Category:
Sri Lanka, Thailand agree on defence cooperation
May 31, 2013 (AFP) – Sri Lanka and Thailand Friday called for enhanced defence and maritime security cooperation to tackle terrorism, President Mahinda Rajapakse’s office said.The two countries agreed to share more intelligence at the start of an overnight visit to Sri Lanka by Thai Prime Minister Yingluck Shinawatra, the presidential secretariat said in a […]
Banking Gains
May 31, 2013 (LBO) – Sri Lanka’s DFCC Bank group has reported net profits of 1.2 billion rupees in the March 2013 quarter, up 63 percent from a year earlier, helped by higher interest income. The group reported earnings of 4.63 rupees per share reporting on accounts filed with the Colombo stock exchange using Sri […]
Retail Woes
May 31, 2013 (LBO) – Odel Plc, a unit of Malaysia’s Parkson Retail Asia Limited, lost 16.3 million rupees in the March 2013 quarter, retreating from a 26. 6 million rupee profit from a year earlier as it was hit by a new value added tax on retailing. The firm reported losses of 9 cents […]
Health Check
May 31, 2013 (LBO) – Profits at Sri Lanka’s Asiri Hospital Holdings Plc, edged up 2.9 percent to 269 million rupees in the March 2013 quarter from a year earlier, helped by non operating gains, accounts showed. In the March 2012 quarter there were 205 million rupees of fair value gains which were absent this […]
Phone Search
SAN FRANCISCO, May 30, 2013 (AFP) – Google revealed Thursday that it has two new sophisticated Android smartphones in the works, one of which will have the unprecedented distinction of being made in the United States. An HTC One smartphone customized to be “Google’s take on Android” will make its US debut on June 26 […]
Indian economy grows at slowest rate in a decade
NEW DELHI, May 31, 2013 (AFP) – India’s economy grew by 5.0 percent in 2012/2013, its slowest annual rate in a decade, in another blow to the corruption-hit government ahead of national elections due by next year, data showed Friday.India’s wholesale inflation, its most widely watched measure, cooled last month to a surprise 41-month low […]
Sri Lanka inflation accelerates to 7.3-pct on power tariff
May 31, 2013 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 7.3 percent in the 12 months to May 2013 accelerating from 6.4 percent in April mostly due a power tariff hike, data from the state statistics office showed. The Central Bank cut interest rates last month despite advice from the International Monetary […]
Sri Lanka and Thailand ink deals on tourism, technology, business
May 31, 2013 (LBO) – Sri Lanka and Thailand inked agreements on tourism, technology, business during a visit by Thai Prime Minister Yinluck Shinawatra to the island, who had bilateral talks with President Mahinda Rajapaksa.Thai deputy Prime Minister Surapong Tovichakchaikul and Sri Lanka’s foreign minister G L Pieris, technology minister Patali Ranawaka inked the deals […]
Sri Lanka 30-year bond sold at 12.5-pct
May 30, 2013 (LBO) – Sri Lanka’s maiden 30-year rupee denominated long bond was sold to yield 12.5 percent at an auction Thursday, the state debt office said.. The debt office which is a unit of the Central Bank offered 2.0 billion rupees of 30 year bonds maturing on June 01, 2043 with a coupon […]
Settlement Freedom
May 30, 2013 (LBO) – Sri Lanka is looking to give the freedom of getting inward payments through Paypal, a cost-effective global remittance and payments system that has helped boost e-commerce in many countries, Central Bank Governor Nivard Cabraal said.“We are looking at it seriously,” Central Bank Governor Nivard Cabraal told LBO. “We have to […]
Europeans give up holiday travel as austerity bites: study
ARIS, May 30, 2013 (AFP) – Fewer Europeans are planning to go away for a summer holiday as economic austerity bites, a new study shows, with levels of foreign vacation travel at their lowest for eight years.No more than 54 percent of Europeans are planning to get away for summer holiday this year, according to […]
Sri Lanka hotel to be re-built by Banyan Tree
May 30, 2013 (LBO) – Sri Lanka’s Beruwala Walk Inn, a unit of Singapore-based Banyan Tree leisure group will re-build a hotel which was washed away in a tsunami in 2004, a top official has said.Banyan Tree gained control of Beruwala Walk in from John Keells Holdings in October 2003 and closed it for refurbishment […]