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Sri Lanka gem show lures Chinese, Russians
Sept 03, 2010 (LBO) – An international gem and jewellery exhibition in Sri Lanka has drawn large groups of buyers from China and Russia which are emerging as important markets, officials said. “The stones have become more attractive and better cut.” Chanaka Ellawala, head of the 20th Facets gem and jewellery show organising committee, said […]
Sri Lanka stocks close up 1.67-pct
Sept 02, 2010 (LBO) – Sri Lankan stocks closed sharply higher Thursday, with the main index driven up almost 100 points amid heavy trading in certain shares of the finance sector which is recovering from a downturn, brokers said. The firm, which owns Amaya Reef on the southwest coast, closed at 6. 70 rupees, up […]
Port Matters
Sept 02, 2010 (LBO) – A Sri Lankan conglomerate, part of the consortium selected to build a new container terminal in Colombo port, warned against surcharges by shipping lines and also creating excess capacity ahead of demand. “I recommend we should not try to create additional capacity – then there can be a price war,” […]
Island Deal
Sept 02, 2010 (LBO) – Sri Lanka’s Acuity and Millennium Capital Management (MCM) Holdings of Maldives is partnering to provide investment banking services in the archipelago with deals worth 55 million US dollars in the pipeline, officials said. Acuity, a unit of Sri Lanka’s listed DFCC Bank and Hatton National Bank is working with MCM […]
Sri Lanka Renuka Holdings mulls hotels ventures
Sept 02, 2010 (LBO) – Sri Lanka’s Renuka Holdings is considering developing property is owns in the north and east as tourist resorts and is in talks with potential partners, an official said. Turnover for the period grew to 1. 5 billion rupees from a restated 136 million rupees the previous year, before the acquisition […]
Sri Lanka fishermen find peace leaves nets empty
TRINCOMALEE, September 2, 2010 (AFP) – Fishermen in the Sri Lankan port of Trincomalee hoped the end of the island’s civil war would bring prosperity, but dynamite and corruption now threaten their livelihoods. Trincomalee, on the northeast coast, has one of the world’s finest natural harbours and was fiercely fought over during the war until […]
Deny Deny
RIYADH, September 1, 2010 (AFP) – Saudi government and private sector officials have questioned the account of a Sri Lankan maid who said her Saudi employers forced 24 nails and needles into her body. Saad al-Badah, head of the National Recruitment Committee of the Council of the Saudi Chambers of Commerce and Industry, told Saudi […]
Long queues form at Afghan bank amid corruption claims
KABUL, September 2, 2010 (AFP) – An owner of Afghanistan’s biggest bank, Kabul Bank, said Thursday it was not facing a run and was supplying branches with enough cash to meet demand, a day after US media allegations of corruption. “There is not a run. We’re here and we are prepared to pay out as […]
World Bank raises Pakistan aid to one billion dollars
WASHINGTON, September 2, 2010 (AFP) – The World Bank raised its emergency funding to Pakistan to one billion dollars on Wednesday to help the nation cope with the massive economic impact of catastrophic monsoon flooding. The hike, an additional 100 million dollars on top of an existing 900 million dollar loan, was announced by World […]
Sri Lankan Airlines cuts losses
Sept 02, 2010 (LBO) – SriLankan Airlines, Sri Lanka’s state-run national carrier said it lost 6. 06 billion rupees in the year to March 2010, down from a 9.99 billion loss notched up an year earlier. The airline said it had cut cost and improved revenue under turnaround plan and losses in the second half […]