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‘s Aitken Spence March 2014 quarter profits up 12-pct
May 27, 2014 (LBO) – Profits at Sri Lanka’s Aitken Spence, which has interests in leisure, logistics and power rose 12 percent from a year earlier to 1.36 billion rupees in the March 2014 quarter helped by tourism, interim accounts show. The firm reported earnings of 3.36 rupees per share for the quarter. In the […]
School System
May 27, 2014 (LBO) – Sri Lanka has started testing mathematics e-learning programs in the country’s school system to decide whether such courses should be used throughout the country, the Asian Development Bank said. Sri Lanka has a state-run school system with a centralized curriculum, and the Asian Development Bank. Courses from Khan Academy, a […]
Shifting Focus
WELLINGTON, May 27, 2014 (AFP) – People-smugglers are looking to target New Zealand now that Australia’s tough border protection policies have effectively “closed down” that country to asylum-seeker boats, Prime Minister John Key said Tuesday.While the voyage to New Zealand from places such as Indonesia and Sri Lanka is potentially far more perilous than trying […]
Tariff Dilemma
May 27, 2014 (LBO) – Sri Lanka’s telecom companies have to share networks and invest together to cut broadband costs as higher margin voice usage gives way to cheaper data based services, head of Dialog Axiata, the island’s largest mobile firm has said.Dialog group chief executive Hans Wijayasuriya said Sri Lanka has been recognized among […]
UN rights office condemns Maldives death penalty revival
GENEVA, April 29, 2014 (AFP) – The UN human rights office on Tuesday voiced concern over moves to revive the death penalty in the Maldives, including for minors, after a six-decade freeze on capital punishment in the Indian Ocean archipelago.“We are deeply concerned about a new regulation adopted in the Maldives on implementation of the […]
Pakistan India relations take surprising warmer turn with Modi
NEW DELHI, May 26, 2014 (AFP) – India’s Prime Minister Narendra Modi was expected to hold landmark talks with his Pakistani counterpart and announce his new cabinet Tuesday as he looked to hit the ground running on his first day in office. The morning after Modi and his slimmed-down team of ministers were sworn in, […]
Sri Lanka President, Indian PM discuss fishing, post-war reconciliation
May 27, 2014 (LBO) – Sri Lanka’s President Mahinda Rajapaksa had discussed the island’s post-war reconciliation process and an fishing dispute with India’s new Prime Minister Narendra Modi in New Delhi, his office said.“Both agreed that talks between the fishermen and the meeting of the joint committee of officials must continue,” the statement said.Sri Lanka […]
Sri Lanka borrows US$275mn from ADB for roads, education
May 27, 2014 (LBO) – The Asian Development Bank said it would loan 175 million US dollars to build roads and boost the state university system to generate graduates that more employable.ADB will give 100 million US dollars for Sri Lanka government’s skills sector development program which plans to reduce a mismatch between the competencies […]
Sri Lanka stocks close up 0.2-pct
May 26, 2014 (LBO) – Sri Lanka’s stocks closed up with telco and other index heavy stocks gaining despite low foreign participation, brokers said. Sri Lanka Telecom closed 70 cents higher at 48.80 rupees and Asian Hotels and Properties closed 2.10 rupees higher at 72.10 rupees, contributing most to the index gain. Lion Brewery Ceylon […]
Vehicle Trend
May 26, 2014 (LBO) – Sri Lanka’s commercial vehicle registrations continued were sharply down from a year earlier, especially trucks in April 2014, though motor cycle sales were up, an analysis by an equities research unit shows.Motor car registrations were flat at 1,917 units, only marginally down from 1977 units a year earlier. Among small […]