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Bank Profits
July 28, 2011 (LBO) – Sri Lanka’s Sampath Bank group’s net profits in the June 2011 quarter rose 52 percent to 1. 13 billion rupees from a year earlier partly helped by a provision reversal amid strong loan growth, provisional accounts showed. The group reported 7.26 rupees of earnings per share for the quarter. Interest […]
Sri Lanka develops 5-year tourism strategy
July 28, 2011 (LBO) – Sri Lanka has formally approved a five year strategy to develop the tourism sector including domestic tourism as arrivals go up after a 30-year war, the government’s information office said. The cabinet of ministers had approved the plan submitted by the ministry of economic development, headed by minister Basil Rajapaksa. […]
Sri Lanka tour firm moves to SUVs
July 28, 2011 (LBO) – Sri Lanka’s Walkers Tours, a tour operator of the John Keells Holdings group said it had added a fleet of sports utility vehicles which will allow tourists to explore remote attractions. “[T]he ultimate objective of this scheme is to benchmark our service levels against the best in the region,” JKH […]
Sri Lanka former war-torn areas get cold chain
July 28, 2011 (LBO) – Sri Lanka’s John Keells Holdings backed by the US Agency for International Development will build a ‘cold chain’ to bring fishery and agricultural produce from former war torn regions to the market. Sri Lanka’s Hayleys group and USAID are also involved in a project to grow and export fruits and […]
Ford announces new $1 billion plant in India
NEW DELHI, July 28, 2011 (AFP) – US auto giant Ford said Thursday it would invest $1 billion to build a second vehicle assembly and engine plant in India as it ramps up production to exploit the country’s burgeoning car market. India has become a battleground for global car manufacturers such as Ford, GM and […]
Asia security needs India, Australia says
WASHINGTON, July 28, 2011 (AFP) – Australia’s defense minister on Wednesday urged a greater role in Asia for India, calling the world’s largest democracy a positive force in a region where attention has long been focused on China. Defense Minister Stephen Smith made his appeal in Washington one week after US Secretary of State Hillary […]
Sri Lanka to recapitalize state airlines with US$500mn
July 28, 2011 (LBO) – Sri Lanka’s loss making state airlines will be recapitalized with equity of 500 million US dollars over five years to improve their gearing and allow them to acquire new aircraft, information minister Keheliya Rambukwelle said. The airline has also leased a fleet of newer A320s to upgrade its fleet. Sri […]
Sri Lanka rejects new war crimes charge
July 28, 2011 (AFP) – Sri Lanka’s military Thursday rejected new allegations that its political bosses ordered the execution of surrendering Tamil rebels during the final days of the island’s separatist war. Reacting to a new broadcast from Britain’s Channel 4 that accused defence secretary Gotabhaya Rajapakse of ordering executions, military spokesman Ubaya Medawela dismissed […]
Sri Lanka Treasuries yields flat
July 27, 2011 (LBO) – Sri Lanka Treasuries yields were flat at Wednesday’s auction with yields flat across maturities, data from the government’s debt office said. The 3-month yield was at 7.11 percent, the 6-month yield was at 7. 19 percent and the 12-month yield was at 7. 25 percent, unchanged from a week earlier. […]
Sri Lanka stocks close up 0.18-pct
July 27, 2011 (LBO) – Sri Lankan stocks close up for the second straight day, with recently listed Swarnamahal Financial Services, dominating trading brokers said. The benchmark All Share Price Index up 0.18 percent or 11.98 points to 6,505.56, while the Milanka Index of more liquid stocks closed up 0.26 percent (0.57 points) to 5,943.91, […]