Author: lbostgadmin
Kimberly Process
By US Ambassador Gillian Milovanovic, Kimberley Process Chair Oct 05, 2012 (LBO) – Almost a decade ago, the consensus-based Kimberley Process (KP) certification scheme established minimum requirements for global rough diamond production and trade. Today, to keep pace with a changing world, the KP’s 77 participant countries, observers from industry, and civil society must ensure […]
‘s Aitken Spence in renewable energy drive
Oct 05, 2012 (LBO) – Sri Lanka’s Aitken Spence, which owns and operates hotels inSri Lanka, Maldives, India and Oman said it has started a drive into renewable energy which was helping the firm cut fossil fuel use. The group had installed gliricidia wood burning biomass gasifiers to run boilers at Heritance Tea Factory in […]
‘s Minor
Oct 05, 2012 (LBO) – Minor International, a Thailand based leisure group said it had bought Paradise Island Resorts (Private) Limited, a beach resort in Sri Lanka for an undisclosed sum. Thailand’s Onyx Hospitality is also building an ‘Ozo’ branded city hotel in Sri Lanka’s capital Colombo with local joint venture partners. The group said […]
Sri Lanka stocks close up 0.31 pct
October 05, 2012 (LBO) – Sri Lanka stocks closed up 0.31 percent Friday The Colombo All Share Index closed at 5,879.69 up 18.34 points and the S & P SL 20 Index closed 9.18 points lower at 5,466.50 down 0.17 percent. Turnover was 551 million rupees. Top contributors to turnover were LOLC with Rs.133 million, […]
Iran heading for hyperinflation: Steve Hanke
Oct 04, 2012 (LBO) – Iran is heading for hyperinflation with a collapsing Riyal driving up prices above a 50 percent a month threshold, as US led economic sanctions hurt state revenues, a top monetary economist has said. Hanke says the black market and official exchange rates began to diverge after July 2010 when President […]
Sri Lanka to build high rises for shanty-dwellers
Oct 04, 2012 (LBO) – Sri Lanka’s urban agency will be given state land in 15 locations to build high rise apartments for people living in underserved settlements in the capital Colombo, cabinet spokesman minister Keheliya Rambukwelle said. The agency has already awarded contracts to build 9,781 housing unit in 11 locations in Colombo which […]
‘s ITC
Oct 04, 2012 (LBO) – India’s ITC Limited will build a 140 million US dollar mixed development including a hotel, shopping mall and apartments in Sri Lanka’s capital Colombo, minister Keheliya Rambukwelle said. ITC has been given state land in Colombo’s ‘Galle Face’ beachfront. Though earlier reports said ITC may operate a ‘Sheraton’ branded hotel […]
Health Investment
Oct 04, 2012 (LBO) – Actis Investment Holding SL Limited, said it had invested 2.26 billion rupees through a private placement of shares in Sri Lanka’s Asiri Hospital Holdings Plc, a Colombo listed company. Sri Lanka’s Colombo Stock Exchange the stock has been listed from October 03. Actis said the investment, which was 19. 09 […]
Sri Lanka drought dries up tea company cash flows
Oct 04, 2012 (LBO) – A severe drought has damaged tea plants in key Sri Lankan growing regions causing crop losses and cash flow problems for some plantations companies already grappling with high production costs. A statement from the Planters’ Association, which represents listed plantation companies, said some factories had been forced to close owing […]
Sri Lanka stocks closed down 0.50 pct
October 04, 2012 (LBO) – Sri Lanka stocks closed down 0.50 percent Thursday continuing a three day losing streak. The Colombo All Share Index closed at 5,861.35 down 29.34 points and the S & P SL 20 Index closed 12.06 points lower at 3,177.88 down 12.06 percent. Turnover was 565 million rupees. Top contributors to […]
India starts kicks off second stage of housing project
Oct 03, 2012 (LBO) – India has started the second phase of building and repairing 43,000 houses in Sri Lanka’s war ravaged Northern and Eastern provinces under a 270 million US dollar grant aid project targeting 50,000 homes. Each beneficiary would be given 550,000 rupees (230,000 Indian rupees) for a new house in installments and […]
SriLankan Airlines to host IATA HR confab
September 03, 2012 (LBO) – National carrier Sri Lankan airlines is set to host the second International Air Transport Association (IATA) Global Human Capital Summit in Colombo giving a boost to the island’s push towards becoming a global aviation hub. “The IATA summit brings together the best in global aviation to share and discuss their […]