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Sri Lankan Airlines leases three A350-900s
Oct 09, 2013 (LBO) – State-run SriLankan Airlines said it had leased three Airbus A350-900 aircraft from US-based International Lease Finance Corporation (ILFC), as part of a re-fleeting program where another four will be bought directly from the manufacturer. “…[W]e believe that this new generation, fuel-efficient aircraft will play a leading role in the airline’s […]
‘s new PM to head to Commonwealth despite boycott call
NUSA DUA, October 7, 2013 (AFP) – Australia’s new prime minister said Monday he would attend a Commonwealth summit next month despite calls for a boycott over the human rights record of host Sri Lanka.The Gambian government announced last week that the former British colony was pulling out of the Commonwealth with immediate effect, saying […]
Rating Report
Oct 05, 2013 (LBO) – Fitch Ratings has confirmed an ‘A-(lka)’ rating by Seylan Bank Plc, with a ‘stable’ outlook.An upgrade of Seylan’s rating would be contingent upon its standalone rating moving above the support-driven rating, by way of significant and sustained improvement in asset quality and provisioning while maintaining other credit metrics in line […]
Sri Lanka close up 0.4-pct, rupee extends gains
Oct 04, 2013 (LBO) – Sri Lanka stocks closed 0.40 percent higher on speculative trades and the rupee strengthened against the US dollar, brokers and dealers said. The benchmark Colombo All Share Price Index closed 23.15 points higher at 5,837.95, up 0.40 percent after reaching an intraday high on 5,849.76 in late trading, provisional data […]
Sri Lanka firms have to change, connect with the world to face the future
Oct 04, 2013 (LBO) – Sri Lankan firms will have to face changes sweeping across the world and by becoming more connected firms can be successful in the future, participants of the business forum in Colombo said. But the current trend was a mixture of modern and traditional values.But ‘Modtradi’ trend will also change. “We […]
Afghanistan qualify for Cricket World Cup
SHARJAH, October 4, 2013 (AFP) – Afghanistan booked their place in the World Cup for the first time on Friday when they swept past Kenya by seven wickets in their final qualifying match.Set a modest 94 to win, Afghanistan, who were playing in the fifth tier of international cricket just five years ago, reached their […]
Sri Lanka rescues Australia-bound boatpeople
COLOMBO, October 4, 2013 (AFP) – Sri Lanka’s navy has rescued 70 would-be illegal immigrants drifting on the high seas in the country’s first detected case of people-smuggling since Australia tightened restrictions on asylum-seekers, officials said Friday.A naval craft picked up the Sri Lankans, including 17 women and 14 children, who had been drifting for […]
Sri Lanka future ready enterprise summit kicks off
Oct 04, 2013 (LBO) – A high level conference on building ‘future ready enterprises’ kicked off in Colombo where over 40 resource persons from Sri Lanka and the region are sharing their knowledge and debate issues.Readers of LBO can participate live by at this link. http://www. “The areas of discussion are not what one commonly […]
Sri Lanka urban price index up 9.7-pct in September
Oct 04, 2013 (LBO) – Consumer prices in Sri Lanka’s urban centres rose 9.7 percent in the 12-month to September slowing from 9.9 percent in August, an index compiled by private citizens showed. The CAL Urban Price Index, compiled by CAL Research, a Colombo based equity research house, fell 1.8 percent in the month with […]
Sri Lanka stocks up, rupee steady
Oct 03, 2013 (LBO) – Sri Lanka stocks closed 0.16 percent higher with speculative interest continuing in troubled Touchwood and the rupee strengthened in intra-day trading, brokers and dealers said. The benchmark Colombo All Share Price Index closed 9.18 points higher at 5,814.80, up 0.16 percent, provisional data showed, after reaching an intraday high of […]
Labour Standard
Oct 03, 2013 (LBO) – The first of seven Sri Lankan flagged ships plying international waters recently received International Labour Organisation certification for meeting the requirements of the Maritime Labour Convention of 2006.It is on charter to Safmarine, a company in the AP Moller-Maersk group and trades on the EURWAF service from Europe to West […]
Sri Lanka to set standards for LED lighting
Oct 03, 2013 (LBO) – Sri Lanka will set standards for energy saving light emitting diode (LED) bulbs, paving the way to end high taxes on the product, an official said. Wickramasinghe said buyers can look at the star rating and compare prices and brands. “A light with higher star rating may be a better […]