Category:
Sri Lanka Talawakelle Tea buoyed by rubber, hydro power
May 02, 2011 (LBO) – Sri Lanka’s Talawakelle Tea Estates said March 2011 quarter net profit rose nine percent to 72 million rupees from a year ago with lower tea earnings offset by gains from rubber and hydro power. Profits from mini-hydro power soared 319 percent to 29 million rupees during the quarter from seven […]
”
NEW DELHI, May 2, 2011 (AFP) – The killing of Al-Qaeda mastermind Osama bin Laden near Islamabad is further evidence that terrorists find “sanctuary” in Pakistan, Indian Home Minister P. Chidambaram said Monday. “We take note with grave concern that part of the statement in which President Obama said that the firefight in which Osama […]
Bin Laden killing casts doubt on Pakistan loyalties
ABBOTTABAD, May 2, 2011 (AFP) – The killing of Osama bin Laden by US forces at a palatial villa near the capital raised fresh questions Monday over Pakistan’s loyalties in the war against Al-Qaeda. For years, Western officials believed that the world’s most wanted man, with a million price on his head, was hiding in […]
Sri Lanka HNB Assurance March net up 23-pct
May 02, 2011 (LBO) – Sri Lanka’s HNB Assurance’s profits in the March 2011 quarter rose 23 percent to 24. 7 million rupees from a year earlier and gross written premium rose 27 percent to 684 million rupees interim accounts showed. The firm paid 198 million rupees in net claims and benefits net. The firm […]
‘s Sangakkara questions Tillakaratne fix claims
NEW DELHI, May 2, 2011 (AFP) – Sri Lanka’s World Cup captain Kumar Sangakkara has challenged former skipper Hashan Tillakaratne to prove his recent allegations of rampant match-fixing, a report said Monday. “Hashan has played the game for years and he’s captained Sri Lanka as well. So it’s interesting to see what he has to […]
Sri Lanka hotel profit margins on the rise: report
May 01, 2011 (LBO) – Profit margins of Sri Lanka’s tourist hotels are widening with an influx of arrivals and rising room rates after the end of its 30-year ethnic war, a report said. RAM Ratings also noted that despite the recent rate hikes, Sri Lankan hotel rates are still lower than those of the […]
‘s May Day rallies reject UN war report
May 1, 2011 (AFP) – The Sri Lankan government used May Day rallies on Sunday to reject a United Nations report that alleged the military may have been guilty of atrocities during the island’s civil war. Roads were decorated in the party colours of blue, red and maroon, while billboards were erected showing the president […]
US envoy heads to Sri Lanka amid war flap
WASHINGTON, April 29, 2011 (AFP) – A US envoy heads to Sri Lanka next week to encourage a full accounting over its civil war after the government angrily rejected UN-backed allegations of atrocities, officials said Friday. Robert Blake, the assistant secretary of state handling South Asia, will leave Saturday on a six-day trip to Sri […]
Sri Lanka smokers cough up taxes worth 1-pct of GDP
Apr 30, 2011 (LBO) – Sri Lanka’s smokers have coughed up 56 billion rupees in taxes collected through Ceylon Tobacco Company, a unit of British American Tobbacco which is equal to one percent of gross domestic product, the company said. Taxes rose by 3.7 percent or 7.0 percent from a year earlier. CTC chairman Jayampathy […]
Sri Lanka stocks end down
Apr 29, 2011 (LBO) – Sri Lankan shares closed down Friday with heavy trading in the banking and finance sector, brokers said. The main All Share Price Index closed at 7,356. 97, down 0.28 percent (20.68 points) while the more liquid Milanka index fell 0. 20 percent (13.56 points) to close at 6,822.77, according to […]
Rural Access
Apr 29, 2011 (LBO) – The United Kingdom’s Cleveland Bridge UK Ltd has won a contract to build 210 permanent steel bridges in Si Lanka in a project partly funded with a loan of 35 million sterling pounds (6. 2 billion rupees). A government statement said the Cabinet of ministers approved a proposal made by […]
Loan Limits
Apr 29, 2011 (LBO) – Sri Lanka’s banking regulator has imposed limits on commercial bank exposure to the stock market which has been among Asia’s top performing bourses in the last two years. New guidelines issued by the central bank limits bank lending to buy stocks to less than 05 percent of total loans, with […]