Author: lbostgadmin
Sri Lanka eco-friendly hotel in Sigiriya
July 29, 2014 (LBO) – A 650 million rupees eco-friendly hotel will be build in Sigiriya in central Sri Lanka by Union Resorts and Spa Ltd, the state investment promotion agency said. The hotel branded Water Gardens will have 30 luxury villas will us renewable resources and be eco-friendly, with a reduced ‘carbon footprint’ the […]
New Chair
July 29, 2014 (LBO) – Dharma Dheerasinghe, has been appointed Chairman of Commercial Bank of Ceylon, with the retirement of Dinesh Weerakkoddy. Preethi Jayawardene has been appointed Deputy Chairman. Dheerasinghe who was earlier Deputy Chairman was a Deputy Governor of Sri Lanka’s central bank. Jayawardene had been in the Board of Commercial Bank since December […]
Sri Lanka Chevron Lubricants net up 20-pct
July 28, 2014 (LBO) – Sri Lanka’s Chevron Lubricants said profits rose 20 percent to 675 million rupees in the June 2014 quarter from a year earlier helped by wider margins.The firm reported earnings of 5.63 rupees per share for the quarter.For the six months to June the company reported earnings of 11.99 rupees on […]
Cricket: South Africa lose opener on rain hit final day
COLOMBO, July 28, 2014 (AFP) – South Africa lost opener Dean Elgar before heavy rain stopped play on the fifth and final day of the series-deciding second Test against Sri Lanka on Monday. Elgar was dismissed by off-spinner Dilruwan Perera in the truncated start-stop first session that saw the visitors add 17 runs off seven […]
Sri Lanka gives sweeping tax breaks for project on acquired land
July 28, 2014 (LBO) – Sri Lanka has proposed sweeping tax breaks for a controversial project where lands of private citizens were taken over for a commercial development.The 429.5 million US dollar project in Colombo’s Slave Island area including 130 million US dollars of foreign investments will get a 10 year corporate income tax holiday […]
Expert City
July 28, 2014 (LBO) – Sri Lanka’s ‘Trace Expert City’, an information technology park in the capital Colombo, kicked off with the first tenant software firm beginning operations. The IT Park comes under an organization called TRACE (Technologically Reawakening Culture of Excellence) where Subasinghe is listed as Vice Chairman. Codegen, a travel solutions firm with […]
Economic Claim
SYDNEY, July 28, 2014 (AFP) – A group of 157 asylum-seekers held for weeks on the high seas on an Australian customs vessel were likely economic migrants from India, Immigration Minister Scott Morrison said Monday.“The indications are… that there are a very large number of people on this ship that had been resident in India […]
Sri Lanka shares close higher
July 28, 2014 (LBO) – Sri Lanka’s shares closed higher on Monday with oil palm firms gaining amid weak foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 0.63 points higher at 6,784.27, up 0.01 percent. The S&P SL20 closed 3.47 points lower at 3,761.43, down 0.09 percent. Turnover was 493.10 million […]
Lanka Rating agency in ties up with CRISIL India
July 28, 2014 (LBO) – Sri Lanka’s Lanka Rating Agency, formerly RAM Ratings Lanka.said it had entered struck deal get technical assistance and training from India’s CRISIL. The majority shareholder of CRISIL is Standard and Poor’s.Lanka Ratings Agency Chairman Preethi Jayawardena said CRISIL had provided technical assistance to other rating agencies including RAM in Malaysia […]
Sri Lanka media training for Tamil journalists scuttled
COLOMBO, July 26, 2014 (AFP) – Dozens of pro-government activists blocked ethnic Tamil journalists from holding a training program in Sri Lanka on Saturday, marking the latest harassment of the minority community, a media rights group said.FMM’s Jayasekera said he also received death threats over the telephone for holding a press conference to denounce the […]
Cricket: Sri Lanka 11-0 at stumps on day three
COLOMBO, July 26, 2014 (AFP) – Sri Lanka were 11-0 at stumps in their second innings on the third day of the second and final Test against South Africa in Colombo on Saturday.South Africa are 1-0 up in the two-Test series after winning the opener in Galle by 153 runs. Upul Tharanga was batting on […]
‘s far north sparks mystery
MOSCOW, July 26, 2014 (AFP) – A vast crater discovered in a remote region of Siberia known to locals as “the end of the world” is causing a sensation in Russia, with a group of scientists being sent to investigate. The giant hole in the remote energy-rich Yamalo-Nenetsky region first came to light in a […]