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Sri Lanka Renuka Agri Foods to buy dairy firm
Jan 17, 2012 (LBO) – Sri Lanka’s Renuka Agri Foods plans to buy control of Richlife Dairies Limited, a manufacturer of dairy and fruit products, a stock exchange filing said. Renuka Agri Foods said it has signed an agreement to purchase 76 percent of the issued capital of Richlife Dairies. The deal grants Renuka Agri […]
Bilateral Links
Jan 17, 2012 (LBO) – Sri Lanka and India have signed an agreement to set up a mechanism of technical and institutional cooperation in telecommunications. The memorandum of understanding is between the Telecom Regulatory Authority of India (TRAI) and Telecommunication Regulatory Commission of Sri Lanka (TRCSL). The deal was signed during a visit to the […]
Sri Lanka govt probe seen failing to win confidence of Tamils
Jan 16, 2012 (LBO) – Sri Lanka’s main minority Tamil political party has rejected a government investigation into the ethnic war, saying it lacked credibility and even its interim recommendations a year ago were not implemented. The commission also recommended that people who are discharged be given a certificate to prevent being re-arrested but even […]
Sri Lanka, India fisheries talks soft on poaching
Jan 15, 2012 (LBO) – Talks between India and Sri Lanka on fisheries have ended with no deal on firm action to stop poaching by south Indian fishermen in the island’s northern waters. “Acknowledging that fisheries involved the socio-economic and livelihood dimensions of the fishermen living in coastal areas in India and Sri Lanka, the […]
Sri Lanka leads on low holiday costs: UK survey
Jan 14, 2011 (LBO) – Sri Lanka is leading on low holiday costs for Britons with competitive prices for eight popular holiday items surveyed including a dinner for two, an annual survey by UK’s Post Office showed. Sri Lanka had the lowest holiday costs among 40 destinations surveyed at 27. 95 British pounds down 31 […]
Infosys says on track to meet 45,000 hiring target
BANGALORE, (Asia Pulse) – India’s Infosys Technologies said it is well on track to meet its target of hiring 45,000 persons this fiscal year and will focus on local hiring. “People addition is on track for 45,000 (employee hiring) target for the financial year 2012. The company will focus on local hiring.We have hired 1,000 […]
Sri Lanka to expand food stamps to former war zones
Jan 13, 2012 (LBO) – Sri Lanka will expand a food stamp scheme to former war zones in the east adding an estimated 100,000 families to 1. 5 million already on the scheme, deputy economic development minister Lakshman Abeywardene said. “We did not want to remove the program until their incomes are stable. “We have […]
Sri Lanka expects most FDI for infrastructure in 2012
Jan 13, 2012 (LBO) – Sri Lanka is expecting most of the two billion US dollars of foreign direct investment targeted for 2012 to flow into infrastructure with 400 million US dollars going into tourism, an official said. Head of Sri Lanka’s Board of Investment, M M C Ferdinando said about a billion US dollars […]
Sri Lanka stocks end down 0.2-pct
Jan 13, 2012 (LBO) – Sri Lankan stocks closed weaker Friday, losing some of the gains in Thursday’s rally, although turnover stayed above a billion rupees, brokers said. The main All Share Price Index closed down 0. 22 percent (13.13 points) at 5,929.34, while the more liquid Milanka index fell 0. 39 percent (19.59 points) […]
Terminal Talks
Jan 13, 2012 (LBO) – Sri Lanka’s Aiken Spence group has confirmed it was renegotiating a contract to build a deep-water container terminal with a Chinese shipping group after reports that it would pull out as costs had escalated beyond its means. Aitken Spence had reportedly been forced to pull out of the deal, the […]