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Sri Lanka knit fabric maker reduces losses
Feb 05, 2013 (LBO) – Sri Lanka’s Hayleys MGT Knitting said it lost 110 million rupees in the December 2012 quarter down from a loss of 156 million rupees a year earlier.The firm reported a loss of 73 cents per share. For the nine months to December the firm reported a loss of 196 million […]
Sri Lanka hydro generation recovers in November, demand flat
Feb 05, 2013 (LBO) – Sri Lanka’s hydro power generation has doubled in November 2012 on improving rains allowing the utility to cut thermal generation by 25 percent, while demand remained flat, official data shows. Sri Lanka has generated 959 million units of electricity (GigaWatt hours) in November 2012 barely changed from 958 GWh a […]
Doodle Celebration
Feb 04, 2013 (LBO) – Google has helped users in sri Lanka celebrate the country’s Independence Day on 2013 with a ‘Google Doodle’ on its homepage with a stylized lion and three colours found in the national flag. The doodle is visible on the google.lk home page worldwide and google.com pages viewed in Sri Lanka. […]
Sri Lanka President calls for religious harmony
Feb 04, 2013 (LBO) – Sri Lanka’s President Mahinda Rajapaksa called for religious harmony on the island’s Independence Day amid recent violence and rhetoric directed against the island’s Muslim minority by nationalist groups.Bhuddism, which is followed by a majority of the inhabitants of Sri Lanka came to the island from the Indian subcontinent and advocates […]
Midsea Rescue
Feb 03, 2013 (LBO) – Sri Lanka’s Navy has rescued 127 Bangladeshi and 11 Myanmar nationals from a wooden vessel that has been drifting 50 nautical miles off the eastern coast of the island.Sri Lanka’s Navy said 132 males, 03 females and 03 children were taken off an overcrowded wooden vessel and brought to Oluvil […]
Sri Lanka should uphold rule of law, more international scrutiny ahead: UK minister
Feb 03, 2013 (LBO) – Sri Lanka should uphold rule of law and be committed to respect human rights to ensure that a planned Commonwealth summit in the island is well-attended, visiting UK foreign minister Alistair Burt has said.Sri Lanka is expected to host a Commonwealth Heads of Government Meeting (CHOGM), but countries including Canada […]
Small Business
Jan 02, 2013 (LBO) – Sri Lanka’s Credit Information Bureau (CRIB) and World Bank arm International Finance Corporation is boosting credit access to small businesses by making it easier to offer movable assets as collateral. “This initiative will make it easier for small businesses and entrepreneurs with few fixed assets to obtain the financing they […]
Sri Lanka state carrier launches holiday booking engine
Feb 02, 2013 (LBO) – State-run SriLankan Airlines said it launched a booking engine to allow guests to book both hotel accommodation and holidays online through its website. “[W]we place great emphasis on providing our customers with convenient, customised holiday packages,” SriLankan Holidays manager, Gayan Peiris said in a statement. “The booking engine enables them […]
No Visit
Feb 02, 2013 (LBO) – The International Bar Association’s Human Rights Institute (IBAHARI) said visas for a delegation to visit Sri Lanka had been denied by authorities. IBAHARI said the delegation “has been forced to postpone a planned visit to Sri Lanka to assess the rule of law and the independence of the judiciary due […]
Sri Lanka and Luxemburg to avoid double taxation
Feb 02, 2013 (LBO) – Sri Lanka and Luxemburg has signed an agreement to avoid double taxation, the island’s embassy in Brussels said.The agreement will help investments in tourism, business process outsourcing and financial services, which have potential, the embassy said. The deal was signed by the head of Sri Lanka’s mission to the European […]
Sri Lanka to rent underground utility ducts
Feb 01, 2013 (LBO) – Sri Lanka will rent space to telecom companies in conduits pre-laid under roads being rebuilt in the capital Colombo under a modernization program, helping prevent damage to the surface, an official said. Seneviratne said authorities have managed to minimize damage to roads recently re-built in Colombo due to utility connections […]
”s Leasing net down 35-pct in Dec
Feb 01, 2013 (LBO) – Profits at Sri Lanka’s People’s Leasing and Finance, the country’s largest non-bank lender fell 35.8 percent to 534 million rupees in the December 2012 quarter from a year earlier interim accounts show. Deposits from customers rose 42 percent to 12.3 billion rupees. The group reported earnings of 32 cents per […]