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Sri Lanka apparel exporter gets ready for carbon footprint rules
Apr 02, 2010 (LBO) – Sri Lankan apparel exporter Brandix said it is investing more to cut energy costs and carbon emissions and comply with anticipated laws in key markets requiring disclosure of carbon footprints of products. The group, which has invested four million US dollars on the initiative, said it has already reduced its […]
Sri Lankan stocks close 0.59-pct up, blue chips gain
Apr 01, 2010 (LBO) – Sri Lankan stocks closed up Thursday boosted by price gains on index heavy blue chips, while John Keells Holdings (JKH) reached a billion dollars in market capitalization, brokers said. At the end of trade Thursday, JKH had reached a market cap of 114.9 billion rupees, brokers said. Dealers said the […]
Trade Hub
April 01, 2010 (LBO) – Chinese port operator China Merchants Holdings (International) has said it expects a breakthrough in talks to build a new container terminal in Sri Lanka’s Colombo harbour this year. The company, in partnership with Sri Lankan conglomerate Aitken Spence, was the sole bidder for the first container terminal to be built […]
State Bank
Apr 01, 2010 (LBO) – Sri Lanka’s state-run People’s Bank group’s net profit rose 21. 8 percent to 4.1 billion rupees in 2009 from a year earlier, helped by stronger margins despite higher provisions, annual accounts showed. Group gross loans and advances rose to 334 billion rupees from 294 billion rupees a year earlier. Non […]
Wealth Product
Apr 01, 2010 (LBO) – Sri Lanka’s NDB Aviva Wealth Management, a unit of listed NDB Bank and UK based Aviva Insurance says it is planning to go retail riding on easy to understand products distributed through the group. The firm manages 29 billion rupees worth of assets belonging to 80 large portfolios including the […]
Sri Lanka tea estate in iced tea project with US firm
April 01, 2010 (LBO) – Sri Lanka’s listed Bogowantalawa Tea Estates said it was starting a two million dollar iced tea unit with a US firm in which the firm would take up a 25 percent stake. The joint venture will export packaged iced tea to the United States. The company said it was teaming […]
South Health
Apr 01, 2010 (LBO) – Sri Lanka’s Asiri Hospital had bought a 40-bed hospital in the island’s southern Matara area for 160 million rupees, the firm said in a stock exchange filing. Matara Medi House (Pvt) Ltd is build on a 241 block of land in the Matara town. The firm said the purchase was […]
Software Raid
Apr 01, 2010 (LBO) – Sri Lanka’s police have raided a company suspected to be using pirated and unlicensed software, the Business Software Alliance (BSA) which represents software firms said. The company is suspected to be infringing the intellectual property rights of BSA members, Adobe, Autodesk and Microsoft, it said in a statement. The raids […]
Sri Lanka president visits Tamil heartland
JAFFNA, April 1, 2010 (AFP) – Sri Lanka’s President Mahinda Rajapakse reached out on Thursday to the country’s ethnic minority Tamils as he made his first visit to their cultural heartland since his re-election. Rajapakse, on a trip to battle-scarred Jaffna, the former stronghold of separatist Tamil rebels in the island’s north, promised to work […]
Sri Lanka rating agency takes ex-central banker on board
Mar 31, 2010 (LBO) – Sri Lanka’ RAM Ratings said it had appointed Priyanthi Liyanage, a former central banker to its board as an independent director. She is a qualified banker with service at the Bank of Ceylon and also in the Sri Lanka Administrative Service. Liyanage has 37 years’ experience in the state sector […]