Category:
Sri Lanka shares end down 0.4-pct
June 01, 2011 (LBO) – Sri Lankan shares ended weaker Wednesday with some interest seen in financial and property stocks, brokers said. The main All Share Price Index closed at 7,387.15, down 0.42 percent (30.92 points) while the more liquid Milanka index rose 0.08 percent (5.45 points) to close at 6,859.06, according to stock exchange […]
Step Down
June 01, 2011 (LBO) – Sri Lanka’s police chief has resigned over the shooting of protestors who opposed plans to build a pension fund by deducting more money from private sector workers who are already contributing to two state managed funds. A government statement said Inspector General Mahinda Balasuriya has decided to “tender his retirement” […]
Pension Doubts
June 01, 2011 (LBO) – Sri Lanka’s main opposition has cast doubts on claims that a lifetime pension exceeding the contributed balance, will be paid through a controversial proposed pension plan for private citizens. “There is no way that the Government can make lifetime monthly pension payments via the proposed Private Sector Pension Scheme,” opposition […]
Sri Lanka export zone to reopen Thursday
June 01, 2011 (LBO) – Sri Lanka’s Export Processing Zone next to the Katunayake international airport is to be reopened Thursday following violent protests by workers against a new government pension bill they opposed. The Board of Investment said it requests all employees attached to the enterprises in the zone, north of Colombo, to report […]
Sri Lanka arrests police over firing at protesters
June 1, 2011 (AFP) – Two senior Sri Lankan police officers have been arrested over live rounds fired at protests against a pension bill at which 150 people were injured in violent clashes. Police spokesman Prishantha Jayakody said the two inspectors were held over their conduct at Monday’s protest in Katunayake, a town near the […]
Sri Lanka tax collections up but revenue deficit wide in 1Q
June 01, 2011 (LBO) – Sri Lanka’s first quarter 2011 state revenues rose 19. 5 percent from a year earlier to 218.4 billion rupees ahead of annual projections of 17. 8 percent with people paying 24.3 percent more taxes , but the revenue deficit was wide. Current expenses pulled ahead at a 9. 9 percent […]
Sri Lanka inflation eases to 8.8-pct in May
May 31, 2011 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 8. 8 percent in May 2011 from a year earlier, decelerating from a high of 9.8 percent in April, the government’s statistics office data showed. The country’s interbank money markets are flushed with excess liquidity. But in the month of May the […]
Sri Lanka March exports surge 54-pct
May 31, 2011 (LBO) – Sri Lanka’s exports surged 54 percent in March to 1,057 million dollars, topping a billion dollars for the first time helped by a steep increase in industrial goods as well as rising commodity prices, official data showed. Investment goods imports rose 95 percent to 163 million US dollars and consumer […]
Sri Lanka shares end down 0.7-pct
May 31, 2011 (LBO) – Sri Lankan shares ended weaker Tuesday despite retail buying of popular and speculative stocks, brokers said. Capital Development and Investment Company, which had shot up 303.10 rupees or almost 75 percent Monday to 707.30 rupees, fell almost 10 percent Tuesday to end at 636. 90 rupees. The main All Share […]
Finance Deadline
May 31, 2011 (LBO) – Sri Lanka’s central bank said 15 regulated finance companies have so far listed themselves on the Colombo Stock Exchange in response to a direction by the Central Bank and other are on the way. The Central Bank has set a deadline of June 30 for listings to be completed. The […]
Sri Lanka Hunas Falls hotel to increase rooms, push eco-image
May 31, 2011 (LBO) – Sri Lanka’s Hunas Hotel, located in the central hill district of Kandy will expand rooms and ride on its eco-friendly image targeting niche markets, chairman Mohan Pandithage told shareholders. The hotel’s revenues had increased 31 percent to 102 million in the year to March and profits had increased 153 percent […]
Sri Lanka Aitken Spence net up 20-pct in March
May 31, 2011 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in tourism, shipping, power and plantations said profits rose 20. 7 percent to 754.4 million rupees in the March 2011 quarter, with revenues flat at 6. 9 billion rupees. In the full year to March the group’s revenues rose 4. 0 percent […]