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Sri Lankan seasonal tea prices rise
Aug 18, 2010 (LBO) – Prices of Sri Lanka’s seasonal ‘Uva’ teas rose sharply at the latest auction with tight global supply and anticipated higher demand for the winter seen keeping the market firm, brokers said. While the better made teas from different elevations fetched highr prices at last week’s Colombo sale, poorer teas weakened […]
Sri Lanka denies war crimes in domestic probe
August 17, 2010 (AFP) – Sri Lanka’s powerful defence chief Tuesday staunchly defended the government’s human rights record, saying troops suffered heavy losses to avoid civilian casualties during last year’s assault on Tamil Tiger rebels. Defence Secretary Gotabhaya Rajapakse said foreign diplomats and aid agencies had lauded his measures to protect civilians during the major […]
Canada takes hard line on Tamil migrants
VANCOUVER, August 17, 2010 (AFP) – A Canadian tribunal on Tuesday ordered continued detention for the first person interviewed in a group of 492 Tamil asylum seekers that reached Vancouver last week aboard a battered cargo ship. Canadian Prime Minister Stephen Harper, citing sovereignty, “significant security concerns” and “increasing” human smuggling for financial gain, said […]
Sri Lanka gets visit by ADB vice president
Aug 18, 2010 (LBO) – Asian Development Bank (ADB) said its Vice President Xiaoyu Zhao will visit Sri Lanka from 19-21 August for talks with the government and to visit ADB funded projects especially in the former northern war zone. The bank said in a statement Zhao will review ADB support for the reconstruction and […]
‘s Mahindra group
Aug 18, 2010 (LBO) – India’s Mahindra and Mahindra group is planning to make investments in Sri Lanka initially in tourism and financial services and also increasing vehicles sales in the island, an official said. “Sri Lanka can provide a platform for large multinationals like us,” Anand Mahindra, Vice Chairman and Managing Director of the […]
Sri Lankan stocks close up 2.21- pct
Aug 17, 2010 (LBO) – Sri Lankan stocks rallied for the third straight day, Tuesday, from renewed buying interest on midcap stocks despite low trading volumes, while retail interest on volatile ‘penny’ stocks continued, brokers said. The All Share Price Index closed at 5,305.80, was up 2.21 percent (114.50 points) while the Milanka index of […]
Keel Laying
Aug 17, 2010 (LBO) – Colombo Dockyard has laid the keel for construction of the second vessel of a series of two 130 Ton Bollard Pull Anchor Handling Tug Supply Vessels (AHTSV) Tuesday, a statement said. “The keel laying ceremony signifies the commencement of construction work of the AHTSV, which is one of the biggest […]
European Link
Aug 17, 2010 (LBO) – Logistics firm DHL has launched a direct Less-than-Container Load (LCL) service from Colombo and Singapore to Koper, Slovenia, improving connectivity with Eastern Europe, a statement said. The direct service, operated by Danmar Lines, DHL Global Forwarding’s in-house carrier, will shorten transit time between Sri Lanka and Singapore with Slovenia. “Small […]
Bank Numbers
Aug 17, 2010 (LBO) – Hatton National Bank (HNB) group June quarter profits rose 22 percent to 1.22 billion rupees from high interest margins and higher fee based income, while loan loss provision costs had also come down, a stock exchange filing showed. In June quarter 2010, interest income was down 16 percent to 7.57 […]
Sri Lanka LOLC buys beach resort for Rs310mn
Aug 17, 2010 (LBO) – Sri Lanka’s LOLC group has bought control of a beach resort on the west coast for 310 million rupees and is in talks with international chains to manage the property, a stock exchange filing said. LOLC said it is holding talks with a “few world-renowned hotel chains” that have shown […]