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Sri Lanka stocks close up 0.5-pct
July 07, 2011 (LBO) – Sri Lanka stocks closed firmer Thursday with sharp gains in Lanka Orix Finance Company, which began trading, helping propel the benchmark index up by over a hundreds points in early trade, brokers said. The main All Share Price Index closed at 6,918.41, up 0.50 percent (34.35 points) while the more […]
Vehicle Trend
July 07, 2011 (LBO) – Sri Lanka’s vehicle registrations were up 65.2 percent in May 2011 to 41,862 from a year earlier, with total registrations also up 65 percent to 200,415 in the first five months of the year, official data shows. Car registrations rose 10 times to 5,173 in May, motor cycle imports were […]
Finance Education
July 07, 2011 (LBO) – Amana Global, a fully-owned subsidiary of Sri Lanka’s Amana Takaful has signed a deal with Islamic Banking and Finance Institute of Malaysia (IBFIM) to offer training in Islamic finance. At present there is a dearth of professional services available to satisfy the demand, a company statement said. “The move to […]
” north of capital
July 7, 2011 (LBO) – Sri Lanka will build a new ‘tourist city’ in the Western coastal city of Katana north of the capital Colombo, which may draw 1.5 billion US dollars in foreign investments in its first phase alone, a government minister said. Sri Lanka’s tourism development authority has also offered a series of […]
‘s Tata to build S.African auto plant: report
JOHANNESBURG, July 7, 2011 (AFP) – Indian giant Tata will start building an auto assembly plant in South Africa in July for production which is likely to target the local and African market, Business Day reported on Thursday. In May Tata reported a nearly fourfold increase in annual profit, boosted by booming sales and strong […]
‘s rout of Sri Lanka
NOTTINGHAM, July 6, 2011 (AFP) – England captain Alastair Cook’s unbeaten 95 completed his side’s crushing 10-wicket victory over Sri Lanka in the fourth one-day international at Trent Bridge here on Wednesday. England’s win left the five-match series all square at 2-2 ahead of Saturday’s Old Trafford finale. England, chasing a revised target of 171 […]
Petroleum Post
July 07, 2011 (LBO) – Sri Lanka’s government is seeking a new head for the Petroleum Resources Development Secretariat (PRDS), to lead the island’s search for oil and gas resources. The vacancy for the Director General of the Petroleum Resources Development Secretariat has been posted on the website of the organisation, which now comes under […]
Sri Lankan capital among cheapest cities: survey
SYDNEY, July 7, 2011 (AFP) – The soaring Australian dollar has turned the country’s four biggest cities into some of the most expensive locations in the world, according to a new global survey published Thursday. Sydney and Melbourne are now the sixth and seventh most expensive cities on the planet, the Economist Intelligence Unit’s biennial […]
China tops Sri Lanka loan commitments
July 07, 2011 (LBO) – China has committed 760 million US dollars of new loans in the first four month of 2011, topping Japan’s 413 million dollars in the same period, to reach top spot, official data showed. Sri Lanka’s total capital budget is financed from loans, as the country runs a deficit on the […]
Sri Lanka one year Treasuries slip
July 05, 2011 (LBO) – Sri Lanka’s 12-month Treasury bill yield slipped 10 basis points to 7.25 percent at Wednesday’s auction, where 10 billion rupees of Treasuries were offered for sale, the government’s debt office said. The 3-month yield eased 01 basis point to 7. 11 percent and the 6-month yield fell 02 basis points […]
Sri Lanka stocks end up 0.3-pct
July 06, 2011 (LBO) – Sri Lankan stocks closed higher for the second day running although turnover remained lower than usual with no big deals done, brokers said. The main All Share Price Index closed at 6,884.06, up 0.31 percent (21.27 points) while the more liquid Milanka index rose 0.28 percent (18.23 points) to close […]
Port Prospects
July 06, 2011 (LBO) – A new deep-water terminal in Colombo port will help Sri Lanka take advantage of increasing Indian cargo volumes, said the head of a local firm doing the project in a joint venture with a Chinese company. Parakrama Dissanayake, chairman of Aitken Spence Maritime, said Indian efforts to modernise its own […]