Author: lbostgadmin
No More
March 20, 2007 (LBO) –John Keells Holdings has sold its restaurant business in Sri Lanka to a regional franchise holder for an undisclosed sum, the company said Friday. JKH said Keells Restaurants (Private) Limited and Crescat Restaurants (Private) Limited which held the franchises for Pizza Hut and Delifrance in Sri Lanka were sold to Gamma […]
Supply Chain
March 30, 2007 (LBO) –Supermarket chain Marks & Spencer began shipping clothing made in their factories in the Indian sub-continent through the Global Parks logistics facility in Sri Lanka to its UK stores, Thursday. The multinational’s decision to use Sri Lanka as a supply chain hub demonstrates its confidence in the island despite the recent […]
Shortcut
March 30, 2007 (LBO) –The Japanese will give 30-year loan to Sri Lanka to build a link highway that will connect the Colombo-Matara to the Colombo-Katunayake expressway a government minister said. The Japanese Bank for International Cooperation will give 21.917 billion yen (19.7 billion rupees) loan to build a 4-lane stretch of the connecting highway, […]
Sri Lanka grows by a blistering 7.7 percent in 2006
March 29, 2007 (LBO) – Sri Lanka grew by a blistering 7.7 percent in 2006, which is the highest on record, the country’s statistics office said Thursday. The Department of Census and Statistics said agriculture grew by 6.1 percent, industry by 8.4 percent and services by 7.8 percent. “We are encouraged to see that all […]
India steps up security along southern coast after Tiger air raid
CHENNAI, India, March 29, 2007 (AFP) – India has boosted military security along its southern coast after Sri Lanka’s Tamil Tiger rebels staged their first air attack on a Colombo military base, officials said.The measures include increased navy patrols in the narrow strip of sea dividing India and Sri Lanka and the installation of radar […]
Security cameras may yet yield new clues to Woolmer murder: police
KINGSTON, March 28, 2007 (AFP) – Detectives probing the murder of Pakistan cricket coach Bob Woolmer said Wednesday that better-than-anticipated security video footage could provide vital clues in the hunt for his killer. A painstaking operation to transfer hours of footage from well-worn VHS tape into a digital format has been completed, and early results […]
‘s Malinga creates history downing four wickets in four balls
GEORGETOWN, Guyana, March 29, 2007 (AFP) – Sri Lanka fast bowler Lasith Malinga took four wickets in four balls in the World Cup Super Eight match against South Africa here on Wednesday to become the first man to achieve the feat in the history of international cricket. Malinga dismissed Shaun Pollock, Andrew Hall and then […]
Thank God I am Sri Lankan!
GEORGETOWN, Guyana, March 29, 2007 (AFP) – Sri Lanka wicket-keeper Kumara Sangakkara has told India they they can learn a lot about cricket, life and happiness from their island neighbours. Sri Lanka beat India on their way to the World Cup second round Super Eights. India, meanwhile, crashed out and went home to face the […]
Sri Lanka will bounce back, says Jayawardene
GEORGETOWN, Guyana, March 29, 2007 (AFP) – Sri Lanka captain Mahela Jayawardene says his team will bounce back from their dramatic one-wicket World Cup Super Eights defeat against South Africa at the Guyana National Stadium Wednesday.“Sri Lanka in these conditions are going to be a tough team to beat,” he said.Jayawardene said the fact that […]
Quick Turnaround
March 29 (LBO) – SriLankan airlines says its emergency procedures allowed it and Sri Lanka’s main international airport to swing back into action within hours of a temporary closure earlier this week. “I doubt that any other major airport in the world could have recovered as quickly as we did,” Peter Hill, CEO of SriLankan […]
Italian Flavour
March 29, 2007 (LBO) – Competition in Sri Lanka’s automobile market is increasing with the launch of a range of small Fiat cars well suited for local roads. The Italian manufacturer, famous for its Ferrari and Alfa Romeo brands, wants to capture a slice of the island’s small but growing auto market, dominated by Japanese […]
Sri Lankan money rates ease, stocks start slow
March 29, 2007 (LBO) – Sri Lankan money market rates eased further with more liquidity in the market and dealers saying they believe the rates should stabilize at lower levels and be less volatile.Thin trading was seen on the Colombo tock Exchange as it opened with brokers saying the market was likely to remain inactive […]