Category:
Sri Lanka buys Shell LP Gas unit
Nov 03, 2010 (LBO) – Sri Lanka’s government has bought liquefied petroleum gas distribution operations of Royal Dutch Shell in the island for 63 million US dollars, officials said. Another 24 million US dollars had been invested in building other infrastructure. Hiran Seneviratne, a company official, said the agreement was signed at 11.00 am. Sri […]
Sri Lanka Treasuries move up across maturities
Nov 02, 2010 (LBO) – Sri Lanka’s Treasury bill yields moved up between 16 to 18 basis points across maturities at Tuesday’s auction, the government’s debt office said. The spot US dollar was quoted at 111. 69/70 rupees, dealers said. The 3-month yield rose 16 basis points to 7. 29 percent, the 6-month yield rose […]
Sri Lanka stocks close down 0.62-pct
Nov 02, (LBO) – Sri Lanka’s stocks closed down Tuesday, dragged down by index heavy stocks like John Keells Holdings (JKH) and Hayleys, brokers said. The Colombo All Share Index dipped 0.62 percent (41.79 points) to 6,710.64 points, while the Milanka Index of more liquid stocks also dipped 0. 65 percent (47.34 points) to 7,228.91, […]
Top Gear
Nov 02, 2010 (LBO) – Sri Lanka imported over 10,000 cars in the four months after import duty was slashed in June this year while state revenue has also soared, a senior finance ministry official said. The tax reduction brought down excise duty on a Maruti car, a popular model, to 90 percent from 183 […]
Dockyard Deal
Nov 02, 2010 (LBO) – Sri Lanka’s Colombo Dockyard has been short-listed in a contract to build more passenger ferries for an Indian government customer, having completed delivery of two vessels, officials said. The new vessels to be ordered are bigger, being capable of carrying 400 passengers and 250 tonnes of cargo. Jitendra Kumar Dadoo, […]
Finance Listing
Nov 02, 2010 (LBO) – Sri Lanka’s Singer Finance Ltd is planning to raise 400 million rupees in an initial public offering by selling 25 percent of its shares to the public, a stock exchange filing said. Singer Finance has 106.6 million shares in issue and it will sell 26.6 million shares at 15 rupees […]
Sri Lanka seeks international hotel chain to manage heritage property
Nov 02, 2010 (LBO) – Sri Lanka’s state-owned Bank of Ceylon is seeking an international hotel chain to manage its subsidiary, Grand Oriental Hotel (GOH), a landmark built during British times overlooking Colombo port. Sri Lanka is experiencing a tourism boom with a sharp upturn in visitors following the end of its 30-year ethnic war […]
Glass Act
Nov 02, 2010 (LBO) – Piramal Glass Ceylon made a net profit of 157 million rupees in the September 2010 quarter as domestic sales rebounded after the end of a war and exports grew sharply, the company said. Chief executive Sanjay Tiwari said all the sectors in the domestic market, namely food and beverage, pharmaceuticals, […]
Sri Lanka hydro power IPO oversubscribed 57 times
Nov 02, 2010 (LBO) – Sri Lanka’s Hydro Power Free Lanka Ltd said its 350 million rupee initial public offering has been oversubscribed 57 times with applications worth 19. 97 billion rupees flooding in. Hydro Power Free Lankan offered 32 percent of the firm of 35 million shares. The issue’s managers, Taprobane Holdings Ltd, said […]
Sri Lanka stocks close up 1.11-pct
Nov 01, (LBO) – Sri Lanka’s stocks closed up Monday, with gains shown yet again in the banking sector, brokers said. The Colombo All Share Index rose 1.11 percent (74.38 points) to 6,752.43 points, while the Milanka Index of more liquid stocks rose 0.48 percent (34.48 points) to 7,276.25, according to provisional Colombo Stock Exchange […]
Sri Lanka slashes import taxes on edible oils, potatoes
Nov 01, 2010 (LBO) – Sri Lanka has slashed import taxes on vegetable oils, potatoes and onions to encourage imports as local prices rose, a senior finance ministry official said. S R Attygalle, director general fiscal policy, said the import tax on coconut oil has been cut to 15 rupees a kilo or 15 percent, […]
‘ half-year performance hits new record
Nov 01, 2010 (LBO) – Dubai-based Emirates airline’s first-half profit shot up 351 percent to 925 million US dollars (3. 4 billion UAE Dirhams) from a year ago as it carried more passengers and cargo, a statement said. The airline attributes the sharply higher profit in the six months ending September 30, 2010 mainly to […]