Author: lbostgadmin
Blocked Sri Lanka tea pouring in to Iraq: trade ministry
Mar 05, 2013 (LBO) – Shipments of Sri Lanka tea detained at the Iraqi border have been allowed into the country from March 04, two weeks after a meeting between ministers of the two countries, the commerce ministry said. The trade ministry said Sri Lanka’s Anverally & Sons (Pvt) Ltd, Georgre Stuart Teas (Pvt) Ltd, […]
Niche Builder
Mar 05, 2013 (LBO) – Sri Lanka’s Colombo Dockyard Plc, a unit of Japan’s Onomichi Dockyard Co. Ltd, said profits grew 28 percent to 1.9 billion rupees helped by new buildings, amid tough conditions for ship repairs. In the December quarter the group reported earnings of 434 million rupees, up 7.9 percent from a year […]
Rail Loan
Mar 05, 2013 (LBO) – Sri Lanka will get US8 million dollars in loans from China to build 26.75 kilometres of rail track from Matara to Beliatta in the South of the island, the finance ministry said. The Exim Bank of China will provide 200 million US dollars under an agreement signed on February 18 […]
IT Hub
Mar 04, 2013 (LBO) – Volume, a UK-based digital marketing applications firm that makes web and mobile applications has set up a technology hub in Sri Lanka, which they hope to grow to serve markets in multiple time zones, officials said.“Our office in Colombo will become an important regional hub for our business,” Chris Sykes, […]
Growth Industry
Mar 04, 2013 (LBO) – The headcount of Sri Lanka’s major export software and outsourcing firms have grown 14 to 21 percent a year during the past three years, according to a salary and benefits survey among its members, an industry association said. A 2010 report, The ICT Export Value Survey 2010, commissioned by Sri […]
Sri Lanka to continue relaxing exchange controls: CB governor
March 03, 2013 (LBO) – Sri Lanka will continue to liberalise foreign exchange controls to encourage the investments needed to maintain high economic growth, Central bank governor Nivard Cabraal said. “The thinking now is to try to have faster growth for which we need more savings and investment which, if not available in our own […]
Sri Lanka Mattala flights by Air Arabia
Mar 02, 2013 (LBO) – Air Arabia, a UAE based budget carrier will launch twice weekly flights to Sri Lanka’s second international airport in Mattala from March 18, a media report said.It will start flights between Sharjah and Mattala, Arabian Business, a Middle Eastern business news portal said. “Just a few months after our inception […]
Sri Lanka Nestle unit net up 56-pct
Mar 02, 2013 (LBO) – Nestle Lanka Plc, a unit of a Swiss-based food group said profits rose 56 percent to 949 million rupees in the December 2012 quarter from a year earlier, and payments to local farmers topped 4.0 billion rupees. Total payments to dairy and coconut farmers topped 4.0 billion rupees. The firm […]
Nothing There
Mar 01, 2013 (LBO) – Cairn Lanka (Pvt) Ltd has not found any oil in its fourth exploration well, its parent company said in a stock exchange filing.Cairn India said the well found “thick high quality re servoir sands, which were not hydrocarbon bearing,” and it was plugged and abandoned. The data from the well […]
Sri Lanka cricket captain to talk business with directors
Mar 01, 2013 (LBO) – Sri Lanka cricket captain Kumar Sangakkara will address top business executives at an event organized by the Sri Lanka Institute of Directors. The interview will also cover the views of the Cricket Captain on women in the game, celebrity status big money and corruption in sports. The forum will held […]
Sri Lanka poultry firms in the red on higher costs, weaker sales
Mar 01, 2013 (LBO) – Sri Lanka’s Ceylon Grain Elevators, which has interests in feed-milling, hatchery and poultry meat said it lost 229 million rupees in the December 2012 quarter on weak sales and higher costs.The group reported a loss of 2.82 rupees per share for the quarter, in accounts filed with the Colombo Stock […]
Sri Lanka targets China tourists
Mar 01, 2013 (LBO) – Sri Lanka will invite over 100 travel agents from China as part of efforts to boost visitors from the country where outbound tourism is growing, minister Keheliya Rambukwelle said. The cabinet of minister had approved a proposal by minister Basil Rajapaksa to invite the travel agents on a familiarization tour […]