Category:
Debt Raising
May 11, 2014 (LBO) – Sri Lanka’s Waterfront Properties (Pvt) Ltd, a unit of John Keells Holdings that is building an integrated resort has started raising foreign debt with Standard Chartered being appointed advisor. Standard Chartered Bank had given the first 100 million US dollars, as bridging finance for the first phase of the project, […]
Sri Lanka claims biggest post-war Tiger ammo find
COLOMBO, May 10, 2014 (AFP) – Sri Lanka’s military said Saturday it had unearthed the biggest cache of pistol ammunition buried in the former war zone amid government claims that Tiger rebels are trying regroup.Naval troops found the buried ammunition Friday in the coastal area of Mullaittivu where the separatist Liberation Tigers of Tamil Eelam […]
Chefs to showcase Sri Lanka in international culinary contest
May 10, 2014 (LBO) – Sri Lanka’s participation at Bocuse d’Or, a global culinary competition, is an opportunity to raise the country’s profile as a high quality tourism destination, senior chefs involved in the event said. Fernando said events like these will help Sri Lanka to achieve government set target of 2.6 million tourists by […]
Entertainment
May 10, 2014 (LBO) – Sri Lanka’s Dialog Axiata, a unit of Malaysia’s Axiata group said its pay television business made profits of 132 million rupees in the March 2014 quarter up from a loss of 14 million rupees a year earlier.In 2013, revenues grew 21 percent to reach 3.6 billion rupees the firm said, […]
Tele Margin
May 10, 2014 (LBO) – Profits at Dialog Axiata, Sri Lanka’s largest mobile operator fell 21 percent from a year earlier to 1.25 billion rupees in the March 2014 quarter, amid a rise in expenses, interim accounts showed. The group which also has interests in fixed access and pay television reported earnings of 15.9 cents […]
Lube Moves
May 10, 2014 (LBO) – Malaysia’s Hyrax Oil Sdn. Bhd, will set up a lubricant blending plant in Sri Lanka partnering with state-run Ceylon Petroleum Corporation, which owns the largest fuel distribution network in the country. The joint venture plant with an investment of 9 million US dollars will cater to the local and international […]
Logistics Hub
May 09, 2014 (LBO) – Japan based Sagawa logistics group has bought a 30 percent stake in Sri Lanka’s Expolanka Holdings Plc and official said with the firm expected to take its share up to 51 percent. SG Holdings bought 586 million shares at 10.70 rupees a share Friday. Grouo chief executive Hanif Yusoof said […]
Jail Term
May 09, 2014 (LBO) – A revenue official was jailed for 102 years on 34 counts related to a value added tax refund fraud and fined 12 billion rupees (91 million US dollars) along with several businessmen, a report said.The case involved the fraudulent refunds of value added tax involving amounting to 3.9 billion rupees, […]
‘s March exports up 26-pct, 1Q 15.7-pct: commerce ministry
May 09, 2014 (LBO) – Sri Lanka’s exports rose 26 percent from a year earlier to 1,060 million US dollars in March 2014 with apparels rising 31.9 percent to 454 million rupees, provisional data released by the commerce ministry showed. Tourist arrivals from the area have also gone up. Tea exports rose 19 percent to […]
Nestle Sri Lanka unit says coconut milk exports, profits up
May 08, 2014 (LBO) – Nestle Lanka Plc said profits rose 20 percent from a year earlier to 1.1 billion rupees in the March 2014 quarter with revenue gains helped by exports coconut milk powder.In the March quarter the firm had launched cold beverage vending machines that which dispense Nescafé ice coffee and Nestea ice […]
Sri Lanka shares close up 0.4-pct
May 08, 2014 (LBO) – Sri Lanka’s shares closed 0.37 percent higher for the second consecutive day with index heavy stocks gaining amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 23.13 points higher at 6,275.73 up 0.37 percent. The S&P SL20 closed 12.81 points higher at 3,446.76, up 0.37 […]