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Sri Lanka rice gifted to Somalia
Oct 23, 2011 (LBO) – Sri Lanka has gifted 250 metric tonnes of rice to Somalia as domestic production increased, economic development minister Basil Rajapaksa said. This year no rice has been imported to the country, Rajapaksa told an ‘investor’s day’ in Colombo Saturday. “Our paddy stores are now full,” Rajapasksa said. “We have three […]
Sri Lanka GSP benefits extended by US
Oct 22, 2011 (LBO) – President Barak Obama has signed a law extending temporarily halted generalized system of preferences (GSP) trade concessions to Sri Lanka till July 31, 2013 the US embassy said. More information could be found at the Customs and Border Patrol website, the embassy said. The concessions will become effective from November […]
First Pakistan-Sri Lanka Test drawn
ABU DHABI, October 22, 2011 (AFP) – The first cricket Test between Pakistan and Sri Lanka ended in a draw at Abu Dhabi stadium on Saturday after Kumar Sangakkara hit a match-saving 211 in his team’s total of 483. Prasanna Jayawardene scored 120. The second of three Tests starts in Dubai on October 26. Scores: […]
Ton-up Sangakkara keeps Pakistan on bay in first Test
ABU DHABI, October 21, 2011 (AFP) – Kumar Sangakkara put his wealth of experience on show with a pugnacious unbeaten hundred to keep Pakistan’s victory bids on hold in the first Test here on Friday. Walking into bat after Sri Lanka lost opener Tharanga Paranavitana off the very first ball of their second innings on […]
Sri Lanka Tamil Tigers jailed by Dutch court
THE HAGUE, October 21, 2011 (AFP) – Five members of Sri Lanka’s Tamil Tigers were on Friday jailed for between two and six years for having sent millions of euros gathered illegally in the Netherlands to the rebel group. The men, all of them Dutch nationals, were convicted of having raised money mainly through illegal […]
Sri Lanka stocks end up 1.2-pct
Oct 21, 2011 (LBO) – Sri Lankan stocks closed higher in thin trade Friday, ending a slide of several days, amid speculation over the removal of a senior official in the markets regulator which has cracked down on manipulators, brokers said. The sole crossing or off-market private deal was 300,000 Commercial Bank non-voting shares at […]
Bank Expansion
Oct, 21, 2011 (LBO) – India’s Axis Bank has opened a branch in Sri Lanka’s capital Colombo eying the island’s growing trade and domestic financing business, the lender said. The Colombo branch was opened by Sri Lanka’s central bank governor Nivard Cabraal, the banks said. Axis Bank had 1,456 branches across India in 953 cities […]
Cash Track
Oct 21, 2011 (LBO) – HSBC launched a cash collection and management service which is useful for for companies that have large numbers of clients who make regular payments, officials said. HSBC’s ‘virtual account’ service allows a company to collect and track receivables based on a client identity tag. “This is useful for utility companies, […]
Fashion Statement
Oct 21, 2011 (LBO) – Sri Lankan fashion retailer Odel’s group net profit for the six months to September 30, 2011 rose 21 percent to 122 million rupees from a year ago driven by higher sales from existing stores and new ones. A note to the accounts said Otone (Pvt) Ltd, a fully owned subsidiary […]
Sri Lanka flight academy opens with simulator
Oct 21, 2011 (LBO) – State-run Sri Lankan Airlines has opened a flight academy commissioning its first Dutch built flight simulator for Airbus A320 aircraft as it ramps up activity as part of the island’s ambitions to become a regional aviation hub. It already has an engineering unit that is attracting third party work. “Today, […]
Atapattu confident Sri Lanka can save Test
ABU DHABI, October 20, 2011 (AFP) – Sri Lanka batting coach Marvan Atapattu insisted on Thursday that his team can save the first Test, despite being punished by a rampant Pakistan batting line-up. Atapattu said the pitch was not conducive for batting initially after Pakistan captain Misbah-ul Haq put them in. “The outfield is not […]
Sri Lanka to improve local government taxation, licensing
Oct 21, 2011 (LBO) – The Asian Development Bank has given Sri Lanka a 59 million US dollar loan to ensure balanced regional development that includes modernising local government taxation, licensing, and approval rules. The ‘Pura Neguma’ Local Government Enhancement Project to be implemented with ADB loan funds is scheduled to be completed by June […]