All Blogs
India corporate fraud rising: KPMG report
NEW DELHI, April 7, 2010 (AFP) – Corporate fraud, particularly involving financial statements, is on the rise in India as executives struggle to meet earnings targets, global consultancy KPMG said Wednesday. Forty-five percent of the 1,000 managing directors, chief financial officers and other top executives of leading Indian businesses declared fraud had increased within their […]
Indian space programme advances with satellite plan
BANGALORE, April 8, 2010 (AFP) – India plans to put a satellite into orbit using its indigenously built cryogenic rocket engine, marking another step in the nation’s ambitious space programme, officials said. Cryogenic rocket motors, which use supercooled liquid fuel, have been built by only six countries or regions in the world, with India joining […]
Sri Lanka exports down in January as apparel shipments fall
Apr 08, 2010 (LBO) – Sri Lanka’s exports fell in January 2010 owing to a sharp fall in apparel shipments, the island’s main industrial export, despite higher agricultural export earnings, interrupting a recovery in the export sector, the Central Bank said. The bank said in a statement that exports fell 3. 9 percent to 472 […]
Sri Lanka vote marred by violence, intimidation: monitors
April 8, 2010 (AFP) – A shooting incident and reports of intimidation — mostly by ruling party supporters — marred Thursday’s parliamentary elections in Sri Lanka, independent election monitors said. The Centre for Monitoring Election Violence (CMEV) reported 160 incidents of poll-related violence during the first four hours of balloting across the country. A shoot-out […]
‘s hold
April 8, 2010 (AFP) – Sri Lankans were voting Thursday in a parliamentary poll that is widely expected to see President Mahinda Rajapakse’s ruling party march to a comfortable win over the fractured opposition. For many Sri Lankans, it is the first parliamentary election in which they can vote without fear of Tamil Tiger violence […]
Sri Lanka expects leisure to loom larger in FDI
Apr 08, 2010 (LBO) – Telecom and power sectors which accounted for 65 percent of foreign direct investment to Sri Lanka in recent years will play a less dominant role as cash pours into leisure with an upturn in tourism, an official said. In the first quarter of this year around 250 million US dollars […]
Sri Lankans wireline phones drop with mobile growth
Apr 17, 2010 (LBO) – Use of wireline phones, supplied only by the listed Sri Lanka Telecom, a former state monopoly, is on the decline, with subscribers shifting to mobile phones, the latest official data showed. The number of mobile connections increased by 25.9 percent to 13.9 million in 2009 from the year before, while […]
Sri Lankan stocks hit new high
Apr 07, 2010 (LBO) – Sri Lankan stocks hit a record high and passed 3,900 points Wednesday as institutional and high net-worth investors bought index-heavy, high-value shares, brokers said. Colombo’s All Share Price Index (ASPI) closed at 3,909.61, up 39.26 points, while the Milanka index of more liquid shares gained 1.26 percent (56.12 points) to […]
Platform Supply
Apr 07, 2010 (LBO) – Sri Lanka’s Colombo Dockyard, a listed ship builder, said it was getting ready to deliver the first of a series of four Multipurpose Platform Supply Vessels for a Singaporean client. Colombo Dockyard is set to deliver six vessels this year, including the Multi Purpose Platform Supply Vessels and a passenger […]
Offshore Supply
Apr 07, 2010 (LBO) – The Sri Lankan unit of international ship supply firm GAC plans to expand its business with the acquisition of more craft, a senior official said. “We plan to invest on another two supply boats,” said Walter Rodrigo, director of GAC Shipping, which has a service from the southern port of […]