Category: Industry
White House counters nationalist attacks on trade freedom efforts
WASHINGTON, February 18, 2014 (AFP) – The White House moved Tuesday to fend off criticism of its efforts to seal two new giant free trade pacts, saying the deals would benefit US workers and protect the environment.“Some of the criticisms I hear of our agenda describe the state of the trade policy in 1994, not […]
Energy-starved Pakistan sets sights on coal
GADANI, February 19, 2014 (AFP) – After years of rolling blackouts that have wreaked havoc on industry and fuelled political unrest, energy-starved Pakistan has set its sights on a coal-fired future. Regarded as the dirtiest of all fossil fuels, recent discoveries of untapped coal fields in southern Pakistan have convinced the government they could be […]
Tele Gains
Feb 18, 2014 (LBO) – Profits at Sri Lanka’s Dialog Axiata, which has interests mobile, fixed and pay television, rose 20 percent from a year earlier to 1.1 billion rupees in the December 2013 quarter, interim accounts showed. The group reported earnings of 14 cents per share for the quarter. In the year to December […]
Cricket: Rain theatens Bangladesh-Sri Lanka ODI
DHAKA, February 17, 2014 (AFP) – Bad weather has delayed the start of the first one-day international between Bangladesh and Sri Lanka in Dhaka on Monday.The outfield at the drenched Sher-e-Bangla stadium was wet and slippery at the scheduled toss time of 12.30 pm (0630 GMT), amid fears the match may be badly curtailed. The […]
Cricket: Perera rescues Sri Lanka against Bangladesh
DHAKA, February 17, 2014 (AFP) – Thisara Perera smashed an unbeaten 80 off 57 balls as Sri Lanka recovered from an embarrassing batting failure to post 180 all out in the rain-curtailed first one-day international against Bangladesh on Monday. Rubel Hossain, Shakib Al Hasan and Arafat Sunny claimed two wickets each to leave Sri Lanka […]
Smaller planes in demand as Asia travel boom deepens
SINGAPORE, February 16, 2014 (AFP) – Smaller passenger planes are increasingly in demand in Asia as budget carriers cash in on the region’s growing middle classes by expanding their reach to less prominent cities, industry executives say.So-called “regional” jets — short to medium-haul aircraft that generally seat under 100 passengers — were among the best-sellers […]
Cricket: Sri Lanka oust Bangladesh in another T20 thriller
CHITTAGONG, February 14, 2014 (AFP) – Sachithra Senanakaye hit a boundary off the last ball as Sri Lanka secured a dramatic three-wicket win over Bangladesh in the second Twenty20 match in Chittagong on Friday to win the series 2-0.Bangladesh’s batting never recovered after losing openers Tamim Iqbal and Shamsur Rahman in the first two overs. […]
Maritime Reconnaissance
SYDNEY, February 15, 2014 (AFP) – Australia plans to buy seven giant unmanned drones for Aus billion (US.7 billion), potentially to help patrol its borders, a report said on Saturday. The use of large unmanned aircraft patrolling the nation’s borders has been mulled for a decade but the previous Labor government would not sign off […]
Group Result
Feb 14, 2014 (LBO) – Profits at Sri Lanka’s DFCC Bank group rose 3.8 percent from a year earlier to 791 million rupees in the December 2013 quarter helped by fair value gains and interest income, interim accounts showed. The firm reported earnings of 2.99 rupees per share for the quarter. For the nine months […]
Retail Trend
Feb 13, 2014 (LBO) – Profits at Sri Lanka’s Odel Plc, a fashion retailer fell 40 percent to 46.0 million rupees in the December 2013 quarter from a year earlier, amid weaker sales and narrower margins, interim accounts showed.The firm reported earnings of 17 cents per share for the quarter. In the nine months to […]
Sri Lanka Taj unit in losses amid refurbishment
Feb 13, 2014 (LBO) – Sri Lanka’s Taj Lanka Hotels Plc, a unit of India’s Taj Hotels and Resorts said it lost 118 million rupees in the December 2013 quarter as the hotel went through a refurbishment.Revenues were down 34 percent to 355 million rupees, cost of sales fell 2 percent to 388 million rupees […]
Upgraded
Feb 12, 2014 (LBO) – RAM Ratings Lanka said it had upgraded a ‘BB-‘ rating of BRAC Lanka Finance Plc (formerly Nanda Investments, by two levels to ‘BB+’ following an ownership change. l The rating has a stable outlook. Bangladesh-based BRAC bought into the firm and RAM said support was expected from the parent. The […]