Author: lbostgadmin
Sri Lanka plantations, private power firms to get ADB funds
June 20, 2011 (LBO) – Sri Lanka has signed a deal with the Asian Development Bank (ADB) to get financial aid worth 120 million US dollars part of which will go to private power firms and hydro schemes on plantations. “The project will contribute to a reliable, adequate and affordable power supply for balanced and […]
Sri Lanka textile firm to raise Rs1.2bn in July IPO
June 20, 2011 (LBO) – Textured Jersey Lanka, a Hong Kong Sri Lanka joint venture textile firm said it is raising 1.2 billion rupees in an initial public offer by selling 80 million shares at 15 rupees. In April the firm said it raised 1.74 billion rupees through a private placement. The Colombo Stock Exchange […]
Sri Lanka Textured Jersey to expand fabric production
June 20, 2011 (LBO) – Sri Lankan fabric supplier Textured Jersey Lanka plans to use funds raised through a private placement and a forthcoming public offer to expand production and buy modern machinery to improve efficiency. Subsequent to the IPO, Pacific Textiles, through its wholly owned subsidiary Pacific Textured Jersey Holdings, and Brandix Lanka, will […]
Unpaid Work
AMARA, June 19, 2011 (AFP) – Thirty Sri Lankan construction workers in southern Iraq have been on a five-day hunger strike because they have not been paid for the past two years by their Iraqi employers, the labourers said Sunday. Thousands of South Asian workers are employed in menial jobs in oil-rich Iraq, many working […]
Sri Lanka stocks end weaker
June 20, 2011 (LBO) – Sri Lankan stocks closed 0. 13 percent lower Monday with continuous forced selling due to credit issues, brokers said. The All Share Price Index closed at 7,040.68, down 0.13percent (9.35 points) while the Milanka Price Index of more liquid stocks closed at 6,603. 20, up 0.04 percent (2.33 points), according […]
Russian Interest
June 19, 2011 (LBO) – A team from Russia’s Gazprom would visit Sri Lanka to discuss oil exploration, building a refinery and using liquefied natural gas in the island following a meeting with visiting President Mahinda Rajapaksa. A government statement said President Rajapaksa met Gazprom chief Alexei Miller at an economy form in St. Petersburg […]
No ton no problem for Pietersen
SOUTHAMPTON, June 18, 2011 (AFP) – Kevin Pietersen insisted he felt “a lot of happiness” despite missing out on a Test century against Sri Lanka at the Rose Bowl here on Saturday. Pietersen made a fluent 85 to help England to 195 for four at stumps on the third day of the third and final […]
Pilatus to sign record aircraft deal with India: report
GENEVA, June 18, 2011 (AFP) – Switzerland’s Pilatus Aircraft is about to sign a record deal to supply 75 of its successful PC-7 trainers to the Indian Air Force for 850 million francs ( billion), a press report said Saturday. The daily Le Temps, which described the contract as the biggest in the company’s history, […]
Media Profits
June 19, 2011 (LBO) – Profits of Sri Lanka’s state media enterprise rose in 2010, with profits of Independent Television Network (ITN) television station rising 66 percent to 308 million rupees, a finance ministry report said. Sri Lanka Broadcasting Corporation, a state radio station had posted up profits of 42. 6 million rupees, up from […]
Tremlett rips through Sri Lanka batting order
SOUTHAMPTON, June 17, 2011 (AFP) – Chris Tremlett marked his return to the Rose Bowl with a Test-best haul to leave Sri Lanka on 177 for nine when rain forced an early close to the second day of the third and final Test here on Friday. Fast bowler Tremlett took six for 42 in 18.2 […]
Three baby elephants killed by Sri Lankan train
June 18, 2011 (AFP) – Three baby elephants were killed when they were hit by a passenger train in Sri Lanka on Saturday, an official said. The trio were crossing the tracks in a forested area near Ambanpola, 93 miles (150 kilometres) north of Colombo, when they were struck by a passenger train bound for […]
Network Opportunity
June 18, 2011 (LBO) – Sri Lanka’s bourse could become one of the partners of London Stock Exchange’s ‘international board’ project where foreign stock exchanges are allowed access to its market participants and liquidity, an official said. Weerasinghe said the international board will give a less costly way for participants in the London Stock Exchange […]