basis points
MUMBAI, July 26, 2011 (AFP) – India’s central bank hiked interest rates by a higher-than-expected 50 basis points on Tuesday, its 11th increase since March 2010, as it struggles to combat near double-digit inflation. The Reserve Bank of India (RBI) raised its repo rate at which it lends to commercial banks to 8.0 percent and […]
Sri Lanka inflation panic level above 7.0-pct: Treasury secretary
July 26, 2011 (LBO) – Sri Lanka should keep inflation below 7. 0 percent to ensure economic stability Treasury Secretary P B Jayasundera said, as lower levels of inflation may be beyond the capacity of economic policies to deliver. Additional inflation is created by central bank credit, such as liquidity facilities given to banks or […]
Sri Lanka foreign reserves move towards US$8bn
July 26, 2011 (LBO) – Sri Lanka’s foreign reserves would be close to eight billion US dollars after proceeds from a billion dollar sovereign bond comes to the country, Central Bank Governor Nivard Cabraal said. The balance is expected to be disbursed in two tranches after reviews in September and March. By end May Sri […]
Sri Lanka stocks slump 1.5-pct to a 7-month low
July 25, 2011 (LBO) – Sri Lanka stocks slumped 1.5 percent to a seven month low, reaching with the benchmark index falling to levels last seen last on December 23, as the market corrected downwards, brokers said. The benchmark All Share Price Index closed at 6434.34, down 1.57 percent (102.91 points) while the Milanka Index […]
Sri Lanka stocks slump to seven-month low
July 25, 2011 (LBO) – Sri Lanka share prices fell steeply Monday to a seven-month low after a brief rally in the morning to close more than 100 points lower on continued selling pressure, brokers said DFCC Bank closed at 127.50 rupees, down 2.50 with 555,800 shares traded, including a single crossing or off-market private […]
Sri Lanka first half tourism revenues up 50-pct
July 25, 2011 (LBO) – Sri Lanka’s tourism industry has earned 370. 1 million US dollars in revenues in the first half of 2011, up 50.9 percent from a year earlier, amid a strong increase in arrivals, official data showed. Foreign visitors have been flocking to the country since the end of a 30-year war […]
Sri Lanka plans inland fisheries expansion
July 25, 2011 (LBO) – Sri Lanka is expecting inland fish production to rise 15 percent to 60,000 tonnes in 2011, and is targeting 90,000 tonnes by 2013 backed by a program to push up production, officials said. Rohana Subasinghe, senior fishery resource officer at the Food and Agriculture Organization said Asia accounted for about […]
Learning Centre
July 25, 2011 (LBO) – Sri Lanka’s Laugfs group has started an educational facility with Australia’s University of Canberra to offer courses on customs, border management, tax and excise administration, officials said. LAUGFS Australia Higher Education Services, a unit of the Laugfs group has tied up up with Centre for Customs and Excise Studies (CCES) […]