Category: Industry
‘s India visit marred by Tamil protests
NEW DELHI, June 9, 2010 (AFP) – Sri Lanka’s President Mahinda Rajapakse on Wednesday began his first foreign trip to influential neighbour India since being re-elected, in a visit that has drawn protests from Indian Tamils. Rajapakse, who was re-elected in January on the back of a resounding victory over Tamil separatists that ended a […]
Sri Lanka Confifi Hotel group gets new board
June 09, 2010 (LBO) – Sri Lanka’s Confifi Hotel Holdings which was taken over by Lanka Orix Leasing Company (LOLC) from former owners the Furkhan family, has appointed a new director board from Wednesday, a stock exchange filing said. LOLC now owns 52 percent of Confifi Hotel Holdings and 25.5 percent of Riverina Hotels. Ishara […]
Sri Lanka overwhelm Zimbabwe in series final
HARARE, June 9, 2010 (AFP) – A dominant Sri Lanka came to within a freak run-out of whitewashing Zimbabwe in the final of the Tri-nations tournament at Harare Sports Club here on Wednesday. The Sri Lankans scored a leisurely 203-1 in 34. 4 overs to win with ease in reply to Zimbabwe’s effort of 199 […]
Taylor century helps Zimbabwe defeat Sri Lanka
HARARE, June 7, 2010 (AFP) – Zimbabwe batsman Brendan Taylor blasted a rapid century at Harare Sports Club to steer his side to an impressive eight wicket win over Sri Lanka in their 50-over international on Monday. This was the last of six Tri-series matches, which included India. The home team, the least fancied of […]
Top Sri Lanka exporter bats for trade deal with India
June 08, 2010 (LBO) – A top Sri Lankan exporter which is already doing business in India has backed the signing of a new deal to further open trade between the two countries, building on an existing ten-year-old agreement. However other exporters have had problems, with individual state taxes hitting them even if national import […]
Northern Reach
June 08, 2010 (LBO) – Sri Lanka’s Nations Trust Bank has opened a branch in the former war zone of northern Jaffna whose economy is reviving with the end of the conflict. The bank said in a statement the branch, its 40th in the island, will provide residents in the north extended banking hours 365 […]
Box Trends
June 08, 2010 (LBO) – Cargo volumes at a Colombo port private terminal run by an associate firm of John Keells Holdings surged 22. 3 percent in May to 175,514 twenty-foot equivalent container units (TEUs) from a year ago, latest data shows. SAGT is part of the transport business of the JKH conglomerate which has […]
Maritime Links
June 08, 2010 (LBO) – Three shipping lines have launched a new container shipping service through Sri Lanka’s Colombo port to carry cargo to east Africa from the Indian sub-continent and the Far East, a statement said. The SLPA said the vessel is expected to do over 1,000 moves per call at the JCT, Colombo’s […]
ICC says Sri Lanka World Cup venues on track
June 7, 2010 (AFP) – Sri Lanka’s new venues for next year’s World Cup are on track but the refurbishment of an existing stadium is behind schedule, the International Cricket Council said on Monday. Sri Lanka, which is co-hosting the tournament with India and Bangladesh, is set to stage 12 matches at the Premadasa stadium […]
Sri Lanka Hemas power to sell preference shares to cut interest bill
June 07, 2010 (LBO) – Sri Lanka’s Hemas Power, a unit of listed Hemas Holdings said it would raise 135 million rupees by selling 11. 5 percent, 5-year preference shares to settle higher cost floating rate debt at a hydro power unit. The firm said the money would be used to settle higher costs loans […]
SriLankan exit this week: Emirates boss
June 07, 2010 (LBO) – Emirates could sign the deal to sell 43. 6 percent of SriLankan, Sri Lanka’s national carrier this week, its president Tim Clarke was quoted as saying in a media report. “I was in Colombo last week to discuss the sale,” Clarke was quoted as saying by Emirates Business, a Dubai […]
Stylish Stock
June 07, 2010 (LBO) – Sri Lankan retailer Odel plans to raise 250. 5 million rupees through an initial public offer, according to a Colombo Stock Exchange statement. The company, a clothing and fashion products retailer, will issue 16.7 million ordinary voting shares at 15 rupees a share with subscriptions opening on July 5, the […]