Author: lbostgadmin
Logistics Hub
May 09, 2014 (LBO) – Japan based Sagawa logistics group has bought a 30 percent stake in Sri Lanka’s Expolanka Holdings Plc and official said with the firm expected to take its share up to 51 percent. SG Holdings bought 586 million shares at 10.70 rupees a share Friday. Grouo chief executive Hanif Yusoof said […]
Nestle Sri Lanka unit says coconut milk exports, profits up
May 08, 2014 (LBO) – Nestle Lanka Plc said profits rose 20 percent from a year earlier to 1.1 billion rupees in the March 2014 quarter with revenue gains helped by exports coconut milk powder.In the March quarter the firm had launched cold beverage vending machines that which dispense Nescafé ice coffee and Nestea ice […]
Sri Lanka exports to EU up 16.3-pct in first quarter 2014
May 08, 2014 (LBO) – Sri Lanka’s exports to the European Union have risen 16.3 percent from a year earlier to 896 million US dollars in the first quarter of 2014, the industry commerce ministry said. “This certainly demonstrates, our commitments in adding value not only to our business partners but also to the consumers […]
Sri Lanka Telecom seeks investors to develop property
May 8, 2014 (LBO) – Sri Lanka Telecom Plc, the island’s only wireline operator said, it was looking for local and foreign investors jointly develop its property holdings scattered across the country. It will also look at opportunities to lease or hire out existing facilities for workshops, recreational and other business activities. The company has […]
Near Relation
May 08, 2014 (LBO) – Adfactors PR, an India based public relations firm that has a strong focus in financial and corporate communications has set up an office in Sri Lanka. The Sri Lanka unit will be headed by Rezani Aziz, who was formerly Head of Corporate Affairs at Standard Chartered Bank and the Chief […]
Talawakelle Plantations, Sri Lanka March net down 60-pct
May 08, 2014 (LBO) – Profits at Sri Lanka’s Talawakelle Plantations Plc, fell 60 percent to 34 million rupees in the March 2014 quarter from a year earlier as margins on tea estates declined and hydro power revenues fell, interim accounts showed.The group reported earnings of 1.44 rupees per share for the quarter. Revenues rose […]
Repriced
May 08, 2014 (LBO) – Sri Lanka’s Nations Trust Bank said profits rose 10 percent in the March 2014 quarter from a year earlier to 549 million rupees despite providing for losses on gold backed loans. The group reported earnings of 2.38 rupees per share for the quarter in interim accounts filed with the Colombo […]
Logistics Hub
May 8, 2014 (LBO) – Expo Global Distribution Centre (EGDC) a logistic firm set up under Sri Lanka’s free port regulation aimed at boosting entrepot trade and multi-country consolidation has begun operations. “As a prominent player in Sri Lanka’s Freight and Logistics sector, we find the Government’s strategic approach to encouraging the sector heartening.” The […]
Sri Lanka shares close up 0.4-pct
May 08, 2014 (LBO) – Sri Lanka’s shares closed 0.37 percent higher for the second consecutive day with index heavy stocks gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 23.13 points higher at 6,275.73 up 0.37 percent. The S&P SL20 closed 12.81 points higher at 3,446.76, up 0.37 […]
Mendis shines as Sri Lanka prove too strong for Ireland
DUBLIN, May 6, 2014 (AFP) – Ajantha Mendis starred with both bat and ball as Sri Lanka enjoyed a comfortable start to their tour of the British Isles with a 79-run win over Ireland in the first one-day international in Dublin on Tuesday.The Sri Lankans have arrived in Dublin without five of their star players […]
Air France unveils luxury first-class seat
BEIJING, May 7, 2014 (AFP) – Air France unveiled its new first-class seat in Shanghai on Wednesday, fuelling an international luxury-armchair race to win over Asia’s rising number of high fliers. The airline’s “haute couture” suite will feature a seat that reclines into a bed stretching 2.01 metres long and 77 centimetres across (6 ft […]