Author: lbostgadmin
Box Move
Dec 11, 2009 (LBO) – Sri Lanka’s Colombo port stands to gain more container transhipment business with Maersk, the world biggest container shipping line by volume, deciding to stop direct calls at Chennai, officials said.Maersk Lines’ parent A P Moller-Maersk has reported a loss of 778 million dollars for the first nine months of the […]
Sri Lankan shares dip 0.11-pct on retail profit taking
Dec 11, 2009 (LBO) – Sri Lankan stocks closed down Friday as retail investors took profits from gains made during the week, while volumes dropped owing to lack of foreign participation, brokers said. The All Share Price Index closed at 3,056.64 down 0.11 percent (3.37 points) while the Milanka Price Index of more liquid stocks […]
Lack of evidence based policy making can be disastrous: Sri Lanka policy forum
Dec 10, 2009 (LBO) – Ad hoc public policy formulation can be disastrous and both China and India are evolving evidence based processes to back effective government action, academics and researchers said at a policy forum in Colombo.“The strategic direction is set by the Party and State Council and the People’s Congress makes legislation,” Xue […]
Sangakkara powers Sri Lanka to win
NAGPUR, December 9, 2009 (AFP) – Kumar Sangakkara smashed a career-best 78 off just 37 balls to set up Sri Lanka’s 29-run win in the first Twenty20 international against India here on Wednesday. India paid the price for some sloppy fielding with Yuvraj Singh dropping a sitter at point when Jayasuriya (26) was on two, […]
Sri Lanka alcohol producer to enter insurance business
Dec 10, 2009 (LBO) – Distilleries Company of Sri Lanka said it is seeking regulator clearance to launch an insurance company with a startup capital of 500 million rupees after losing control of a former state-owned insurance company. Distilleries shares opened Thursday trading at 96.00 rupees, after closing the previous day down 75 cents. Distilleries […]
Sri Lanka Distilleries in bid re-enter insurance
Dec 10, 2009 (LBO) – Sri Lanka’s Distilleries group said it had applied to the regulator for a license to start an insurance company, after it lost the country’s largest insurer by assets on a court reversal of a privatization deal. The group controlled Sri Lanka Insurance Corporation until last year, when Sri Lanka’s Supreme […]
‘s Supreme Court suggests legal prostitution: report
NEW DELHI, December 10, 2009 (AFP) – India’s Supreme Court suggested legalising prostitution as a solution to the rampant sex trade that has flourished despite a raft of laws, a report said Thursday.“When you say it is the world’s oldest profession and when you are not able to curb it by laws, why don’t you […]
Expansion
Dec 10, 2009 (LBO) – Mphasis, an Indian outsourcing firm, is opening a centre in Colombo which will offer legal, finance and accounting services starting with 600 people in the first stage, as a downturn is ending, officials said.“We have a fairly well established global footprint and with the Colombo office we are expanding it […]
Progress Call
December 9, 2009 (AFP) – The United States said Wednesday it was willing to extend more aid to Sri Lanka provided there was progress in political reconciliation and human rights.He commended the government’s efforts to allow war-displaced civilians to leave state-run welfare camps in the north at their own free will and said Sri Lanka […]
Retail Chain
Dec 10, 2009 (LBO) – Cargills (Ceylon) group, which runs Sri Lanka’s largest retail chain, said it plans to open 100 more supermarkets in all the island’s 25 districts in the next few years.The company said last month that net profits in the September 2009 quarter rose 35 percent to 139 million rupees from a […]
Sri Lankan stocks 0.24-pct up
Dec 10, 2009 (LBO) – Sri Lankan shares closed up Thursday while high volume trading on Commercial Bank of Ceylon shares boosted turnover levels, brokers said.Sri Lanka’s largest celco Dialog Telekom, a unit of Telekom Malaysia closed flat at 7.00 rupee, and the largest fixed line operator Sri Lanka Telecom closed at 43.50 rupees, up […]
Sri Lanka ex-general fears Tiger attack on presidential bid – Interview
December 8, 2009 (AFP) – Sri Lanka’s former military chief who led troops to victory over Tamil separatists in May said he fears fugitive rebels will try to assassinate him during his presidential election campaign.Sarath Fonseka, who is trying to unseat President Mahinda Rajapakse in the January 26 elections, told AFP that about 1,000 Tamil […]