Category:
Sri Lanka Treasuries yields steady
Jan 06, 2011 (LBO) – Sri Lanka’s short-term Treasury bill yields stayed largely steady at Wednesday’s auction with the government rolling ten billion rupees worth of maturing bonds, the debt office said. The yield on three-month bills stayed flat at 7. 24 percent while that on six-month bills fell to 7.33 percent from 7.35 percent […]
Sri Lanka shares end up 0.82-pct
Jan 04, 2011, (LBO) – Sri Lankan stocks closed higher Thursday with active trading seen in the poultry and index heavy stocks like JKH, brokers said. The All Share Price Index closed at 6,809.73, up 0.82 percent (55.42 points) while the more liquid Milanka index closed at 7,194.50, up 0.53 percent (38.15 points) according to […]
Highway Travel
Jan 06, 2011 (LBO) – An expressway linking the Sri Lankan capital Colombo to the south is nearing completion with one section expected to be open to the public by June this year, a statement said. Work on roads near three cricket World Cup venues is also being expedited to cater to the large numbers […]
Bunker Business
Jan 06, 2011 (LBO) – The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May, its chairman Priyath Wickrama said. Bunkering is seen as a lucrative business given the heavy ship traffic around the island. A tank farm with a capacity of […]
Fund Appeal
Jan 06, 2011 (LBO) – Bidding for NAMAL, a unit trust management company owned by Sri Lanka’s Distilleries group, is still open and at the preferred bidder stage, a stock exchange filing said. Distilleries group controlled by tycoon Harry Jayawardena has put up a 70 percent stake of NAMAL for sale along with 100 percent […]
Sri Lanka allows duty free import of milch cows, dairy equipment
Jan 06, 2010 (LBO) – Sri Lanka is lifting all import levies on high yielding milk cows and diary equipment to promote domestic production of milk and is also increasing the farm gate price of milk, a senior minister said. Information minister Keheliya Rambukwelle said the cabinet of ministers had approved the tax change following […]
Medical Market
Jan 06, 2011 (LBO) – Sri Lanka’s E-Channelling, a listed dotcom that enables patients to make appointments with doctors over the internet, has struck a deal to enter the Maldives and a wider market with Qatar Telecom, a statement said. Wataniya Telecom is owned by Qatar Telecom (QTel) which has 58 million subscribers in 17 […]
‘s stewardship of dynamic economy
WASHINGTON, January 5, 2011 (AFP) – The International Monetary Fund Wednesday praised India’s stewardship of one of the world’s fastest-growing economies, saying the country’s growth prospects appear robust. The IMF said that India had emerged from the global financial slump with a strong recovery since mid-2009 led by domestic demand, particularly infrastructure investment. “Executive directors […]
Sri Lanka gas distributor invests Rs500mn in mini-hydro
Jan 06, 2011 (LBO) – Sri Lankan liquid petroleum gas distributor Laugfs Gas plans to invest 500 million rupees in a mini-hydro power project, a stock exchange filing said. The project will be done by a fully-owned company subsidiary called Laugfs Power and will be its first mini-hydro power project. Construction work on the Ranmudu […]
Sri Lanka seeks to change inflation index as price pressure grows
Jan 06, 2011 (LBO) – Sri Lanka wants to change a price index again to reflect recent changes in consumption patterns although previous tinkering with the indicator at a time inflation hit record highs drew criticism. It would also cover changes in credit growth, money market liquidity and its control measures, impact of capital inflows […]
Sri Lanka aims for US10bn forex reserves by 2013
Jan 05, 2011 (LBO) – Sri Lanka is improving its foreign reserves management system with more modern trading systems and practices and aims to build up foreign exchange reserves to over 10 billion US dollars in the next few years, central bank governor Nivard Cabraal said. The central bank plans to go for better trading […]
Sri Lanka shares end up 0.78-pct
Jan 05, 2011, (LBO) – Sri Lankan stocks closed higher Wednesday with active trading taking place in the poultry sector, brokers said. The All Share Price Index closed at 6,754.31, up 0.78 percent (52.46 points) while the more liquid Milanka index closed at 7,156. 35, up 0.88 percent (62.28 points) according to stock exchange provisional […]