Author: lbostgadmin
Sri Lanka Renuka Agri Foods to buy dairy firm
Jan 17, 2012 (LBO) – Sri Lanka’s Renuka Agri Foods plans to buy control of Richlife Dairies Limited, a manufacturer of dairy and fruit products, a stock exchange filing said. Renuka Agri Foods said it has signed an agreement to purchase 76 percent of the issued capital of Richlife Dairies. The deal grants Renuka Agri […]
Sri Lanka small leisure firms on show
Jan 17, 2012 (LBO) – Sri Lanka’s small leisure sector players including many start-ups will showcase their services at an industry fair on January 31, where they can link up with larger players, officials said. “A large number of small guest houses, restaurants have come up in many areas some in very beautiful locations but […]
Sri Lanka Softlogic to build luxury resort on east coast
Jan 17, 2012 (LBO) – Sri Lanka’s Softlogic Holdings group plans to build a luxury resort on the island’s east coast with an investment of 200 million rupees in deal with Ominga International, a statement said. The company entered into a shareholders’ agreement with the shareholders of Ominga International (Private) Limited on January 13, 2012 […]
Credit Trend
Jan 17, 2012 (LBO) – Sri Lanka’s credit to business from commercial banks rose to a new historic high of 63. 2 billion rupees in November helped by liquidity injections to offset foreign exchange interventions, official data showed. In the 12-months to November 2011, credit to business grew 33.5 percent to 1,945.7 billion rupees against […]
Sri Lanka shares slump despite more broker credit
Jan 17, 2012 (LBO) – Sri Lankan shares ended weaker Tuesday, failing to hold on to gains in a sharp rally at the opening, despite the regulator allowing brokers to lend more money to buy stocks, brokers said. The main All Share Price Index closed down 0.08 percent (4.73 points) at 5,924.61, while the more […]
Sri Lanka govt probe seen failing to win confidence of Tamils
Jan 16, 2012 (LBO) – Sri Lanka’s main minority Tamil political party has rejected a government investigation into the ethnic war, saying it lacked credibility and even its interim recommendations a year ago were not implemented. The commission also recommended that people who are discharged be given a certificate to prevent being re-arrested but even […]
Sri Lanka, India fisheries talks soft on poaching
Jan 15, 2012 (LBO) – Talks between India and Sri Lanka on fisheries have ended with no deal on firm action to stop poaching by south Indian fishermen in the island’s northern waters. “Acknowledging that fisheries involved the socio-economic and livelihood dimensions of the fishermen living in coastal areas in India and Sri Lanka, the […]
Infosys says on track to meet 45,000 hiring target
BANGALORE, (Asia Pulse) – India’s Infosys Technologies said it is well on track to meet its target of hiring 45,000 persons this fiscal year and will focus on local hiring. “People addition is on track for 45,000 (employee hiring) target for the financial year 2012. The company will focus on local hiring.We have hired 1,000 […]
Sri Lanka leads on low holiday costs: UK survey
Jan 14, 2011 (LBO) – Sri Lanka is leading on low holiday costs for Britons with competitive prices for eight popular holiday items surveyed including a dinner for two, an annual survey by UK’s Post Office showed. Sri Lanka had the lowest holiday costs among 40 destinations surveyed at 27. 95 British pounds down 31 […]
ASEAN, India sign deal on tourism co-operation
MANADO, North Sulawesi, Jan 13 (AsiaPulse) – ASEAN and India have signed an MoU on the promotion of tourism cooperation. The MoU which will serve as an umbrella of cooperation in facilitating tourist travel and visits, was signed by Indonesian Minister of Tourism and Creative Economy Mari Elka Pangestu and Indian Tourism Minister Subodh Kant […]
Terminal Talks
Jan 13, 2012 (LBO) – Sri Lanka’s Aiken Spence group has confirmed it was renegotiating a contract to build a deep-water container terminal with a Chinese shipping group after reports that it would pull out as costs had escalated beyond its means. Aitken Spence had reportedly been forced to pull out of the deal, the […]
Sri Lanka stocks end down 0.2-pct
Jan 13, 2012 (LBO) – Sri Lankan stocks closed weaker Friday, losing some of the gains in Thursday’s rally, although turnover stayed above a billion rupees, brokers said. The main All Share Price Index closed down 0. 22 percent (13.13 points) at 5,929.34, while the more liquid Milanka index fell 0. 39 percent (19.59 points) […]