Category:
Sri Lanka Ceylon Hotels Corp to upgrade hotels
June 24, 2010 (LBO) – Ceylon Hotels Corporation, which has properties on prime locations throughout Sri Lanka, has lured a top executive from a big hotel group and plans to upgrade several hotels, a stock exchange filing said. The CHC, part of the Gale Face Hotel group, plans to spend 350-500 million rupees on the […]
Sri Lanka blast wounds nine in capital: police
June 24, 2010 (AFP) – An explosion ripped through a commercial area of Sri Lanka’s capital Colombo on Thursday, wounding at least nine people, police said. The blast in the Pettah area was believed to have been caused by a hand grenade or an improvised explosive device, a police official said, adding that an investigation […]
Sri Lanka increases taxes on sugar, alcohol, cigarettes
June 24, 2010 (LBO) – Sri Lanka has increased levies on sugar imports by five rupees, while a cigarette tax would go up by one rupee and taxes on a proof litre of spirits would rise by another 50 rupees, a senior treasury official said. Taxes on sugar imports have been increased as world prices […]
Sri Lanka rejects EU conditions to extend GSP Plus trade deal
June 24, 2010 (LBO) – The Sri Lankan government has rejected conditions imposed by the European Union to extend the GSP Plus trade deal giving exporters duty free access to EU markets, a spokesman said. He said the government wants the GSP Plus to be extended unconditionally. If not the government is ready to look […]
Sri Lanka to block visits by UN panel probing war allegations
June 24, 2010 (AFP) – Sri Lanka will ban visits by the three-member United Nations panel investigating alleged human rights abuses in the final months of the island’s civil war, a senior minister said Thursday. Troops finally wiped out the separatist Tamil Tiger guerrillas in May last year after decades of ethnic bloodshed, and the […]
Sri Lanka GDP grew 7.1-pct in Q1, 2011
June 24, 2010 (LBO) – Sri Lanka’s economy expanded 7.1 percent in the first quarter of the year compared with the same period a year ago helped by strong growth in tea, rubber, export crops and services, the Department of Census and Statistics said. The major reason for this growth was the increase in average […]
Sri Lanka to fast-track investment approvals
June 24, 2010 (LBO) – The Sri Lankan government has decided to set up a committee of senior bureaucrats from key ministries to fast-track decisions on private sector investment proposals, a spokesman said. Media minister Keheliya Rambukwella said the committee of officials is being created to help eliminate bottlenecks in the normal investment approvals process. […]
Sri Lanka Treasuries yields up
June 23, 2010 (LBO) – Sri Lanka’s Treasury bill yields rose at Tuesday’s auction, with the government selling more than the maturing volume to raise new money, the government’s debt office said. The debt office sold 2.177 billion rupees in 3-month bills, 4. 5 billion in 6-month bills and 4. 611 billion rupees in 12-month […]
Sri Lankan stocks close 0.94-pct down, retailers sell
June 23, 2010 (LBO) – Sri Lankan stocks fell below 4,600 points Wednesday, as retail investors with weak holding capacity sold to minimize losses, while losses in selected index heavy shares also dragged down the market, brokers said. The All Share Price Index closed at 4,591. 17, down 43.56 points, while the Milanka index of […]
Sri Lankan stocks close 0.51-pct down on profit taking
June 22, 2010 (LBO) – Sri Lankan stocks closed down Tuesday as retail investors took profits while penny stocks continued to be heavily traded, brokers said. The All Share Price Index closed at 4,634.73, down 23.95 points, while the Milanka index of more liquid stocks fell 0. 67 percent (35.95 points) to close at 5,303.81. […]
Port Move
June 23, 2010 (LBO) The Sri Lanka ports Authority has signed a contract with a Chinese firm, China Harbour Engineering Company, to start the second phase of a new port in Hambantota on the south coast, a statement said. Phase two of the project will include further excavation of the site for the harbor basin […]
Banking Regulators
June 23, 2010 (LBO) – Si lanka’s Central Bank has promoted four officers as assistant governors from June 15 as part of the bank’s succession plan, a statement said. The new assistant governors are Y A de Silva, W M Hemachandra, S Lankathilake, and C J P Siriwardena. Y A de Silva, a former Director […]