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Sri Lanka firms struggle with rising labour costs: reports
June 06, 2010 (LBO) – A coir factory in a coconut growing northeastern district in Sri Lanka is facing labour problems and a yet another state enterprises is facing financial difficulties, media reports said. The Sunday Times newspaper said a four year old export oriented coir factory with Indian and Israeli collaboration has run into […]
Comedy Hit
June 4, 2010 (AFP) – Megastar Aamir Khan’s hit movie “3 Idiots” is set to sweep the board at the “Bollywood Oscars” in Sri Lanka this weekend, after scooping a string of awards in the technical categories. The film — a coming-of-age comedy about three struggling students at a top engineering college — has been […]
Winning Track
June 4, 2010 (AFP) – Megastar Aamir Khan’s hit movie “3 Idiots” is set to sweep the board at the “Bollywood Oscars” in Sri Lanka this weekend, after scooping a string of awards in the technical categories. The film — a coming-of-age comedy about three struggling students at a top engineering college — has been […]
Vietnam trade delegation visits Sri Lanka
June 05, 2010 (LBO) – A trade delegation from Vietnam headed by the country’s vice trade minister will visit Sri Lanka next week and also form a joint business council with the island’s Ceylon Chamber of Commerce. In the delegation would be representatives from Vietnam National Coal-Mineral Industries group, a mining, exploration mineral trading and […]
Sri Lanka told India ready for common standards to smoothen trade
June 05, 2010 (LBO) – India is ready to improve access for Sri Lankan goods and services to its markets by creating mechanisms like common standards and recognizing professional certifications, an Indian diplomat said. “Often, it is stated that the FTA did not address non-tariff barriers (NTBs) which restrict market access to India. Of course […]
Sri Lanka shut India out of Tri-nations series
HARARE, June 5, 2010 (AFP) – India were shut out of the Wednesday’s Tri-nations final here Saturday when Dinesh Chandimal led Sri Lanka to victory with just 10 balls to spare. India needed a win to stay in the tournament, which would have given them them a slender chance to play in the final on […]
Sri Lanka to allow foreigners in domestic league
June 5, 2010 (AFP) – Sri Lanka plans to welcome foreign players to compete for the first time for local teams in a revamped Twenty20 format, a top administrator said Saturday. Modelled on the glitzy Indian Premier League (IPL), the new format is also aimed at attracting overseas sponsorship, Sri Lanka’s chief cricket selector, Aravinda […]
Sri Lanka aims for investment grade rating by 2013: CB Governor
June 05, 2010 (LBO) – Sri Lanka is aiming to push its speculative sovereign rating to investment grade by 2013 by fixing government finances, keeping inflation low and growth high, Central Bank Governor Nivard Cabraal said. Sri Lanka was downgraded a notch from its original rating as the country went on a deficit spending and […]
Sri Lankan stocks close at record high, up 0.51-pct
June 04, 2010 (LBO) – Sri Lankan stocks closed at a new high Friday, boosted by gains on index heavy shares, with Nations Trust Bank (NTB) and Pan Asia Banking Corporation (PABC) shares were heavily traded, brokers said. Aitken Spence closed at 1,555.00 rupees, up 3.25, Hayleys closed at 300.00 rupees, down 75 cents, Hemas […]
Sri Lanka tea prices seen bottoming out
June 04, 2010 (LBO) – Sri Lankan tea prices recovered this week after falling sharply in recent Colombo auctions prompting brokers to say the market appears to have bottomed out. Fears that heavy rains could reduce crops in the southern cultivation areas which produce the bulk of national output have also subsided as rains have […]