Sri Lanka’s Export earnings during the month of April have grown by 37.2% to bring in a sum of US$ 746 million, with textiles and garments contributing heavily.
The export earnings from Textiles and Garments during month have seen an increase of 32.89% compared to last years same month to earn US$ 302.29 million.
Meanwhile, the import [...]
July 11, 2011 10:36 AM | Posted in
Economy |
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Titus Jayawardena “paid the price”
The concluded week saw Titus Jayawardena, who was the Secretary to the Ministry of Petroleum and Petroleum Resources Development paying the price for importing a stock of petrol by going out of the normal procedure.
Later on, it was found that the imported petrol stock was of low quality thus impacting vehicles.
The [...]
July 10, 2011 9:55 AM | Posted in
Other |
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Aureos Capital, emerging markets private equity fund manager focused on the SME space, has started raising its second fund which will invest in India and also operate in Sri Lanka and Bangladesh.
Aureos India Fund II is targeting $200 million and will be a successor to Aureos South Asia Fund, which had already raised around $200 [...]
July 9, 2011 8:52 AM | Posted in
Markets,
Markets,
Stock Market |
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Sri Lanka is planning to conduct a Mobile Consular service to help the war affected Northern public to obtain information regarding their spouse, family members and relatives working overseas.
The service also will help to repatriate stranded Sri Lankans.
Apart from those, the service will issue “Attestation” of birth, death and marriage certificates, and police clearance certificates [...]
July 8, 2011 1:27 PM | Posted in
Other |
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The Government has approved changes to the ongoing oil & gas drilling program in the Gulf of Mannar basin, as requested by the explorer Cairn Lanka.
Cabinet Spokesman Keheliya Rambukwella said, “A thorough interpretation of the seismic survey conducted by the company has revealed that changes in the drilling programme are necessary”.
The explorer has said owing [...]
July 8, 2011 9:57 AM | Posted in
Economy |
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Sri Lanka has kept its key policy rates for the month of July unchanged taking into consideration the continued decline in headline inflation and other macroeconomic developments.
Accordingly, the Bank’s Repurchase rate will remain at 7% and it Reverse Repurchase rate will stay at 8.50%.
Monetary Authorities say the expanded productive capacity of the economy will help [...]
July 8, 2011 8:11 AM | Posted in
Economy |
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The inaugural edition of the Sri Lanka Premier League, after facing a series of problems including the withdrawal of Indian players from the tournament, has been postponed to August 2012.
Sri Lanka will have the domestic Twenty20 league in its place featuring five teams, but that will not involve any foreign players.
It is likely that the [...]
July 8, 2011 7:17 AM | Posted in
Other,
Sports |
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Goodhope Asia Holdings Limited of Carson’s group has acquired three of the operating entities of Premium Nutrients Bhd, a specialty fats manufacturer which has operations in Malaysia and India.
Accordingly, the GAHL has taken over 100% stakes of Premium Oils Sdn.Bhd, and Premium Fats Sdn.Bhd, each having manufacturing facilities in Malaysia.
It has also taken over the [...]
CHENNAI: With a view to provide tourists visiting Colombo via a ship from Tuticorin with a unique holiday experience, Flemingo Liners, the international passenger ferry service operating in the sector, has launched a “Drive in-Drive out” facility on its vessel Scotia Prince.
According to the ferry operator, this new facility will enable tourists to take their [...]
July 7, 2011 3:25 PM | Posted in
Tourism |
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The Initial Public Offering of the Textured Jersey Lanka Limited has been oversubscribed within the first few hours of its opening which took place this morning.
As a result, the Company has decided to close the subscription list by today 4.30 PM.
Textured Jersey Lanka Limited a specialized fabrics manufacturer is planning to raise Rs. 1.2 billion [...]
July 7, 2011 2:37 PM | Posted in
Markets,
Stock Market |
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