Author: lbostgadmin
Bunker Share
Aug 20, 2009 (LBO) – The Sri Lanka unit of Indian Oil Corporation has about a third of the bunkering market barely 10 months after starting ship fuel sales at Colombo port, a top official said.“We started last November and we have about 35 percent market shares,” Lanka IOC managing director Suresh Kumar said. “Bunkering […]
US warns of conditions in Sri Lanka camps
WASHINGTON, August 19, 2009 (AFP) – The United States on Wednesday renewed its call for Sri Lanka to release more than 250,000 Tamil war refugees from their camps, warning of the potential for disease.Heavy rains this week flooded nearly 2,000 makeshift shelters in the camps, where people displaced by war have been detained since the […]
New Zealand save follow-on against Sri Lanka
GALLE, August 20, 2009 (AFP) – Resolute batting by New Zealand’s eighth-wicket pair of Jesse Ryder and Daniel Vettori denied Sri Lanka a follow-on in the first Test here on Thursday.The duo, who came together with the Black Caps still needing 30 runs to avoid the follow-on in the rain-hit Test, put on a defiant […]
Sri Lanka apparel firm to make fleece fabric
Aug 20, 2009 (LBO) – Textured Jersey Lanka (TJL), a joint venture between Pacific Textiles and Sri Lankan apparel export group Brandix, said it plans to produce fleece fabric for Victoria’s Secret Pink loungewear brand. The firm also has wide-ranging finishing capabilities such as encapsulation, moisture management, seeding and other customized finishes, the statement said. […]
Sri Lanka Janashakthi Insurance six-month net up 223-pct
Aug 20, 2009 (LBO) – Sri Lanka’s Janashakthi Insurance said net profit in the six-months to June 2009 rose 223 percent to 265.6 million rupees from a year ago mainly on better cost control, lower claims and higher investment income. Janashakthi Insurance paid out 1.14 billion rupees in claims to customers during the first half […]
Sri Lanka to step up mine clearing: army
August 20, 2009 (AFP) – Sri Lanka’s military is to send more troops to clear land mines in areas recently wrested from Tamil rebel control so that civilians can return to their homes, the top army officer said Thursday. Jayasuriya said his aim was to support a massive reconstruction effort in areas once held by […]
Indian drought threatens rice, sugar output
NEW DELHI, August 19, 2009 (AFP) – India said Wednesday it would step up its food distribution programme for the poor as a widening drought threatened to cut rice production by 10 percent and sharply reduce sugar supplies.Agriculture and Food Minister Sharad Pawar also said the government would consider releasing wheat and rice from its […]
VW targets sales of 100,000 cars in India by 2014
NEW DELHI, August 19, 2009 (AFP) – German automobile giant Volkswagen AG, seeking to tap into India’s fast-growing vehicle market, said Wednesday it hopes to sell 100,000 cars by 2014 in the country.Europe’s largest car manufacturer said it would accelerate its sales in India using the planned launch next year of its popular mass-market Polo […]
Nokia targets India with low-cost handsets: CEO
NEW DELHI, August 19, 2009 (AFP) – The head of Nokia, the world’s largest maker of mobile phones, said Wednesday that the Finnish company aims to expand in India by offering lower-cost handsets.“India is our second-largest market. We aim to remove the affordability barrier,” chief executive and president Olli-Pekka Kallsvuo told reporters, without specifying the […]
Sri Lanka plantations companies enticed by spice
Aug 20, 2009 (LBO) – Sri Lanka’s listed plantations companies are getting into spice cultivation, drawn by the opportunities offered by their vast land holdings and the reputation for the island’s crops, officials said. As many as 12 of the 18 plantation companies listed on the Colombo bourse have diversified and gone into the production […]
Reverse Gear
Aug 20, 2009 (LBO) – Sri Lanka’s United Motors Lanka (UMLL) made a 132 million-rupee loss in the June 2009 quarter as sales almost halved owing to weak orders from government ministries and the private sector. UMLL’s June quarter revenues plummeted 45.1 percent to almost 990 million rupees, while cost of sales dropped 50 percent […]
Sri Lankan shares close flat, blue chips gain
Aug 20, 2009 (LBO) – Sri Lankan stocks closed flat Thursday as retail investors eyed undervalued mid-cap stocks to profit from an anticipated month-end technical correction, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.06 percent (1.58 points) to end at 2,524.62, while the Milanka index of liquid stocks gained 0.12 […]