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Sri Lanka CIC agro firm annual net up 58-pct
May 30, 2011 (LBO) – Sri Lanka’s CIC Holdings group said net profit for the financial year to March 2011 rose 58 percent to 929 million rupees from a year ago driven mainly by its agriculture and livestock business. Sales rose 27 percent to 21 billion rupees, the company said in a stock exchange filing. […]
Sri Lanka rubber plantation profits up
May 30, 2011 (LBO) – Sri Lanka’s Kegalle Plantations, which gets most of its revenues from rubber, said profits rose 14 percent to 270 million rupees with revenues growing 30 percent to 900 million rupees. Tea is a most labour intensive crop compared with rubber or coconut. The firm was charged 197 million rupees in […]
”’ seminar skipped by key nations
May 30, 2011 (AFP) – Sri Lanka is to hold an international seminar starting Tuesday to share lessons on its bloody defeat of Tamil rebels, but major nations have declined to send delegations amid war crime allegations. The island’s government said the massive military offensive that finally defeated the Tamil Tigers two years ago was […]
Sri Lanka IFC in business skill push through web, mobile
May 30, 2011 (LBO) – International Finance Corporation, World Bank’s private sector arm, Dialog Axiata and IBM Corporation is seeing growing use of a web based business training platform backed by mobile delivery in Sri Lanka, officials said. IFC’s business toolkit developed by IBM has been adapted to Sri Lanka since 2008 targeting small and […]
Sri Lanka IFC investments upped after war
May 30, 2011 (LBO) – International Finance Corporation, the World Bank’s private sector financing arm, said it could double investments in Sri Lanka to nearly 70 million dollars a year after a 30-year war ended in the country. “We are ready to step up our investment in the post conflict era,” Pavol Wajda, program coordinator […]
” law not to apply to export workers: state
May 30, 2011 (LBO) – A proposed controversial ‘pension’ bill to strengthen state control over forced retirement savings of private sector workers will not apply to export industrial zones, the government said as protesters and police were injured in clashes. Sri Lanka has had three armed uprisings in the past four decades where tens of […]
Nano Effort
May 29, 2011 (AFP) – India’s Tata Nano, billed as the world’s cheapest car, began its first export sales Sunday by entering the Sri Lankan market — but with a price tag nearly three times what it is at home. Sri Lanka reduced car duties by almost half in June last year, but then raised […]
‘t want to give up IMF power: India
NEW DELHI, May 28, 2011 (AFP) – India’s prime minister Saturday said there appeared little hope that an emerging nation candidate would be chosen to head up the International Monetary Fund in the current contest. The Indian premier’s comments came a day after France announced that the country’s finance minister Christine Lagarde would visit India […]
‘s pilgrim trail: a godsend for hotel chains
MUMBAI, May 29, 2011 (AFP) – India’s pilgrimage centres are fast becoming hot-spots for hotel chains, as both domestic and international groups look to plug a gap in the market for quality accommodation. Devotees flocking to so-called “temple towns” such as Shirdi in western Maharashtra state, the Sikh holy city of Amritsar in Punjab and […]
Hundred heroes Cook and Trott punish Lankans
CARDIFF, May 28, 2011 (AFP) – Alastair Cook and Jonathan Trott both made centuries against Sri Lanka in the first Test here on Saturday as they carried on from where they left off in Australia. Cook was 129 not out and Trott 125 not as England closed on 287 for two in reply to Sri […]