Category:
Digital Commerce
Feb 18, 2014 (LBO) – Every day we are moving closer to having almost as many mobile subscribers as there are people on earth. Close to 40 percent of the world’s population arenow ˜online’ and some 750 million households globally are connected to the internet. New devices and platforms such as smartphones are constantly shaping; […]
Sri Lanka lubricant market stagnant in 2013: Chevron
Mar 18, 2014 (LBO) – Sri Lanka’s lubricant market is estimated to have stagnated or contracted further in 2013, on top of a decline in 2012, Chevron’s unit in the island said while cautioning against state attempts to expand trade freedoms of the people. Anti-Competitive The firm spoke out against state moves to relax a […]
Argentina downgraded amid money printing, currency depreciation, inflation
WASHINGTON, March 17, 2014 (AFP) – Moody’s lowered its credit rating for Argentina by one step Monday, citing a sharp fall in the country’s reserves and inconsistent economic policies.The fresh blow to the country came as Buenos Aires reported that prices rose 3.4 percent in February over January, taking the annual inflation pace to more […]
Sri Lanka stocks up 0.3-pct,turnover four year low
Mar 17, 2014 (LBO) – Sri Lanka’s stocks end 0.3 percent higher partly reversing the last week’s losses with turnover dropping to a near five-year low, brokers said. The Colombo benchmark All Share Price Index closed 17.88 points higher at 5,914.11 up 0.30 percent. The S&P SL20 closed 6.31 points higher at 3,213.42, up 0.20 […]
Vehicle Trend
Mar 17, 2014 (LBO) – Sri Lanka’s vehicle registrations have dropped to 23,130 units in February 2014, the lowest since April 2010, with a sharp drop in commercial vehicles, an analysis by an equities research house shows.Sri Lanka is recovering from a balance of payments crisis triggered by loans taken from state-run banks by utilities […]
Military Chief
Mar 17, 2014 (LBO) – Former Sri Lanka Air Force chief Air Chief Marshal Harsha Abeywickrema has assumed duties at chairman of state-run Bank of Ceylon.Bank of Ceylon is Sri Lanka’s largest bank by assets. Bank of Ceylon said Abeywickrema joined the Air Force in 1980 as an officer cadet and was commissioned Pilot Officer […]
Toyota suspends Indian auto production amid labour unrest
TOKYO, March 17, 2014 (AFP) – Toyota said Monday it has suspended production at its two Indian auto assembly plants in response to threats against management and “deliberate” assembly-line stoppages, as efforts to hammer out a labour deal failed.A Tokyo-based company spokesman said Toyota hoped to restart production quickly, but could not give a timeline […]
Sri Lanka arrests rights activists ahead of UN meeting
COLOMBO, March 17, 2014 (AFP) – Sri Lanka has arrested two leading rights activists including a Catholic priest under anti-terrorism laws, police and campaigners said Monday, ahead of an expected UN censure later this month.Father Praveen Mahesan, head of the Peace and Reconciliation Centre in the war-torn Jaffna region, and Ruki Fernando of the Colombo-based […]
Sri Lanka GDP grows 7.3-pct in 2013, 8.2-pct in 4Q: census dept
Mar 17, 2014 (LBO) – Sri Lanka’s gross domestic product grew 7.3 percent in 2013 with the economy estimated to have grown 8.2 percent in the fourth quarter from a year earlier, the state statistics office said. For the full year, agriculture grew 4.7 percent, industry 9.9 percent and services 6.4 percent. Sri Lanka is […]
Sri Lanka US$10mn warehouse by Glowbal Outlet Stores
Mar 17, 2014 (LBO – A 10 million US dollar warehouse and logistics centre will be set up in Sri Lanka by Glowbal Outlet Stores, a firm founded by Canadians of Lebanese origin, the state investment promotion agency said.Ramzey Hammound president of Glowbal Outlets and Board of Investment of Sri Lanka chairman Lakshman Jayaweera had […]
India suspends search for plane, awaits new instructions
NEW DELHI, March 16, 2014 (AFP) – India on Sunday suspended its search for Malaysia Airlines flight 370 around the remote Andaman and Nicobar Islands and in the Bay of Bengal and is awaiting a new request from Malaysia, a defence official said.“The entire operation is on hold for now. We are awaiting fresh instructions […]
‘s Sangakkara to quit T20 after world meet
COLOMBO, March 16, 2014 (AFP) – Sri Lanka’s Kumar Sangakkara will retire from Twenty20 internationals after the ongoing World T20 in Bangladesh, the veteran left-hander told a newspaper on Sunday, The 36-year-old said he wanted to make way for younger players in the national team, but made himself available to play the shortest format in […]