Category: Industry
Sri Lanka shut India out of Tri-nations series
HARARE, June 5, 2010 (AFP) – India were shut out of the Wednesday’s Tri-nations final here Saturday when Dinesh Chandimal led Sri Lanka to victory with just 10 balls to spare. India needed a win to stay in the tournament, which would have given them them a slender chance to play in the final on […]
Sri Lanka told India ready for common standards to smoothen trade
June 05, 2010 (LBO) – India is ready to improve access for Sri Lankan goods and services to its markets by creating mechanisms like common standards and recognizing professional certifications, an Indian diplomat said. “Often, it is stated that the FTA did not address non-tariff barriers (NTBs) which restrict market access to India. Of course […]
Vietnam trade delegation visits Sri Lanka
June 05, 2010 (LBO) – A trade delegation from Vietnam headed by the country’s vice trade minister will visit Sri Lanka next week and also form a joint business council with the island’s Ceylon Chamber of Commerce. In the delegation would be representatives from Vietnam National Coal-Mineral Industries group, a mining, exploration mineral trading and […]
Winning Track
June 4, 2010 (AFP) – Megastar Aamir Khan’s hit movie “3 Idiots” is set to sweep the board at the “Bollywood Oscars” in Sri Lanka this weekend, after scooping a string of awards in the technical categories. The film — a coming-of-age comedy about three struggling students at a top engineering college — has been […]
Comedy Hit
June 4, 2010 (AFP) – Megastar Aamir Khan’s hit movie “3 Idiots” is set to sweep the board at the “Bollywood Oscars” in Sri Lanka this weekend, after scooping a string of awards in the technical categories. The film — a coming-of-age comedy about three struggling students at a top engineering college — has been […]
Sri Lanka ERI takes control of fabric manufacturer
June 04, 2010 (LBO) – Sri Lanka’s Environmental Resources Investment, an investment holding company, has bought control of fabric manufacturer South Asia Textile Industries Lanka for 710 million rupees, according to stock exchange filings. The statement said SATL has had “positive results” from its inception and annual sales of 3.6 billion rupees in 2007 and […]
Sri Lankan airline chief calls for fully liberalized skies with India
June 04, 2010 (LBO) – Sri Lanka and India should fully liberalize air services within the two countries, further strengthen links between them and set an example to South Asia, the head of the island’s state-run national carrier said. India then allowed private airlines to fly to Colombo and other South Asian countries. Sri Lankan […]
Retail Foray
June 04, 2010 (LBO) – Two investment companies in Sri Lanka’s Carson group have bought into unlisted Softlogic Holdings as part of a foray into the retail sector seen as having good growth prospects with the end of a war. Ceylon Guardian Investment Trust said it bought a 4. 3 percent stake in Softlogic Holdings […]
Sri Lanka to light up remaining pockets: minister
June 03, 2010 (LBO) – Sri Lanka is to light up the entire island by expanding the national distribution network at a cost of 250 million US dollars over the next two years and providing off-grid solutions to the remotest areas, officials said. The CEB had lined up about 250 million US dollars in local […]
Sri Lanka Kuruwita Textiles back in profit
June 03, 2010 (LBO) – Sri Lanka’s Kuruwita Textile Mills said it returned to profit in the 2010 financial year from losses the year before although a sharp increase in raw material prices caused a loss in the fourth quarter. The firm, which supplies treated fabric to garment manufacturers, made a net profit of 15.6 […]
Film Awards
June 3, 2010 (AFP) – Sri Lanka’s cricket captain Thursday applauded the “courage” of stars attending the annual Bollywood film awards being held this year in Sri Lanka despite a boycott call by the Tamil cinema industry. Kumar Sangakkara said the Bollywood celebrities who have already arrived in Colombo for Saturday’s glitzy Indian International Film […]
Credit Enhancement
NEW YORK, June 3, 2010 (AFP) – Credit rating agencies came under fire for their role in the global financial crisis Wednesday, as US investigators grilled senior industry figures, including mega-investor Warren Buffett. Answering allegations that rating firms helped propel the sale of risky investments that poisoned the global financial system, senior officials from Moody’s […]