Author: lbostgadmin
Sri Lanka sexes up image for tea
KANDANA, Sri Lanka,(AFP) – A hot cup of Ceylon tea is better known as being soothing and relaxing, but Sri Lanka is now marketing its most profitable export as a luxury boost for the libido.The tea industry is increasingly plugging Ceylon’s supposed aphrodisiac qualities in a bid to radically change perceptions of the brew, which […]
James Packer targets Asian high-rollers with new Sydney casino
Sydney, May 16, 2013 (AFP) – Tycoon James Packer has picked a British firm to design his proposed billion-dollar casino for Asian high-rollers in Sydney, saying Thursday it will be “instantly recognisable around the world”. The Australian mogul wants his 60-storey building to rival the Sydney Opera House in the iconic structure stakes and to […]
Better Trade
May 16, 2013 (LBO) – Small businesses in Sri Lanka and the Maldives will soon have access sophisticated financial products to engage in international trade, International Finance Corporation (IFC), a member of the World Bank Group said. The organization also provides advisory services to for small and medium enterprises by improving access to finance, and […]
Sri Lanka rupee strengthens amid tight liquidity
May 16, 2013 (LBO) – Sri Lanka’s rupee strengthened to 125.70/80 to the US dollars in the spot in mid morning trade Thursday, amid tight liquidity but a two week liquidity auction has been announced, dealers said. The Central Bank cut its policy interest corridor by 50 basis points to 7.00 and 9.00 percent last […]
‘s economic exuberance wanes
COLOMBO, May 15, 2013 (AFP) – After crushing Tamil rebels four years ago Sri Lanka expected to become South Asia’s tiger economy, but exuberance has given way to mediocre growth and fears of more trouble ahead.The country was almost broke when troops defeated separatist Tamil Tigers in May 2009, but Colombo predicted that ending 37 […]
‘s Krrish to pay up
May 15, 2013 (LBO) – Sri Lanka has given India’s Krrish group till May 31 to complete their payments charging 12 percent interest for an extension, investment promotion minister Lakshman Abeywardena said.Out of 4,995 million rupees due for land leased for a mixed development project, the company had so far paid 4,049 million rupees or […]
‘s Ceylinco Insurance net up 55-pct
May 15, 2013 (LBO) – Sri Lanka’s Ceylinco Insurance, the island’s largest insurer by written premium said net profits rose 55 percent to 326 million rupees in the March 2013 quarter, from a year earlier.The firm reported earnings of 12.37 rupees per share. Group gross written premium rose 10 percent to 6.0 billion rupees in […]
Seven killed in floods, mudslides in Sri Lanka
COLOMBO, May 15, 2013 (AFP) – At least seven people have been killed and two are missing in floods and mudslides following heavy rain across Sri Lanka, the disaster management centre said Wednesday.Sri Lanka depends on monsoon rains for irrigation and power generation, but the seasonal downpours frequently cause deaths along with damage to property.A […]
NormalProfits
May 15, 2013 (LBO) – Profits at Sri Lanka Telecom group the island’s sole wireline operator which also has mobile services rose 226 percent to 1.6 billion rupees recovering from forex losses suffered last year.The group reported earnings of 89 cents per share. Revenues rose 5 percent to 14.4 billion rupees in the quarter and […]
E-Forum
May 15, 2013 (LBO) – International and local experts will discuss the future of e-ecommerce which is now growing very fast in the Asia-Pacific region with growing internet penetration and legal reforms that help internet transactions, at a forum in Colombo. Sri Lanka Association of Software and Service Companies said a ‘CXO Briefing’ on May […]
Sri Lanka in aquaculture drive with Vietnam
May 15, 2013 (LBO) – Sri Lanka is embarking on an aquaculture drive with technical support from Vietnam starting with culturing sea cucumber, seaweed and lobster fattening and also help devise a master plan, officials said.A team from Vietnam’s Research Institute for Aquaculture Number 3 began working with Sri Lanka’s National Aquaculture Development Authority (NAQDA) […]
‘s Crown applies to invest in Sri Lanka: minister
May 15, 2013 (LBO) – Melbourne based Crown group has submitted an investment application to Sri Lanka which is pending approval, investment promotion minister Lakshman Abeywardena said.. Crown, an entertainment and gaming group has been planning a 350 million US dollar mixed development in Sri Lanka’s capital Colombo, according to reports. Sri Lanka has also […]