Author: lbostgadmin
Sri Lanka badly in need of more cinnamon peelers
May 13, 2011 (LBO) – Sri Lanka, the world’s biggest exporters of cinnamon, needs 10,000 more peelers to overcome an acute shortage of labour, members of the trade have told the ministry of industry and commerce. Of the 30,000 hectares of cinnamon grown in Sri Lanka, only one-fifth are peeled twice a year with 70 […]
Bank Numbers
May 13, 2011 (LBO) – Bank of Ceylon, Sri Lanka’s biggest state-owned lender, said March 2011 quarter net profit shot up 163. 1 percent to almost 2.2 billion rupees from a year ago with interest income rising much faster than interest costs. Basic earnings per share rose 163.1 percent to 1,749 rupees, the bank’s interim […]
Ship Building
May 13, 2011 (LBO) – Sri Lankan ship builder Colombo Dockyard said March 2011 quarter net profit rose 78. 4 percent to 467 million rupees from a year ago with gains from both ship building and repair. The Dockyard filing said that with effect from January 01, 2011, that it has recognised additional revenue of […]
Sri Lanka shares up 0.3-pct
May 13, 2011 (LBO) – Sri Lankan stocks closed mixed in dull trade with the market with Nation Lanka Finance the highest contributor to the day’s turnover, brokers said. The main All Share Price Index closed at 7,319. 94 up 0.26 percent (19.12 points) while the more liquid Milanka index down 0. 11 percent (7.33 […]
Sri Lanka govt expands overstaffed public service
May 12, 2011 (LBO) – Sri Lanka’s government has created a new service within an already bloated public service to give jobs to 15,000 unemployed graduates and another 15,000 youth, a statement said. The Cabinet of ministers has approved a proposal to establish a ‘Sri Lanka Development Officers’ Service’ and a ‘Sri Lanka Development Assistants’ […]
Sri Lanka launches own T20 league
May 12, 2011 (AFP) – Sri Lanka’s cricket board on Thursday announced its own glitzy Twenty20 tournament, seeking to emulate the success of the hugely popular Indian Premier League. The first edition of the Sri Lanka Premier League (SLPL) will be played over 18 days from July 19 and will feature teams from the island’s […]
Sri Lanka fabric maker makes US$7mn annual loss
May 12, 2011 (LBO) – Sri Lankan fabric maker Hayleys MGT Knitting Mills made a loss of seven million US dollars in the financial year ended March 2011 following provisioning after an audit inquiry into a fraud. Annual sales rose 17 percent to 58 million US dollars,according to interim results filed with the stock exchange […]
Australia and India launch free trade talks
SYDNEY, May 12, 2011 (AFP) – Australia and India launched talks Thursday on establishing a Free Trade Agreement (FTA) aimed at greater economic integration between the two countries. Negotiations took place between Australian Trade Minister Craig Emerson and his Indian counterpart Anand Sharma with the focus on broadening the base of merchandise trade and removing […]
Mobile Numbers
May 12, 2011 (LBO) – Sri Lankan mobile phone operator Dialog Axiata group said March 2011 net profit rose 64 percent to 1.2 billion rupees from a year ago with subscribers growing and lower losses from TV and broadband units. The profit was slightly lower than the 1.3 billion rupee net profit made in the […]
Sri Lanka tourist arrivals up 67-pct in April
May 12, 2011 (LBO) – Tourist arrivals into Sri Lanka rose 66. 7 percent to 63,835 in April 2011 from a year ago with sharp increases in visitors from south Asia and the traditional Western European markets. Total arrivals were up 40.4 percent to 278,959 in the four months to April, data from the tourist […]
Sri Lanka stocks close up 0.3-pct
May 12, 2011 (LBO) – Sri Lankan stocks recovered slightly Thursday although trading was dull throughout the day, brokers said. Commercial Bank saw a crossing of 500,000 shares at 260 rupees per share. The main All Share Price Index closed at 7,300. 82, up 0.28 percent (20.16 points) while the more liquid Milanka index rose […]
Sri Lanka, Australia lodge 2018 bid books
KUALA LUMPUR, May 11, 2011 (AFP) – Australia’s Gold Coast and Sri Lanka’s Hambantota lodged their bid books Wednesday in the contest to host the 2018 Commonwealth Games. The two cities, which are the only contenders for the right to hold the event, both vowed to spend billions of dollars to build new accommodation, hotels […]