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Finance Deadline
May 31, 2011 (LBO) – Sri Lanka’s central bank said 15 regulated finance companies have so far listed themselves on the Colombo Stock Exchange in response to a direction by the Central Bank and other are on the way. The Central Bank has set a deadline of June 30 for listings to be completed. The […]
Sri Lanka Hunas Falls hotel to increase rooms, push eco-image
May 31, 2011 (LBO) – Sri Lanka’s Hunas Hotel, located in the central hill district of Kandy will expand rooms and ride on its eco-friendly image targeting niche markets, chairman Mohan Pandithage told shareholders. The hotel’s revenues had increased 31 percent to 102 million in the year to March and profits had increased 153 percent […]
Sri Lanka Aitken Spence net up 20-pct in March
May 31, 2011 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in tourism, shipping, power and plantations said profits rose 20. 7 percent to 754.4 million rupees in the March 2011 quarter, with revenues flat at 6. 9 billion rupees. In the full year to March the group’s revenues rose 4. 0 percent […]
India GDP figures set to show growth above 8%
NEW DELHI, May 30, 2011 (AFP) – India is expected to post economic growth of more than eight percent when it reports data for the fiscal fourth-quarter on Tuesday, despite a series of rate hikes that have hit industrial output. Asia’s third-largest economy is estimated to have expanded 8.2 percent from a year earlier in […]
Sri Lanka welfare spending seen helping raise support for war
May 31, 2011 (LBO) – A government fertiliser subsidy given to farmers was a key factor in generating public support for Sri Lanka’s military campaign that defeated Tamil Tiger separatists, a defence official said. The Indian and Sri Lankan governments maintained close ties and clear communications lines at the highest levels that ensured any issues […]
Sri Lanka promises to keep calm and carry on
CARDIFF, May 31, 2011 (AFP) – Sri Lanka captain Tillakaratne Dilshan said there was no point in reading the riot act after a stunning collapse to 82 all out saw his side lose the first Test against England. A rain-affected match appeared destined for a draw after England declared their first innings on 496 for […]
Oil Trend
May 31, 2011 (LBO) – Lanka IOC, the Sri Lanka unit of Indian Oil Corporation lost 111 million rupees in the March 2011 quarter, on revenues of 16. 2 billion rupees, an analysis of audited accounts released to the Colombo stock exchange shows. Lanka IOC raised its diesel prices nine rupees above the competitor, state-run […]
Sri Lanka shares becalmed
May 30, 2011 (LBO) – Sri Lankan shares ended flat Monday with active trade in newly listed The Multi Finance Company and Capital Development and Investment Company, brokers said. Singer Sri Lanka went up 16.30 rupees or 14.19 percent to end at 131.2 rupees. There were three crossings of a total of 530,000 shares all […]
Maritime Links
May 30, 2011 (LBO) – A passenger vessel that can carry up to 1,044 people is to be used to launch a transport service between Sri Lanka’s Colombo port and the south Indian harbour of Tuticorin. The ‘Scotia Princess’ ferry will initially do two voyages a week, said Classic Travels, a subsidiary of Expolanka Holdings, […]
Shipping Costs
May 30, 2011 (LBO) – Sri Lanka’s Mercantile Shipping lost 38 million rupees in the March 2011 quarter through revenues rose 22 percent to 197 million rupees, according to interim accounts. Last year Mercantile Shipping warned shareholders that despite taking delivery of new vessels international charter rates were depressed in the near term. For the […]