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Sri Lanka economic forum to focus on export growth
June 05, 2013 (LBO) – An annual economic policy forum with the participation of businesses, academics and state officials this year will focus on strategies needed to boost the island’s flagging exports, its organizer, Ceylon Chamber of Commerce said.Sri Lanka’s exports fell 18.2 percent to 726.7 million US dollars in January 2013 from a year […]
Sri Lanka stocks close flat
June 04, 2013 (LBO) – Sri Lanka’s stock closed flat Tuesday with investors continuing to take profit and losses in some index heavy stocks like JKH, DIST and NEST, brokers said. Softlogic Holding closed at 11.40 rupees down 30 cents and Vallibel One closed at 19.10 rupees down 60 cents. Sri Lanka Telecom closed at […]
Port Call
June 04, 2013 (LBO) – Sri Lanka’s Hambantota Port has drawn about a billion US dollars in investments in a second call for investors, the state port agency chairman Priyath Wickrama said. Eleven manufacturing and processing for export industries with combined value of a billion US dollars had been selected by a cabinet appointed negotiations […]
‘s Nilaveli Beach gets Trip Advisor accolade
June 04, 2013 (LBO) – Nilaveli Beach Hotel in Trincomalee in Sri Lanka’s Eastern coat said it had been recognized by Trip Advisor, a travel review site for two years running based on user responses.The Trip Advisor Certificate of Excellence is given only to the top 10 percent of businesses listed on the site, the […]
National Link
June 04, 2013 (LBO) – Sri Lanka Telecom, the island’s sole wireline operator which also has mobile and video services, said it had been formally licensed to operate a national backbone with its fibre-optic network. Other operators are also given access to the National Backbone Network (NBN). “SLT’s network is ready with the necessary flexibility, […]
Price Fix
NEW YORK, June 3, 2013 (AFP) – A US government lawyer accused Apple Monday of concocting a deliberate scheme to fix prices of electronic books as the antitrust trial against the tech giant got underway. “Apple knowingly and intentionally committed to a common scheme of publishers to raise prices,” Justice Department attorney Lawrence Buterman told […]
Sri Lanka hotels have room to cut running costs with less energy, water: IFC study
June 04, 2013 (LBO) – Sri Lanka’s larger hotels are starting to use energy and water saving technology but there is potential to save operating costs including in those under construction, a study has found. International Finance Corporation a World Bank unit said among the three, four and five star hotels surveyed good practices were […]
Sri Lanka logistics drive will help growth: IMF rep
June 04, 2013 (LBO) – Sri Lanka drive to invest in ports, airports and ground transport will help the island link itself to the global trade, drive exports and growth, an International Monetary Fund official said.Global trade which plunged 20 percent in 2008 and 2009 has started to recover from 2010 and has now grown […]
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June 03, 2013 (LBO) – Fitch Ratings has given a ‘BBB+(lka)’ expected rating to a proposed 1.25 billion rupees senior debenture issue by Singer Finance (Lanka) Plc. Rating Sensitivities Any changes in Singer’s ability or willingness to extend extraordinary support, as reflected in a change to Singer’s rating, a material reduction in Singer’s ownership in […]
Fire Fight
June 3, 2013 (LBO) – A fire at a general cargo warehouse at Sri Lanka’s Colombo Port which resulted in about 600 million rupees of damage appeared to have been caused by falsely declared dangerous chemicals, officials said.Sri Lanka Ports Authority Chairman Priyath Wickrama said 461 customers had given information about the cargo imported and […]
Speed
June 3, 2013 (LBO) – Mobitel, a unit of Sri Lanka Telecom, said mobile fourth generation (4G) broad band services had gone live in Colombo, Galle, Hambantota, Jaffna, Kalutara, Kandy, and Matara.Enterprises can benefit from the service as it is reliable and has higher average speeds of Mobitel’s mobile 4G-LTE service which is backed by […]
Cricket: Fixing scandal casts cloud over Champions Trophy
SOUTHAMPTON, United Kingdom, June 03, 2013 (AFP) – The world’s leading cricketers gather for the Champions Trophy in the UK that starts this week against the backdrop of a growing fixing scandal emerging from the Indian Premier League, which has already claimed several high-profile casualties.Such is the extent of the crisis, Narayanswamy Srinivasan, the seemingly […]