Category:
India GDP figures set to show growth above 8%
NEW DELHI, May 30, 2011 (AFP) – India is expected to post economic growth of more than eight percent when it reports data for the fiscal fourth-quarter on Tuesday, despite a series of rate hikes that have hit industrial output. Asia’s third-largest economy is estimated to have expanded 8.2 percent from a year earlier in […]
Sri Lanka welfare spending seen helping raise support for war
May 31, 2011 (LBO) – A government fertiliser subsidy given to farmers was a key factor in generating public support for Sri Lanka’s military campaign that defeated Tamil Tiger separatists, a defence official said. The Indian and Sri Lankan governments maintained close ties and clear communications lines at the highest levels that ensured any issues […]
Sri Lanka promises to keep calm and carry on
CARDIFF, May 31, 2011 (AFP) – Sri Lanka captain Tillakaratne Dilshan said there was no point in reading the riot act after a stunning collapse to 82 all out saw his side lose the first Test against England. A rain-affected match appeared destined for a draw after England declared their first innings on 496 for […]
Oil Trend
May 31, 2011 (LBO) – Lanka IOC, the Sri Lanka unit of Indian Oil Corporation lost 111 million rupees in the March 2011 quarter, on revenues of 16. 2 billion rupees, an analysis of audited accounts released to the Colombo stock exchange shows. Lanka IOC raised its diesel prices nine rupees above the competitor, state-run […]
Sri Lanka shares becalmed
May 30, 2011 (LBO) – Sri Lankan shares ended flat Monday with active trade in newly listed The Multi Finance Company and Capital Development and Investment Company, brokers said. Singer Sri Lanka went up 16.30 rupees or 14.19 percent to end at 131.2 rupees. There were three crossings of a total of 530,000 shares all […]
Maritime Links
May 30, 2011 (LBO) – A passenger vessel that can carry up to 1,044 people is to be used to launch a transport service between Sri Lanka’s Colombo port and the south Indian harbour of Tuticorin. The ‘Scotia Princess’ ferry will initially do two voyages a week, said Classic Travels, a subsidiary of Expolanka Holdings, […]
Shipping Costs
May 30, 2011 (LBO) – Sri Lanka’s Mercantile Shipping lost 38 million rupees in the March 2011 quarter through revenues rose 22 percent to 197 million rupees, according to interim accounts. Last year Mercantile Shipping warned shareholders that despite taking delivery of new vessels international charter rates were depressed in the near term. For the […]
Sri Lanka CIC agro firm annual net up 58-pct
May 30, 2011 (LBO) – Sri Lanka’s CIC Holdings group said net profit for the financial year to March 2011 rose 58 percent to 929 million rupees from a year ago driven mainly by its agriculture and livestock business. Sales rose 27 percent to 21 billion rupees, the company said in a stock exchange filing. […]
Sri Lanka rubber plantation profits up
May 30, 2011 (LBO) – Sri Lanka’s Kegalle Plantations, which gets most of its revenues from rubber, said profits rose 14 percent to 270 million rupees with revenues growing 30 percent to 900 million rupees. Tea is a most labour intensive crop compared with rubber or coconut. The firm was charged 197 million rupees in […]
”’ seminar skipped by key nations
May 30, 2011 (AFP) – Sri Lanka is to hold an international seminar starting Tuesday to share lessons on its bloody defeat of Tamil rebels, but major nations have declined to send delegations amid war crime allegations. The island’s government said the massive military offensive that finally defeated the Tamil Tigers two years ago was […]
Sri Lanka IFC in business skill push through web, mobile
May 30, 2011 (LBO) – International Finance Corporation, World Bank’s private sector arm, Dialog Axiata and IBM Corporation is seeing growing use of a web based business training platform backed by mobile delivery in Sri Lanka, officials said. IFC’s business toolkit developed by IBM has been adapted to Sri Lanka since 2008 targeting small and […]
Sri Lanka IFC investments upped after war
May 30, 2011 (LBO) – International Finance Corporation, the World Bank’s private sector financing arm, said it could double investments in Sri Lanka to nearly 70 million dollars a year after a 30-year war ended in the country. “We are ready to step up our investment in the post conflict era,” Pavol Wajda, program coordinator […]