Author: lbostgadmin
Port Premium
Sep 02, 2011 (LBO) – The state-run Sri Lanka Ports Authority (SLPA) is to provide medical insurance for its employees with the cost borne by the authority which is hugely overstaffed and lost money last year. The SLPA has signed a deal with the National Insurance Trust Fund (NITF) to provide a “comprehensive Medical Insurance […]
Sri Lanka stocks stagnant
Sep 02, 2011 (LBO) – Sri Lanka’s stock market remained stagnant Friday after two big deals sent indices and turnover up sharply Thursday, brokers said. The main All Share Price Index closed at 6,950.61, down 0.01 percent (0.89 points) while the more liquid Milanka index fell 0.07 percent (4.64 points) to close at 6,297.12, according […]
Hactivism
Sep 01, 2011 (LBO) – A group of hackers said to be from Sri Lanka are claiming to have ‘DNS poisoned’ a series of internet servers related to domestic and foreign entities, where viewers are misdirected, using a recently exposed flaw, reports said. A patch for the flaw in DNS servers, discovered by Dan Kaminsky, […]
Detention Order
Aug 31, 2011 (AFP) – Sri Lanka on Wednesday used draconian anti-terror laws to detain thousands of Tamil rebel suspects who would have had to be freed when a state of emergency ended after 28 years, an official said. Attorney General Mohan Peiris said President Mahinda Rajapakse invoked regulations under the Prevention of Terrorism Act […]
Brand Builder
Sept 01, 2011 (LBO) – Sri Lanka’s Cargills group, which has interests in foods and retailing said it will launch a new biscuit brand after buying a confectionery firm that earlier had a regional market. The firm also has an ice cream brand, Cargills Magic, which it says is now the top dairy ice cream […]
Sri Lanka Hayleys buys control of Amaya Leisure
Sep 01, 2011 (LBO) – Sri Lanka’s Hayleys conglomerate has spent 2. 6 billion rupees to buy a 51 percent stake in hotel firm Amaya Leisure owned by Hayleys deputy chairman Dhammika Perera, a stock exchange filing said. The transactions of 24,497,461 Amaya Leisure shares were done in five crossings or off-market private deals by […]
Sri Lanka JKH in joint venture to build Rs2.90bn business hotel
Sep 01, 2011 (LBO) – Sri Lanka’s John Keells Holdings (JKH) group plans to build a 25 storey, 240-room business hotel in Colombo with an investment of 2. 90 billion rupees in a joint venture with Sanken Lanka. JKH aims to have up to 1,000 business hotel rooms to cater to growing numbers of business […]
Investment Funds
Sep 01, 2011 (LBO) – Sri Lanka’s Commercial Bank has begun concessionary long term lending from an investment fund created with savings made from tax cuts under a proposal made in the government’s 2011 budget. The statement said state institutions can now borrow direct from local banks instead of being dependent on Treasury borrowings from […]
Sri Lanka stocks up, Dhammika Perera ups Hayleys stake
Sep 01, 2011 (LBO) – Sri Lanka’s stock market closed higher Thursday with big deals by high-net-worth investor Dhammika Perera pushing turnover over eight billion rupees, brokers said. The main All Share Price Index closed at 6,951. 50, up 1.05 percent (72.21 points) while the more liquid Milanka index rose 1. 09 percent (67.94 points) […]
Sri Lanka accountants meet to mull new rules, post-war prospects
Aug 31, 2011 (LBO) – Post-war business opportunities and the transition to new global accounting rules will be among the topics to be discussed at a conference organised by the Institute of Chartered Accountants of Sri Lanka. Mudalige said demand for conference participation has grown so much that they had to hold it at the […]
Pakistan announces Sri Lanka itinerary
KARACHI, August 30, 2011 (AFP) – Pakistan announced Tuesday the itinerary for their autumn series against Sri Lanka to be played in the neutral territory of the United Arab Emirates. Pakistan have been forced to play on foreign soil since a terrorist attack on the Sri Lankan team bus in Lahore two years ago shattered […]
Sri Lanka Browns to increase hydropower generation
Aug 31, 2011 (LBO) – Sri Lanka’s Browns Investments has said it plans to make use of its plantations to generate more hydropower and increase capacity to 16 megawatts and sell electricity to the national grid. Free Lanka Capital Holdings, a joint venture between Browns and Perpetual Holdings, is the holding company of Pussellawa and […]