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Maritime Links
June 08, 2010 (LBO) – Three shipping lines have launched a new container shipping service through Sri Lanka’s Colombo port to carry cargo to east Africa from the Indian sub-continent and the Far East, a statement said. The SLPA said the vessel is expected to do over 1,000 moves per call at the JCT, Colombo’s […]
Box Trends
June 08, 2010 (LBO) – Cargo volumes at a Colombo port private terminal run by an associate firm of John Keells Holdings surged 22. 3 percent in May to 175,514 twenty-foot equivalent container units (TEUs) from a year ago, latest data shows. SAGT is part of the transport business of the JKH conglomerate which has […]
Northern Reach
June 08, 2010 (LBO) – Sri Lanka’s Nations Trust Bank has opened a branch in the former war zone of northern Jaffna whose economy is reviving with the end of the conflict. The bank said in a statement the branch, its 40th in the island, will provide residents in the north extended banking hours 365 […]
Mumbai plans 117-storey apartment block
MUMBAI, June 8, 2010 (AFP) – An Indian property group was due Tuesday to unveil plans to build one of the world’s tallest residential towers in Mumbai, the booming financial capital of the fast developing country. Lodha Developers intends the tower to be 117 storeys high, and it will be designed by New York-based architects […]
‘s immigration open, but not for one French family
MONTREAL, June 8, 2010 (AFP) – Looking to swell its population with an influx of up to 250,000 immigrants annually, Canada is arguably among the world’s most welcoming nations, but its doors are not open to all. A French couple, Sophie and David Barlagne, recently experienced bitter rejection by a still selective immigration policy. They […]
Top Sri Lanka exporter bats for trade deal with India
June 08, 2010 (LBO) – A top Sri Lankan exporter which is already doing business in India has backed the signing of a new deal to further open trade between the two countries, building on an existing ten-year-old agreement. However other exporters have had problems, with individual state taxes hitting them even if national import […]
Taylor century helps Zimbabwe defeat Sri Lanka
HARARE, June 7, 2010 (AFP) – Zimbabwe batsman Brendan Taylor blasted a rapid century at Harare Sports Club to steer his side to an impressive eight wicket win over Sri Lanka in their 50-over international on Monday. This was the last of six Tri-series matches, which included India. The home team, the least fancied of […]
‘ trust
June 7, 2010 (AFP) – Sri Lanka’s President Mahinda Rajapakse urged Tamil leaders on Monday to trust him and help resolve outstanding problems following the country’s civil war, warning he would not bow to terrorism. Rajapakse told the Tamil National Alliance (TNA) party, formerly a front for the defeated Tamil Tiger rebels, that he was […]
Sri Lanka must cut business costs to lure investors: World Bank
June 08, 2010 – Sri Lanka’s investment climate must be improved and cost of doing business reduced to attract the private investment needed to speed up growth and improve people’s lives, a senior World Bank official said. Sri Lanka needs to sharply increase private investment in order to accelerate growth, Ernesto May, handling private sector […]
Sri Lanka outlines spending plans for 2010
June 08, 2010 (LBO) – Sri Lanka will spend at least 202 billion rupees on defence, 87. 8 billion rupees on roads, 53 billion rupees on health, 26. 2 billion rupees on ports and 25.1 billion rupees on water supply this year, a bill submitted to parliament said. In 2009 Sri Lanka spent 188.6 billion […]