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Sri Lanka city hotel lose Rs2.3mn in June quarter
Aug 05, 2011 (LBO) – Hotel Services (Ceylon) PLC, owners of Continental, the oldest 5-star hotel in Sri Lanka’s capital Colombo said it lost 2.3 million rupees in the June 2011 quarter, though revenues rose 24 percent to 136 million rupees. The new owners have said they planned to expand and upgrade the hotel. The […]
Sri Lanka Sunshine group June net hit by wage hike
Aug 05, 2011 (LBO) – Sri Lanka’s Sunshine Holdings said June 2011 quarter net profit fell 46 percent to 63 million rupees from a year ago as earnings from plantations were eroded by a wage hike given to workers. Work on two other power projects is to begin soon ensuring the firm achieves its target […]
Pay TV
Aug 05, 2011 (LBO) – Sri Lanka’s Dialog Television, a top pay TV operator which is a unit of telecom operator Dialog Axiata said subscribers grew 16 percent by end June 2011 to 184,000 from a year earlier, and its cash flows strengthened. The firm said revenues rose 11 percent to 1. 1 billion rupees […]
Flowing water on Mars sparks new hunt for life traces
WASHINGTON, August 5, 2011 (AFP) – Scientists have found evidence of flowing salt water on steep Martian slopes, which if confirmed would be the first discovery of active liquid water on the red planet, NASA said Thursday. The data gathered by the Mars Reconnaissance Orbiter has given new focus to the hunt for life forms […]
Sri Lanka former war zone gets apparel factory
Aug 05, 2011 (LBO) – Calzedonia Finanziaria of Luxembourg has started building an apparel factory in Sri Lanka’s northern Vavuniya expected to start in October 2011 that will employ 1,500 people when it reaches full capacity. It now employs over 3,000 people to manufacture lingerie and has made total investments of about 45 million dollars […]
‘ complaint
GENEVA, August 4, 2011 (AFP) – Two rights groups said Thursday they have brought to Swiss authorities a criminal complaint against a Sri Lankan diplomat and former general, Jagath Dias, over alleged war crimes. The Swiss attorney-general’s office confirmed that it has received the complaint filed by the Society for Threatened Peoples and TRIAL (Track […]
Sri Lanka stocks flat
Aug 04, 2011 (LBO) – Sri Lankan share prices remained flat for the second straight day with marginal drops in both indices and low turnover, brokers said. East West Properties closed at 21. 50 rupees, up 1.90 with 5.28 million shares done. The main All Share Price Index closed at 6,809. 78, down 0.04 percent […]
Circular Road
Aug 04, 2011 (LBO) – Metallurgical Corporation of China, a Chinese state-run building and engineering firm is to design and build a section of a highway around the capital Colombo that will connect three other expressways now under construction. The Colombo-Katunayake Expressway is to be completed by end of 2012 and the first two phases […]
Port Plants
Aug 04, 2011 (LBO) – The Sri Lankan government has approved the award of contracts for manufacturing plants in a new port in the south where a remaining rock obstacle will be blasted soon to enable big ships to enter. “Port development takes a good 5-10 years to develop. Today we are competing with other […]
Logistics Net
Aug 04, 2011 (LBO) – Profits at Sri Lanka’s Expolanka group, whose key business is in logistics, rose 15 percent to 273 million rupees in the June 2011 quarter from a year earlier, helped by lower interest and taxes, interim accounts showed. Finance costs fell 40 percent to 30 million rupees. The firm raised money […]