Category:
Commemorative Coin
Dec 16, 2010 (LBO) – Sri Lanka’s central bank has issued a 5,000-rupees commemorative coin to mark its 60th anniversary which will be sold to the public from next month, a statement said. The ‘Frosted Proof’ crown sized silver commemorative coin is the first multi-coloured coin issued by the central bank. The limited issue of […]
Sri Lanka Shangri-La leisure project would be US$500mn: minister
Dec 16, 2010 (LBO) – Hong Kong based leisure group Shangri-La will invest 500 million US dollars in a hotel project on the main beachfront of Sri Lanka’s capital Colombo, a government minister said. The land is expected to be sold for 75 million US dollars according to reports. “The Shangri-La group has come forward […]
Sri Lanka gets US$500mn worth tourism proposals for 10 islets
Dec 16, 2010 (LBO) – Eleven leisure firms have submitted proposals worth 500 million US dollars to build hotels and other leisure facilities in 10 islets off Sri Lanka’s North Western coast, an official said. Chairman of Sri Lanka’s tourism development authority Nalaka Godahewa said the bids closed on December 03 and successful parties will […]
Sri Lanka Bairaha to expand broiler production with new farm
Dec 16, 2010 (LBO) – Sri Lankan poultry firm Bairaha Farms aims to increase production by more than half in three years with a total estimated investment of almost 360 million rupees on a new farm, a statement said. The poultry producer, which owns and manages a large-scale chicken processing factory and also operates breeder […]
Sri Lanka tea exporter goes carbon neutral
Dec 16, 2010 (LBO) – Sri Lankan tea firm Eswaran Brothers Exports has got ‘Carbon Neutral’ certification by reducing emissions and buying carbon offsets from a biomass renewable energy project on a tea estate, a statement said. “It’s among the initial steps we have taken in our drive to become a truly ethical and sustainable […]
Sri Lanka hotels, industry to face higher power tariffs
Dec 16, 2010 (LBO) – Sri Lanka’s industries and hotels will face sharply higher power costs of around 25 to 100 percent under new tariffs proposed for 2011, industry representatives told a public hearing called by the regulator. Sri Lanka’s industry has been getting subsidized power, though most of the subsidies went to domestic users […]
Sri Lanka economy expands 8.0-pct in 3Q, 2010: Statistics office
Dec 16, 2010 (LBO) – Sri Lanka’s economy has expanded 8. 0 percent in the third quarter of 2010 from a year earlier, compared to an 8.5 percent growth in the second quarter, the government’s statistics office said. The services sectors 8.0 percent growth (up from 5.1 percent last year) came with hotels and restaurants […]
Sri Lanka Treasuries yields ease
Dec 15, 2010 (LBO) – Sri Lanka’s three-month and six-month Treasury bill yields fell slightly at Wednesday’s auction with the government rolling over 10,883 million rupees worth of bonds, the debt office said. The debt office said the auction for the re-issue of 11,000 million rupees of maturing Treasury bills was oversubscribed with bids amounting […]
Sri Lanka stocks close down 0.2-pct
Dec 15, 2010 (LBO) – Sri Lankan stocks closed down 0.19 percent Wednesday, dragged down by banking and index heavy stocks while shares of a gas distributor which debuted last week fell to their issue price, brokers said. The All Share Price Index closed at 6,373.76, down 0.19 percent (11.84 points) while the Milanka index […]
Niche Focus
Dec 15, 2010 (LBO) – RAM Ratings Lanka has upgraded Co-operative Insurance Company Limited’s (CICL) claims-paying ability rating to BB+ from BB with a stable outlook, a statement said. “The upgrade is reflective of the company’s strengthened capitalisation and improving financial performance,” the rating agency said. “Moreover, the rating is supported by CICL’s niche focus […]
Finance Appetite
Dec 15, 2010 (LBO) – An initial public offer by Singer Finance (Lanka) to raise 400 million rupees by offering 26.66 million shares at 15 rupees each was oversubscribed on the opening day Wednesday, a statement said. Registrars to the issue, SSP Corporate Services (Private) Limited, said in a stock exchange filing that the IPO […]
Sri Lanka tourism arrivals up 63-pct in November
Dec 15, 2010 (LBO) – Sri Lanka’s tourism arrivals rose 63. 1 percent in November to 72,251 from a year earlier, while total visitors for the 11 months increased 45.7 percent to 569,849, tourism promotion office data showed. Eastern Europe generated 42.4 percent higher visitors at 4,920 with Russia up 38.4 percent to 2,063. North […]