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Domain Expertise
July 8, 2011 (LBO) – Virtusa a US based firm which has a development centre in Sri Lanka, has bought ALaS, a New York based consultancy for banking, financial services, insurance and capital market industries. The acquisition will allow the firm to “take on the downstream technology implementation and strengthen Virtusa’s strategic position across its […]
Problems mount for Sri Lankan cricket
July 8, 2011 (AFP) – Only three months ago, Sri Lanka were battling it out with India in the World Cup final but they have since gone from controversy to scandal to full-blown crisis in an astounding fall from grace. After losing the Mumbai showpiece, Sri Lanka have unravelled in spectacular fashion, hit by resignations, […]
Sri Lanka policy rates unchanged; credit growth to slow: CB
July 08, 2011 (LBO) – Sri Lanka’s central bank held its policy rate at which excess money is withdrawn from the market at 7.0 percent in July saying credit growth was slowing and inflation would ease further. In June 12-month inflation fell to 7.1 percent from 8.1 percent in May, measured by the widely watched […]
Sri Lanka stocks close up 0.5-pct
July 07, 2011 (LBO) – Sri Lanka stocks closed firmer Thursday with sharp gains in Lanka Orix Finance Company, which began trading, helping propel the benchmark index up by over a hundreds points in early trade, brokers said. The main All Share Price Index closed at 6,918.41, up 0.50 percent (34.35 points) while the more […]
Vehicle Trend
July 07, 2011 (LBO) – Sri Lanka’s vehicle registrations were up 65.2 percent in May 2011 to 41,862 from a year earlier, with total registrations also up 65 percent to 200,415 in the first five months of the year, official data shows. Car registrations rose 10 times to 5,173 in May, motor cycle imports were […]
Finance Education
July 07, 2011 (LBO) – Amana Global, a fully-owned subsidiary of Sri Lanka’s Amana Takaful has signed a deal with Islamic Banking and Finance Institute of Malaysia (IBFIM) to offer training in Islamic finance. At present there is a dearth of professional services available to satisfy the demand, a company statement said. “The move to […]
” north of capital
July 7, 2011 (LBO) – Sri Lanka will build a new ‘tourist city’ in the Western coastal city of Katana north of the capital Colombo, which may draw 1.5 billion US dollars in foreign investments in its first phase alone, a government minister said. Sri Lanka’s tourism development authority has also offered a series of […]
‘s Tata to build S.African auto plant: report
JOHANNESBURG, July 7, 2011 (AFP) – Indian giant Tata will start building an auto assembly plant in South Africa in July for production which is likely to target the local and African market, Business Day reported on Thursday. In May Tata reported a nearly fourfold increase in annual profit, boosted by booming sales and strong […]
‘s rout of Sri Lanka
NOTTINGHAM, July 6, 2011 (AFP) – England captain Alastair Cook’s unbeaten 95 completed his side’s crushing 10-wicket victory over Sri Lanka in the fourth one-day international at Trent Bridge here on Wednesday. England’s win left the five-match series all square at 2-2 ahead of Saturday’s Old Trafford finale. England, chasing a revised target of 171 […]
Petroleum Post
July 07, 2011 (LBO) – Sri Lanka’s government is seeking a new head for the Petroleum Resources Development Secretariat (PRDS), to lead the island’s search for oil and gas resources. The vacancy for the Director General of the Petroleum Resources Development Secretariat has been posted on the website of the organisation, which now comes under […]