Author: lbostgadmin
Software Piracy
Oct 15, 2010 (LBO) – Sri Lanka still has work to do to better protect intellectual property rights whose violations are of concern to the United States, a visiting US government official said. Michael Delaney, assistant US trade representative for central and south Asia, said IP rights protection and software piracy were some of the […]
Boycott
NEW YORK, October 14, 2010 (AFP) – International human rights groups declined Thursday to appear before a Sri Lankan probe into the end of the country’s civil war, saying the procedure was flawed and lacked credibility. New York-based Human Rights Watch (HRW), London-based Amnesty International and Brussels-based International Crisis Group (ICG) snubbed an invitation to […]
Sri Lanka plantations look to extend productivity link
Oct 15, 2010 (LBO) – Sri Lanka’s plantations industry is looking to extend a productivity linked pay scheme when talks on renewing a wage deal with labour unions begin early next year, an official said. Lalith Obeysekere, chairman of the Planters’ Association, which represents regional plantations corporations, said the industry is satisfied with gains from […]
Sea Links
Oct 15, 2010 (LBO) – India and Sri Lanka have agreed on and initialled a draft agreement to resume ferry services between the two neighbours that was disrupted by the island’s ethnic war, a statement said. “The two sides agreed on the text of the Memorandum of Understanding for passenger transportation by sea between the […]
Sri Lanka stocks becalmed
Oct 15, 2010 (LBO) – Sri Lankan stocks closed flat Friday, as price gains on selected high value and midcap shares offset selling by retail investors taking defensive positions, while index heavy John Keells Holdings continued to slide, brokers said. The Colombo All Share Index closed up 0. 07 percent (4.78 points) to 6,626.86 points, […]
Tele Towers
Oct 14, 2010 (LBO) – A US based telecom tower company is looking for opportunities to build shared infrastructure in Sri Lanka as telcos in the island expand into former war torn areas in the north and east, an official said. “We are having discussions and looking at opportunities,” Vijendran Watson, from the Singapore-based Insight […]
Health Sourcing
Oct 14, 2010 (LBO) – Cambio Heathcare Systems, a Sweden based health sector firm has moved its outsourcing unit to larger premises in Sri Lanka’s capital Colombo, the country’s investment promotion agency said. The firm had started operations in Colombo in 2005 with 40 employees. By the beginning of this year its cadre of engineers […]
Finance Losses
Oct 14, 2010 (LBO) – Sri Lanka’s The Finance Company, which is converting some deposits into shares, has managed to reduce losses compared to last year but interest costs are still higher than income, a stock exchange filing showed. The firm, part of the troubled Ceylinco group although now under separate management, made a loss […]
Financial Access
Oct 14, 2010 (LBO) – Sri Lanka’s poor are reliable borrowers and repay loans, offering a growth opportunity for micro-finance especially in rural areas, deputy finance minister Sarath Amunugama said. Developing countries like Sri Lanka must not rely solely on export-led growth as in the past given sluggish recovery and rising protectionism in advanced economies, […]
Port Prospects
Oct 14, 2010 (LBO) – The increase in cargo flows from India generated by accelerating economic growth will ensure business for a new container terminal that Sri Lanka’s Aitken Spence is investing in, an official said. “India’s economic growth in 2018 is expected to surpass China’s,” Dissanayake said. “When the economy grows they will handle […]
Sri Lankan stocks close down 0.10-pct
Oct 14, 2010 (LBO) – Sri Lankan stocks slid further Thursday, after Wednesday’s early morning fall and late afternoon rally, with falls in index heavy stocks like John Keells Holdings (JKH), Hatton National Bank (HNB) and Aitken Spence, brokers said. The Colombo All Share Index was down 0.10 percent (6.75 points) to 6,622.08 points, while […]
Singapore pushes currency up to counter dollar inflation
SINGAPORE, October 14, 2010 (AFP) – Singapore on Thursday announced a surprise move to tighten monetary policy, pushing the local dollar to new highs as the economy headed for 13 to 15 percent expansion this year. The Monetary Authority of Singapore (MAS) signalled its anti-inflation stance after government data showed the economy expanded an annual […]