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Sri Lanka shares end up 0.15-pct
Jan 14, 2011(LBO) – Sri Lankan stocks closed higher Friday with active trading seen in finance sector, brokers said. The All Share Price Index closed at 7,032. 60, up 0.15 percent (10.72 points) while the Milanka Price Index of more liquid stocks closed at 7,301. 09, down 0.35 percent (25.75 points) according to stock exchange […]
Sri Lanka Taj owners may build another hotel: minister
Jan 14, 2010 (LBO) – Investors connected to Taj Samudra hotel in Sri Lanka’s capital Colombo may build another hotel in the same premises, economic development minister Basil Rajapaksa said. The Taj group said late last year that the existing 5-star Taj Samudra may go through a 60 million US dollar upgrade. The group manages […]
Sri Lanka to get US$500mn hotel from China aviation firm
Jan 14, 2010 (LBO) – A Chinese aviation firm will build a 500 million US dollar hotel and shopping complex in the main beachfront of Sri Lanka’s capital Colombo, the government said. Shangri-La will get state land on which a military sports ground was located. China National Aero Technology Import and Export Corporation (CATIC) will […]
Sri Lanka struggles with flood havoc
BATTICALOA, January 14, 2011 (AFP) – The Sri Lankan military and aid agencies struggled Thursday to bring relief to a million people displaced by floods that have claimed nearly 30 lives and devastated the island’s rice bowl. Even as torrential rains eased overnight to bring some temporary respite, the number of people seeking protection in […]
‘s inflation leaps above 8.0%
NEW DELHI, January 14, 2011 (AFP) – India’s inflation rose again to 8. 43 percent in December, data showed Friday, as the government announced steps to curb food prices amid mounting public anger over the cost of living. The wholesale price index, used as the main measure for inflation in India, accelerated to 8.43 percent […]
Sri Lanka to sell pre-paid power: minister
Jan 13, 2011 (LBO) – Sri Lanka’s state run power utility, Ceylon Electricity Board is planning to sell electricity under a pre-paid tariff system, power minister Champika Ranawaka said. This will be a pre-paid system just like with the mobile phones,” minister Ranawaka told reporters. We will have to study it and introduce it within […]
Sri Lanka gets US$250mn from land sales to developers: minister
Jan 14, 2010 (LBO) – Sri Lanka is raising 250 million US dollars from the sale of two blocks of land to developers who will build hotels and shopping complexes near the main beachfront in the capital Colombo, a government minister said. Hong Kong based Shangri-La hotels and state-run China National Aero Technology Import and […]
Sri Lanka economic freedoms improve: think tank
Jan 14, 2011 (LBO) – Sri Lanka has improved its score in an economic freedom index for 2011 compiled by US based heritage foundation and the Wall Street Journal, but the increasing non-tarrif barriers and state expansion has dragged the score down. Sri Lanka improved its score by 2.5 points to 57.1 making it the […]
Sri Lanka stocks close up 0.1-pct
Jan 13, 2011(LBO) – Sri Lankan stocks closed 0.10 percent higher Thursday with active trading in the power sector and lot of retail driven participation, brokers said. The All Share Price Index closed at 7,021.88, up 0.10 percent (7.03 points) while the Milanka Price Index of more liquid stocks closed at 7,326.84, down 0.01 percent […]
Transport Secretary
Jan 13, 2010 (LBO) – Head of Sri Lanka’s Vallibel, Dhammika Perera has been appointed to the post of secretary of the transport ministry. Vallibel has interests in ceramics, power, banking, tourism and gaming. Perera said he got the letter of appointment on Wednesday and he will unveil plans to develop the country’s transport sector, […]
Floods force a million Sri Lankans from homes
January 13, 2011 (AFP) – Flooding in Sri Lanka has forced more than one million people out of their homes, the government said Thursday as it began distributing emergency food, clothing and bedding. At least 23 people have died during a week of monsoon floods, with the centre and east of the island worst hit […]
‘s capital cools to a 2-year low
Jan 13, 2011 (LBO) – A combination of a cloudy sky and a cold stream from Himalayas pushed temperature at Sri Lanka’s capital Colombo to a two year low of 18. 8 degrees on the Celsius scale on Thursday, the meteorological office said. “The average temperature for Colombo in the past 30 years has been […]