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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 […]
Liner Moves
Dec 28, 2009 (LBO) – The Sri Lanka Ports Authority said it has managed to win back the custom of Mediterranean Shipping Company (MSC), a global container shipping line.SLPA chairman Priyath Wickrama said improved efficiency and productivity demonstrated by the JCT staff helped win back the MSC service.MSC’s ‘Golden Gate Pendulum Service’ began weekly calls […]
Transport Links
Dec 28, 2009 (LBO) – Aramex, a global transportation and logistics services company, has set up a joint venture with Delmege Forsyth Group, one of Sri Lanka’s oldest business houses, the two firms said in a statement.The joint venture company, Aramex Delmege Logistics, will provide a range of supply chain services, including warehousing and distribution, […]
Sri Lanka readies Ceylon tea intellectual property claim
Dec 28, 2009 (LBO) – Sri Lanka is readying a claim for intellectual property protection for different types of Ceylon tea under global ”Geographical Indicators’ rules that would help market the product, a senior official said.Sri Lanka Tea Board chairman Lalith Hettiarachchi said they are seeking recognition for GI indicators for seven tea growing districts […]