Author: lbostgadmin
Sri Lanka Keells Hotels losses mount, investments up
Aug 09, 2010 (LBO) – Losses at Sri Lanka’s John Keells Hotels rose in the June 2010 quarter from a year ago but it increased investments in new hotels and upgrading existing ones, a stock exchange filing said. The unit of the John Keells Holdings conglomerate said the net loss for the quarter widened 12 […]
Sri Lankan stocks close down 3.99-pct
Aug 09, 2010 (LBO) – Sri Lankan stocks continued to slide and fell below the 5,000 points mark Monday, on panic selling by retail investors unable to meet margin-calls, while heavy interest on Commercial Bank boosted turnover past a billion rupees, brokers said. Most high value blue chip stocks held their value despite the market […]
All white on the night for Australian elections
SYDNEY, August 8, 2010 (AFP) – Despite its Aboriginal roots and a large Asian population, Australia’s politics are almost exclusively white with just a handful of ethnic minority candidates in this month’s elections. Australia’s diversity — from Outback townships to Sydney’s Chinatown and growing numbers of South and Southeast Asians — is poorly reflected in […]
Message Monitor
JEDDAH, August 7, 2010 (AFP) – BlackBerry has “virtually” sealed a deal with Saudi Arabia on its encrypted messenger services to avert a ban on the smartphone, a Saudi telecoms company official told AFP on Saturday. “A deal has been virtually reached and we are in the process of adding the final touches,” said the […]
Early Burnout
MANILA, August 8, 2010 (AFP) – Daybreak is happy hour in a world turned upside down at a trendy bar in the Philippines’ financial district, the clientele young and loud and with a vague California accent. Vodka cruisers and beer fly by the bucketful as good friends Cici, Pau and Jels go off duty along […]
Creative Assets
Aug 08, 2010 (LBO) – Managements of Sri Lankan companies could be held liable for any violations of intellectual property in their organisations even if they were unaware of it, an official said. Dr D M Karunaratne, director general, of the National IP Office said anyone who violates IP rights is liable to be punished […]
Hobbling Laxman hits ton to secure India Test win
August 7, 2010 (AFP) – Venkatsai Laxman overcame back spasms to hit an unbeaten 103 as India defeated Sri Lanka by five wickets in the final Test on Saturday to draw the three-match series 1-1. Sachin Tendulkar chipped in with 54 and Suresh Raina made 41 not out to help India surpass a challenging target […]
Sri Lanka Sunshine estates to yield tourism, hydro power revenue
Aug 07, 2010 (LBO) – Sri Lanka’s Sunshine Holdings said it has struck a deal to supply hydro power and is refurbishing company estate bungalows to accommodate tourists. The group’s net profit for the June 2010 quarter rose 51 percent to 116 million rupees from a year ago with sales up 24 percent to 2. […]
India lends Bangladesh one billion dollars as ties warm
DHAKA, August 7, 2010 (AFP) – India gave Bangladesh a billion-dollar soft loan Saturday, the biggest credit package New Delhi has ever earmarked for any nation, highlighting warming ties between the neighbours, officials said. Ties were chilly between the South Asian neighbours from 2001 to 2006 when Bangladesh was ruled by an Islamist-allied government and […]
”s Ssangyong
NEW DELHI, August 7, 2010 (AFP) – India’s leading sport utility vehicle maker Mahindra and Mahindra announced Saturday plans to bid for a majority stake in cash-strapped South Korea’s Ssangyong Motor Co as the firm seeks to go global. Mahindra’s board of directors approved the bid at a board meeting Saturday after the company carried […]
Risky Returns
Aug 06, 2010 (LBO) – Police have arrested a Sri Lankan businessman who had disappeared after duping thousands of people into depositing money with his firm by promising high returns, an official said. Sakvithi Ranasinghe was arrested by police on Friday morning and is now being detained at the suburban Mirihana police station, police spokesman […]
Capital Injection
Aug 06, 2010 (LBO) – Sri Lanka’s Nawaloka Hospitals group June 2010 quarter profits rose 1,350 percent to 902 million rupees on a one-off extraordinary gain from the sale of a stake in a hotel, a stock exchange filing said. At the end of June quarter, the hospital group’s gross assets rose six percent to […]