All Blogs
Sri Lanka stocks close down 0.8-pct
May 11, 2011 (LBO) – Sri Lankan stocks slumped Wednesday with losses seen in several index-heavy stocks, brokers said. The main All Share Price Index closed at 7,280. 66, down 0.80 percent (58.99 points) while the more liquid Milanka index fell 0.27 percent (18.33 points) to close at 6,722.49, according to stock exchange provisional figures. […]
Auto Trends
May 11, 2011 (LBO) – KIA Motors of South Korea plans to begin selling small cars in Sri Lanka by July 2011 following the introduction of its KIA Optima car in the island, an official said. KIA Optima cars with 2.0 litre petrol engines will begin arriving by September and will be sold at an […]
Shipping Costs
May 11, 2011 (LBO) – Hong Kong-based Orient Overseas Container Line has become the latest container shipping line to announce a freight rate hike in what carriers call ‘rate restoration’ programmes. OOCL has told shippers it is raising rates on Asia-Europe trade lanes as present rates were not sustainable. “The ocean freight rate for Asia […]
Fresh Capital
May 11, 2011 (LBO) – Sri Lanka’s Hatton National Bank has changed plans to raise fresh capital by dropping a private placement and increasing a rights issue for existing shareholders, a stock exchange filing said. The amount of funds to be raised, to strengthen its capital and balance sheet and to support growth, has been […]
Sri Lanka Three Acre March net up despite price cuts
May 11, 2011 (LBO) – Sri Lanka’s Three Acre Farms said March 2011 quarter group net profit was 41 million rupees compared with just half-a-million rupees the year before although excess stocks forced it to cut prices. But there have been excess stocks in recent months after the government allowed chicken imports in the run […]
India to hire 10,000 teachers from Taiwan
TAIPEI, May 10, 2011 (AFP) – India plans to recruit up to 10,000 teachers from Taiwan to meet growing demand for Chinese language classes, Taiwan’s education ministry said Tuesday. Kapil Sibal, India’s minister of human resources, made the proposal during a meeting with Taiwan’s education minister Wu Ching-ji in India last week, an education official […]
Bangladesh mulls clothes factories in jails
DHAKA, May 11, 2011 (AFP) – Bangladesh’s prison authorities on Wednesday announced plans to set up garment factories in the country’s overcrowded jails in a bid to help convicts acquire skills and make money. The project, which has not yet been approved by the government, aims to set up factories first in major prisons before […]
Sri Lanka, Australia lodge 2018 bid books
KUALA LUMPUR, May 11, 2011 (AFP) – Australia’s Gold Coast and Sri Lanka’s Hambantota lodged their bid books Wednesday in the contest to host the 2018 Commonwealth Games. The two cities, which are the only contenders for the right to hold the event, both vowed to spend billions of dollars to build new accommodation, hotels […]
Sri Lanka stocks close down 0.5-pct
May 10, 2011 (LBO) – Sri Lankan stocks closed lower Tuesday with brokers saying speculative trade was still going strong despite regulatory curbs on unusual price movements. The main All Share Price Index closed at 7,339.65, down 0.52 percent (38,21 points) while the more liquid Milanka index was down 0.29 percent (19.59 points) to close […]
Money Transfer
May 10, 2011 (LBO) – ICICI Bank, India’s largest private sector bank, has tied up with Sri Lanka’s Sampath Bank to launch an online cross-border money transfer facility. The ‘Money2SriLanka’ facility (‘M2SL’) is a web-based online remittance platform which facilitates the sending of remittances from abroad to beneficiaries in Sri Lanka, a statement said. This […]