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Sri Lanka makes more reforms but slips in Doing Business ranking
Oct 29, 2013 (LBO) – Sri Lanka made the most changes in South Asia making it easier to do business, but the country slipped to 85 from 81 in a global ranking compiled by the World Bank group as several other nations raced ahead.The World Bank group’s ‘Doing Business 2014’ report said Sri Lanka was […]
‘s Keells Hotels profits up 113-pct
Oct 29, 2013 (LBO) – Profits at Sri Lanka’s Keells Hotels Plc rose 113 percent to 250 million rupees in the September 2013 quarter form a year earlier, helped by strong results in the Maldives, interim accounts showed. In the September quarter total revenues rose 30 percent to 2.5 billion rupees, cost of sales rose […]
Top Destination
Oct 28, 2013 (LBO) – Sri Lanka has been named the ‘Outsourcing Destination of the Year’ by UK’s National Outsourcing Association (NOA), Sri Lanka’s business chamber for information technology businesses said.Sri Lanka has been ranked top 25 among global outsourcing destinations by AT Kearney, a consultancy. Gartner another consultancy had put the country among the […]
Sri Lanka stocks closed down 0.3-pct, rupee weaker
Oct 29, 2013 (LBO) – Sri Lanka stocks closed 0.38 percent lower amidst speculative trades and the rupee weakened amid excess rupee liquidity in the banking system. The Colombo benchmark All Share Price Index closed 22.44 points lower at 5,906.53, down 0.38 percent, after reaching an intra-day high of 5,931.95. The S&P SL20 closed 1.14 […]
‘s Vidullanka mini-hydro firm ratings confirmed: RAM
Oct 28, 2013 (LBO) – RAM Ratings has confirmed a ‘A-‘ rating of Vidullanka Plc, which owns mini-hydro plants and provides consultancy. However, we note that the revenue generated by each plant of the Group highly depends on rainfall in the plant’s catchment area. This is reflected in the positive correlation between revenue and plant […]
” by RAM
Oct 28, 2013 (LBO) – Sri Lanka’s Amana Takaful Plc (ATL), an Islamic financier has been rated ‘BBB’ by RAM Ratings Lanka with a stable outlook. “The ratings are supported by ATL’s above-average general insurance underwriting performance, conservative investment policy and above-average capitalisation levels,” RAM said. “On the other hand, the ratings are weighed down […]
Sri Lanka route to slash Asia-Africa travel time
Oct 28, 2013 (LBO) – Travel time to African destinations from South Asia and the Far East will be cut by around three hours through a new route from Sri Lanka via Seychelles, an official said.Asia is an aviation growth region especially in the ASEAN region with privately owned budget carriers coming on expanding fast […]
‘s top carmaker Maruti posts rise in profits
NEW DELHI, October 28, 2013 (AFP) – India’s top carmaker Maruti Suzuki Monday posted a nearly threefold jump in its quarterly net profit compared to the same period last year when production was hit by a labour dispute.Net profit was 6.70 billion rupees (9 million) for the three months ending September 30, compared with 2.27 […]
” discovered in remote Australia
SYDNEY, October 28, 2013 (AFP) – An expedition to a remote part of northern Australia has uncovered three new vertebrate species isolated for millions of years, with scientists Monday calling the area a “lost world”.buy cymbalta Canada buy cymbalta Tim Laman, a National Geographic photographer and Harvard University researcher who joined Hoskin on the expedition, […]
Tech Hub
Oct 28, 2013 (LBO) – MillenniumIT, a Sri Lanka based unit of London Stock Exchange group has expanded its technology campus opening a new building, which the firm says is built to promote innovation.It uses natural light which is filtered to reduce the glare, as tropical sunlight makes it difficult to read computer screens easily. […]
Paradise Isle
Oct 28, 2013 (LBO) Sri Lanka opened its second expressway Sunday linking the capital with the country’s main international airport with some 250 million dollars borrowed from China.If the government paid the bill in brand-new 1,000 rupee notes, they would have to deliver 35 tonnes of cash.Despite the staggering cost, the expressway would be welcome […]
Pub Investments
Oct 28, 2013 (LBO) – Sri Lanka’s Ceylon Beverage Holdings Ltd, a top brewery firm said it was investing 238 million rupees in its restaurant unit. The firm said it was pumping equity into Pubs ‘N Places Private Ltd, a fully owned subsidiary. The unit owns and franchises restaurants.