Category:
Liquid Potential
Mar. 31 (LBO) – Small hydro company Vallibel Power Erathne, that opens its share issue on April 6, is bullish on Sri Lanka’s hydro and other renewable energy prospects, despite climbing costs. The Vallibel Power group operates 18.9 megawatts in small hydro plants, with plans to go up to 45 MegaWatts over the next few […]
‘s March inflation dips
Mar. 31 (LBO) – Sri Lanka’s annualised inflation eased to 9.6 percent in the twelve months to March from 10.3 percent in February, despite price hikes in the sales of firewood, sugar, meat and milk tea, the Census & Statistics Dept said Friday. The twelve month moving average is usually taken as the official inflation […]
‘s economy expands by 5.9 % in 2005
Mar. 31 – Sri Lanka’s economy expanded by 5.9 percent in 2005, over 5.4 percent a year earlier, in the backdrop of high international oil prices and stiff competition for key exports like garments, the Central Bank said Friday. Economic growth during the fourth quarter of 2005 was 6.3 percent on higher inputs from agriculture, […]
Sri Lanka to discuss military cooperation with Pakistan
Mar. 31 (AFP) – Sri Lankan President Mahinda Rajapakse was due in Islamabad Friday for a three-day visit during which he is expected to discuss military cooperation with Pakistan, official sources said Friday.Rajapakse, who is also the defence minister, will hold talks with President Pervez Musharraf on bilateral trade, tourism, cultural exchanges and defence matters […]
Sri Lanka ruling party heads for local council win
Mar. 31 (AFP) – Sri Lanka’s ruling party Friday was headed for a comfortable sweep of local council elections after the first test of public opinion since President Mahinda Rajapakse came to power.Official results declared by the Sri Lankan election department showed that Rajapakse’s people’s Alliance had won 39 out of the 49 councils declared […]
Long term debentures of Sri Lanka’s HNB earn A- domestic rating from Fitch
Mar. 30 (LBO) – Sri Lanka’s Hatton National Bank’s Rs1.22 billion debenture issue, which closes Friday has been privately placed mostly among institutions, with longer tenures running up to 18 years being snapped up by insurance firms, an official said. Fitch Ratings Lanka Thursday assigned a rating of A- (sri) and a stable outlook, for […]
‘s HNB earn A- domestic rating from Fitch
Mar. 30 (LBO) – Sri Lanka’s Hatton National Bank’s Rs1.22 billion debenture issue, which closes Friday has been privately placed mostly among institutions, with longer tenures running up to 18 years being snapped up by insurance firms, an official said. Fitch Ratings Lanka Thursday assigned a rating of A- (sri) and a stable outlook, for […]
Costly Plastic
Mar. 30 (LBO) – Sri Lanka’s treasury secretary P B Jayasundara has asked the two state banks to step up credit card sales to public servants, following hefty salary increments this year. Under a recent government circular, those working in low and middle level jobs got a 25 percent pay hike, while medical services got […]
Buying Time
Mar. 30 (LBO) – Sri Lanka’s Commercial Bank of Ceylon Thursday put off its annual and extraordinary general meetings till next week, as shareholder attendance fell short of the required quorum. The lack of a quorum is due to a court order which restricted the voting powers of some of Commercial Bank’s key shareholders including […]
Rubber, tea prices boost Kelani Valley sales
Mar. 30 (LBO) – Kelani Valley Plantations Ltd and its subsidiary companies have reported healthy increase in turnover for the financial year ended December 31, 2005 on the back of strong growth in tea and rubber production.In its annual report for 2005 the company reported a 10 per cent increase in turnover to Rs 1.918 […]
Neat Fit
Mar. 30 (LBO) – The open source middleware start up WSO2 said Thursday that its WSO2 Tungsten product is fully interoperable with Microsoft’s upcoming Vista operating system. WSO2 is an open source company, which has offices in Boston, USA and a development centre in Sri Lanka. “Our efforts are proving that open source middleware technologies […]
Low turnout in Sri Lanka local polls
Mar. 30 (AFP) – A low turnout marred municipal elections in Sri Lanka Thursday after a campaign which unexpectedly focused on local issues instead of the usual electoral favourite, the island’s divisive peace process.Election officials estimated that only about half the 10.1 million eligible voters turned out to cast their ballots to elect municipal, urban […]