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Sri Lanka employers should have closer dialogue with workers: ILO
Mar 02, 2010 (LBO) – Businesses can ride out economic downturns easier by having stronger relations with their workers through collective bargaining; an approach used countries like in Germany, an International Labour Organization (ILO) official said. Curtis was speaking at the tripartite workshop on freedom of association in collective bargaining in Sri Lanka, Nepal, the […]
Sri Lanka think tank highlights regional market prospects
March 02, 2010 (LBO) – Sri Lankan exporters have a virtually untapped opportunity in south Asia’s huge market that could compensate for difficulties in accessing traditional Western markets, a new study has said. “For Sri Lanka, south Asia is increasingly becoming important as a trading partner,” said Saman Kelegama, director of the Institute of Policy […]
Sri Lanka shares close 0.46-pct higher
Mar 01, 2010 (LBO) – Sri Lankan stocks closed up Monday as investors bought selected midcap and high value shares, brokers said. JKH closed at 168.75 rupees, up 50 cents, and Distilleries Company of Sri Lanka closed at 118.00 rupees, up 150. Commercial Bank of Ceylon closed at 197.00 rupees, down 75 cents, Hatton National […]
Ship Building
March 01, 2010 (LBO) – Sri Lankan ship builder Colombo Dockyard said net profit for the 2009 financial year rose by almost half although they fell in the December quarter as ship repair revenue came down. The yard, which is majority owned by Japan’s Onomichi Dockyard, said in a stock exchange filing that net profit […]
Name Change
Mar 01, 2010 (LBO) – Sri Lanka’s listed Seylan Merchant Bank said it was changing its name to SMB Holdings and splitting each existing share in to ten new shares, the firm said in a stock exchange filing. SMB was a subsidiary of listed Seylan Bank, which is under regulatory supervision following a run. On […]
Third Source
WASHINGTON, March 1, 2010 (AFP) – The Internet has become the third most popular news platform for American adults, trailing only local and national television stations, according to a survey released on Monday. Seventy-eight percent of the 2,259 adults surveyed for the Pew Research Center’s Internet & American Life Project and the Project for Excellence […]
Sri Lanka Janashakthi Insurance 2009 net up 46.3-pct
Mar 01, 2010 (LBO) – Sri Lanka’s Janashakthi Insurance’s net profits rose 46. 3 percent to 657 million rupees in 2009, helped by stronger underwriting results while investment income was flat, the firm’s annual accounts showed. Revenues rose 7.7 percent to 5.98 billion rupees. Gross written premium rose 6.6 percent to 5.70 billion rupees and […]
Sri Lanka Ceylinco Insurance Dec net up 137-pct, full year up 42-pct
Mar 01, 2010 (LBO) – Sri Lanka’s Ceylinco Insurance said net profits for the December 2009 quarter rose 137 percent to 356 million rupees from a year earlier while full year profits rose 42 percent to 691. 8 million rupees despite weaker premiums. For the full year revenues fell 3.0 percent to 19.50 billion rupees. […]
Prerequisites for making Sri Lanka (Gampaha District) a knowledge hub
Mar 01, 2010 (LBO) – Sri Lanka is to become a “Naval, Aviation, Commercial, Energy and Knowledge hub.” According to Basil Rajapaksa, the leader of the ruling coalition’s Gampaha District slate for the Parliamentary Elections, that District will be the site of the aviation and knowledge hubs. What is needed to achieve this vision ? And […]
Protest outside British embassy in Sri Lanka
March 1, 2010 (AFP) – Hundreds of Sri Lankan ruling party activists demonstrated outside the British High Commission in Colombo on Monday, denouncing what they called London’s support for Tamil separatists abroad. The protestors handed in a petition protesting against British Foreign Secretary David Miliband’s attendance last week at a meeting of expatriate Tamils whom […]