Category:
Political chaos as Maldives Supreme Court suspends run-off vote
MALÉ, November 10, 2013 (AFP) – Presidential elections in the Maldives were thrown into disarray on Sunday after the Supreme Court suspended a run-off vote, denying former president Mohamed Nasheed the chance to return to power 21 months after he was ousted. Despite growing international concerns over the Indian Ocean atoll nation’s failure to elect […]
Elections chief says Maldives run-off on track
MALÉ, November 9, 2013 (AFP) – The Maldives’ presidential run-off will be held Sunday, but with a five-hour delay, the chief elections commissioner announced as the second-placed candidate asked for more time to prepare.The court has begun hearing the case.Ibrahim says he wants more time to tell his supporters which of the two candidates they […]
Gas Gains
Nov 10, 2013 (LBO) – Profits at Sri Lanka’s Laugfs Gas rose 50 percent to 619 million rupees in the September 2013 quarter from a year earlier, amid easing commodity prices, interim accounts showed. Property and leisure units were in losses. The group reported earnings of 1.60 rupees per share. For the 6-months to September […]
Sri Lanka Tobacco monopoly volumes, revenues drop
Nov 10, 2013 (LBO) – Revenues at Sri Lanka’s Ceylon Tobacco Company dropped in the September 2013 quarter from a year earlier amid multiple tax hikes showing that demand for the addictive product is not as inelastic as earlier envisaged.But the state this time as not been able to gain as much taxes as hoped […]
Troubled Maldives holds make-or-break vote
MALÉ, November 9, 2013 (AFP) – Voting got underway in the Maldives Saturday in its third bid to choose a president and end unrest sparked by the toppling of their first freely-elected leader 21 months ago.“God willing, we will win this election in one round,” he said at a rally in the capital Male. Nearly […]
Sri Lanka Commonwealth Business Forum gets over 1000 participants
Nov 09, 2013 (LBO) – A Commonwealth Business Forum to be held from November 12 to 14 has attracted over 1,100 participants including 500 foreign delegates which will provide exposure to many local businesses, a top trade chamber said. Any Delegate who has not received this access code and password may contact the Ceylon Chamber […]
Sri Lanka stocks close down 0.3-pct
Nov 08, 2013 (LBO) – Sri Lanka stocks fell for the fifth straight day with banking and diversified stocks losing ground amid foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 20.21 points lower at 5,850.26, down 0.34 percent. The S&P SL20 closed 11.21 points lower at 3,232.50, down 0.35 percent. Turnover […]
Credit Status
Nov 08, 2013 (LBO) – Profits at Sri Lanka’s Sampath Bank group fell to 859 million rupees in the September 2013 quarter, down 33 percent from a year earlier, on loan loss charges, interim accounts showed.The group reported earnings of 5.12 rupees per share for the quarter.For the nine months to September the firm reported […]
Tele Status
Nov 08, 2013 (LBO) – Sri Lanka’s Dialog Axiata reported profits of 1.5 billion rupees for the September 2013 quarter, sharply down from a year earlier, when the bottom line was boosted by a one-off item. The group reported pre-tax profits of 1.8 billion rupees, down from 2.4 billion rupees a year earlier, but were […]
Sri Lanka firms have to compete at home to win foreign customers: Chamber Chief
Nov 08, 2013 (LBO) – Sri Lankan firms have to first compete in the home market and win customers to be able to export to foreign buyers, the head of a powerful business chamber in the country said. Suresh Shah, head of Sri Lanka’s Ceylon Chamber of Commerce said to win large foreign markets innovation, […]
Sri Lanka stocks close down 0.6-pct
Nov 07, 2013 (LBO) – Sri Lanka stocks fell for the fourth straight day with diversified stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 35.71 points lower at 5,870.47, down 0.60 percent. The S&P SL20 closed 11.18 points lower at 3,243.71, down 0.34 percent. Turnover was 688.03 million rupees, up […]
Knowledge Sourcing
Nov 07, 2013 (LBO) – Accenture, a multinational management consulting and outsourcing company is teaming up Sri Lanka’s Brandix to provide services focussing on the global apparel retail sector. “This collaboration will have a significant impact in building capability in services for the apparel industry that can be leveraged by Brandix and our clients globally.” […]