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Sri Lanka invited to invest in textiles in Uganda, funds training centre
May 13, 2013 (LBO) – Sri Lanka has been invited to invest in textile plants in Uganda an exporter of cotton, where the companies from the island are already building mini hydro plants, during a state visit by President Mahinda Rajapaksa.Talks with Uganda’s President Yoweri Museveni had focused on agriculture, energy and trade, Sri Lanka’s […]
Bunker Edge
May 13, 2013 (LBO) – Bunker fuels sold from Sri Lanka’s ports was of higher quality with less particles that damage engines on average than even Singapore but prices have to fall to be more competitive, industry officials said. As states set standards for lower sulfhour content, cat fines, or hard aluminum and silicone dioxide […]
‘s Taj unit profits up, revenues down
May 12, 2013 (LBO) – Profits at Taj Lanka Hotels Plc, a unit of India’s Taj Hotels and Resorts rose 228 percent to 24.8 million rupees in the March 2013 quarter from a year earlier helped by as absence of forex losses, but revenues weakened. The firm reported earnings of 19 cents per share for […]
Sri Lanka Singer profits halve in slow sales, high interest
May 12, 2013 (LBO) – Profits at Singer (Sri Lanka) Plc, a consumer durables retailer fell 51 percent to 174 million rupees in the March 2013 quarter from a year earlier, as interest costs rose and sales slowed. The group reported earnings of 1.40 rupees per share for the quarter. Gross revenues were flat at […]
Sri Lanka in bid to boost Middle Eastern visitors
May 12, 2013 (LBO) – Sri Lanka has promoted wildlife and natural assets in the Arabian Travel Mart in Dubai this month as part of a drive to grow Middle Eastern visitors 60 percent to 90,000 in 2013, the state tourism office said.It is also best part of the year for beach tourism in the […]
‘s Veyangoda town to get US$2.6mn hotel
May 11, 2013 (LBO) – A 2.6 million US dollar ‘eco-friendly’ hotel will be built in Veyangoda town, Sri Lanka’s state investment promotion agency said.Coco Agro Hotels (Pvt) Ltd plans to build a 4-star class hotel with a 700-person conference centre which they expect to complete in 2014, the Board of Investment, which gives tax […]
Connection
May 11, 2013 (LBO) – Sri Lanka Telecom said it had provided telecom facilities to Mattala Rajapaksa International Airport for all services and commercial partners to operate effectively. “We assure MRIA of our utmost commitment to provide the highest quality and most reliable services always,” Kiththi Perera, head of SLT’s enterprise and wholesale business said […]
‘s President Rajapaksa on state visit to Uganda
May 11, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa has begun a four day trip to Uganda arriving at Entebbe International Airport accompanied by a business delegation, his office said. President Rajapaksa is due to have talks with President Yoweri Museveni, and attend a Commonwealth conference on local government. He will also visit a […]
Innovation part of corporate DNA: 3M regional chief at Sri Lanka forum
May 11, 2013 (LBO) – Listening to the unarticulated voice of the customers of 3M has helped the firm drive innovation, which is central to its corporate culture, a top regional official of the US-based multi-national said in Colombo. The company makes more than 55,000 products are year, adding new ones continuously. “It’s easy if […]
Sri Lanka stocks close up 0.18-pct
May 10, 2013 (LBO) – Sri Lanka’s stocks closed up 0.18 percent on Friday helped by retail and institutional buying, brokers said. The benchmark Colombo All Share Index closed 11.29 points higher at 6,250.00 up 0.18 percent and the S&P SL 20 Index closed 04.39 points higher at 3,530.90 up 0.12 percent. Turnover was 1.4 […]
Rising Sun
May 10, 2013 (LBO) – Sri Lanka’s Pan Asia Bank said it was in a strong position to boost investments from Japan with Tokyo-based Bansei Securities, also becoming a shareholder.“Pan Asia Bank with its strong understanding of Japanese investor concerns has been playing a pivotal role in securing and executing several large scale investment activities […]
Emerging
By Arun Perera May 10, 2013 (LBO) – Samsung hopes to double phone sales in Sri Lanka in 2013 to one million handsets with smart phones making up 40 percent of the total, official said. “We have seen a growth in the mobile market of Sri Lanka and the market is adapting to smartphones, especially […]