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Language Space
July 13, 2011 (LBO) – A view that Sri Lanka’s information technology and business process outsourcing industry needs only workers who are fluent in English is a “fallacy” the head of a firm catering to the European market said. Mano Sekeram, chief executive of Eurocentre, a software engineering firm said, in most countries with which […]
Mobile Momentum
July 13, 2011 (LBO) – Sri Lanka Telecom is to invest five billion rupees in its mobile phone subsidiary for modernisation and expansion, a stock exchange filing said. “This investment will be on a staggered basis and is expected to be made within a period of six months,” SLT said. The investment will be for […]
” causes upset
MUMBAI, July 13, 2011 (AFP) – Bollywood superstar Aamir Khan’s new film has been a hit at the box office but has also led to protests and even a court case against its dialogue and content, which critics say is vulgar and offensive. The screwball comedy “Delhi Belly”, starring the actor-producer-director’s nephew Imran Khan, revolves […]
Sri Lanka to revive export show after end of war
July 13, 2011 (LBO) – Sri Lanka is to revive an international export exhibition after 15 years to promote the island’s exports and attract foreign investments after the end of its 30-year ethnic war. The event is being organised by the Export Development Board responsible for promoting exports during March 28 – 30, 2012 at […]
Sri Lanka Treasuries yields steady
July 12, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at this week’s auction with the 3-month yield flat at 7. 11 percent, the government’s debt office said. The government sold 1.0 billion rupees in 3-month bills, 6. 6 billion in 6-month bills and 7.8 billion in 12-month bills. The 6-month yield slipped 02 […]
Sri Lanka stocks down 1.5-pct
July 12, 2011 (LBO) – Sri Lanka stocks slumped again Tuesday, dropping 1.54 percent amid continued forced selling with Softlogic Holdings falling below its Initial Public Offer (IPO) price on its trading debut. The main All Share Price Index closed at 6,663.64, down 1.54percent (103.95 points) while the more liquid Milanka index fell 1.76 percent […]
Cruise Call
July 12, 2011 (LBO) – A cruise liner service between India and Sri Lanka that was to start in early July 2011 has been delayed as government approvals are being awaited, an official said. Ceyline has tied up with Chennai-based AMET Shipping to operate a cruise ship between Chennai and Trincomalee that was also to […]
Sri Lanka agro chemical firms forecast pesticide shortfalls
July 12, 2011 (LBO) – A group of agro firms have warned that Sri Lanka may run short of pesticides for the next growing season unless a controversy over the presence of arsenic is resolved quickly with independent testing. ‘Croplife Sri Lanka’ an industry grouping representing 26 agro chemical firms said arsenic is not an […]
Port Closed
WELLINGTON, July 11, 2011 (AFP) – New Zealand has refused entry to a boat load of Sri Lankan asylum seekers, saying it would only open the door to “millions of others” and reward people smugglers. A boat containing about 85 Sri Lankans who said they were heading to New Zealand was detained in Indonesian waters […]
Sri Lanka Softlogic to buy insurer
July 12, 2011 (LBO) – Sri Lanka’s Softlogic Holdings group is buying a 73. 5 percent stake in Asian Alliance Insurance, a listed insurer for 3,308 million rupees, the company said in a stock exchange filing. Softlogic Holding group will buy 53. 16 percent of Asian Alliance held by Asia Capital PLC and its subsidiaries […]