Category:
Strong Numbers
Aug 24, 2009 (LBO) – Profits at Sri Lanka’s state-run Bank of Ceylon group grew 82. 1 percent to 1,832 million rupees from a year earlier, on strong net interest growth and forex income, despite higher loan losses, interim June 2009 quarter accounts showed. Deposits grew 13.7 percent to 361.2 billion rupees from the beginning […]
Sri Lanka Aitken Spence, Six Senses revive spa project
Aug 24, 2009 (LBO) – Aitken Spence, one of Sri Lanka’s top hotel firms, has resumed talks with Six Senses Spas, an international spa chain, on building an up-market resort on the south-west coast, a senior official said.“Next to Heritance Ahungalla we have 10 acres and 27 acres on an island in Madhu Ganga, very […]
Minister says Air India needs bailout: report
NEW DELHI, August 24, 2009 (AFP) – Air India needs a bailout of nearly 620 million dollars to keep flying, a minister said in remarks published Monday, in which he added he was certain the loss-making airline would survive. “I want this reduced for both low-cost and full-service carriers,” he said.“I have always advocated a […]
Sri Lanka Hemas to list power company
Aug 24, 209 (LBO) – Sri Lanka’s Hemas Holdings group said the Colombo stock exchange has approved its application to list a power subsidiary, Hemas Power, on the bourse’s main board. Hemas owns half of the Heladhanavi 100 mega watt thermal power plant and a two mega watt mini-hydro power plant in Kandy in the […]
Sri Lanka calls for more Tests in T20 era
August 24, 2009 (AFP) – Sri Lanka’s top stars, including the world’s leading bowler Muttiah Muralitharan, want more Test matches to be played despite the growing popularity of Twenty20 cricket.The off-spinner, who has more Test (777) and one-day (511) wickets than any other bowler and will quit the five-day game at the end of 2010, […]
‘s afraid of mobile phones?
Aug 24, 2009 (LBO) – The past few weeks have been bad for mobiles and modernity. In Sri Lanka, a girl commits suicide using a school tie. In response, mobiles are banned in government schools as well as in private and international schools.(I’m still wondering who gave this authority to the telecom regulator).Students as well […]
Sri Lanka insurance firm makes loss as costs rise
Aug 23, 2009 (LBO) – Sri Lanka’s Asian Alliance Insurance Company said it made a 48-million rupee loss in the first half of 2009 as higher claims and operating and re-insurance costs erased gains from investment income. Asian Alliance said in a stock exchange filling gross written premiums for the first half 2009 went up […]
Sri Lanka offers Pakistan exclusive industrial zone: report
Aug 23, 2009 (LBO) – Sri Lanka has offered an industrial zone exclusively for Pakistan in a bid to promote inward investment from South Asian and Middle East regions, a media report said. Sayeed was quoted as saying that he will promote Pakistani firms to set up joint ventures in Sri Lanka and promote trade […]
‘s weary war refugees face monsoon misery
August 23, 2009 (AFP) – Tamil civilians who lived through the vicious final battle of Sri Lanka’s separatist war are now locked in another struggle for survival with heavy rains bringing misery to the camps they call home.Nearly 300,000 people displaced by the fighting between government troops and Tamil Tiger rebels are held in what […]
Sri Lanka eyes peace dividend after crushing Tigers
August 23, 2009 (AFP) – Conflict-torn Sri Lanka is banking on foreign cash to rebuild shattered infrastructure as the island emerges from decades of ethnic civil war, officials say.Analysts are expecting a large investment peace dividend in the country where bomb attacks and fighting dented investor confidence and kept high-spending tourists away from the tropical […]
Mobile Cover
Aug 22, 2009 (LBO) – Mobitel, a unit of fixed access carrier Sri Lanka Telecom will spend up to 30 million US dollars expanding in to former war zones in the north and the east of the country, a top official said. The network had notched up 3.1 million subscribers, Amasekera said on August 19, […]
Nepal, India agree trade deal as PM wraps up visit
NEW DELHI, August 22, 2009 (AFP) – India and Nepal agreed to a new trade treaty Saturday as Prime Minister Madhav Kumar Nepal ended a five-day official visit to the regional giant that both countries hailed as successful.Nepal, on his first official visit to the country since his appointment in May, earlier met his Indian […]