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Sri Lankan stocks close 0.81-pct up
Feb 17, 2010 (LBO) – Sri Lankan stocks recovered Wednesday on gains in the prices of shares with a heavy weighting on the indices like Distilleries, Sampath Bank, Aitken Spence and Environmental Resources, brokers said. The All Share Price Index closed at 3,721.12, up 0.81 percent (30.08) points while the Milanka index of more liquid […]
Terminal Target
Feb 17, 2010 (LBO) – Construction of a new deep-water container terminal to be built and run by the private sector in Colombo port is to start in the second quarter of this year, a Sri Lanka port official said. Colombo port’s cargo flows are also recovering as trade recovers from recession, Wickrama said. “Our […]
High Capacity
February 17, 2010 (LBO) – Sri Lankan computer hardware distributor eSys Technologies has launched a range of high capacity, eco-friendly network storage devices. The products include Universal Tech’s NoTouchâ„¢ Elite 2800 External Storage and MyXerverâ„¢ MX3600 Network Storage devices, eSys said in a statement. Universal Tech is an Asian brand for external storage devices, offering […]
Pirate Peril
Feb 17, 2010 (LBO) – Software piracy by private sector companies in Sri Lanka is the main problem facing software developers, the Business Software Alliance (BSA), an industry body said. The organization, which represents the commercial software industry and its hardware partners, said in a statement it has taken legal action against companies using pirated […]
Bharti founder hopes to be third time lucky with Africa bid
NEW DELHI, February 17, 2010 (AFP) – Indian telecom tycoon Sunil Bharti Mittal is hoping to make it third time lucky as he seeks to gain a presence in Africa, one of the world’s least developed mobile phone markets. After two failed attempts to tie up with South African flagship MTN, the founder-chairman of cellular […]
Sri Lanka Airlines upgrades product to boost margins
Feb 17, 2010 (LBO) – SriLankan Airlines, Sri Lanka’s state-run national career, is upgrading its product to boost margins following a revival in tourism traffic and is expecting to turnaround later in 2010, an official said. In the financial year ending March 2009 Sri Lankan lost 9.99 billion rupees as global air travel slumped and […]
Sri Lanka negotiating with Emirates to buy national carrier stake
Feb 17, 2010 (LBO) – Sri Lanka’s government is negotiating with Dubai-based Emirates to buy its stake in Sri Lankan Airlines, the island’s state-run national carrier, chairman Nishanta Wickremasinghe said. But with a revival in tourist arrivals to Sri Lanka after the end of a 30-year war, the airline is expecting a turnaround later in […]
Sri Lanka gets ADB, Japan help to improve electricity services
Feb 17, 2010 (LBO) – The Asian Development Bank (ADB) and Japan will provide support to Sri Lanka to improve its power transmission system and expand rural electrification, an ADB statement said. It is also expected to reduce poverty by improving access to electricity in rural areas, and enhance energy efficiency and renewable energy development, […]
Fuel Fortunes
Feb 17, 2010 (LBO) – The Sri Lanka unit of Indian Oil Corporation said it made a ˜nominal’ profit in the December quarter compared with a loss a year ago on higher petrol prices and other products like marine fuel and lubricants. Government-mandated retail petrol prices were cut by 15 rupees a litre on December […]
Sri Lanka draws Chinese investors
Feb 17, 2010 (LBO) – A Chinese economic delegation from its Yunnan province is visiting Sri Lanka to study the economic and investment climate in Sri Lanka, the Board of Investment said. The island’s investment promotion agency said in a statement the 15-member delegation consists of senior Chinese economists and researchers. The BOI statement quoted […]