Author: lbostgadmin
Broad Speeds
July 09, 2010 (LBO) – Mobile broadband quality of the two largest players in Sri Lanka’s western province, where the capital Colombo is located, is satisfactory when compared to promised and international benchmarks, researchers have found. But Dialog, a unit of Axiata of Malaysia has wide mobile broadband coverage as well as Mobitel, a unit […]
Sri Lanka okays foreign investment for two resorts in Kalpitiya
July 09, 2010 (LBO) – Sri Lanka has approved two resorts by foreign investors in a new tourism development area in Kalpitiya on the north-west coast that opened up for investment with the end of a war, a tourism official said. Tourism is booming in the island after a 30-year ethnic war ended in May […]
Sri Lankan stocks close down 0.35-pct
July 09, 2010 (LBO) – Sri Lankan stocks closed down Friday as investors took profits from Thursday’s gains, while low value shares continued to dominate market volumes, brokers said. The All Share Price Index closed at 4,505.69, down 15.71 points, while the Milanka index of more liquid shares dipped 0. 38 percent (19.22 points) to […]
Sri Lanka UN representative recalled amid war crimes row
UNITED NATIONS, July 8, 2010 (AFP) – UN chief Ban Ki-moon recalled Thursday his main representative in Sri Lanka and closed down offices in Colombo that have been the scene of angry protests over a United Nations war crimes panel. “The secretary-general finds it unacceptable that the Sri Lankan authorities have failed to prevent the […]
Sri Lanka apparel industry downplays loss of EU trade deal
July 08, 2010 (LBO) – The end of a trade deal giving duty free market access to Europe will not be a ‘catastrophe’ though it would squeeze already thin profit margins, an industry official said. A Sukumaran, a clothing exporter who is chairman of the Joint Apparel Association Forum, an industry body, said they were […]
SriLankan Airlines launches Shanghai, China flights
July 08, 2010 (LBO) – Sri Lankan Airlines has launched its four-times a week service to Shanghai, China’s commercial capital, which the airline says is the third Chinese city in its route network. The first flight landed in Shanghai July 01. The route is operated on wide-body Airbus A330 and A340 aircraft via Bangkok on […]
Sri Lankan Airlines to set up flight simulator centre with Dutch firm
Computer Play July 08, 2010 (LBO) – SriLankan Airlines will set up a flight simulator centre with SIM Industries of the Netherlands targeting the growing South Asian regional market for pilot training, the airline said. “We have been looking at opportunities in South Asia for some time, and there is no doubt that Colombo is […]
Security Change
July 08, 2010 (LBO) – Sri Lanka is rapidly removing military checkpoints and transferring public security to the police to return the country to normalcy after the end of a 30-year war, defence secretary Gotabhaya Rajapaksa said. He said in the eastern province the change-over was being successfully carried out. “In Colombo we are gradually […]
Sri Lanka draws cruise ships after end of war
July 08, 2010 (LBO) – Sri Lanka is once again becoming an attractive destination for cruise ship operators with the end of a 30-year ethnic war, the head of one of the island’s biggest conglomerates said. “Galle will be a very attractive destination to break journey. They would like to have a 3-4 day stop […]
Capital Needs
July 8, 2010 (LBO) – Merchant Bank of Sri Lanka, a unit of state-run Bank of Ceylon, may need to inject new capital into a troubled savings bank and insurance firm it bought during an economic downturn, a rating agency said. RAM ratings confirmed Merchant Bank of Sri Lanka’s (MBSL) ‘AA-‘ domestic long term rating […]
Nearly Docked
July 8, 2010 (LBO) – A deal to build a container terminal in an expanded Colombo port will be awarded to a China – Sri Lanka consortium within ‘two to three weeks’ Treasury Secretary P B Jayasundera said. Sri Lanka’s listed Aitken Spence and China Merchant Holdings, a state-run port operator, were the only bidder […]
Sri Lanka shares recover
July 08, 2010 (LBO) – Sri Lankan stocks closed higher Thursday, recovering after five consecutive trading days of losses with a private deal in shares of a commercial bank dominating the day’s turnover, brokers said. The All Share Price Index closed at 4,521.40, up 1.13 percent (50.62 points) while the more liquid Milanka index rose […]