Category:
Sri Lankan stocks close down 0.86-pct
Aug 12, 2010 (LBO) – Sri Lankan stocks continued to slide Thursday, as retail investors with weak holding strength sold, while selected securities from Environmental Resources Investments group and some midcap shares rose, brokers said. The All Share Price Index closed at 5,034.85, down 0.86 percent (43.79 points) Thursday, while the Milanka index of more […]
Commercial Move
HAMBANTOTA, August 12, 2010 (AFP) – Sri Lanka is preparing to open the first phase of a China-funded, 1. 5-billion-dollar port project that has fuelled Indian concerns over strategic Chinese investment in South Asia. Sitting along the ancient “Silk Road” trading route and one of the world’s busiest shipping lanes, the Hambantota port is intended […]
Bus Business
Aug 12, 2010 (LBO) – Sri Lanka’s People’s Leasing Company has ordered 1,000 buses from India’s Ashok Leyland as post-war growth increases demand for passenger travel, a statement said. Ashok Leyland said in a Bombay Stock Exchange the 1,000-bus order from People’s Leasing in Sri Lanka was worth 26 million US dollars and partly funded […]
Speed
August 12, 2010 (AFP) – Sri Lankan police arrested three Iranian men and seized a haul of methamphetamine with an estimated street value of tens of millions of dollars, a spokesman said Thursday. Two men travelling from Qatar were arrested Wednesday when customs officers at the island’s international airport found more than eight kilos (17. […]
Sri Lanka gets US$18.55mn Indian wind power investment
Aug 12, 2010 (LBO) – An Indian investor is to invest 18. 55 million US dollars to build a 10 mega watt wind power plant in north-western Sri Lanka, the island’s investment promotion agency said. The Board of Investment said it granted investment approval to Powergen Lanka to set up the wind power plant in […]
Ship full of Sri Lankan refugees nears Canada: reports
MONTREAL, August 11, 2010 (AFP) – A ship full of Sri Lankan refugees was less than 320 kilometers (200 miles) from Canada’s western shores and could be arriving late Thursday or Friday, local media said Wednesday. In May last year, capping a four-decade civil war, Sri Lankan government troops finally defeated the separatist Liberation Tigers […]
Sri Lanka to lease prime land, re-settle squatters
Aug 12, 2010 (LBO) – The Sri Lankan plans to develop prime land in Colombo occupied by squatters by leasing some lands and issuing debentures to raise funds for the work, a minister said. Government spokesman Anura Yapa, who is environment minister, said a survey revealed that 66,000 low-income families were living in Colombo and […]
Sri Lanka Central Bank to increase forex trading
Aug 11, 2010 (LBO) – Sri Lanka’s Central Bank has called for bids for a new treasury management system to modernise its dealing room amid plans to increase foreign exchange trading as reserves grow, a statement said. Only bidders who have installed treasury management systems in at least one central bank or monetary authority or […]
Sri Lankan stocks close down 0.28-pct
Aug 11, 2010 (LBO) – Sri Lankan stocks closed down Wednesday, as investors opted to take defensive positions on speculative shares despite Tuesday’s rally, while Environmental Resources Investments (ERI) group shares lost ground, brokers said. The All Share Price Index closed at 5,078. 64, down 0.28 percent (14.30 points) Wednesday, while the Milanka index of […]
Travel Tale
Aug 11, 2010 (LBO) – Lanka Ashok Leyland, an Indo-Lanka joint venture importing and assembling buses has reported a sharp increase in profit and sales as post-war demand increases demand for passenger transport. The government-owned Lanka Leyland has a 41.77 percent stake in Lanka Ashok Leyland and Ashok Leyland of India a 27.85 percent stake […]
Corporate Cash
Aug 11, 2010 (LBO) – Sri Lanka’s NDB Investment Bank (NDBIB) said it has raised over eight billion rupees in the capital market for corporate clients during the first half of 2010. The bank’s Corporate Advisory Division has just concluded the Initial Public Offering of PC House Limited, with the issue being oversubscribed by over […]
India puts pressure on telcos over BlackBerry
NEW DELHI, August 10, 2010 (AFP) – India’s home ministry plans to meet mobile operators on Thursday to discuss allowing security agencies access to encrypted BlackBerry messages, a government official said. Indian law stipulates phone companies have the responsibility to ensure that intelligence agencies can lawfully monitor data handled by them. “The meeting will be […]