Category:
Arbitrage
June 10, 2008 (LBO) – Laugfs Auto Gas, a Sri Lankan gas distributor that started conversion of vehicles to run on auto gas, said that it was timely for owners to covert to gas because it is now almost 50 percent cheaper than petrol.“Liquid petroleum gas has always been cheaper than petrol and we believe […]
Sri Lankan shares slip further
June 09, 2008 (LBO) – Sri Lankan shares ended weaker Monday on thin trading as weak sentiment continued with investors worried about high inflation and interest rates and lower company earnings, brokers said. Price losers outnumbered gainers 76 to 39, Bartleet Mallory Stockbrokers said.The All Share Price Index lost 0.28 percent (6.94 points) to end […]
Port Bids
June 09, 2008 (LBO) – Sri Lanka has re-appointed project committees to award a container terminal concession to expand Colombo port, with fresh bids expected to be called by end-July, a top official said. Under the new agreement, the loan became effective in May while the government has agreed to award the terminal concession within […]
Sri Lanka Continental hotel new owners seek pricing freedom: report
June 09, 2008 (LBO) – The new owners of Sri Lanka’s Continental Hotel have taken board control and sought approval from tourism authorities to sell rooms at lower rates, a media report said. Hotel Services (Ceylon) Ltd, which owns the Continental Hotel in the Sri Lankan capital Colombo, was sold by former owner U K […]
‘s Horana plantation caps management fees
June 09, 2008 (LBO) – Sri Lanka’s Horana Plantations, which is managed by the Ceylon Theatres group has capped management fees to 15 million rupees a year, the company said. In the second stage the estates were sold to managing agents. Despite gaining ownership, the management companies kept the fees and used them to finance […]
Mind Guide
June 9, 2008 (LBO) – An education fair to guide post-secondary education students find appropriate opportunities for further studies which are oriented to current economic needs will kick off on June 27, its organizers said. The ‘Future Minds’ national education and carrier exhibition will be on for three days at the Bandaranaike Memorial International Conference […]
Outsourcing
June 09, 2008 (LBO) – Sri Lankan Airlines is buying database services from IBM World Trade Corporation and is looking to outsource more information technology services, the company said. “¦SriLankan Airlines is exploring the opportunities available for outsourcing certain IT functions, creating further opportunities for players in Sri Lanka’s IT industry¦” the airline’s head of […]
New Faces
June 9, 2008 (LBO) – Sri Lanka Telecom (SLT), the island’s top fixed access telco said its Malaysian shareholder had appointed new directors after NTT Communications sold out and its representative resigned from the board. NTT with its 35 percent stake was allowed by majority shareholder Sri Lanka government to appoint the chief executive. Sri […]
Indian shares fall 4.66 percent to near three-month low
MUMBAI, June 9, 2008 (AFP) – Indian shares fell 4.66 percent to under 15,000 points in morning trade Monday in the wake of a Wall Street plunge triggered by surging oil prices and a sharp jump in US unemployment, dealers said. The benchmark Mumbai 30-share Sensex index fell 726 points to 14,846.18, a near-three month […]
Oil prices take breather amid recession fears
SINGAPORE, June 9, 2008 (AFP) – World oil took a breather Monday from spiralling prices seen hitting 150 dollars which have prompted consumer nations to urge a production increase amid warnings of a global recession. New York’s main oil futures contract, light sweet crude for July delivery, eased 1.06 dollars to 137.48 dollars a barrel […]
Japanese shares sharply lower Monday
TOKYO, June 9, 2008 (AFP) – Japanese shares were trading sharply lower early Monday after falls on Wall Street on Friday and a record surge in crude oil prices combined with a sharp jump in US unemployment. The benchmark Nikkei-225 index fell 343.04 points or 2.37 percent to 14,146.40 about fifteen minutes after the opening […]
Emotional moments from past Olympics
PARIS, June 09, 2008 (AFP) – Each Olympics brings out some memorable emotional moments and Beijing should not be any different.Here, AFP Sports picks out a selection of several of the outstanding memories: LONDON 1908 – The marathon that was not elementary John Hayes is one of the few winners of the Olympic marathon who […]