Author: lbostgadmin
Health Business
Mar 04, 2011 (LBO) – India’s Fortis Healthcare group has bought a stake owned by Sri Lanka’s Distilleries in Lanka Hospitals, formerly part of the Indian Apollo chain, for 3. 98 billion rupees as part of a recent acquisition spree. Fortis Healthcare Global Holding bought 64 million shares or a 28. 6 percent stake of […]
Top Gear
Mar 04, 2011 (LBO) – A new expressway in southern Sri Lanka that will be partly open by the middle of this year will be confined only to fast-moving vehicles with slow-moving ones like auto-rickshaws and tractors banned, an official said. R W R Pemasiri, director-general of the Road Development Authority, said the 126-kilometre southern […]
Sri Lanka stocks 1.91-pct higher
Mar 04, 2011(LBO) – Sri Lankan stocks rose sharply Friday, recovering some of Thursday’s losses, helped by a large crossing of Lanka Hospital and institutional, high-net-worth and retail trading, brokers said. The All Share Price Index closed at 7,664. 72, up 1. 91 percent (143.98 points) while the Milanka Price Index of more liquid stocks […]
Sri Lanka to revamp tax concessions for investors: minister
Mar 03, 2011 (LBO) – Sri Lanka’s government is preparing new laws to speed up investment approvals with existing tax breaks by the investment promotion agency being abolished, a minister said. The war ended nearly two years ago enabling the government to end tax concessions that had caused heavy revenue losses. “We have brought a […]
” with current rates, despite inflation, forex pressure
Mar 03, 2011 (LBO) – Sri Lanka is comfortable with current interest rates, Central Bank governor Nivard Cabraal said despite a spike in consumer prices to a two year high and an outflow of foreign reserves. Sri Lanka has some of the highest policy rates in the world at 7. 00 percent to drain excess […]
Australia primed for Sri Lanka spin
March 3, 2011 (AFP) – Australian captain Ricky Ponting is confident his side can deal with Sri Lanka’s spin attack and their devastating pace spearhead Lasith Malinga when the sides meet on Saturday. The Group A match in Colombo will be a repeat of the controversial 2007 World Cup final when Australia won by 53 […]
‘s Right to Information Act
NEW DELHI, March 3, 2011 (AFP) – Soon after he exposed how bricks were bought for six times their value for roads that were never built in the northern Indian state of Uttar Pradesh, Amarnath Pandey was shot near his home. The bullet, which he believes was fired by contractors who were benefiting from the […]
Status Quo
Mar 03, 2011 (LBO) – Sri Lanka’s state investment promotion agency said its chairman will stay on and “appropriate notice” will be given when he leaves. The BOI is being restructured and there had been protests by staff. The Board of Investment said its chairman, Jayampathy Bandaranaike, had taken over the agency with “specific understanding […]
Growth Year
Mar 03, 2011 (LBO) – Sri Lanka’s state-run Bank of Ceylon group said profits for the December 2010 quarter grew 77. 5 percent to 2,107 million rupees and the full year net was up 102 percent to 3,299 million amid high loan growth and wider margins. The group also contained operating costs with non-interest expenses […]
Sri Lanka stocks tumble 2.34-pct
Mar 03, 2011(LBO) – Sri Lankan stocks fell sharply Thursday with losses seen across the board including in index heavy stocks in retail-driven trading, brokers said. In November 2010, the Securities Exchange Commission said it has extended a deadline to cut credit given by brokers to their clients by six months to June 2011, with […]
Sri Lanka coast guard beefs up surveillance with new boat
Mar 02, 2011 (LBO) – Sri Lanka’s fledgling coast guard took delivery of a patrol craft built by the navy that will help combat poaching and human smuggling and better protect economic resources, officials said. The 14.5-metre fibre-glass boat was built by the navy largely for shallow water patrolling, making use of facilities that built […]
‘s Malinga plays down historic hat-trick
March 2, 2011 (AFP) – History-making Lasith Malinga played down his landmark second World Cup hat-trick, insisting that his famous four wickets in four balls against South Africa in 2007 was a greater achievement. The 27-year-old seamer’s trademark collection of yorkers and toe-crushers helped him to a career-best 6-38 as Sri Lanka beat Kenya by […]