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Sri Lanka cracks down on illegal fishing
May 27, 2011 (LBO) – Sri Lanka has told a regional fish management body that it is cracking down on illegal fishing that is seen hurting efforts to prevent over-exploitation of fish stocks and conservation. The crackdown comes in the wake of concern that illegal fishing hurt management measures aimed at controlling and monitoring fish […]
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May 26, 2011 (AFP) – Sri Lanka said Thursday it planned to set up sanctuaries for stray dogs in a bid to remove them from the streets and tackle a growing rabies problem. Between 2,000 and 2,500 people are bitten each day by stray dogs, the official said, and there is one dog for every […]
First Land Rover rolls out of Indian factory
PIMPRI, May 27, 2011 (AFP) – Mumbai-based Tata Motors opened its first Indian factory on Friday for Land Rovers, the formerly loss-making British brand aiming to make inroads in the booming South Asian market. A Freelander 2 sports utility vehicle was the first to roll out of the plant on the outskirts of Pune, some […]
Sri Lanka leader vows to defend troops on war crime claims
May 27, 2011 (AFP) – Sri Lankan President Mahinda Rajapakse on Friday vowed to defend his military from war crimes allegations as the island marked the second year of its victory over Tamil Tiger rebels. “We will not betray you to the world,” Rajapakse told troops during a colourful military parade at Colombo’s seafront Galle […]
Sri Lanka newly listed finance firms soar on debut
May 26, 2011 (LBO) – Sri Lankan shares closed weaker Thursday with two newly listed finance companies soaring on their debut and a property company once again the most actively traded stock, brokers said. The main All Share Price Index closed at 7,419.44, down 0.37 percent (27.25 points) while the more liquid Milanka index fell […]
Finance Rating
May 26, 2011 (LBO) – Sri Lanka’s Multi Finance Company Limited (MFCL) has been rated ‘B+(lka)’, four notches below investment grade, by Fitch with a ‘stable’ outlook. “MFCL’s rating reflects its small size, weak franchise, modest capitalisation and low profitability in its core business,” Fitch Ratings said in a statement. “The rating factors in the […]
Sri Lanka Keells Hotels net up 9-pct in March
May 26, 2011 (LBO) – Sri Lanka’s Keells Hotels’ profits rose 9 percent to 521 million rupees in the March 2011 quarter with most of the profits coming from its Maldivian operations, interim accounts showed. It had also slightly increased investment in John Keells Hotels Mauritius. Revenues rose 11 percent to 1.9 billion rupees in […]
CEO Forum
May 26, 2011 (LBO) – Due to the growth of social media and the internet Sri Lankan firms have to be increasingly vigilant to safeguard the reputation of their brands among today’s well informed consumers, a senior executive said. Brands build bonds with end users to ensure they continually consume their products. Brand specialist say […]
Policy Debate
May 26, 2011 (LBO) – I am on an American Airlines flight from Phoenix, Arizona to St Louis, Missouri having enjoyed the only break in the rigorous seven week Eisenhower Fellowship program at the Grand Canyon, America’s great natural wonder. From St Louis I go to San Francisco and a number of other cities to […]
Cold Comfort
May 26, 2011 (LBO) – Sri Lanka’s Ceylon Cold Stores said net profit for the financial year ending March 2011 fell 13 percent to 200 million rupees from a year ago with its ‘Keells Super’ supermarket chain still in the red. Annual group sales rose 16 percent to 16. 6 billion rupees, the company said […]