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Sport brings hope of respite in Sri Lanka
April 26, 2007 (AFP) – Sri Lanka’s surge into cricket’s World Cup final this weekend has raised hopes of a peace dividend on an island united by sport but divided by conflict, even if no one is showing long-term optimism.Cricket is hugely popular in Sri Lanka and is seen as one of the few things […]
” charged for supporting terrorism in Sri Lanka
April 26, 2007 (LBO) – The United States has charged a senior representative of the Tamil Tigers for supporting a foreign terrorist organization, the US embassy in Colombo said in a statement Thursday. If the charges are proved, the defendant Karunakara Kandasamy also known as ‘Karuna’ faces a maximum sentence of 15 years’ imprisonment. œAs […]
Oil Chase
April 26, 2007 (LBO) – India is eyeing two oil exploration blocks in Sri Lanka with two state oil firms engaging in open bidding as well as taking a block that is being given as a special favour by their southern neighbor, reports said. The United States is also hosting Sri Lanka’s petroleum officials at […]
French businesses eye Sri Lankan investment opportunities
April 26, 2007 (LBO) – A team of French businessmen representing sectors such as textiles, shipping, energy, railways and environment is visiting the island, the French Embassy announced Thursday. The businessmen will be accompanied by French government officials from the Treasury, Finance Ministry and development agencies as well as trade advisors. The delegation will take […]
Sri Lanka treasury yields continue to move up
April 25, 2007 (LBO) – Sri Lanka Treasury bill yields edged up by an average 33 basis points to 15.84 Wednesday, while the 3-month cut-off yield topped 16.70 percent, dealers said. In April reserve money rose to 277 billion partly due to seasonal factors which the bank has to bring down as the money comes […]
Comfort Rating
April 25, 2007 (LBO) – Fitch Ratings has affirmed Merchant Credit of Sri Lanka’s investment grade BBB (lka) rating but said the finance companies non-performing loans were on the rise and profitability had fallen. Fitch said the outlook was stable and the rating took into account the implied support assumed to be available from its […]
‘s Talawakelle Tea estate profits dip after strike
April 25, 2007 (LBO) – Hayleys subsidiary Talawakelle Tea Estates (TTEL), has reported a sharp fall in first quarter profits after a strike crippled production late last year.Net profit for the three months ended March 31, 2007 fell 60 percent to 30.2 million rupees from 75.8 million rupees in the same 2006 period.Revenue was down 16 […]
Flying Engineers
April 25, 2007 (LBO) – SriLankan Airlines engineering unit that does third party aircraft maintenance is aiming for European standard certification that would allow it to extend the business to European airlines. We are currently working towards obtaining certification in the European standard EASA (European Aviation Safety Agency), which would enable us to carry out […]
Teaching Lessons
April 25, 2007 (LBO) – Two successful family owned businesses, Hemas Holdings Limited and Ceylon Biscuits Limited (CBL), have become case studies for students of a Sri Lankan post graduate school. The project was conducted by the faculty and students of the Post Graduate Institute of Management (PIM), funded by the USAID under The Competitiveness […]
Cricket fever is over as road blast kills policemen
April 25, 2007 (AFP) – Tamil Tiger rebels and Sri Lankan soldiers held a truce as their national side marched to the World Cup final, but violence broke out soon after stumps were drawn.Five hours after the semi-final against New Zealand ended in Jamaica early Wednesday, two policemen were killed in a roadside blast. Suspected […]