Author: lbostgadmin
‘s immigration open, but not for one French family
MONTREAL, June 8, 2010 (AFP) – Looking to swell its population with an influx of up to 250,000 immigrants annually, Canada is arguably among the world’s most welcoming nations, but its doors are not open to all. A French couple, Sophie and David Barlagne, recently experienced bitter rejection by a still selective immigration policy. They […]
Mumbai plans 117-storey apartment block
MUMBAI, June 8, 2010 (AFP) – An Indian property group was due Tuesday to unveil plans to build one of the world’s tallest residential towers in Mumbai, the booming financial capital of the fast developing country. Lodha Developers intends the tower to be 117 storeys high, and it will be designed by New York-based architects […]
Northern Reach
June 08, 2010 (LBO) – Sri Lanka’s Nations Trust Bank has opened a branch in the former war zone of northern Jaffna whose economy is reviving with the end of the conflict. The bank said in a statement the branch, its 40th in the island, will provide residents in the north extended banking hours 365 […]
Box Trends
June 08, 2010 (LBO) – Cargo volumes at a Colombo port private terminal run by an associate firm of John Keells Holdings surged 22. 3 percent in May to 175,514 twenty-foot equivalent container units (TEUs) from a year ago, latest data shows. SAGT is part of the transport business of the JKH conglomerate which has […]
Maritime Links
June 08, 2010 (LBO) – Three shipping lines have launched a new container shipping service through Sri Lanka’s Colombo port to carry cargo to east Africa from the Indian sub-continent and the Far East, a statement said. The SLPA said the vessel is expected to do over 1,000 moves per call at the JCT, Colombo’s […]
Sri Lankan stocks becalmed
June 08, 2010 (LBO) – Sri Lankan stocks closed almost flat Tuesday as investors took profits from selected shares seen as over-priced and re-invested in those with potential for short-term gains, while foreign investors were net sellers, brokers said. The All Share Price Index closed at 4,427.27, down 4.05 points, while the Milanka index of […]
ICC says Sri Lanka World Cup venues on track
June 7, 2010 (AFP) – Sri Lanka’s new venues for next year’s World Cup are on track but the refurbishment of an existing stadium is behind schedule, the International Cricket Council said on Monday. Sri Lanka, which is co-hosting the tournament with India and Bangladesh, is set to stage 12 matches at the Premadasa stadium […]
Sri Lanka Hemas power to sell preference shares to cut interest bill
June 07, 2010 (LBO) – Sri Lanka’s Hemas Power, a unit of listed Hemas Holdings said it would raise 135 million rupees by selling 11. 5 percent, 5-year preference shares to settle higher cost floating rate debt at a hydro power unit. The firm said the money would be used to settle higher costs loans […]
SriLankan exit this week: Emirates boss
June 07, 2010 (LBO) – Emirates could sign the deal to sell 43. 6 percent of SriLankan, Sri Lanka’s national carrier this week, its president Tim Clarke was quoted as saying in a media report. “I was in Colombo last week to discuss the sale,” Clarke was quoted as saying by Emirates Business, a Dubai […]
Sri Lanka says could hang former army chief
June 7, 2010 (AFP) – Sri Lanka’s top defence official has threatened to hang the country’s former army chief if he cooperates with any investigation into war crimes during the civil war that ended one year ago. Rajapakse repeated a promise by the president that the authorities would not allow any international investigation into the […]
Stylish Stock
June 07, 2010 (LBO) – Sri Lankan retailer Odel plans to raise 250. 5 million rupees through an initial public offer, according to a Colombo Stock Exchange statement. The company, a clothing and fashion products retailer, will issue 16.7 million ordinary voting shares at 15 rupees a share with subscriptions opening on July 5, the […]
Sri Lanka tourist arrivals up 42-pct in May.
June 07, 2010 (LBO) – Tourist arrivals to Sri Lanka rose 42.3 percent to 35,213 in May 2010 from a year earlier with strong growth in South Asian and Western European markets, data from the island’s tourism office showed. Sri Lanka has seen a revival in tourism after a 30-year war ended on May 18, […]