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‘s Textured Jersey exports technical services to India
Nov 07, 2013 (LBO) – Sri Lanka based Textured Jersey Lanka Plc said it would provide technical services to Ocean India Private Ltd, a knit fabric maker in India.The firm provides fabrics to produce apparel for top European and US labels. The company entered a two year technical services agreement for a fee of 780,000 […]
Sri Lanka exporters look for growth
Nov 07, 2013 (LBO) – Sri Lankan exporters will have to be closer to global supply chains and develop more innovative products, but local rules were also hindering exports, economists and industry officials said. “We are welcome organized policies from groups or forums rather than from individuals. Because for us in the government, it is […]
Sri Lanka can boost investment profile at CHOGM: Standard Chartered
Nov 07, 2013 (LBO) – Sri Lanka can boost its investment profile at a Commonwealth Head of Government meet this month, Standard Chartered Bank, one of the principal sponsors of a business forum associated with the event said.“Sri Lanka needs to showcase itself to the external world,” Anirvan Ghosh Dastidar, chief executive of the Standard […]
Sri Lanka Treasuries yields ease
Nov 06, 2013 (LBO) – Sri Lanka’s Treasuries yields eased at Wednesday’s auction extending falls seen since a rate cut on October 15, with the 6-month yield down 6 basis points to 8.94 percent, data from the state debt office showed. The 12-month yield fell 01 basis point to 9.82 percent, despite 14.6 billion rupees […]
Sri Lanka stocks close lower
Nov 06, 2013 (LBO) – Sri Lanka stocks fell for the third straight day banking stocks losing ground, despite strong foreign purchases, brokers said. Bukit Darah closed 5.40 rupees higher at 685.60 rupees and Dialog closed 10 cents higher at 9.10 rupees. Cargills Ceylon closed 2.60 rupees lower at 145.40 rupees and Nestle Lanka closed […]
‘s MAS Active gets IFC trade finance
Nov 06, 2013 (LBO) – International Finance Corporation, a World Bank arm said it had given a supplier finance credit line to MAS Active, a top Sri Lanka based apparel exporter. MAS will get credit against receivable due from selected international buyers, IFC said. “In the fast-changing globally competitive apparel industry, suppliers like MAS need […]
‘s Hayleys MGT Knitting Mills turns around
Nov 06, 2013 (LBO) – Sri Lanka’s Hayleys MGT Knitting Mills Plc, a knit fabric maker said it had turned around with a profit of 164,000 dollars in the September 2013 following a management shake-up and new business. The firm reported profits 0.1 cents (US dollars) per share for the quarter. In the six months […]
‘s LB Finance to sell Rs2.0bn in debt
Nov 05, 2013 (LBO) – Sri Lanka’s LB Finance Plc, is planning to sell 2.0 billion rupees of listed debt, the Colombo Stock Exchange said.The CSE said it had approved an application by LF Finance to offer 10 million debentures of 100 rupees each and a further 10 million if the first tranche is oversubscribed. […]
”s RIU
Nov 05, 2013 (LBO) – Sri Lanka’s Aitken Spence group said it is building a 100 million US dollar 500-roomed luxury hotel with RIU Hotels, a Spanish chain as a partner. Aitken Spence deputy chairman Rajan Brito said the hotel will be completed when an expressway in the south of the island is extended to […]
‘s The Kingsbury out of red
Nov 05, 2013 (LBO) – Sri Lanka’s The Kingsbury Plc, a city 5-star hotel said it made profits of 26 million rupees in the September 2013 quarter, re-starting operations after going through a make-over. In the first week of September The Kingsbury raised 660 million rupees from shareholders in September. The firm reported earnings of […]
Fears
COLOMBO, November 4, 2013 (AFP) – A media rights group Monday expressed fears for the safety of journalists in Sri Lanka after Colombo grilled two Australian activists and seized computer data before kicking them out.The Free Media Movement (FMM) said it expected a crackdown by the authorities following last week’s questioning of the two International […]
India mission to Mars blasts off successfully
NEW DELHI, November 5, 2013 (AFP) – India’s first mission to Mars blasted off on Tuesday as the country aims to become the only Asian nation to reach the Red Planet with a programme showcasing its low-cost space technology.A study of data from Curiosity published in September found the rover had detected only trace elements […]