Author: lbostgadmin
Indian designers go back to their roots as retro-chic rules
NEW DELHI, April 2, 2010 (AFP) – Raw silk, cotton, jute — India’s traditional fabrics are finding favour among top designers raring to break new ground in the highly competitive Indian fashion market. The tendency to ape Western cuts and style in recent years has seen the country’s own rich craftsmanship take a backseat. But […]
Sri Lanka Milk Foods starts new plant
Apr 02, 2010 (LBO) – Lanka Milk Foods (LMF), a milk powder packer which is part of Sri Lanka’s Distilleries group, said it has begun production at a new plant with a capacity of 9.5 million litres of cow milk. LMF acquired them in 2001 when it bought 90 percent of the shares of Ambewela […]
Sri Lanka govt rules out more protection, subsidies for business
Apr 02, 2010 (LBO) – The Sri Lankan government cannot give more protection and subsidies for local and export businesses who must instead be more productive and innovative, Treasury Secretary P B Jayasundera said. He told the National Chamber of Exporters the government has delivered peace by ending the Tamil Tiger war and begun building […]
Sri Lanka president visits Tamil heartland
JAFFNA, April 1, 2010 (AFP) – Sri Lanka’s President Mahinda Rajapakse reached out on Thursday to the country’s ethnic minority Tamils as he made his first visit to their cultural heartland since his re-election. Rajapakse, on a trip to battle-scarred Jaffna, the former stronghold of separatist Tamil rebels in the island’s north, promised to work […]
Software Raid
Apr 01, 2010 (LBO) – Sri Lanka’s police have raided a company suspected to be using pirated and unlicensed software, the Business Software Alliance (BSA) which represents software firms said. The company is suspected to be infringing the intellectual property rights of BSA members, Adobe, Autodesk and Microsoft, it said in a statement. The raids […]
South Health
Apr 01, 2010 (LBO) – Sri Lanka’s Asiri Hospital had bought a 40-bed hospital in the island’s southern Matara area for 160 million rupees, the firm said in a stock exchange filing. Matara Medi House (Pvt) Ltd is build on a 241 block of land in the Matara town. The firm said the purchase was […]
Sri Lanka tea estate in iced tea project with US firm
April 01, 2010 (LBO) – Sri Lanka’s listed Bogowantalawa Tea Estates said it was starting a two million dollar iced tea unit with a US firm in which the firm would take up a 25 percent stake. The joint venture will export packaged iced tea to the United States. The company said it was teaming […]
Wealth Product
Apr 01, 2010 (LBO) – Sri Lanka’s NDB Aviva Wealth Management, a unit of listed NDB Bank and UK based Aviva Insurance says it is planning to go retail riding on easy to understand products distributed through the group. The firm manages 29 billion rupees worth of assets belonging to 80 large portfolios including the […]
State Bank
Apr 01, 2010 (LBO) – Sri Lanka’s state-run People’s Bank group’s net profit rose 21. 8 percent to 4.1 billion rupees in 2009 from a year earlier, helped by stronger margins despite higher provisions, annual accounts showed. Group gross loans and advances rose to 334 billion rupees from 294 billion rupees a year earlier. Non […]
Trade Hub
April 01, 2010 (LBO) – Chinese port operator China Merchants Holdings (International) has said it expects a breakthrough in talks to build a new container terminal in Sri Lanka’s Colombo harbour this year. The company, in partnership with Sri Lankan conglomerate Aitken Spence, was the sole bidder for the first container terminal to be built […]
Sri Lankan stocks close 0.59-pct up, blue chips gain
Apr 01, 2010 (LBO) – Sri Lankan stocks closed up Thursday boosted by price gains on index heavy blue chips, while John Keells Holdings (JKH) reached a billion dollars in market capitalization, brokers said. At the end of trade Thursday, JKH had reached a market cap of 114.9 billion rupees, brokers said. Dealers said the […]
Sri Lankan Airlines lures ladies with feats of all-female flying crew
Mar 31, 2010 (LBO) – Sri Lankan Airlines said it wants to encourage more young women to become pilots with the national carrier, pointing to recent flights by an all-female flying crew. Sri Lankan Airlines’ lady pilots have “quietly revolutionized” aviation in Sri Lanka, with several international flights being carried out by all-female crews, the […]