US housing recovery gains strength

Published : 12:55 am  April 17, 2013  |  Category: Other Sectors  |  Leave a Comment  |  409 views  |  

NEW YORK (CNN Money): The housing market recovery picked up steam in the final three months of last year, with prices rising at an annual rate of 7.3%, according to S&P Case-Shiller, while a Government report showed sales of new homes also shot up higher. The home price increase marks the third straight quarter of year-over-year gains. The price report covered 20 major housing markets.  Read More →

March housing starts rise to highest since 2008

Published : 12:54 am  April 17, 2013  |  Category: Other Sectors  |  Leave a Comment  |  410 views  |  

WASHINGTON (Reuters): Groundbreaking to build new homes rose in March to the highest level since 2008, adding to evidence of a healthier housing market.  Read More →

Blackstone expands capacity to buy US homes

Published : 12:52 am  April 17, 2013  |  Category: Other Sectors  |  Leave a Comment  |  356 views  | Blackstone Group, the largest institutional investor in US housing, has expanded its credit line to buy distressed homes to US$ 2.1 billion, according to people familiar with the deal. Deutsche Bank is leading a syndicate of US banks, including J.P. Morgan, Credit Suisse, Bank of America and Goldman Sachs, to increase the US$ 600 million in initial funding that Blackstone secured last year. Blackstone had sought to at least double this credit line. Blackstone and Deutsche Bank declined to comment.  Read More →

Pathfinder Economic BLAST: Changing the pillow to cure the headache

Published : 12:27 am  April 11, 2013  |  Category: Other Sectors  |  2 Comments  |  780 views  |  

Tariff adjustment without restructuring the CEB Welcome public hearing  The Pathfinder Foundation (PF) welcomes the efforts currently underway to address the chronic losses incurred by the CEB; and congratulates the Public Utilities Commission of Sri Lanka (PUCSL) and other stakeholders for conducting a professional Public Hearing. PUCSL is also to be commended for its proactive stance in cutting the costs put forward by the CEB to the tune of Rs. 40 billion.  Read More →

Bribery Chief presiding over private arbitration put in issue in High Court!

Published : 12:25 am  April 11, 2013  |  Category: Other Sectors  |  1 Comment  |  1,069 views  |  

Legal circles already in great turmoil over the impeachment of the Chief Justice are expressing the stern view that the Bribery Chief should also be removed for inappropriate unbecoming conduct as the holder of the highest office as Bribery Commissioner, whose conduct should be above board leaving no room for any perception of suspicion, akin to Caesar’s wife.  Read More →

Cairn India makes 26th oil discovery in Rajasthan

Published : 1:29 am  April 10, 2013  |  Category: Other Sectors  |  Leave a Comment  |  727 views  |  

Cairn India, the company which discovered hydrocarbon deposits in the Mannar basin, on Tuesday announced that it has made the 26th oil discovery in its prolific Rajasthan block in India.  Read More →

Dole addresses Delhi Petrochemical Conclave

Published : 1:28 am  April 10, 2013  |  Category: Other Sectors  |  Leave a Comment  |  899 views  |  

Plastics and Rubber Institute of Sri Lanka President Anver Dole addressed the Petrochemicals Conclave 2013, at the award-winning Leela Kempinski Hotel Gurgaon New Delhi recently, on the invitation of the giant Indian oil corporation, which ranked 83 in the Fortune ‘Global 500’ listing in 2012. With its theme South Asia-land of opportunities, the conclave explored various opportunities available in South Asia for trade in the petrochemical industry along with innovations in technologies and investment.  Read More →

Gasoil margins climb on Sri Lankan demand, China fire

Published : 1:27 am  April 10, 2013  |  Category: Other Sectors  |  Leave a Comment  |  1,336 views  |  

SINGAPORE, April 9 (Reuters) – Asian gasoil margins climbed on Tuesday as spot demand emerged from Sri Lanka’s Ceylon Petroleum Corp after a few months of absence and following a fire at a secondary unit in a Sinopec refinery, industry sources said.  Read More →

SriLankan Cargo on course for record-breaking year

Published : 12:32 am  April 10, 2013  |  Category: Other Sectors, Shipping / Aviation  |  Leave a Comment  |  1,250 views  |  

SriLankan Cargo, the cargo arm of SriLankan Airlines, has handled a record volume of 17,329 metric tons of cargo in March, the highest volume of cargo ever, handled within in a single month. The month’s total exceeds July 2012 total of 16,136 metric tons.  Read More →

SL’s footwear and leather value addition a strong 45%: Rishard

Published : 1:12 am  April 4, 2013  |  Category: Other Sectors  |  Leave a Comment  |  1,140 views  |  

Sri Lanka’s footwear and leather sector is not only an employer with promise but also demonstrates significant value addition. Meanwhile, the sector praised the Government for its initiatives but says the emerging ‘footwear assembly sector’ is a threat to the industry.  Read More →

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