Author: lbostgadmin
Telco Software
Apr 20, 2010 (LBO) – Sri Lankan firms developeing mobile and telecom software have teamed up with other players in the the sector to set up a ‘centre of excellence’ to foster collaboration, an industry body said. “Our national strategy is to focus on several high potential niche areas to compete globally as a niche […]
Film Awards
Apr 20, 2010 (LBO) – Sri Lanka will host an annual Indian film awards in Colombo in June drawing Bollywood stars to the country and opening opportunities for films to be shot on location in the former war-torn island industry officials said. A business forum, fashion show, celebrity cricket match, world premiers of upcoming Indian […]
Sri Lanka shares edge higher amid profit-taking
Apr 20, 2010 (LBO) – Sri Lanka’s stock market edged higher but saw some profit-taking Tuesday after hitting new highs the day before and trading was lower with interest on hotels and banks, brokers said. There were a few private, off-the-floor deals in banking and hotel stocks which pushed up the day’s trading turnover. John […]
‘s ex-army chief back in court as MP-elect
April 19, 2010 (AFP) – Sri Lanka’s former army chief Sarath Fonseka appeared in the dock at a court martial on Monday for the first time since winning a parliamentary seat in elections earlier this month. Fonseka last year led the military to victory over the Tamil Tiger rebels but later fell out with President […]
India to probe IPL corruption claims
NEW DELHI, April 19, 2010 (AFP) – The Indian government promised on Monday an in-depth tax and financing probe into the country’s cash-rich premier cricket league, warning that “no wrongdoer will be spared”. The main opposition Bharatiya Janata Party has demanded an investigation into the IPL, accusing it of being “the Corruption Premier League.” The […]
Sri Lanka power sector seen enticing private investors
Apr 19, 2010 (LBO) – More private investment is likely to get attracted to Sri Lanka’s power sector given stable and growing demand and improve profitability especially among hydro-power producers, a ratings agency report said. However, investments will be restricted to small power plants of less than 25 megawatts capacity as a new electricity law […]
‘s profits and losses; a super profit making central bank is not good news
Apr 19, 2010 (LBO) – Two news items hit the headlines of media simultaneously last week. Both relate to the year 2009 and are sourced to the Central Bank Annual Report for the year. One is the news on the key state enterprises making colossal losses. The other is the news on Central Bank’s making […]
Airlines challenge restrictions as ash snags 6.8 million passengers
LONDON, April 18, 2010 (AFP) – Airlines urged a re-think of flight restrictions as a volcanic ash cloud made Europe a virtual no-fly zone for a fourth straight day Sunday with nearly seven million passengers affected. However, the European Union presidency offered a glimmer of hope for stranded passengers, saying half of the flights scheduled […]
‘s state-run budget carrier loses Rs930mn
Apr 19, 2010 (LBO) – Sri Lanka’s controversial state-run budget carrier Mihin Lanka lost 930 million rupees in 2009, despite support from the island’s national carrier SriLankan, which itself made 12. 2 billion rupees in operational losses, official data shows. After starting in 2007, Mihin Lanka burnt up its start-up capital given from people’s money […]
Emirates says losing US$10mn a day, 20-pct of fleet grounded
Apr 19, 2010 (LBO) – Dubai-based Emirates airlines said flight disruptions to Europe had cost it 50 million US dollars and it was losing revenues from 18,000 passengers a day following volcanic ash spewed out of Iceland. Affected passengers could cancel their bookings without charge. The airlines said updates are posted on Emirates.com and to […]
World Banks says East Asia could stabilise emissions by 2025
BEIJING, April 19, 2010 (AFP) – The World Bank said Monday that East Asia could stabilise its greenhouse gas emissions by 2025 while maintaining economic growth by investing in energy efficiency and low-carbon technologies. Achieving the target would require the region’s biggest energy guzzlers to invest an extra 80 billion dollars a year to make […]
Finance Shares
Apr 19, 2010 (LBO) – Sri Lanka’s Vallibel Finance, whose initial public offering (IPO) was over-subscribed, has given preference to small investors in allocating the shares, a stock exchange filing said. Investors who applied for up to 100 shares will be given all the shares they asked, the company said in a statement. Those who […]