Category:
Sri Lanka former war zone gets apparel factory
Aug 05, 2011 (LBO) – Calzedonia Finanziaria of Luxembourg has started building an apparel factory in Sri Lanka’s northern Vavuniya expected to start in October 2011 that will employ 1,500 people when it reaches full capacity. It now employs over 3,000 people to manufacture lingerie and has made total investments of about 45 million dollars […]
‘ complaint
GENEVA, August 4, 2011 (AFP) – Two rights groups said Thursday they have brought to Swiss authorities a criminal complaint against a Sri Lankan diplomat and former general, Jagath Dias, over alleged war crimes. The Swiss attorney-general’s office confirmed that it has received the complaint filed by the Society for Threatened Peoples and TRIAL (Track […]
Sri Lanka stocks flat
Aug 04, 2011 (LBO) – Sri Lankan share prices remained flat for the second straight day with marginal drops in both indices and low turnover, brokers said. East West Properties closed at 21. 50 rupees, up 1.90 with 5.28 million shares done. The main All Share Price Index closed at 6,809. 78, down 0.04 percent […]
Circular Road
Aug 04, 2011 (LBO) – Metallurgical Corporation of China, a Chinese state-run building and engineering firm is to design and build a section of a highway around the capital Colombo that will connect three other expressways now under construction. The Colombo-Katunayake Expressway is to be completed by end of 2012 and the first two phases […]
Port Plants
Aug 04, 2011 (LBO) – The Sri Lankan government has approved the award of contracts for manufacturing plants in a new port in the south where a remaining rock obstacle will be blasted soon to enable big ships to enter. “Port development takes a good 5-10 years to develop. Today we are competing with other […]
Logistics Net
Aug 04, 2011 (LBO) – Profits at Sri Lanka’s Expolanka group, whose key business is in logistics, rose 15 percent to 273 million rupees in the June 2011 quarter from a year earlier, helped by lower interest and taxes, interim accounts showed. Finance costs fell 40 percent to 30 million rupees. The firm raised money […]
Finance Advisory
Aug 04, 2011 (LBO) – Malaysia’s CIMB financial group has formed a joint venture in Sri Lanka to target investors in East Asia as the island’s growth picks up after a 30-year war and opportunities come up in areas including infrastructure, officials said. CIMB Holding group will hold 51 percent of the Sri Lanka venture […]
‘s Citrus Leisure buys travel agency
Aug 04, 2011 (LBO) – Sri Lanka’s listed Citrus Leisure said it had bought a 51 percent stake in Lotus Travel International (Pvt) Ltd, a firm incorporated in 2004 to act as a travel agency, for 612,000 rupees. The filing did not say the travel firm had any operating business. The firm said in a […]
Sri Lanka Heritance Ahungalla wins top culinary awards
Aug 04, 2011 (LBO) – Heritance Ahungalla, an Aitken Spence group hotel has won the top award for the best hotel team and best culinary team overall in Sri Lanka’s Culinary Art 2011, the islands largest food and trade exhibition and competition. Aitken Spence said its hotels had won 145 medals in the competition where […]
Mobile Momentum
Aug 04, 2011 (LBO) – Sri Lankan mobile phone operator Dialog Axiata group said June 2011 quarter net profit was stagnant at 1. 4 billion rupees from a year ago with sales up 8.9 percent to 11 billion rupees. Losses from the group’s television operations were also reduced to 12 million rupees from a loss […]
Sri Lanka Union Assurance net up 21 percent
Aug 04, 2011 (LBO) – Sri Lanka’s Union Assurance said net profits rose 21 percent to 64. 5 million rupees in the June 2011 quarter with gross written premium rising 27 percent to 1.89 billion rupees. The firm reported 86 cents of earnings per share for the quarter and 1. 64 rupees for the six […]
Sri Lanka power firm net up 9-pct on thermal sales
Aug 04, 2011 (LBO) – Sri Lanka’s Hemas Power said profits for the June 2011 quarter rose 9-pct to 86. 8 million rupees with thermal revenues making up for hydro energy generation which was hit by low rainfall. Revenues rose 37 percent to 1,000 million rupees but generation costs rose 51 percent to 885 million […]