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Sri Lanka shares end slightly higher
Mar 19, 2014 (LBO) – Sri Lanka’s shares end 0.07 percent higher with banking and beverages stocks gaining amid strong foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 4.41 points higher at 5,912.05 up 0.07 percent. The S&P SL20 closed 10.58 points higher at 3,225.22, up 0.33 percent. Turnover was 640.97 […]
Sri Lanka target Russian and Ukraine visitors with beach festival
Mar 19, 2014 (LBO) – A beach festival in Bentota in Southwestern Sri Lanka will kick off next week targeting water sports lovers and tourists, particularly those from Russia and Ukraine, officials said. The Bentota Beach Festival will start on March 21. It is organized by the Hawkeyes, the sports arm of Sri Lanka’s Military […]
‘s homing trick stuns scientists
PARIS, March 19, 2014 (AFP) – The Burmese python has a built-in compass that allows it to slither home in a near-straight line even if released dozens of kilometres away, researchers said Wednesday.Capable of growing over five metres (16 feet) long, pythons are among the world’s largest snakes.Although native to South and Southeast Asia, the […]
Maldives probe reports of possible MH370 sighting
NEW DELHI, March 19, 2014 (AFP) – Authorities in the Maldives were probing reports Wednesday that islanders saw a “low-flying jumbo jet” on the day the missing Malaysia Airlines plane vanished.While the islands’ National Defence Force said that no trace of Flight MH370 had been picked up on radar, police and the civil aviation authority […]
Sri Lanka Telecom to develop property holdings
Mar 19, 2014 (LBO) – Sri Lanka Telecom group said it had set up a separate company to develop its “extensive property portfolio” around the country which was unused or or under-used.In 2013, SLT Property Management (Pvt) Ltd (SLTPM) had been incorporated to develop its property holdings. “Given the growing demand for property in Sri […]
Sri Lanka releases rights activists after outcry
COLOMBO, March 19, 2014 (AFP) – Sri Lanka has released two leading rights activists after their detention under strict anti-terrorism laws triggered international condemnation, police and supporters said on Wednesday. Sri Lanka has previously said it needs more time to address issues of accountability and reconciliation after ending the 37-year conflict, which according to UN […]
Sri Lanka shares end weaker
Mar 18, 2014 (LBO) – Sri Lanka’s shares end 0.11 percent lower with food and beverages firm Nestle losing ground amid net foreign selling on the board, brokers said. Carson Cumberbatch closed 5.00 rupees lower at 345.00 rupees and Bukit Darah closed 3.90 rupees higher at 555.00 rupees. Ceylon Tobacco Company closed flat at 1,120.00 […]
‘s Watawala Plantations ends management deal
Mar 18, 2014 (LBO) – Sri Lanka’s Watawala Plantations Plc said a management agreement with Estate Management Services (Pvt) Ltd, its key shareholder has been ended.In Sri Lanka’s commercial tea plantations date back from the British colonial era where third party ‘agency houses’ used to charge management fees on an arm’s length basis. The firm […]
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 […]