Category:
Sri Lanka stocks close lower on Dialog Telekom worries
May 23, 2008 (LBO) – Sri Lanka stocks closed 0.51 percent lower Friday affected by a 75 cent drop in the share price of Dialog Telekom after it released quarterly results showing profit falling by half, brokers said. Total turnover was 301.8 million rupees with 9.9 million in volume trade. The All Share Price Index […]
Direct Credit
May 23, 2008 (LBO) – Sri Lanka’s People’s Leasing is getting 10 million US dollars from the Asian Development Bank (ADB) which it can start lending within the next 30 days, a top official said. People’s Leasing inked a deal Friday with the ADB to lend to the small and medium enterprises in the island. […]
Sri Lanka Hilton wins global hotel chain brand award
May 23, 2008 (LBO) – Sri Lanka’s Hilton hotel has won the regional and global Hilton brand awards for 2007, beating some 500 hotels across the world, a statement from the ministry of tourism said. The Hilton Colombo was judged the best hotel in Asia in the balanced scorecard category which measures a hotel’s performance […]
Sri Lanka tourist trade lures Arab travelers
May 23, 2008 (LBO) – Sri Lanka’s April tourist arrivals dropped ten percent to 29,747 compared to the same period last year, despite a surge in visitors from the Middle East, a market where the island is being promoted in a new campaign, the Tourist Board said. The highest drop in arrivals of twenty five […]
e-Winner
May 23, 2008 (LBO) – Sri Lanka’s digital self learning initiative, ‘Shilpa Sayura’, emerged winners in the education category of the Stockholm Challenge 2008 in in Sweden, the state ICT Agency (ICTA) said. The Stockholm Challenge awards were started in 1994 and is now owned by the Royal Institute of Technology (KTH) in Stockholm. The […]
Match Making
May 23, 2008 (LBO) – Sri Lankan Information Communication Technology (ICT) companies plan to take part in a business forum in the United Kingdom to promote joint product development, marketing and sales, its organizers said in a statement. Supported by UK Trade and Investment (UKTI), the match-making mission aims to link Sri Lankan companies with […]
Mobile Numbers
May 23, 2008 (LBO) – Sri Lankan mobile operator Dialog Telekom said its first quarter net profits fell by more than half after it cut prices owing to growing competition and rising costs took their toll. Despite Dialog TV revenues growing by 187 percent over the same 2007 quarter, it made loss of 114 million […]
Sri Lanka to apply for EU GSP+; industry warned not to depend on concessions
May 23, 2008 (LBO) – Sri Lanka’s government said it was pressing ahead with applying for trade concessions from the European Union in October but warned industrialists not to depend on trade concessions. Rajapaksa warned last month that if the trade concessions are lost the private sector should improve productivity and “face the challenge.” Industry […]
‘s BP Solar
May 23, 2008 (LBO) – Sri Lanka has awarded a contract for rural solar electrification to Australia’s BP Solar, a senior government minister said. The local government ministry said in a note to cabinet that the contract to BP Solar (Pty) Ltd of Sydney was recommended by a cabinet appointed negotiation committee. The scheme will […]
Key eurozone study highlights flagging private sector
BRUSSELS, May 23, 2008 (AFP) – A key survey released Friday boosted fears that the eurozone is flagging, pointing to a sharp slowing in business activity as soaring oil prices, the high euro and the US-born credit crunch take their toll.The widely-watched eurozone’s purchasing managers’ index (PMI), compiled by NTC Research, found that business activity […]
No more whoopee for Indian rupee
NEW DELHI, May 23, 2008 (AFP) – India’s currency is feeling the pressure as world oil prices soar and foreign investors lose their “risk appetite” for emerging market assets amid global financial turmoil, analysts say.The Indian rupee — which a few months ago was trading at 10-year highs — now looks poised to post its […]
India trade minister rejects new WTO texts
NEW DELHI, May 22, 2008 (AFP) – New draft texts on industrial goods aimed at clinching an elusive deal in global trade talks will have to be “completely revised,” India’s commerce minister said on Thursday.The World Trade Organisation’s Doha round of talks to reduce trade barriers was launched in 2001 with the target of reaching […]