Author: lbostgadmin
Sri Lanka president dissolves parliament
February 9, 2010 (AFP) – Sri Lanka’s president Mahinda Rajapakse on Tuesday sacked the national parliament, clearing the way for a national election two months ahead of schedule, his spokesman said. Rajapakse, who secured 58 percent of the popular vote at the presidential election, has said he hoped to improve his hold on a new […]
Sri Lanka Hemas Power Dec net up 71-pct
Feb 09, 2010 (LBO) – Sri Lanka’s Hemas Power said December quarter net profit rose 71 percent to 142 million rupees from a year ago as thermal power generation costs fell and hydro power hit peak output during the rainy period. Sales of the firm, which supplies power to state-run Ceylon Electricity Board and is […]
Cheap loans boost India car sales in January
NEW DELHI, February 9, 2010 (AFP) – India’s car sales rose more than 32 percent year on year in January as demand was boosted by cheap loans and an economic recovery, an industry group said Tuesday. Domestic passenger car sales rose to 145,905 units from 110,300 in the same month last year, according to the […]
Chipset
SAN FRANCISCO, February 9, 2010 (AFP) – US technology titans IBM and Intel on Monday rolled out powerful new computer chips designed for businesses continually demanding more from networks and data centers. Intel introduced an Itanium processor 9300 series developed under the code name “Tukwila” that it touts as delivering twice the performance of prior […]
Sri Lankan stocks close 0.11-pct down
Feb 09, 2010 (LBO) – A rally in Sri Lankan shares was interrupted Tuesday as retail investors took profits while price jumps in selected stocks prevented the bourse falling further, brokers said. Sunshine Holdings which has interests in plantations and healthcare sectors closed at 300.00 rupees, up 123.50, albeit on thin trading turnover. The Sri […]
Sri Lanka to dredge more sea sand
Feb 08, 2010 (LBO) – Sri Lanka will appoint a dredging contractor to bring up three million cubic metres of sea sand to supply the domestic market which is running out of river sand and also for export. Sri Lanka Land Reclamation and Development Company (SLLR & DC), a state agency, holds the sole rights […]
Sri Lanka Eagle renamed Aviva NDB Insurance
Jan 08, 2010 (LBO) – Sri Lanka’s Eagle Insurance, a unit of Aviva, said it plans to change its name to Aviva NDB Insurance to better face anticipated competition from rival global brands in future. The company said in a stock exchange filing its board has sought shareholder approval for the name change to reflect […]
Shipping Costs
Feb 08, 2010 (LBO) – Sri Lankan shippers said they anticipate further hikes in freight rates as cargo flows improve after the recession with loss-making shipping lines trying to regain profitability and fewer ships calling Colombo. In the short-term, the latest spike in rates and pressure on ship capacity might ease after next week’s Chinese […]
Sri Lanka stocks end up 2.23-pct
Feb 08, 2010 (LBO) – Sri Lankan shares ended higher Monday and turnover was pushed up by big transactions in blue chips with investor V Vijayaratnam raising his stake further in Asia Capital, brokers said. The day’s trading turnover was pushed up by large trades in Asia Capital and several blue chip stocks. Asia Capital […]
Britain to cut number of student visas issued
LONDON, February 7, 2010 (AFP) – Britain is to cut the number of visas it hands out to foreign students in a bid to stop people breaking the rules by working illegally, officials said Saturday. The change, which comes after Prime Minister Gordon Brown ordered a review of the system at the end of last […]
Sri Lanka to upgrade military capability with Russian credit: report
Feb 07, 2010 (LBO) – A 300 million US dollar credit line to be wrapped up during an official visit by Sri Lanka’s President Mahindra Rajapaksa to Russia, would modernise Sri Lanka’s military capability, a media report said. The Sunday Times newspaper said Moscow had offered to repair or replace all Russian origin military equipment […]
Northern Recovery
Feb 07, 2010 (LBO) – Sri Lanka’s information communications technology industry wants to promote ICT business and skills in northern Jaffna to generate employment in the former war zone, officials said. The Federation of IT Industry Sri Lanka (FITIS) said it will hold an exhibition later this month in the Jaffna peninsula to create awareness […]