Sri Lanka eco-friendly hotel in Sigiriya

July 29, 2014 (LBO) - A 650 million rupees eco-friendly hotel will be build in Sigiriya in central Sri Lanka by Union Resorts and Spa Ltd, the state investment promotion agency said.

The hotel branded Water Gardens will have 30 luxury villas will us renewable resources and be eco-friendly, with a reduced 'carbon footprint' the Board of Investment of Sri Lanka which gives tax breaks to new projects, said.

The hotel is designed by Channa Daswatte, a protégé of famed Sri Lankan architect Geoffrey Bawa.

Sigiriya in Central Sri Lanka is located on the so-called 'cultural triangle' area which is dotted with ancient ruins.

Sigiriya itself is a UNESCO world heritage site with ruins of an ancient structure built on and around a rock standing out from a plain. The rock itself is surrounded by water gardens.

Sri Lankan stocks steady ahead of holiday

(Reuters) - Sri Lankan stocks ended little-changed on Monday in thin trade ahead of a holiday, but sentiment was still positive on expectations of strong corporate earnings after market heavyweight John Keells Holdings' upbeat earnings.

The main stock index ended 0.01 percent, or 0.63 points, higher at 6,784.27. It has gained 6.4 percent so far this month.

The bourse and the foreign exchange markets will be closed on Tuesday for the Muslim Eid festival and normal trading will resume on Wednesday.

"Bit of a dull day because it is in between two holidays," said Dimantha Mathew, manager of research at First Capital Equities (Pvt) Ltd in Colombo.

Turnover was 493 million rupees ($3.8 million), the lowest since June 26 and well below this year's daily average of about 1.09 billion rupees.

Foreign investors were net buyers of 118.4 million rupees worth of shares on Monday, extending the year-to-date net foreign inflow in shares to 10.71 billion rupees.

Analysts said profit-taking could be seen as some shares are overheated but expect corporate earnings to be better.

The index has been in the overbought region since July 3, having risen 14.74 percent so far this year as local investors moved funds from fixed income to riskier assets because of low interest rates.

Shares of Good Hope Plc, which moved up the index, jumped 24.67 percent to 1,870 rupees on just two trades, while Cargills (Ceylon) Plc rose 3.20 percent to 154.80 rupees.

Conglomerate John Keells Holdings Plc, which posted a 35 percent growth in its June quarter profit, fell 0.29 percent to 238 rupees. Analysts said investors sold the stock, saying it was overheated. 

($1 = 130.1800 Sri Lankan Rupees) 

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Prateek Chatterjee)

Sri Lanka shares close higher

July 28, 2014 (LBO) - Sri Lanka's shares closed higher on Monday with oil palm firms gaining amid weak foreign buying, brokers said.

The Colombo benchmark All Share Price Index closed 0.63 points higher at 6,784.27, up 0.01 percent. The S&P SL20 closed 3.47 points lower at 3,761.43, down 0.09 percent.

Turnover was 493.10 million rupees, down from 1.23 billion rupees last Friday with 101 stocks closed positive against 88 negative.

F L C Holdings closed 10 cents higher at 2.20 rupees, attracting most number of trades during the day.

Foreign investors bought 136.65 million rupees worth shares while selling 18.23 million rupees worth shares.

Carson Cumberbatch’s oil palm firms Good Hope closed 370.00 rupees higher at 1,870.00 rupees and Shalimar (Malay) closed 144.20 rupees higher at 2,000.00 rupees, contributing most to the index gain.

Cargills Ceylon closed 4.80 rupees higher at 154.80 rupees and Ceylon Tobacco Company closed 28.40 rupees lower at 1,101.10 rupees.

John Keells Holdings closed 70 cents lower at 238.00 rupees.

JKH’s W0022 warrants closed 1.00 rupee higher at 65.00 rupees and its W0023 warrants closed 2.20 rupees higher at 74.00 rupees.