All Blogs
Sri Lanka Browns to increase hydropower generation
Aug 31, 2011 (LBO) – Sri Lanka’s Browns Investments has said it plans to make use of its plantations to generate more hydropower and increase capacity to 16 megawatts and sell electricity to the national grid. Free Lanka Capital Holdings, a joint venture between Browns and Perpetual Holdings, is the holding company of Pussellawa and […]
Pakistan announces Sri Lanka itinerary
KARACHI, August 30, 2011 (AFP) – Pakistan announced Tuesday the itinerary for their autumn series against Sri Lanka to be played in the neutral territory of the United Arab Emirates. Pakistan have been forced to play on foreign soil since a terrorist attack on the Sri Lankan team bus in Lahore two years ago shattered […]
Sri Lanka accountants meet to mull new rules, post-war prospects
Aug 31, 2011 (LBO) – Post-war business opportunities and the transition to new global accounting rules will be among the topics to be discussed at a conference organised by the Institute of Chartered Accountants of Sri Lanka. Mudalige said demand for conference participation has grown so much that they had to hold it at the […]
Sri Lanka stocks end up 0.6-pct
Aug 30, 2011 (LBO) – Sri Lanka’s stock market closed higher Tuesday with heavy trading in a hotel share and continued interest in a newly listed tea exporter boosting turnover, brokers said. The main All Share Price Index closed at 6,879.29, up 0.61 percent (41.94 points) while the more liquid Milanka index rose 0.17 percent […]
Vessel Hire
Aug 30, 2011 (LBO) – Sri Lanka’s Mercantile Shipping Company is renegotiating vessel hire fees and trying a profit-share deal after slipping into the red last year when it was forced to reduce charter rates. But the company also managed to reduce loan repayments, has stable cash flows and anticipates a market recovery, chairman A […]
Sri Lanka Browns to build hotels on tea plantations
Aug 30, 2011 (LBO) – Sri Lanka’s Browns Investments plans to build boutique hotels on two tea estates in the island’s central hills as it diversifies into the rapidly growing tourism industry. The island’s tourism industry has been growing rapidly with a sharp increase in arrivals after the end of the 30-year ethnic war in […]
Sri Lanka could boost Indian tourists 6-fold over decade: equities report
Aug 30, 2011 (LBO) – Sri Lanka could attract 750,000 tourists from India over the next decade, or six fold if Sri Lanka can capture just 2. 4 percent of that country’s outbound market, an equities research report said. Even if Sri Lanka maintains its current market share of 1. 4 percent, the island could […]
Radiation Warning
Aug 30, 2011 (LBO) – Sri Lanka’s power ministry has warned the public against using unlicensed x-ray machines saying they could expose patients to excessive radiation that could affect their health. Patients using unlicensed machines may not be able to get correct x-ray images and may expose themselves to unnecessary doses of radiation when repeating […]
Compounded
Aug 30, 2011 (LBO) – Sri Lanka’s securities watchdog has fined Environmental Resources Inc and several officers, over a disclosure related offence, market sources said. Sri Lanka’s Securities and Exchange Commission earlier sent the firm a notice of action, over a disclosure related matter. Under Sri Lanka’s securities law, a person charged with securities fraud […]
‘s killers
CHENNAI, August 30, 2011 (AFP) – Judges in Chennai on Tuesday delayed by two months the execution of three men convicted of the 1991 assassination of former Indian prime minister Rajiv Gandhi. The three men were due to be hanged on September 9 at a jail in the southern state of Tamil Nadu after India’s […]