Category:
Retail Challenge
June 06, 2013 (LBO) – Profits at Sri Lanka’s Cargills (Ceylon) Plc, fell 58 percent to 123 million rupees partly due to a retail tax and higher interest costs on new investments but the group said it was taking counter measures.Cargills reported earnings 55 cents per share for the quarter, in accounts filed with the […]
Favored Nations
June 05, 2013 (LBO) – Sri Lanka has been included in a list of exempt countries released by the United States on sanctions imposed on crude oil purchases from Iran, a media report said. The US administration ruled that the economies concerned had taken steps to reduce imports of Iranian oil, so their financial institutions […]
‘s Treasuries yields ease
June 05, 2013 (LBO) – Sri Lanka’s Treasuries yields eased at Wednesday’s auction with the 6-month yield falling as much as 09 basis points to 9.81 percent, data from the state debt office showed.The 3-month yields fell 03 basis points to 8.70 percent and the 12-month yield fell 01 basis point to 10.85 percent. The […]
‘s Sri Lanka unit to target China and India: JV partner
June 5, 2013 (LBO) – A luxury hotel with Australian casino magnate James Packer’s Crown group targeting Indian and Chinese high rollers may need an investment of up to 400 million US dollars, its Sri Lanka partner said. He said the hotel will have a shopping mall and restaurants with specialist chefs. Wijeratne’s Rank Entertainment […]
’s Cantaloupe Aqua feted by Agoda.com and TripAdvisor
June 05, 2013 (LBO) – Cantaloupe Aqua, a private resort in Thalpe, in Sri Lanka’s Southern coast said it had been recognized by Trip Advisor, a travel review site and Agoda.com, an online booking system for two years running based on user responses. The resort had received a ‘gold circle’ award from Agoda.com and a […]
Sri Lanka tourism destination marketing critical: leisure groups
Jun 05, 2013 (LBO) – Sri Lanka’s transport infrastructure is being built but the country is badly in need of destination marketing, a top leisure groups have said as higher end hotel saw lower occupancy.In December 2012, occupancy at Sri Lanka’s 5-star rated hotels dropped to 81.9 percent from 95.7 percent and at 4-star hotels […]
Sri Lanka economic forum to focus on export growth
June 05, 2013 (LBO) – An annual economic policy forum with the participation of businesses, academics and state officials this year will focus on strategies needed to boost the island’s flagging exports, its organizer, Ceylon Chamber of Commerce said.Sri Lanka’s exports fell 18.2 percent to 726.7 million US dollars in January 2013 from a year […]
Sri Lanka stocks close flat
June 04, 2013 (LBO) – Sri Lanka’s stock closed flat Tuesday with investors continuing to take profit and losses in some index heavy stocks like JKH, DIST and NEST, brokers said. Softlogic Holding closed at 11.40 rupees down 30 cents and Vallibel One closed at 19.10 rupees down 60 cents. Sri Lanka Telecom closed at […]
Port Call
June 04, 2013 (LBO) – Sri Lanka’s Hambantota Port has drawn about a billion US dollars in investments in a second call for investors, the state port agency chairman Priyath Wickrama said. Eleven manufacturing and processing for export industries with combined value of a billion US dollars had been selected by a cabinet appointed negotiations […]
‘s Nilaveli Beach gets Trip Advisor accolade
June 04, 2013 (LBO) – Nilaveli Beach Hotel in Trincomalee in Sri Lanka’s Eastern coat said it had been recognized by Trip Advisor, a travel review site for two years running based on user responses.The Trip Advisor Certificate of Excellence is given only to the top 10 percent of businesses listed on the site, the […]
National Link
June 04, 2013 (LBO) – Sri Lanka Telecom, the island’s sole wireline operator which also has mobile and video services, said it had been formally licensed to operate a national backbone with its fibre-optic network. Other operators are also given access to the National Backbone Network (NBN). “SLT’s network is ready with the necessary flexibility, […]
Price Fix
NEW YORK, June 3, 2013 (AFP) – A US government lawyer accused Apple Monday of concocting a deliberate scheme to fix prices of electronic books as the antitrust trial against the tech giant got underway. “Apple knowingly and intentionally committed to a common scheme of publishers to raise prices,” Justice Department attorney Lawrence Buterman told […]