Category:
Punished
WASHINGTON, August 2, 2013 (AFP) – Three convicted Somali pirates escaped the death penalty Friday when a US jury sentenced them to life in prison for the high-seas murder of four Americans in the Indian Ocean. Federal prosecutors had sought the death penalty for Ahmed Muse Salad, 25, Abukar Osman Beyle, 20, and Shani Nurani […]
Tele Net
Aug 03, 2013 (LBO) – Profits at Sri Lanka’s Dialog Axiata rose 11 percent to 950 million rupees in the June 2013 quarter, amid forex losses coming from currency depreciation, the company said.At its core mobile unit, revenues grew 12.5 percent to 13.7 billion rupees and profits rose 14.9 percent to 985 million rupees. Dialog […]
Sri Lanka Dipped Products says not causing water pollution
Aug 03, 2013 (LBO) – Sri Lanka’s Dipped Products Plc, a top glove exporter says its factory is not polluting groundwater but production has been halted until further tests are carried out by authorities.The Industrial Technology Institute, National Water Supply and Drainage Board, Geological Survey and Mines Bureau, University of Moratuwa and the University of […]
Sri Lanka Softlogic appoints risk, retail chiefs
Aug 02, 2013 (LBO) – Sri Lanka ‘s Softlogic group said it had appointed two senior executives with domestic and international experience to head the group risk and audit function and its retail unit. After starting at KPMG Ford Rhodes Thornton & Company in 1981 he moved to Singer Industries (Ceylon) Ltd, and moved to […]
Sri Lanka calls auctions to mop up liquidity
Aug 02, 2013 (LBO) – Sri Lanka has called auctions to mop 20 billion rupees overnight and sell 9.5 billion rupees in Treasury bills outright after liquidity spiked due to a debt repayment from central bank credit a day earlier. To the extent that liquidity is left sloshing around in the banking system overnight, the […]
Sri Lanka stocks close flat
Aug 02, 2013 (LBO) – Sri Lanka’s stocks closed flat Friday with losses in the large cap stocks and banking stocks, brokers said. The benchmark Colombo All Share Index closed 0.78 points lower at 6,155.82 and the S&P SL 20 Index closed 13.00 points higher at 3,490.57 up 0.37 percent. Turnover was 399 million rupees. […]
Sri Lanka JKH to raise equity, foreign debt for casino resort
Aug 02, 2013 (LBO) – Sri Lanka’s John Keells Holdings said an 800 million US dollar casino resort project will raise foreign debt and the parent may also make a cash call to invest 240 million US dollars in equity.The project involves an 800 room up market hotel, a convention centre that can hold 2,500 […]
Sri Lanka JKH hotel unit in the red
Aug 02, 2013 (LBO) – Top Sri Lankan hotel operator, John Keells Hotels Plc, slipped into the red in the June 2013 quarter amid a tourism boom losing 102 million rupees, interim accounts showed.The firm reported losses of 7 cents per share for the quarter, compared to earnings of 03 cents on total profits of […]
Sri Lanka Watawala Plantations stake upped by parent
August 02, 2013 (LBO) – Sri Lanka’s Watawala Plantations Plc, which farms tea, rubber and oil palm said its parent Estate Management Services has upped its stake to 74.6 percent. Watawala profits fell sharply in the June quarter as rains hit output and labour costs rose and commodity prices softened. The parent bought 49.3 million […]
Sri Lanka rulers provide more water to protesting villagers
Aug 02, 2013 (LBO) – Elected representatives of Sri Lanka’s Gampaha district met Friday and decided to increase the distribution of water by bowser to villagers who were protesting about tainted water, one whom was shot dead by security forces. Sri Lanka’s economic development minister Basil Rajapaksa had convened a meeting of factions of elected […]
Sri Lanka glove maker hopes to resume production
Aug 02, 2013 (LBO) – Sri Lanka’s Dipped Products, a unit of Hayleys group which exports gloves said it hoped to resume production which stopped Wednesday following protests over claims that it was polluting ground water.The firm did not specify a date to resume operations but said it was working towards an “early settlement”. Dipped […]
Sri Lanka-born top international designer Balmond in JKH resort
Aug 02, 2013 (LBO) – Balmond Studio Limited, a UK-based firm founded by Sri Lanka-born Cecil Balmond has designed John Keells Holding’s 820 million dollar casino resort development, the company said.The second phase involves a 200 unit apartment block and a 400,000 square feet office tower. JKH said its integrated resort will cater to the […]