Category:
‘s Talawakale Tea profits in the red
Aug 06, 2013 (LBO) – Sri Lanka’s Talawakele Tea Estates Plc said it made a loss of 3.0 million rupees in the June 2013 quarter down from a profit of 26 million rupee a year earlier. The firm reported a loss of 13 cents per share. In the six months to June the firm reported […]
Training Progress
Aug 06, 2013 (LBO) – Lanka BPO Academy, a skills development firm, said it had completed a program for trainers at InfoMate, a provider of outsourced finance and accounting services at Sri Lanka’s John Keells Holdings group.Lanka BPO academy is a training organization which collaborates with local and international partners to provide skills and training […]
Killing Probe
COLOMBO, Aug 6, 2013 (AFP) – Sri Lanka’s opposition Tuesday demanded an international investigation into a deadly army crackdown on villagers who were demonstrating against contaminated water supplies.The United National Party (UNP) criticised the army’s plans for an internal military probe into the death of three civilians and wounding of 50 others during a protest […]
Tele Group
Aug 06, 2013 (LBO) – Profits at Sri Lanka Telecom group dropped 10 percent to 713 million rupees in the June 2013 quarter from a year earlier, and firm said it was continuing to invest in new technology to meet customer needs. The group reported earnings of 1.60 rupees for the quarter interim accounts filed […]
Bangladesh denies plan to take over Grameen
DHAKA, August 6, 2013 (AFP) – Bangladesh denied on Tuesday that it plans to take control of pioneering microlender Grameen Bank which has lifted millions of people out of poverty. The statement by a government spokesman came ahead of the release of a report by a commission expected to recommend that the government increase its […]
‘s rupee hits record low against dollar
MUMBAI, August 6, 2013 (AFP) – India’s rupee plunged to a fresh record low against the dollar Tuesday over concerns that foreign capital could flow back to the United States as the American economy picks up.The rupee, Asia’s worst-performing major currency this year, hit 61.35 against the greenback in morning trade, below its previous low […]
Sri Lanka deficit to move down with lower rates, PPPs: CB Governor
Aug 06, 2013 (LBO) – Sri Lanka’s budget deficit will narrow and debt will slow with falling domestic interest rates and public private partnerships in infrastructure, Central Bank Governor Nivard Cabraal said. “We will see a huge reduction in interest costs,” Cabraal told a sovereign and banking forum organized by Fitch. In 2014 the budget […]
Sri Lanka stocks close down 0.7-pct
Aug 05, 2013 (LBO) – Sri Lanka’s stocks closed down 0.68 percent Monday with losses in the large cap stocks and banking stocks, brokers said. The benchmark Colombo All Share Index closed 0.68 points lower at 6,114.18 and the S&P SL 20 Index closed 19.10 points lower at 3,471.47 down 0.55 percent. Turnover was 288 […]
Mega Hub
Aug 05, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa declared open a new container terminal Tuesday, making Colombo the only port in South Asia that can handle the Triple E class large container ships. President Rajapaksa said building ports was part of his five hub strategy, after formally commissioning the loading of a CMA-CGM […]
Shipping Hub
August 05, 2013 (LBO) – Sri Lanka can become a shipping hub with the opening of the 500 million US dollar port Monday which will help secure maritime supply routes, a senior official said. “Sri Lanka has a window of opportunity to get into and become a shipping hub with the opening of the new […]
‘s Education
August 05, 2013 (LBO) – Sri Lanka’s public sector dominated education sector needs more private partnerships Asian Development Bank country director, Rita O’Sullivan said. Resource persons include IMF’s Sri Lanka resident representative Koshy Mathai, Lloyd Fernando, Indrajit Aponsu, W A Wijewardena, Saman Kelegama, Uditha Liyanage and Rohan Perera. “There is a need to invest in […]
Sri Lanka Crown casino project told to shift: report
Aug 05, 2013 (LBO) – A 350 million US dollar proposed casino resort has been told to shift or change its design so that a lake can be seen through the project, a media report said.The land was recently transferred to the project on a long-term lease but the report said had been first given […]