Author: lbostgadmin
”s Avic
Sep 09, 2013 (LBO) – Sri Lanka’s Lee Hedges Plc is seeking shareholder nod to sell land worth 1.24 billion rupees to a Chinese led mixed development project. Lee Hedges said it is selling 181 perches of land (about 1.2 acres) to Avic International Hotels Lanka Ltd, promoted by Chinese defence contractor Avic. The firm […]
Sri Lanka rubber exporter hit by falling prices
Sep 09, 2013 (LBO) – Sri Lanka’s Eastern Merchants, a rubber export firm said it lost 17 million rupees in the year to March 2013, from a profit of 105 million rupees a year earlier as world rubber prices dropped.Car sales in India had plunged 20 percent and listed Indian tyre companies had also performed […]
‘s EAP Films and Theatres rated BBB+ by RAM
Sept 09, 2013 (LBO) – Sri Lanka’s EAP Films and Theatres (Pvt) Ltd, a company which has a 60 percent share in local film exhibition market and owns and manages 45 theatres, has been rated BBB+ by RAM. The rating agency said the firm plans to sell 500 million rupees of listed senior secured debt. […]
Nasheed faces tricky run-off in Maldives election
MALÉ, September 8, 2013 (AFP) – The ex-leader of the Maldives, Mohamed Nasheed, faced disappointment Sunday after failing to secure a majority in presidential polls he hoped would seal his return to power 18 months after he was toppled.Nasheed now faces a tricky run-off election on September 28 after he won the first round of […]
New India central bank chief may face short honeymoon
NEW DELHI, September 8, 2013 (AFP) – The euphoria which greeted new central bank governor Raghuram Rajan has been unprecedented in India’s normally sober financial world but the honeymoon may be shortlived.In fact, Rajan’s comments suggest he is likely to be “more hawkish”, said CLSA economist Rajeev Malik said. The former top finance ministry advisor […]
Sri Lanka Muslim leader warns against extremism claims
COLOMBO, September 6, 2013 (AFP) – Sri Lanka’s main Muslim political leader, who is also the justice minister, criticised his own government Friday for blaming religious tensions in the mainly Buddhist nation on Islamic fundamentalism.Rauf Hakeem said he had been “disturbed” by recent comments from the country’s defence secretary, Gotabhaya Rajapakse which warned of efforts […]
Arrested
COLOMBO, September 7, 2013 (AFP) – Sri Lankan police have arrested a navy officer suspected of involvement in smuggling people in fishing boats to Australia, officials said Saturday. Australia announced tough new measures in mid-July to discourage illegal boatpeople. Since then, local police have apprehended three boats and detained 300 Sri Lankans, including 56 women […]
Sri Lanka offered hi-tec dairy farm by Dutch firm
Sept 06, 2013 (LBO) – A Netherlands based company has offered to set up a hi-tec dairy farm with processing facilities with high yield milch cows, provided suitable land with fresh water is made available, officials said. Velema Holdings, a Netherland based investment firm, is offering to put together a turnkey dairy facility if about […]
Opposition Warning
Sept 06, 2013 (LBO) – Sri Lanka’s main opposition has warned that several finance companies are taking public deposits without meeting minimum statutory requirements, saying action was needed prevent disasters. “It is well known to the regulators and financial analysts that several finance companies who are still taking public deposits are on the verge of […]
Sri Lanka and India in link to boost textile sector
Sept 05, 2013 (LBO) – India and Sri Lanka will sign a deal to promote handloom, powerloom and textile as a delegation visits the island during a fabric exhibition to be held next week.Zohra Chatterji, secretary of the ministry of textiles will lead a business and official delegation to the island and sign a memorandum […]
” violence
MALE, September 5, 2013 (AFP) – The Indian Ocean archipelago of the Maldives goes to the polls this weekend for a presidential election that will test its young democracy 18 months after a violent change in leadership. Its more than 1,000 islands sit aside the world’s most important east-west shipping channel and its strategic location […]
‘s plans
MUMBAI, September 5, 2013 (AFP) – India’s rupee strengthened and stocks jumped Thursday after new central bank governor Raghuram Rajan outlined a reform plan aimed at boosting investor confidence and stabilising the ailing currency.The rupee climbed to 65.75 against the dollar, gaining nearly two percent from its previous close, on investor hopes the worst could […]