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Harris stars as Sri Lanka lose first Test
GALLE, September 3, 2011 (AFP) – Fast bowler Ryan Harris claimed five wickets as Australia beat a valiant Sri Lanka by 125 runs in the first Test on Saturday to take the lead in the three-match series. Sri Lanka, who resumed the fourth day at 120-5 chasing an improbable victory target of 379, were dismissed […]
Sri Lanka stocks stagnant
Sep 02, 2011 (LBO) – Sri Lanka’s stock market remained stagnant Friday after two big deals sent indices and turnover up sharply Thursday, brokers said. The main All Share Price Index closed at 6,950.61, down 0.01 percent (0.89 points) while the more liquid Milanka index fell 0.07 percent (4.64 points) to close at 6,297.12, according […]
Port Premium
Sep 02, 2011 (LBO) – The state-run Sri Lanka Ports Authority (SLPA) is to provide medical insurance for its employees with the cost borne by the authority which is hugely overstaffed and lost money last year. The SLPA has signed a deal with the National Insurance Trust Fund (NITF) to provide a “comprehensive Medical Insurance […]
Sri Lanka finds nearly 6,000 elephants in count
Sep 02, 2011 (LBO) – Sri Lanka’s authorities say nearly 6,000 elephants had been found in an island wide census, which was slammed by conservationists as a cover for rulers to identify tusked elephants for capture and domestication. “Out of the total wild elephant population 1107 are calves and juveniles,” minister of agrarian services and […]
‘s Peugeot upbeat about return to India
MUMBAI, September 1, 2011 (AFP) – French auto giant PSA Peugeot Citroen on Thursday signalled its return to India, announcing a new assembly plant in the west of the country as part of wider plans to sell more cars outside Europe. Europe’s second-largest car maker said it had signed a deal with the state government […]
Sri Lanka businesses warn against economic sanctions
Sep 02, 2011 (LBO) – Sri Lanka’s large trade have criticized a report by a UN panel alleging human rights abuses in a civil war that ended in 2009, and warned against international economic sanctions. The panel called for probes in to allegations of war crimes by both sides of the conflict in the latter […]
Sri Lanka stocks up, Dhammika Perera ups Hayleys stake
Sep 01, 2011 (LBO) – Sri Lanka’s stock market closed higher Thursday with big deals by high-net-worth investor Dhammika Perera pushing turnover over eight billion rupees, brokers said. The main All Share Price Index closed at 6,951. 50, up 1.05 percent (72.21 points) while the more liquid Milanka index rose 1. 09 percent (67.94 points) […]
Investment Funds
Sep 01, 2011 (LBO) – Sri Lanka’s Commercial Bank has begun concessionary long term lending from an investment fund created with savings made from tax cuts under a proposal made in the government’s 2011 budget. The statement said state institutions can now borrow direct from local banks instead of being dependent on Treasury borrowings from […]
Sri Lanka JKH in joint venture to build Rs2.90bn business hotel
Sep 01, 2011 (LBO) – Sri Lanka’s John Keells Holdings (JKH) group plans to build a 25 storey, 240-room business hotel in Colombo with an investment of 2. 90 billion rupees in a joint venture with Sanken Lanka. JKH aims to have up to 1,000 business hotel rooms to cater to growing numbers of business […]
Sri Lanka Hayleys buys control of Amaya Leisure
Sep 01, 2011 (LBO) – Sri Lanka’s Hayleys conglomerate has spent 2. 6 billion rupees to buy a 51 percent stake in hotel firm Amaya Leisure owned by Hayleys deputy chairman Dhammika Perera, a stock exchange filing said. The transactions of 24,497,461 Amaya Leisure shares were done in five crossings or off-market private deals by […]
Brand Builder
Sept 01, 2011 (LBO) – Sri Lanka’s Cargills group, which has interests in foods and retailing said it will launch a new biscuit brand after buying a confectionery firm that earlier had a regional market. The firm also has an ice cream brand, Cargills Magic, which it says is now the top dairy ice cream […]
Detention Order
Aug 31, 2011 (AFP) – Sri Lanka on Wednesday used draconian anti-terror laws to detain thousands of Tamil rebel suspects who would have had to be freed when a state of emergency ended after 28 years, an official said. Attorney General Mohan Peiris said President Mahinda Rajapakse invoked regulations under the Prevention of Terrorism Act […]