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Sri Lanka stocks becalmed
Sep 09, 2011 (LBO) – Sri Lankan stocks closed almost stagnant Friday with interest in shares that had been subject to speculative trading in recent weeks, brokers said. The main All Share Price Index fell 0.02 percent (1.27 points) to 6,990.33, while the more liquid Milanka index fell 0.11 percent (6.72 points) to close at […]
Rural Links
Sept 09, 2011 (LBO) – Cleveland Bridge UK has signed a 56 million US dollar contact with Sri Lanka’s Ministry of Economic Development to provide up to 210 bridges in rural locations island-wide including in the former north-east war zone. The project will be backed by the UK government’s Export Credit Guarantee Department (ECGD), the […]
Sri Lanka tea seen threatened by climate change
Sept 09, 2011 (LBO) – Climate change brought about by global warming could threaten the famed quality of Sri Lanka’s tea, the island’s main agriculture export and its best known brand, a new report said. “Could this be the beginning of a shift in the global tea cultivation map? ” the brokers asked. “The impact […]
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ISLAMABAD, September 8, 2011 (AFP) – Pakistan and Iran on Thursday said a multi-billion-dollar gas pipeline between the two countries was pressing ahead on schedule despite US objections to the project. The two signed an export deal last year for Iran to supply natural gas to its eastern neighbour from 2014, with sales to reach […]
Sri Lanka power utility battles monsoon failure
Sept 09, 2011 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board which has been badly hit by a failure of the island’s main monsoon is expecting about 6 billion rupees of losses in 2011, due to extra thermal generation. Peak Management Sri Lanka’s evening peak load is about 2,000MW now, without counting mini-hydro capacity. The […]
Sri Lanka to start diplomatic relations with El Salvadore
Sept 09, 2011 (LBO) – Sri Lanka will start diplomatic relations with El Salvadore, a small state in Central America, deputy economic development minsiter Lakshman Abeywardene, said. He said Sri Lanka’s envoy to Brazil will also be accredited to El Salvador. Abeywardene said over the past five years trade between the two countries has started […]
Sri Lanka waste management, energy may get UNIDO support
Sept 09, 2011 (LBO) – A United Nations industrial development body is considering giving support to Sri Lanka in the areas of waste management and energy, seen as important for growth. New Delhi-based UNIDO Deputy Representative for South Asia Antonios Levissianos said there was potential to generate energy from waste. “Waste management can be an […]
Sri Lanka stocks end weaker
Sep 08, 2011 (LBO) – Sri Lankan stocks closed weaker Thursday with interest in a coconut products exporter and continued buying of John Keells Holdings, after Wednesday’s deals, as well as in CT Holdings, brokers said. Ceylon Tea Brokers was among the most heavily traded stocks, closing at 8.40 rupees, up 40 cents, with over […]
Sri Lanka tea prices recover
Sep 08, 2011 (LBO) – Prices of teas made by Sri Lankan plantation company estates rose this week although still below production cost as supply fell and demand improved with brokers saying the market seems to have bottomed out. There was good demand at the Colombo auctions with improved buying mainly from shippers to the […]
Broadcast Business
Sep 08, 2011 (LBO) – Sri Lanka’s East West Properties has spent 49.3 million rupees to buy control of People’s Media Network which operates radio and television broadcasting stations. A stock exchange filing said East West Properties, controlled by businessman Nahil Wijesuriya, bought 4.9 million ordinary shares or a 51 percent stake in People’s Media […]