Category:
Sri Lanka seeks developers for prime property
June 30, 2011 (LBO) – Sri Lanka is searching for a buyer for a block of prime beach front land adjacent to two that are slated to be among the largest real-estate cum hotel developments to start in the country after the end of a 30-year war, officials said. “The land is still available,” deputy […]
Sri Lanka Finco cuts stake in newly listed apparel firm
June 30, 2011 (LBO) – Sri Lanka’s Finco group has reduced its stake in Orient Garments, a newly-listed apparel subsidiary, when it began trading Wednesday, a stock exchange filing said. Finco Holdings, which held 80.98 percent of Orient Garments, sold 10,983,400 shares of its holding constituting 20 percent of the apparel exporter’s issued capital at […]
Fuel Fiasco
June 30, 2011 (LBO) – Sri Lanka’s petroleum industries minister has rejected allegations the government imported low quality petrol, saying motorists whose vehicles were damaged had been supplied fuel contaminated by rain and dregs. Susil Premajayantha said motorists who could prove they had been supplied contaminated fuel would be given compensation. He rejected allegations the […]
Sri Lanka inflation eases to 7.1-pct in June
June 30, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.1 percent by June 2011, down from 8. 2 percent in May, with prices falling 0. 2 percent during the month, the government’s statistics office said. The food category fell 1.0 percent during the month, but all other categories rose or were […]
Sri Lanka to take-over land to build new city in Hambantota
June 30, 2011 (LBO) – Sri Lanka will take-over land in Hambantota in Southern Sri Lanka to build a new business and industrial city which will have housing, hotels, a theatre, schools, beach parks and, the government’s information office said. Sri Lanka’s cabinet of ministers had given the nod to give Urban Development Authority (UDA) […]
Sri Lanka to allow cross-border deals in Renminbi
June 29, 2011 (LBO) – Sri Lanka will allow international transactions to be conducted through banks in Renminbi, China’s currency, as trade and investment with the country grows, the island’s central bank said. China’s currency is pegged to the dollar, and has large US reserves, indicating that the currency is ultimately mostly backed by US […]
Sri Lanka Treasuries yields flat
June 29, 2011 (LBO) – Sri Lanka’s Treasury bill yields were stead at this week’s auction with the 3-month yield flat at 7. 12 percent, data from the government’s debt office showed. The 6-month yield edged up 01 basis point to 7. 23 percent and the 12-month yield was flat at 7.35 percent. The debt […]
Sri Lanka stocks close 0.22-pct up
June 29, 2011 (LBO) – Sri Lanka stocks ended higher Wednesday with Orient Garments, the first apparel exporter to list, which opened trading, the most actively traded share and the day’s fourth highest gainer, brokers said. The main All Share Price Index closed at 6,878.15, up 0.22 percent (15.32 points) while the more liquid Milanka […]
Parental Support
June 29, 2011 (LBO) – Fitch Ratings Lanka has assigned DFCC Vardhana Bank’s (DVB) proposed subordinated debentures of up to a billion rupees a national rating of ‘A+(lka)’. The agency has simultaneously confirmed DVB’s National Long-Term rating at ‘AA-(lka)’ with a stable outlook, a statement said. The proposed debt issue has tenures ranging from five […]
Sri Lanka to cancel deals of promoters who delay in Eastern resorts
June 29, 2011 (LBO) – Sri Lanka may cancel deals of four investors who were given state land to build hotels in Pasikudah in the Eastern coast of the island, deputy economic development minister Lakshman Yapa Abeywardene said. He said four parties who got land had not used the land so far. “If they do […]
” is chomping up US orchards
WASHINGTON, June 29, 2011 (AFP) – A stink bug from Asia is chomping up US vegetable fields, orchards and vineyards, causing experts to scramble through an arsenal of weapons to try and halt this stealthy, smelly predator. Pesticides, parasites and traps have all been tried but none have succeeded in killing off the brown marmorated […]
Sri Lanka reservoir flood move may end elephant gathering: hoteliers
June 29, 2011 (LBO) – A plan by authorities to flood an ancient reservoir in Sri Lanka during the dry season may disrupt a centuries old migration of wild elephants who congregate in what is possibly the largest such gathering in the world, a leisure group has warned. Around August each year elephants running into […]