Category: Industry
” Pakistan cricket film hits cinemas
KARACHI, August 23, 2013 (AFP) – A Pakistani film about a boy emulating the fairytale career of cricket star Shahid Afridi hit cinemas Friday despite objections from the player over “obscene” scenes he fears could damage his image. The $1 million Pakistan-made movie “Main Houn Afridi” (“I am Afridi”) tells the story of a young […]
Century
Aug 25, 2013 (LBO) – Sri Lanka’s Hambantota port has welcomed its 100th roll-on-roll-off car carrier this month when ‘Istra Ace’, a vessel operated by Mitsui OSK Line called at the port.Sri Lanka Ports Authority said it started handling car carriers at the port on June 2012. SLPA chairman Priyath Wickrama said the port has […]
Court Order
COLOMBO, August 23, 2013 (AFP) – A Sri Lankan court Friday lifted a ban on the sale of milk products of New Zealand dairy giant Fonterra which has been under pressure over a global botulism scare. A New Zealand government website says DCD is not toxic and poses no food safety risks but Sri Lanka’s […]
Cell Talks
Aug 23, 2013 (LBO) – India’s Bharti Airtel is in talks with UAE-based Etisalat to sell its Sri Lanka unit, which is too small to make money in the highly competitive market, a media report said. India’s Economic Times said citing two unnamed sources said Standard Chartered was advising Airtel on the sale and the […]
Suspended
Aug 23, 2013 (LBO) – Fonterra New Zealand said it had temporarily suspended Sri Lanka consumer operations to protect its workers and assets amid nationalist protests and a court order halting sales and distribution.“Fonterra Sri Lanka is currently subject to a court Enjoining Order which has shut down our ability to sell product, advertise it […]
Sri Lanka finds latest New Zealand milk imports free of DCD
Aug 23, 2013 (LBO) – Sri Lanka’s Industrial Technology Institute said stocks of New Zealand milk held at port are free of a chemical contamination according to its tests, and will continue to test other batches of imports.. ITI chief Sirimal Premakumara said dicyandiamide (DCD) contamination was found in two stocks of Anchor branded and […]
”’ rating by Fitch
Aug 23, 2013 (LBO) – Sri Lanka’s Asian Alliance Insurance has been given a ‘B’ insurer financial strength rating with a stable outlook by Fitch. Fitch also gave in a national insurance financial strength and long term credit rating of ‘BBB+(lka)’ with a stable outlook. Fitch expected operational assistance and synergies with its parent Softlogic […]
Sri Lanka external trade expands in June
Aug 22, 2013 (LBO) – Sri Lanka’s exports rose 6.8 percent to 807.4 million US dollars in June 2013 from a year earlier with apparel exports up 14.9 percent to 356.8 million US dollars, official data showed.In the six months to June exports dropped 4.5 percent to 4.66 billion US dollars, imports dropped 5.8 percent […]
Sri Lanka textile mill ups export to Bangladesh, but losses mount
Aug 22, 2013 (LBO) – Kuruwita Textile Mills Plc, a unit of Sri Lanka’s Brandix Apparel group said exports to Bangladesh rose in the June 2013 quarter but losses increased amid cost increases. The firm lost 211 million rupees in the quarter up 355 percent from a year earlier. It reported losses of 8.46 rupees […]
‘s LOLC in talks with international resort chains
Aug 22, 2013 (LBO) – Sri Lanka’s LOLC Leisure, owners of Palm Garden Hotels is in talks with international hotel chains to manage their proposed 475 room hotel, which the firm says will be the largest resort in the country. Jayewardene said the old hotels were removed to make maximize land use and to “develop […]
Smarting
SEOUL, August 21, 2013 (AFP) – News that Samsung will unveil a “smartwatch” next month has sent rumour mills into overdrive within the tech community as it second guesses what the much-hyped gadget will offer. Wearable computing, including Google’s smart glasses, is considered the next frontier in consumer electronics following smartphones. Apple has long been […]
Economic Pulse
Aug 21, 2013 (LBO) – Sri Lanka’s Cargills (Ceylon) Plc, which has interests in retailing, foods and restaurants said profits fell 49 percent to 121 million rupees in the June 2013 quarter amid narrower margins, but said the business environment was improving. Cargills also runs Sri Lanka’s KFC restaurant franchise. The company said prices have […]