Category:
Cargo Flow
July 07, 2010 (LBO) – Container volume growth at a Colombo port private terminal run by an associate firm of John Keells Holdings slowed down sharply in June after surging in previous months, latest data shows. South Asia Gateway Terminals, a big contributor to JKH profits, handled 158,652 TEUs or twenty-foot equivalent container units (TEUs) […]
Credit Line
July 7, 2010 (LBO) – Sri Lanka’s Lanka Orix Leasing Company will expand credit to war torn northern and eastern areas of the country armed with a credit line from the French government, officials said. PROPARCO, the private sector funding arm of the French foreign aid agency gave a 10 million euro credit line to […]
Sri Lanka top tea brand invests in plantations
July 07, 2010 (LBO) – Tea bag exporter Ceylon Tea Services, part of Sri Lanka’s Dilmah brand group, is to invest 233.3 million rupees in a tea plantations subsidiary of the parent firm, a statement said. Ceylon Tea Services said in a stock exchange filing that it bought 15,553,600 rights in Kahawatte Plantations from Forbes […]
Maldives president reappoints cabinet : official
July 7, 2010 (AFP) – Maldivian President Mohamed Nasheed on Wednesday reappointed his cabinet in a bid to end the power struggle between himself and parliament, an official said. Nasheed swore in his 13-member cabinet in the seafront capital of Male, giving ministers the same portfolio they had before they resigned last Tuesday, a senior […]
Bangladesh sex workers plump up on cow steroids
FARIDPUR, July 7, 2010 (AFP) – Whenever Bangladeshi brothel owner Rokeya, 50, signs up a new sex worker she gives them a course of steroid drugs often used to fatten cattle. For older sex workers, tablets work well, said Rokeya, but for younger girls of 12 to 14 — who are normally sold to the […]
Sri Lanka buys out Emirates for US$53mn
July 07, 2010 (LBO) – The Sri Lankan government has bought a stake owned by Emirates in SriLankan Airlines for 53 million dollars taking full control of its national carrier, finance ministry secretary P B Jayasundera said. Emirates managed the airline for 10 years from 1998. “Payment has been made and shares are held by […]
‘s retiring Muralitharan says his time is up
NEW DELHI, July 7, 2010 (AFP) – Sri Lanka’s world bowling record holder Muttiah Muralitharan said on Wednesday he was retiring from Test cricket because he had nothing left to strive for. “I have achieved what I wanted to achieve. There is nothing left or any target to reach,” the 38-year-old told the Mumbai-based Daily […]
Sri Lanka to push up investment levels with stability, low deficits: Treasury secretary
July 07, 2010 (LBO) – Sri Lanka will maintain public investment at around 6 percent of gross domestic product and will attempt to kindle private investment five times that by creating an environment for people to invest, an official said. “Government will invest in areas not very attractive to the private sector,” Treasury secretary P […]
Sri Lanka developing concept plan for Colombo
July 07, 2010 (LBO) – Sri Lanka is drawing up a concept plan to develop Colombo city, clear under-utilized area, reclaim land from the sea and open them for development by the private sector, officials said. Treasury secretary P B Jayasundera said plans for a ‘new city’ reclaimed out of the sea would be announced […]
Sri Lanka April foreign reserves at US$5.2bn
July 06, 2010 (LBO) – Sri Lanka’s official foreign reserves edged up to 5,515 million US dollars in April 2010 from 5,192 million US dollars while imports also grew steeply on the back of a recovery in economic activities. The trade account is only a part of the balance of payments dealing with goods. The […]
Sri Lankan stocks close down 0.25-pct
July 06, 2010 (LBO) – Sri Lankan shares closed down Tuesday as retailers took defensive positions to minimize losses, while price gains on selected blue chip and midcap shares stopped the market from falling further, brokers said. The All Share Price Index closed at 4,547.18, down 11.30 points, while the more liquid Milanka index fell […]
Better Connection
July 06, 2010 (LBO) – Dialog Telekom has inked an Inter-Carrier-Interconnection (ICI) deal with Hong Kong based HKT group which enable users to maintain a network similar to a local area network (LAN) with international branch offices. The network upgrade will allow users to interconnect voice, data and video applications with overseas branch network similar […]