Category:
Support Vessel
Apr 08, 2011 (LBO) – Sri Lankan ship builder Colombo Dockyard has laid the keel for the first of a series three Multipurpose Platform Supply Vessels for Singapore’s Greatship Global Offshore Services. The vessel is designed to have an accommodation area for 50 persons. The vessel, scheduled for delivery in the first quarter of 2012, […]
Loan Forecast
Apr 08, 2011 (LBO) – Loans by Sri Lanka’s listed commercial banks will grow 25 percent in 2011, up from 22. 5 percent in the with bad loans and also interest rates remaining low despite rising inflation, an equities research report has said. The report said PABC Bank reported highest loan growth of 80 percent […]
Sri Lanka tea prices hit by Middle East turmoil
Apr 08, 2011 (LBO) – Sri Lankan tea prices fell at this week’s Colombo auction as turmoil in the Middle East, one of the main importing regions, affected shipments and payments, brokers said. All three elevations, high, medium and low have seen increases of 27.0, 20.45 and 7.28 rupees over last year. Prices of low […]
Sri Lanka lingerie brand sees strong sales in India
Apr 08, 2011 (LBO) – Sri Lankan apparel exporter MAS Holdings has said sales of its Amante lingerie brand are growing strongly in India and that it hopes to break even in the market this year. “We’re having phenomenal growth in India, averaging 40 percent,” said Ajay Amalean, director, MAS Holdings. “The category itself is […]
Oil Mercantilism
Apr, 08, 2011 (LBO) – A top US monetary economist has poured cold water on fears about the world running out of oil, an idea which gains special prominence when the US Fed loosens monetary policy, debases the dollar and sends commodities bubbling up. Nixon at the time even halted exports of food commodities, instead […]
Sri Lankan firms allowed to borrow abroad
Apr 07, 2011 (LBO) – Sri Lanka’s central bank has begun allowing companies to borrow abroad, calling for applications from firms for loans up to 20 million US dollars. Sole proprietorships include those in consultancy services, handicrafts, advertising, publishing, sports services, fashion and film, and entertainment industry. Companies can borrow for working capital, investment, restructuring […]
Sri Lanka shares closer higher
Apr 07, 2011 (LBO) – Sri Lankan shares closed higher Thursday with some interest in the banking and finance sector although total trading volumes were lower than uual, brokers said. The All Share Price Index closed at 7,378.73, up 0.26 percent (18.83 points) while the more liquid Milanka index rose 0. 18 percent (12.90 points) […]
Safe Land
Apr 07, 2011 (LBO) – Australia has given 480 million rupees to clear land mines from Sri Lanka’s war torn north and speed up the re-settlement of displaced people and farming, the Australian embassy in Colombo said. Though demining in progressing fast, about 506 square kilometres remain to be cleared. Australia had already given 1.4 […]
Tax Banditry
Apr 07, 2010 (LBO) – Sri Lanka’s people are paying tens of billions of rupees to give state jobs to unemployable graduates from state universities where they have also studied at public cost, an official said. Sri Lanka has about 400,000 sitting for university qualifications exams and each year about 20,000 enter universities, and some […]
Gurkhas in first wave of British military job cuts
LONDON, April 7, 2011 (AFP) – Debt-laden Britain said Monday that 2,600 troops would lose their jobs in a first wave of redundancies forced by defence cuts, with 150 Nepalese Gurkha troops among the first to go. The Ministry of Defence (MoD) said that 1,000 soldiers and 1,600 Royal Navy personnel would be laid off. […]
Sri Lanka, UK flights to increase
Apr 07, 2011 (LBO) – Sri Lanka is to sign an air services agreement with the United Kingdom enabling increased flights between the two countries, a government statement said. The air services agreement would enable the frequency entitlement to be increased to 21 flights a week from 14 today between the two countries. The increased […]
Sri Lanka cricket needs clean-up: Bayliss
April 7, 2011 (AFP) – Sri Lanka’s outgoing coach Trevor Bayliss on Thursday said the country needed a strong and stable cricket administration to allow players to focus only on the game and not be distracted by politics. “On the field, we’ve done pretty well for past 18 months,” Bayliss said in an interview with […]