Author: lbostgadmin
Sri Lanka to sell land reclaimed from sea: port official
Feb 11, 2011 (LBO) – Sri Lanka Ports Authority plans to reclaim and sell to private investors 340 acres of land off the capital Colombo where a new port is being built next to the existing one, an official said. “It will be for residential purposes, and offices and shopping along with eco-parks,” Keppetipola said. […]
Sri Lanka to renegotiate trade deal with India
Feb 11, 2011 (LBO) – Sri Lanka is to start talks again on a proposed trade agreement with India that had been opposed by protectionist interests in the island, according a government decision announced after the weekly cabinet meeting. But it has been opposed by some Sri Lankan industrial and professional groups. The government is […]
Mobile Mark
Feb 11, 2011 (LBO) – Sri Lankan mobile phone operator Dialog Axiata group made a net profit of 1. 3 billion rupees in the December 2010 quarter compared with a loss of 2.2 billion the year before, a stock exchange filing said. Sales in the quarter rose 10.7 percent to 10.8 billion rupees. The firm’s […]
New Investment
Feb 11, 2011 (LBO) – Sri Lanka’s Dialog Axiata, the islands largest mobile operator said it will invest 150 million US dollars in expansion bringing the total foreign direct investments by the firm to 1. 2 billion US dollars. Dialog Axiata chief Hans Wijayasuriya said the new investments in part will to go strengthen its […]
Sri Lanka rubber producer warns boom unlikely to last
Feb 11, 2011 (LBO) – The boom in rubber prices, that helped prop up profits at Sri Lanka’s Kelani Valley Plantations, is unlikely to last, its chairman Mohan Pandithage has warned, according to a stock exchange filing. The company, the plantation subsidiary of Dipped Products, the rubber manufacturing arm of the Hayleys group, said December […]
Lucky Seaman
February 11, 2011 (AFP) – Sri Lanka’s navy Friday detained a foreign cargo ship and its Russian crew for allegedly failing to rescue a man who fell overboard, an official said. Navy spokesman Kosala Warnasuriya said the DD Vigor, registered in St Vincent and the Grenadines, was impounded while leaving the island after failing to […]
Sri Lanka shares close up 1.2-pct
Feb 11, 2011(LBO) – Sri Lankan stocks closed 1. 2 percent higher Friday with index heavy Dialog Axiata and Carson Cumberbatch stocks pushing the market up, brokers said. The All Share Price Index closed at 7,586.63, up 1.24 percent (93.01 points) while the Milanka Price Index of more liquid stocks closed at 7,259.81, up 0.41 […]
Bernanke under fire in Congress; blames China
WASHINGTON, February 10, 2011 (AFP) – Federal Reserve chairman Ben Bernanke fended off criticism that he is ignoring the risk of rising prices Wednesday, as he faced a hostile Republican-controlled panel in Congress. “We remain unwaveringly committed to price stability,” Bernanke told the House of Representatives budget committee, rejecting claims that rising prices for food […]
Muralitharan signs for Gloucester T20 bid
LONDON, February 9, 2011 (AFP) – Sri Lankan cricket legend Muttiah Muralitharan will play for Gloucestershire’s Twenty20 side after agreeing a two-year deal with the English county, it was announced Wednesday. “Whenever I have watched and observed Murali he has always had and shown an infectious love for the game of cricket. This is something […]
Sri Lanka World Cup warm-ups shifted
February 10, 2011 (AFP) – Heavy monsoon rains have forced the International Cricket Council to move World Cup warm-up matches from Sri Lanka’s Pallekele stadium, tournament organisers said Thursday. Sri Lanka has been hit by monsoon downpours since December hampering preparation of the pitches at the newly-built Pallekele venue in the island’s central district. Pallekele […]
Broader Cover
Feb 10, 2011 (LBO) – Sri Lanka’s unit of UAE-based Etisalat will add 170 new base stations to expand and strengthen its network in former war-torn areas in the North and East of the island by April, an official said. “We are already in the North and will be adding 170 new towers in the […]
Margin Gains
Feb 10, 2011 (LBO) – Sri Lanka’s Central Finance, a regulated finance firm said net profits for the December 2011 quarter rose 72 percent to 472 million rupees as margins widened amid falling rates. For the nine months to December Central Finance reported profits of 1.19 billion rupees, up 69 percent giving earnings per share […]