Author: lbostgadmin
One dead in bomb blasts at Indian train station: official
CHENNAI, May 1, 2014 (AFP) – Twin bombs planted on a train killed at least one person and wounded nine others in the main southern Indian city of Chennai on Thursday, a railway official said.“At least two people have suffered grievous injuries and seven have minor injuries,” he told reporters in comments aired on Indian […]
Outsourcing Facility
May 01, 2014 (LBO) – Aegis Limited, an outsourcing company, has commissioned a 650-seat facility in Sri Lanka’s capital Colombo that will create 1,000 jobs over the next 12 months, officials said. “There is fantastically educated population in Sri Lanka and the country’s economy is growing rapidly with development in major sectors,” Sandip Sen, Global […]
Arrested
May 01, 2014 (LBO) – A Sri Lankan national has been arrested in India over alleged links to Pakistani intelligence, the Times of India newspaper said. The newspaper said Sakir Hussein, 37, was in Puzhal prison after being remanded by a court in Tamil Nadu Tuesday. He had flown in from Sri Lanka on a […]
Amaya Leisure buys Sri Lanka East Coast hotel
May 01, 2014 (LBO) – Amaya Leisure Plc, a unit of Sri Lanka’s Hayleys group said it bought 51 percent of Sun Tan Beach Resorts (Pvt) Ltd, which owns a hotel in Sri Lanka’s East Coast for 563 million rupees.But travelling to the East is time consuming and more expensive. “This is a 125 room […]
Rate Gap
May 01, 2014 (LBO) – Profits at Sri Lanka’s Seylan Bank group rose 3.3 percent to 526 million rupees in the March 2014 quarter from a year earlier, helped by lower interest expenses, despite falling credit growth, interim accounts showed. The group reported earnings of 1.53 rupees per share. The stock closed at 64.00 rupees, […]
Broad Plans
May 01, 2014 (LBO) – All banks and non bank lenders in Sri Lanka directed by the regulator have given broad plans on a consolidation and some are in talks on acquisitions or mergers, the Central Bank said.Several non bank lenders within business groups have been given the nod to merge. Banks and large non-bank […]
‘s inflation accelerates to 4.9-pct in April
Apr 30, 3014 (LBO) – Sri Lanka’s consumer prices rose 4.9 percent in the 12-months to April 2014, accelerating from 4.2 percent in March, data from the state statistics office showed.Sri Lanka’s inflation was relatively low during the past year with credit growth being weak. Prices rose 0.3 percent during April, with the increase coming […]
SriLankan joins Oneworld; first South Asian carrier in global air alliance
Apr 30, 2014 (LBO) – State-run SriLankan Airlines has joined OneWorld, becoming the first South Asian carrier to be part of a global alliance, officials said.Oneworld airlines carry more than 500 million passengers a year on 3,300 aircraft with annual revenues of 140 billion US dollars. SriLankan was officially inducted to oenworld at a ceremony […]
Lighthouse Hotel Sri Lanka profits up 46-pct in March 2014 quarter
Apr 30, 2014 (LBO) – Sri Lanka’s The Lighthouse Hotel Plc, said profits in the March 2014 quarter surged 46 percent to 83 million rupees from a year earlier, with revenues also up. Administrative expenses were up 24 percent to 111.8 million rupees. Lighthouse Hotel is part of Sri Lanka’s Jetwing group. The firm reported […]
Sri Lanka shares close up 0.6-pct
Apr 30, 2014 (LBO) – Sri Lanka’s shares end 0.60 percent higher Wednesday with tobacco and beverages stocks gaining amid strong foreign participation, brokers said. Foreign investors bought 323.09 million rupees worth shares while selling 378.09 million rupees worth shares. Ceylon Tobacco Company closed 33.90 rupees higher at 1,099.20 rupees and Lion Brewery Ceylon closed […]
‘s Ho Chi Minh
Apr 29, 2014 (LBO) – Sri Lanka issued a stamp commemorating Ho Chi Minh, a revolutionary communist leader that led the country to independence from the French who is reputed to have visited the island several times. He had also travelled to Britain the US in the early 1900s and lived and worked in those […]
‘s Sangakkara signs for Durham
LONDON, April 28, 2014 (AFP) – Kumar Sangakkara will warm-up for Sri Lanka’s forthcoming tour of England by appearing in the next two rounds of County Championship matches for title-holders Durham. One of the outstanding batsmen of his generation and ninth on the list of all-time leading Test run-scorers with 11,151 at an average of […]