Category:
Sri Lanka war ravaged rice mill gets ILO help
Aug 10, 2011 (LBO) – The International Labour Organization is helping a co-operative society in northern Sri Lanka rebuild a war-damaged rice mill, which will process paddy produced by 2,000 farmers in the area. The mill in Nadunkerni, Vavuniya, can process 4,000 metric tonnes of paddy (unhusked rice) a year, creating 20 jobs. The ILO […]
Sri Lanka Bairaha June net down 47-pct
Aug 10, 2011 (LBO) – Sri Lanka’s Bairaha Farms, a poultry group said net profits fell 47 percent to 55. 1 million rupees in the June 2011 quarter with revenues down 01 percent to 565 million rupees. The firm reported earnings of 3. 45 rupees per share for the quarter. Sri Lanka’s poultry stocks have […]
Sri Lanka wildlife groups boycott elephant census
Aug 10, 2011 (LBO) – Sri Lankan conservation groups are boycotting an elephant census, and called on the private sector not to support the effort, after a government minister revealed plans to capture up to 300 calves with tusks for domestication. Agrarian and wildlife minister S M Chandrasena was reported as saying that the survey […]
Indian minister says confidence returns to market
NEW DELHI, August 10, 2011 (AFP) – Confidence has returned to India’s share market after it plunged to a 14-month low on the back of the latest global financial turmoil, the country’s finance minister said Wednesday. India’s benchmark Sensex index of 30 leading shares soared nearly 400 points in early trade as part of a […]
Sri Lanka youth invited to attend World Bank annual meet
Aug 10, 2011 (LBO) – The World Bank has called Sri Lankans between the ages of 18 to 25 to apply to attend the lender’s annual sessions in Washington in September as ‘youth delegates’ and also interact with counterparts in the region. The World Bank and the International Monetary Fund are having their annual sessions […]
Fed promise to print money sends oil, equities soaring
SINGAPORE, August 10, 2011 (AFP) – Crude futures soared in Asian trade Wednesday, mirroring Asian equities markets encouraged by the US Federal Reserve’s two-year commitment to keep interest rates low, analysts said. Growth was also expected to be at a “somewhat slower pace” over the coming quarters, the Fed’s Open Market Committee added, as “downside […]
Tele Profits
Aug 09, 2011 (LBO) – Sri Lanka Telecom, the island’s only wireline operator which also has a mobile unit, said its June 2011 quarter profits rose 49 percent to 1,142 million rupees with revenues flat at 12. 4 billion rupees. The group reported earnings of 63 cents per share for the quarter and 1.35 rupees […]
Tele Status
Aug 09, 2011 (LBO) – Sri Lanka Telecom said 19 labour unions are engaged in trade union action but services to customers are being maintained. Union leaders meanwhile have made statements against SLT Manpower, a new unit, saying that workers recruited through the firm are being paid lower salaries. The firm said in a stock […]
Sri Lanka to start seaplane flights to Arugam Bay
Aug 09, 2011 (LBO) – State-run SriLankan Airlines said it would start floatplane flights to the Arugam Bay, an internationally popular surfing hotspot in Sri Lanka’s eastern coast while bad weather has curtailed flights to the island’s central hills. SriLankan Airlines’ air taxi service operates scheduled flights to Polgolla in Kandy, Bentota, Koggala and Dikwella […]
‘s HNB Assurance June net steady
Aug 09, 2011 (LBO) – Sri Lanka’s HNB Assurance, a unit of listed Hatton National Bank said profits in the June 2011 quarter rose 2 percent to 24.6 million rupees with strong premium growth despite lower investment income. Managing director Manjula de Silva said revenue growth came from a hike in premiums and stronger sales […]
Sri Lanka Aviva returns to profit in June
Aug 09, 2011 (LBO) – Sri Lanka’s Aviva NDB Insurance earned profits of 34 million rupees in the June 2011 quarter returning from a loss of 46 million rupees a year earlier, with revenues growing from unit linked products, interim accounts show. The profits came despite lower investment income. Gross written premium from life and […]
Oil Status
VIENNA, August 9, 2011 (AFP) – The OPEC group of petroleum exporting countries slightly lowered its forecast Tuesday for 2011 and 2012 crude oil demand, citing concerns for the economic health of developed countries. “Should the situation see further deterioration in the US, then aggregate oil demand will see a further decline this year,” said […]