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Sri Lanka’s Ceylon Cold Stores net up 56-pct in June quarter
July 22, 2016 (LBO) – Profits at Sri Lanka’s Ceylon Cold Stores, which has interests in consumer goods and retailing, surged 56 percent to 855 million rupees in the June 2016 quarter from a year earlier as revenues rose 30 percent. Ceylon Cold Stores is a top producer of carbonated drinks, ice cream and has […]
Anuradhapura North to get water pipelines in Rs32 bln project
July 22, 2016 (LBO) – Sri Lanka’s cabinet has approved a water supply project for Anuradhapura North with a 32.1 billion rupee loan from the Japan International Cooperation Agency (JICA). “More Chronic Kidney Patients are reported than other districts in the island, as 85 percent of people living in rural areas of the district obtain […]
U.S. investors prefer real estate and cash to stocks: survey
July 22, 2016 – Retail investors are showing signs they have lost faith in U.S. stocks, and that real estate and cash are the most popular investments, a Bankrate survey shows. Out of 1,000 adults asked what they would do with their money if they didn’t need it for 10 years, a quarter said they […]
‘s Amana Takaful Life Rs75 Mln IPO oversubscribed
July 22, 2016 (LBO) – The Initial Public Offering of Amana Takaful Life Limited via an offer for sale of 75 million rupees was oversubscribed on its opening day Thursday. The company offered 50 million ordinary voting shares at 1.50 rupees per share on the Diri Savi Board of the Colombo Stock Exchange, which represents […]
‘s cash-strapped airline may lease four planes to Pakistan
July 21, 2016 (Reuters) – Sri Lanka’s cash-strapped national airline is in talks to lease four of its Airbus A330 planes to Pakistan International Airlines Corp, a government minister said on Thursday, months after cancelling an order for four Airbus A350 aircraft. State-owned SriLankan is aiming to reduce its debt and also looking for an […]
Sri Lanka consumer prices NCPI soars 6.4-pct in June
July 21, 2016 (LBO) – Sri Lanka’s inflation climbed for the fifth straight month in June after recording a fall of 0.7 percent in January, according to the National Consumer Price Index introduced in October last year with 2013 as the base. According to the Census and Statistics Department, inflation was 6.4 percent in June […]
World Bank pledges USD55mn loan to develop Jaffna
July 21, 2016 (LBO) – The World Bank on Wednesday pledged a 55 million US dollars loan to improve urban services, preserve cultural and environment assets, and improve livability in Jaffna. The credit agreement for the project was signed by Treasury Secretary, Dr. R.H.S. Samarathunga and World Bank Country Director Françoise Clottes. The credit will […]
Lamudi looks at current housing trends in Sri Lanka
In recent years, Sri Lanka has been experiencing a massive demand for property within Colombo and its suburbs. As new large-scale developments are rising in the city, many local and international investors are showing a keen interest in Sri Lanka’s real estate market. Luxury apartments are being constructed all over the city, attracting international businessman […]
PTL Watch: Yields steady, some foreign buying
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Sri Lankan rupee edges up on dollar sales by state bank
July 21, 2016 (Reuters) – The Sri Lankan rupee edged up on Thursday as dollar sales by a state bank outpaced the importer demand for the greenback, a day after a top central bank official said proceeds from a $1.5 billion sovereign bond issue, which dealers say would lift the local currency, have flowed in. […]
Malaysia Deputy PM to launch USD30mn lubricant plant in SL
July 21, 2016 (LBO) – Malaysia’s Deputy Premier Ahmed Zahid Hamidi is to visit Sri Lanka today to initiate the ground breaking ceremony of Hyrax Oil Sdn Bhd Lubricants’ proposed lubricant blending plant which will be setup in Muthurajawela. Hyrax Oil will invest 30 million US dollars to establish a four-million-litres-per-month lubricant blending plant in […]
Alok Sharma to take over Hugo Swire’s position as FCO Minister for Asia Pacific
Alok Sharma, MP for Reading West, has been appointed Under Secretary of State at the Foreign and Commonwealth Office with responsibility for Asia and the Pacific eventually taking over Minister Hugo Swire’s position in UK’s cabinet reshuffle. “I am honoured to have been appointed by the Prime Minister as Minister for Asia & the Pacific, hugely […]