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Sri Lanka arrests Indian fishermen after Modi talks
COLOMBO, June 1, 2014 (AFP) – Sri Lanka’s navy said Sunday it had seized 29 Indian fishermen, the first arrests since President Mahinda Rajapakse and India’s new premier held talks on resolving the thorny issue of poaching. The navy arrested the Indians along with six trawlers off the island’s northwest coast on Sunday, a navy […]
”’ business hotel on track
May 31, 2014 (LBO) – John Keells Holdings said its ‘Cinnamon Red’ business hotel in Sri Lanka’s capital Colombo will open during the current financial year.JKH which also has resorts in the Maldives, said occupancy there was also higher with a 17 percent gain in arrivals. The 240-room building is now under construction and will […]
Cricket: Ton-up Sangakkara rallies Sri Lanka
LONDON, May 31, 2014 (AFP) – Kumar Sangakkara’s first century at Lord’s saw Sri Lanka bounce back in the fourth one-day international against England on Saturday.Just days after they’d been shot out for 67 at Old Trafford, Sri Lanka made 300 for nine after being sent into bat. Sangakkara’s 112 — his first hundred at […]
Distilleries Company of Sri Lanka sees revenue pick up
May 31, 2014 (LBO) – Distilleries Company of Sri Lanka, the island’s largest alcohol maker which was hit by tax hikes and incomes decimated from currency depreciation, reported a small increase in gross revenues in the March 2014 quarter. DCSL said revenues with taxes rose 1.8 percent to 12.9 billion rupees in the March 2014 […]
Sri Lanka stocks close down 0.6-pct
May 30, 2014 (LBO) – Sri Lanka’s stocks closed down 0.64 percent on Friday with diversified, food and tobacco stocks losing ground despite net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 40.31 points lower at 6,263.46 down 0.64 percent. The S&P SL20 closed 32.08 points lower at 3,454.61, down 0.92 […]
‘s Noorani Estates plans expansion, possible listing
May 30, 2014 (LBO) – Sri Lanka’s Noorani Estates (Pvt) Ltd, a poultry firm that operates under the brand Nelfarms is planning to invest over one billion rupees over three years to expand, with a possible stock exchange listing also on the cards, a top official said.“We are very bullish about the industry,” Noordeen Sethwala, […]
England skipper worried about keeper in Sri Lanka series
MANCHESTER, May 30, 2014 (AFP) – Alastair Cook’s focus may be on the ongoing one-day series with Sri Lanka but the fitness of wicketkeeper Matt Prior ahead of the Test matches with the tourists is a concern for the England captain.Established Test gloveman Prior was dropped from the side during the team’s 5-0 Ashes thrashing […]
‘s inflation at 3.2-pct in May 2014
May 30, 2014 (LBO) – Sri Lanka’s consumer prices rose 3.2 percent in the year to May 2014, slowing from 4.9 percent in April, though prices rose 0.6 percent during the month, data from the state statistics office showed. As credit is weak the exchange is facing appreciation pressure, but the Central Bank has kept […]
Sri Lanka economic outlook positive; should watch external shocks, drought: IMF
May 30, 2014 (LBO) – The outlook for Sri Lanka’s economy was positive with low inflation and stronger growth driven by exports, but the country should watch out for a slowdown in developed nations and a domestic drought, an International Monetary Fund official said.Todd Schneider, who headed mission for annual ‘Article IV’ consultations, said recent […]
Sri Lanka seeks JVs with foreign investors to cater to domestic market
May 30, 2014 (LBO) – Sri Lanka wants foreign investors to set up joint ventures where the output will be allowed to be sold to the domestic market, investment promotion minister Lakshman Abeywardena said, amid fears of new protectionism.When import duty protected industries expand, the state also loses tax revenues as taxes that would have […]