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SriLankan Airlines offers cargo delivery service in UK
Dec 28, 2011 (LBO) – SriLankan Airlines has begun a cargo delivery service to the United Kingdom that also offers customs clearance and documentation handling in an effort to gain a competitive edge. The new Door Delivery Cargo service is operated in collaboration with Air & Cargo Services Limited in the United Kingdom. The national […]
Sri Lanka primary dealer profit falls sharply
Dec 27, 2011 (LBO) – Newly listed primary dealer Entrust Securities said net profit for the six months ended September 30, 2011 fell 80 percent to 26. 8 million rupees from a year ago. Earnings per share of the firm, the first non-bank primary dealer to be listed, slipped to 81 cents from 4.10 rupees […]
Sri Lanka stocks close up 0.5-pct
Dec 27, 2011 (LBO) – Sri Lankan stocks closed higher for the third straight day with the main index climbing back over the 6,000 point mark and large deals in a bank accounting for most of the turnover, brokers said. The main All Share Price Index rose 0. 54 percent (32.51 points) to 6,015.09, while […]
Sri Lanka islet eyed by India firm
Dec 27, 2011 (LBO) – Delta Corporation, an India based firm, is in talks with Sri Lanka for 75 million dollar tourism development in an islet off the northwestern coast of the island, an official familiar with the matter said. Officials have said that 185 project proposals worth 1.85 billion US dollars have been received […]
Sri Lanka plans remote aerial, underwater marine research
Dec 27, 2011 (LBO) – Sri Lanka’s marine researchers are planning to use aerial and underwater unmanned vehicles with remote sensing technology to study the oceans around the country, officials said. Sri Lanka’s National Aquatic Research Agency (NARA) wants to team up with the island’s air force to use unmanned aerial vehicles (UAVs) for marine […]
Indian job market forecast to see slower hiring activity
NEW DELHI, Dec 27 (Asia Pulse) – The Indian job market is expected to see slower hiring activity, but double-digit salary hikes next year as employers are embracing a “cautiously optimistic” approach amid the economic uncertainty. However, apprehensions are high that the economic slowdown and declining industrial output could seriously affect the hiring plans of […]
Sri Lanka Janashakthi Insurance retains A-/P2 ratings
Dec 27, 2011 (LBO) – RAM Ratings Lanka has confirmed Janashakthi Insurance’s long- and short-term claims-paying-ability ratings at A- and P2, with the outlook on the long-term rating remaining stable. “Janashakthi’s ratings are supported by its good competitive position, financial performance in the life segment and capitalisation levels,” a statement said. “On the other hand, […]
Aviation Fuel
Dec 26, 2011 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has called bids to build an aviation fuel terminal at a second international airport being constructed in Mattala, in the South of the island. Mattala airport in Sri Lanka’s Hambantota district, is being built with Chinese finance. Sri Lanka’s Ceylon Today newspaper said the […]
Sri Lanka expropriated high rise to state agencies: report
Dec 26, 2011 (LBO) – A partially built high rise building in Sri Lanka’s capital Colombo which will be taken over and completed by a consortium of state entities following its expropriation, a media report said. Celestial Residencies, a building initiated by the troubled Ceylinco group where construction was halted will be completed with 9.2 […]
Sri Lanka islet eyed by Canada firm for US$300mn leisure project
Dec 25, 2011 (LBO) – Sri Lanka is in talks with Sapphire Bay, a Canadian based leisure firm to develop an islet off the northwestern coast of the island in a 300 million dollar investment golf course and hotel development. Arrivals in the 11 months to November 2011 rose 33.1 percent from a year earlier, […]
Sri Lanka forex reserves down 15-pct in October
Dec 24, 2011 (LBO) – Sri Lanka’s forex reserves fell 14. 8 percent off a high reached in July to 6,896 million US dollars by October 2011, as the island’s soft-dollar peg continued to be pressured, official data showed. Sri Lanka ‘sterilizes’ interventions to control the interest rate. A monetary regime in which both the […]
Indian growth projected at 7.6-pct for 2011: RBI Gov
VIJAYAWADA, (AsiaPulse) – Reserve Bank of India Governor D Subbarao said the economic growth rate for the current fiscal year is projected at 7.6 per cent as against earlier projections of 8 per cent. While hoping to tame down the inflation below 7 per cent by the year end, Subbarao said he was not sure […]