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Transparent Pricing
Sept 05, 2012 (LBO) – Indian Oil Corporation’s Sri Lanka unit, Lanka IOC has called for a pricing formula for retail fuels which keeps parity with import prices a call that has been echoed by other economists and analysts. “It would help everyone if the Government of Sri Lanka could evolve a long-term pricing formula […]
Sri Lanka stocks close up 1.5-pct
Sept 04, 2012 (LBO) – Sri Lanka stocks closed up for the fifth straight day gaining 1.5 percent with retail buying support and plantations related stocks moving up, brokers said. The Colombo All Share Price Index closed at 5,379.22 up 76.23 points and the S&L SL20 closed up 1.16 percent at 2,931.4 gaining 33.5 points. […]
Sri Lanka warns citizens against travel to Tamil Nadu
Sep 04, 2012 (LBO) – Sri Lanka has advised citizens not to travel to India’s Tamil Nadu state following a series of incidents which culminated in a group of pilgrims being forced to take refuge in a Catholic Church after they were mobbed. Jayalalithaa has objected to members of Sri Lanka’s military being trained in […]
Sri Lanka Brandix apparels cuts eco impact, sets new targets
Sept 04, 2012 (LBO) – Sri Lanka’s Brandix apparel group said it had set a target to cut its environmental impact by 20 percent in the next eight year after reaching an earlier milestone ahead of schedule. The firm had recycled 961,000 cubic metres of water or 44 percent of its total intake and collects […]
Sri Lanka tea estate export unit in profits
Sep 04, 2012 (LBO) – BPL Teas (Pvt) Ltd, a tea marketing unit of Sri Lanka’s Metropolitan group Bogawantalawa Estates Plc, has started making profits, chairman D J Ambani told shareholders. The tea growing parent firm said it lost money in tea with a 365 million rupee loss for the year partly due a steep […]
India promises safety as Sri Lankans tourists attacked for second day in Tamil Nadu
Sept 04, 2012 (LBO) – India’s central government is taking measures to ensure the safety of visiting Sri Lankans to the country, an Indian foreign ministry spokesman has said as tourists were targeted by Tamil Nadu protestors for the second day. On Monday Sri Lanka issued a travel advisory asking citizens not to travel to […]
Sri Lanka expects to commission 24MW power plant in Jaffna
Sept 04, 2012 (LBO) – Sri Lanka expects to connect a 24MegaWatt heavy fuel oil fired power plant to boost supply to the northern Jaffna peninsula by January 2013, the island’s power ministry said. The 4.0 billion rupees plant is designed and built for the Ceylon Electricity Board by Lakdhanavi, an affiliated firm. Three 8.6MW […]
Sri Lanka Heritance bags green tourism awards
Sept 03, 2012 (LBO) – Sri Lanka’s Heritance Hotels and Resorts, a brand of the island’s Aitken Spence group has won top green awards at a competition organized by the state tourism promotion agency. The awards for best employee of the year, and best restaurant manager of the year went to Kumara Karunaratne and Tushara […]
Sri Lanka small passenger aircraft targeted by Mahindra Aviation
Sept 03, 2012 (LBO) – India’s Mahindra group is targeting Sri Lanka with its range of small passenger aircraft which can boost domestic and short range air travel between neighboring destinations including the Maldives, a top executive said. The group’s chief of strategy, Shiprakash Shukla said its small aircraft is ideal to take smaller groups […]
Market Eye
Sept 03, 2012 (LBO) – Lanka IOC, a unit of Indian Oil Corporation said it had exported 118. 6 million US dollars of ‘SERVO’ branded lubricants and was planning to boost foreign sales further in the current year. …[I]t has been decided to further expand our business to South-East Asian countries by appointingLube Distributors in […]