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Sri Lankan shares close flat
Nov 23, 2009 (LBO) – Sri Lankan stocks closed flat Monday as investors remained cautious and trading sluggish, while selected high value counters made small gains, brokers said. The All Share Price Index closed at 2,931.07, down 0.08 percent (2.27 points) while the Milanka Price Index of more liquid stocks closed at 3,345.00, up 0.34 […]
Freight Rates
Nov 23, 2009 (LBO) – Sri Lankan shippers are confronted with an increase in transportation costs to and from their markets with loss-making global carriers raising freight rates or announcing rate hikes from next year to restore profitability.Some lines have also withdrawn vessels and services to and from the region and introduced ‘slow steaming’ in […]
Ship Building
Nov 23, 2009 (LBO) – Sri Lanka’s Colombo Dockyard said it was getting ready to deliver a passenger craft built for an Indian customer by year’s end and that its repair business had shifted to focus on specialised vessels from tankers.The yard, which books profits on vessel delivery, said in a statement it was preparing […]
Sri Lanka Malwatte profit down despite higher rubber earnings
Nov 23, 2009 (LBO) – Sri Lanka’s Malwatte Valley Plantations said net profit for the September quarter fell six percent to 152 million rupees from a year ago with earnings from rubber up sharply but no provision made for a recent wage hike. Sales in the quarter rose 21 percent to 717 million rupees, according […]
Sri Lanka tea industry eyes NZ dairy success
Nov 23, 2009 (LBO) – Sri Lanka’s tea industry needs to work together more closely like New Zealand’s dairy industry which dominates a big share of the world’s dairy trade, an industry official said. Kumar Jayasuriya, chairman of James Finlay, Colombo, a big plantations company whose ultimate parent is Britain’s Swire group, said the industry […]
Fight
SYDNEY, November 23, 2009 (AFP) – Australia moved to tighten security at its main immigration centre on Monday after a riot by 150 asylum-seekers, reportedly wielding pool cues, broomsticks and tree branches, left 37 wounded.Immigration Minister Chris Evans said security would be increased to prevent a repeat of Saturday’s mass brawl between Afghan and Sri […]
Sri Lanka to hold early presidential polls: minister
November 23, 2009 (AFP) – Sri Lanka will hold early presidential elections within months, media minister Anura Yapa told reporters on Monday, after government forces defeated the Tamil Tiger rebels six months ago.However former army general Sarath Fonseka, who is widely credited with the military strategy that secured victory in May, is expected to stand […]
Flashy Indian brides struggle with high gold prices
NEW DELHI, November 22, 2009 (AFP) – For Indian brides buying jewellery, the bigger the better is the general rule, but record gold prices during this year’s wedding season are forcing many to compromise.India is the world’s biggest consumer of gold, so the rise of local prices to records above 1,000 dollars an ounce is […]
Sri Lanka power generation up in August
Nov 22, 2009 (LBO) – Sri Lanka’s power generation rose 1.3 percent in August 2009 to 845 GigaWatt hours from a year earlier, with hydro power increasing its share, the latest official data showed.Petrol sales, used mostly for private transport was up 7.1 percent to 45,000 metric tonnes.To August petrol sales were up 4.6 percent […]
Sri Lanka resettlement plan needed: politicians, activists
November 22, 2009 (AFP) – The Sri Lankan government has failed to make adequate welfare provision for the 136,000 Tamil civilians it plans to release from internment camps, rights activists and opposition parties said Sunday. Heeding international calls for the camps to be closed, the authorities said the remaining detainees — held since the military […]
‘s JKH poised to put more cash into leisure
Nov 22, 2009 (LBO) – Sri Lanka’s John Keells Holdings is ready to invest nearly 6.0 billion rupees over the next two to three years in upgrading and building new hotels if tourism arrivals pick up after the end of a 30-year war as expected, an official said. By 2011 JKH would be ready to […]
Sri Lankan stocks close down 0.93-pct
Nov 20, 2009 (LBO) – Sri Lankan shares closed down Friday as retail investors continued to take defensive positions after speculation of tainted fund manager, Raj Rajaratnam divesting Commercial Bank stake, brokers said.DFCC Bank closed at 148.00 rupees, up 3.00, and National Development Bank closed at 180.00 rupees, up 1.00. Fixed line operator Sri Lanka […]