Category:
Mobile Switch
Aug 15, 2010 (LBO) – Sri Lanka Telecom’s June 2010 net profit shot up 105 percent to 769 million rupees from a year ago as earnings from its mobile unit and broadband made up for falling voice revenues, a stock exchange filing said. Basic earnings per share rose to 0.43 rupees from 0.21 rupees the […]
Sri Lankan exporters brace for life without EU tax breaks
DANKOTUWA, August 15, 2010 (AFP) – Sri Lankan exporters braced for hard times as the EU’s withdrawal of import concessions took effect Sunday after Colombo’s refusal to allow scrutiny of its human rights record. Sri Lanka has long been a preferred source for top high streets brands and its garment, china and other exports enjoyed […]
Sri Lanka Tamil migrants in good condition: Canada
ESQUIMALT, August 14, 2010 (AFP) – Hundreds of Sri Lankan Tamil migrants who arrived aboard a rusty cargo ship were in good condition after their three-month voyage, Canadian officials said Saturday. The MV Sun Sea, a 59-metre Thai-registered ship reportedly carrying as many as 490 migrants, landed in Esquimalt, British Columbia on Friday, escorted by […]
Sri Lanka renewable energy drive seen hurt by red tape
Aug 14, 2010 (LBO) – Premature cancellation of projects and complex and lengthy approval procedures are retarding the development of renewable energy like mini-hydro power in Sri Lanka, an official said. “The government has set up the SEA which is now helping us to overcome problems and trying to streamline the process of granting approvals. […]
Sri Lanka strips former war-hero of pension and prestige
August 14, 2010 (AFP) – Sri Lanka’s president has formally stripped former army chief Sarath Fonseka of his rank, medals and pension after his conviction by a court martial, officials said Saturday. President Mahinda Rajapakse ratified Friday’s verdict of the controversial tribunal, which found Fonseka guilty of dabbling in politics while heading the military last […]
Sri Lanka Tamil migrants sail to uncertainty in Canada
VICTORIA, August 14, 2010 (AFP) – Hundreds of Tamils seeking asylum from Sri Lanka sailed into Canada on Friday under the scrutiny of authorities, who vowed to screen out Tiger rebels after charges that the country is too welcoming. After three months on the Pacific, a navy frigate escorted the shabby, Thai-flagged MV Sun Sea […]
Sri Lankan shares close up 1.61-pct
Aug 13, 2010 (2010) – Sri Lankan shares closed higher Friday as midcap stocks rallied mostly on retail investor interest amidst low trading volumes, while Environmental Resources Investments (ERI) shares continued to fall, brokers said. The All Share Price Index closed at 5,115.79, was up 1.61 percent (80.94 points) Friday, while the Milanka index of […]
Warranted Profits
Aug 13, 2010 (LBO) – Sri Lanka’s Environmental Resources Investments (ERI) made a profit of 44 million rupees in the June quarter from higher sales from Ceylon Leather Products Limited (CLPL) and a brokering firm acquisition, its interim results showed. The move followed unusual price swings and heavy trading in certain stocks including ERI warrants. […]
Sri Lanka July tourist arrivals up 50-pct
Aug 13, 2010 (LBO) – Tourist arrivals into Sri Lanka surged by 50 percent in July 2010 to 63,339 from a year ago as post-war optimism and removal of travel advisories encouraged visitors even during the off-season, latest data shows. The increase in the number of visitors was driven largely by more arrivals from Western […]
LBR-LBO CEO Forum
Aug 13, 2010 (LBO) – Dialog Axiata, Sri Lanka’s top celco which is turning around after heavy losses last year, had anticipated sales to come down due to economic slowdown, but did not see a price war coming, a senior official said. “It was the fact that an economic downturn and a price war both […]
‘s BlackBerry offensive widens to Google, Skype: report
NEW DELHI, August 13, 2010 (AFP) – India’s showdown with BlackBerry could reportedly widen to encompass Google and Skype after the government threatened to cut off core features of the popular smartphone on security grounds. Research In Motion, the BlackBerry’s Canadian maker, gave no immediate indication that it would accede to the latest pressure from […]
SriLankan Airlines to get more aircraft, increase flights
Aug 13, 2010 (LBO) – SriLankan Airlines is planning to support the country’s rapidly-growing tourism industry with a planned increase in worldwide flights and to acquire two more aircraft this year, a statement said. The national carrier plans additional capacity to Paris, Frankfurt, Milan, Rome, Bangkok, Singapore, Kuala Lumpur, Shanghai, Karachi and many cities in […]