Category:
Gas Call
Dec 30, 2009 (LBO) – The Sri Lankan unit of the Shell gas multinational said it was holding domestic prices of liquid petroleum gas cylinders despite higher import costs as the government had cut taxes. The announcement came as the Trade and Consumer Affairs Ministry said the other supplier Laugfs Gas will cut its prices […]
Fickle Pricing
Dec 30, 2009 (LBO) – The Sri Lanka unit of Indian Oil Corporation said it is likely to make losses on petrol sales after the dominant state-owned oil refiner slashed retail prices barely a month ahead of presidential polls. Last month on petrol sales we made a profit of one rupee per litre, said K […]
Sri Lanka inflation accelerates in December
Dec 30, 2009 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 4.8 percent in December from a year ago, against 2.8 percent in November, indicating inflation is picking up, the government’s statistics office and analysts said.In the month of December the revised Colombo Consumer Price Index (CCPI) rose 1.2 percent, higher than the […]
Sri Lanka Jaffna peninsular revival driven by road link
Dec 30, 2009 (LBO) – At a remote fishing village in Sri Lanka’s northern Jaffna peninsular a fisherman tells a group of officials from a state-run commercial bank and the country’s central bank the difficulties faced in a getting loan.“We would like to thank the bank for introducing a new loan scheme, but the requirement […]
Sri Lanka Treasuries yields move up
Dec 29, 2009 (LBO) – Sri Lanka’s Treasuries yields edged up marginally across maturities at Tuesday’s auction, while the rollover was oversubscribed two times, the government’s debt office said.The short term paper received bids worth 17,285 million rupees at the auction, it said. The 3-month yield rose 06 basis points to 7.73 percent, the 6-month […]
Sri Lankan shares close up 0.57-pct
Dec 29, 2009 (LBO) – Sri Lankan shares closed up Tuesday as investors bought further into high net worth counters before year end, while brokers said the current positive sentiment would generate further buying interest in 2010. The Colombo all share price index (ASPI) ended at 3,363.81, up 0.57 percent (18.92 points) while the more […]
Taking Care
Dec 29, 2009 (LBO) –Sri Lanka’s government must ensure adequate funding for road maintenance to prevent newly built and repaired roads deteriorating to previous levels, the Asian Development Bank has said. The bank, which has spent millions of dollars on roads in the island, said in a report its Road Sector Development Project (RSDP) had […]
Sri Lanka draws more cruise ships
Dec 29, 2009 (LBO) – The Sri Lanka Ports Authority said the cruise ship ˜Discovery’ of the Voyages of Discovery cruise line called at Colombo port as part of a cruise tourism revival with the end of the island’s ethnic war. The cruise line is now owned by UK-based All Leisure Group which is also […]
Slow Connections
Dec 29, 2009 (LBO) – Sri Lanka is the most uncertain market among South Asian countries for new telcos, while Pakistan has the most transparent process for entry and spectrum, despite high fees, a study has found.“Pakistan is the most expensive to enter in South Asia, but it’s the most transparent,” Helani Galpaya, chief operating […]
‘s 3G auction set for further delay
NEW DELHI, December 29, 2009 (AFP) – India’s long-awaited auction for third generation (3G) mobile telecom services has been delayed again and will miss a January 14 deadline, officials said Tuesday.“It will obviously not be on January 14. We will announce it (a new date for the auction) soon on our website,” an official in […]
Fuel Cost
Dec 29, 2009 (LBO) – Sri Lanka’s state-owned refiner, the Ceylon Petroleum Corporation, said it will cut fuel prices from midnight Tuesday. It said in a statement that the price of a litre of 90 Octane petrol will be reduced to 115 rupees from 130 rupees now while 95 octane petrol will be sold at […]
Sri Lanka stocks re-rated upwards, up 122-pct
Dec 28, 2009 (LBO) – Sri Lankan retail stock buyers are focusing on mid capitalised firms while high net worth investors are chasing blue chips up in a fresh re-rating of the market, which is up 122-pct so far this year, analysts said. “The traders will be slowly shifting towards midcap stocks expecting prices to […]