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Menswear comes of age with first India fashion week
NEW DELHI, September 10, 2009 (AFP) – India is set to host its inaugural men’s fashion week from Friday, which observers say is a long overdue nod to a growing and lucrative market often overshadowed by women’s clothes.The event in the capital New Delhi hopes to capture the interest of India’s millions of young males, […]
Sri Lanka power plants shut down over fuel snag
Sept 10, 2009 (LBO) – Several power plants supplying Sri Lanka’s national power grid has shut down following problem with furnace oil supplied by state-run Ceylon Petroleum Corporation, power sector officials said. Around 270 MegaWatts of capacity held by independent power producers had been taken off line following a problem that is believed to be […]
Sri Lanka Treasuries yields flat
Sept 09, 2009 (LBO) – Yields of Sri Lanka government bonds remained flat at Wednesday’s auction with only 8.8 billion rupees out of 12.0 billion rupees of maturing bills being sold to the market, the government’s debt office said.The 3-month average yield was down 01 basis point to 10.54 percent, the 6-month yield was down […]
Sri Lankan shares hit new 28 month high, up 84.9% in 2009
Sept 09, 2009 (LBO) – Sri Lankan shares closed up 2.3 percent Wednesday hitting a new 28-month high as retail investors pushed up the market, though expectations of profit-taking are emerging, brokers said. The benchmark had gained 84.9 percent from the beginning of the year while the Milanka was up 91.7 percent, the Colombo Stock […]
Sri Lanka travel firm in pilgrimage market with Indian rail
Sept 09, 2009 (LBO) – Sri Lanka’s Hemas Travels is breaking into the Buddhist pilgrimage market by offering an eight-day tour in a dedicated train in partnership with the Indian rail system. Pilgrims are taken on Mahaparinirvana Express a dedicated train, with sleeping births and dining facilities offered at between 105 to 150 dollars a […]
Sri Lanka to lease islands for hotels
Sept 09, 2009 (LBO) – Sri Lanka plans to lease islands off the north-west coast for tourist hotels, as the travel industry recovers after the end of the 30-year ethnic war, government officials said. We now wonder whether 4,000 rooms will be enough to meet increasing demand, he said. Sri Lanka has seen an upturn […]
Sri Lanka islet resort by Six Senses chain
Sept 09, 2009 (LBO) – International luxury hotel chain Six Senses is to manage a resort built on an islet on the north west coast of Sri Lanka becoming the first tourism project to be announced after an ethnic war ended, officials said. The 60 mangrove boutique chalets will located within inland water bodies and […]
Sri Lanka plantations firms, unions in more wage talks
Sept 09, 2009 (LBO) – Sri Lankan regional plantations companies (RPCs) and labour unions are to hold another round of talks on a wage hike Thursday to resolve differences that have disrupted production and transport of tea, officials said. Obeysekere said workers continued to disrupt work on estates, disrupting supplies of water and electricity, apart […]
Sri Lanka gets US help to clear mines
Sept 09, 2009 (LBO) – The United States military’s Pacific Command is providing training and equipment to the Sri Lanka Army (SLA) to helps it clear landmines in the island’s former war zone, the US embassy said. This training will build additional SLA capacity to clear mines in the Northern Province and expedite the safe […]
‘s Sri Lanka expulsion
UNITED NATIONS, September 8, 2009 (AFP) – UN chief Ban Ki-moon Tuesday denounced a decision by the Sri Lankan government to expel a UNICEF spokesman, who allegedly took a pro-rebel stance at the end of the island’s ethnic war. “The secretary-general strongly regrets the decision of the Sri Lankan government to expel Mr.James Elder,” Ban’s […]
Gold higher, the best bet in uncertain times
PARIS, September 9, 2009 (AFP) – Gold is back in favour, hitting 18-month highs above 1,000 dollars as investors hedge their bets on the dollar in a global economy struggling out of its worst slump in decades, analysts said. Gold is the ultimate store of value when all else fails and in uncertain times like […]
Sri Lanka lags Pakistan and Maldives in ease of doing business: IFC-World Bank study
Sept 09, 2009 (LBO) – Bangladesh was the top reformer in South Asia in the past year, and Pakistan and Maldives remained in the lead as the easiest places to do business, with Sri Lanka a distant third, an annual World Bank’s survey said. Nepal had cut the fee for transferring a property from 6.0 […]