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Sri Lanka Port Authority calls for private investments to build port city
(07, Aug, 2014 LBR) – – Sri Lanka’s port city to be built on reclaimed sea will be financed with private capital and investors would be free to come up with proposals on how to use the land, an official said.The port city will have shopping areas, water sports area, mini golf course, hotels, apartments, […]
Cricket: Pakistan 347-5 in first Test vs Sri Lanka
GALLE, August 7, 2014 (AFP) – Younis Khan was unbeaten on 171 as Pakistan moved to 347-5 in their first innings by lunch on the second day of the first Test against Sri Lanka in Galle on Thursday.Resuming at the overnight total of 261-4, Khan and Asad Shafiq took their fifth-wicket stand to 137 before […]
Sri Lanka stocks close up 0.3-pct
Aug 06, 2014 (LBO) – Sri Lanka’s stocks closed 0.26 percent higher with index heavy stocks gaining despite net foreign buying, brokers said. Distilleries closed 2.30 rupees higher at 204.00 rupees and Ceylon Tobacco Company closed 6.60 rupees lower at 1,130.60 rupees. The Colombo benchmark All Share Price Index closed 17.84 points higher at 6,833.26, […]
Pakistan bat against Sri Lanka in first Test
GALLE, August 6, 2014 (AFP) – Pakistan captain Misbah-ul Haq won the toss and elected to bat in the first Test against Sri Lanka in Galle on Wednesday.The start was delayed by 30 minutes due to a wet outfield caused by overnight rain.Bad weather has been forecast on all five days of the Test. Both […]
Sri Lanka stocks close down 0.1-pct
Aug 05, 2014 (LBO) – Sri Lanka’s stocks closed 0.10 percent lower with Ceylon Tobacco Company losing ground despite net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 6.73 points lower at 6,815.42, down 0.10 percent. The S&P SL20 closed 17.30 points lower at 3,743.03, down 0.46 percent. Turnover was 1.57 […]
Sri Lanka tourist arrivals up 25 pct in July, 2014
August 05, 2014 (LBO) Sri Lanka’s tourist arrivals rose 25.2 percent to 133,971 in June 2014 from a year earlier, by driven by China and India, data from the state tourism promotion office showed. Western European visitors are strong in the northern hemisphere winter season and when Sri Lanka’s Western coast is sunny and calm […]
Compassion Measure
Aug 05, 2014 (LBO) – A regional consultant who works with mainly multinational businesses in South Asia and the Middle East says he wants to measure compassion in Sri Lanka business, after initiating the process in Pakistan.“I want to go deep and see how Sri Lankan organizations are different from Pakistan, even if they are […]
India lashes WTO, defends decision on failed trade deal
NEW DELHI, August 5, 2014 (AFP) – India on Tuesday defended its decision to scuttle a landmark worldwide trade deal, saying it needed to take a tough stand at the WTO to ensure the survival of its impoverished farmers.Trade Minister Nirmala Sitharaman also lashed out at the World Trade Organization, accusing it of foot-dragging on […]
US demands Sri Lanka enforce its laws in latest rebuke
COLOMBO, August 5, 2014 (AFP) – The United States on Tuesday demanded Sri Lanka enforce its own laws after a meeting of US diplomats and war widows was disrupted by pro-government activists, in the latest rebuke by Washington.The US embassy said activists led by Buddhist monks stormed the meeting in Colombo on Monday and “behaved […]
Sri Lanka stocks close up 0.2-pct
Aug 04, 2014 (LBO) – Sri Lanka’s stocks closed 0.18 percent higher with Ceylon Tobacco Company gaining amid strong domestic participation, brokers said. JKH’s W0022 warrants closed 10 cents higher at 64.20 rupees and its W0023 warrants closed 50 cents lower at 71.00 rupees. Dialog Axiata closed 10 cents higher at 10.90 rupees and Sri […]
On Track
Aug 04, 2014 (LBO) – Sri Lanka’s regulator driven consolidation is on track with 12 banks and 57 non-bank lenders submitting plans for mergers and recapitalization, the Central Bank said. Another 19 non-bank lenders have completed internal processes to allow them to submit the plans, the regulator said. Already 19 proposals have been approved. Consultants […]
Economic Migrants
SYDNEY, August 4, 2014 (AFP) – Asylum-seekers held on an Australian customs vessel at sea for weeks were given lifeboats and told to make their own way back to India, a lawyer for the group said Monday.The boatload of 157, who lawyer Hugh de Kretser said were mostly Christian Tamils fleeing persecution in Sri Lanka, […]