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‘s MAS Active gets IFC trade finance
Nov 06, 2013 (LBO) – International Finance Corporation, a World Bank arm said it had given a supplier finance credit line to MAS Active, a top Sri Lanka based apparel exporter. MAS will get credit against receivable due from selected international buyers, IFC said. “In the fast-changing globally competitive apparel industry, suppliers like MAS need […]
‘s Hayleys MGT Knitting Mills turns around
Nov 06, 2013 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, a knit fabric maker said it had turned around with a profit of 164,000 dollars in the September 2013 following a management shake-up and new business. The firm reported profits 0.1 cents (US dollars) per share for the quarter. In the six months […]
‘s LB Finance to sell Rs2.0bn in debt
Nov 05, 2013 (LBO) – Sri Lanka’s LB Finance Plc, is planning to sell 2.0 billion rupees of listed debt, the Colombo Stock Exchange said.The CSE said it had approved an application by LF Finance to offer 10 million debentures of 100 rupees each and a further 10 million if the first tranche is oversubscribed. […]
”s RIU
Nov 05, 2013 (LBO) – Sri Lanka’s Aitken Spence group said it is building a 100 million US dollar 500-roomed luxury hotel with RIU Hotels, a Spanish chain as a partner. Aitken Spence deputy chairman Rajan Brito said the hotel will be completed when an expressway in the south of the island is extended to […]
‘s The Kingsbury out of red
Nov 05, 2013 (LBO) – Sri Lanka’s The Kingsbury Plc, a city 5-star hotel said it made profits of 26 million rupees in the September 2013 quarter, re-starting operations after going through a make-over. In the first week of September The Kingsbury raised 660 million rupees from shareholders in September. The firm reported earnings of […]
Fears
COLOMBO, November 4, 2013 (AFP) – A media rights group Monday expressed fears for the safety of journalists in Sri Lanka after Colombo grilled two Australian activists and seized computer data before kicking them out.The Free Media Movement (FMM) said it expected a crackdown by the authorities following last week’s questioning of the two International […]
India mission to Mars blasts off successfully
NEW DELHI, November 5, 2013 (AFP) – India’s first mission to Mars blasted off on Tuesday as the country aims to become the only Asian nation to reach the Red Planet with a programme showcasing its low-cost space technology.A study of data from Curiosity published in September found the rover had detected only trace elements […]
‘s HNB Assurance net down 9-pct in September
Nov 05, 2013 (LBO) – Profits at Sri Lanka’s HNB Assurance dropped 9 percent to 50.4 amid higher claims, despite seeing strong revenue growth, interim accounts showed. The firm reported earnings of 1.00 rupee per share for the quarter.In the nine months to September the firm reported earnings of 3.10 rupees, on total profits of […]
Sri Lanka fruit and vegetable exports led by banana and cassava
Nov 05, 2013 (LBO) – Sri Lanka’s fruit and vegetable exports have been led by banana and cassava in recent years, which are grown commercially in large extents of land, which is vital to grow the industry, an official said.But analyst warn that such coercive measures will give rulers more legitimacy to undermine citizen’s liberties […]
Pressure mounts on Indian PM to boycott Commonwealth meet
NEW DELHI, November 4, 2013 (AFP) – A senior Indian minister Monday urged Prime Minister Manmohan Singh to boycott a Commonwealth summit in Sri Lanka over human rights abuses, joining opposition in government ranks to the trip.Environment Minister Jayanthi Natarajan said she wanted Singh to consider the “strong sentiments” of ethnic Tamils and stay away […]
Sri Lanka stocks closed down 0.4-pct
Nov 04, 2013 (LBO) – Sri Lanka stocks closed 0.45 percent lower dragged down by falling leasing and property stocks amid a broad sell-off, brokers said. The Colombo benchmark All Share Price Index closed 26.95 points lower at 5,927.41, down 0.45 percent, after reaching an intra-day high of 5,954.70. The S&P SL20 closed 6.02 points […]
Vehicle Trend
Nov 04, 2013 (LBO) – Sri Lanka’s new vehicles registrations slowed across the board in September 2013 from a month earlier, though two wheelers showed growth, an analysis by an equities research house showed.New motor car sales which have been climbing for four straight months from 1,887 in June to 2,559 in August fell to […]