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Sri Lanka Aviva unit March net Rs147.6mn
May 06, 2010 (LBO) – Sri Lanka’s Aviva NDB Insurance made a net profit 147.6 million rupees in the March 2011 quarter compared with a loss of 80 million rupees the year before, a stock exchange filing said. Total revenues rose 33 percent to 3.6 billion rupees. Aviva NDB Insurance group’s gross written premium income […]
Sri Lanka goes solar for rural lighting
May 06, 2011 (LBO) – Sri Lanka is to provide solar power for the 10 percent of homes that cannot be reached by extending the national electricity grid in its bid to ensure 100 percent electrification by 2012. The Cabinet of ministers has approved a proposal by the power and energy ministerPatali Ranawaka to introduce […]
European Union to reduce GSP beneficiary countries
BRUSSELS, May 5, 2011 (AFP) – European Union trade chiefs are planning to strip away special export advantages granted to China, India, Indonesia and scores of other fast-growing economies, an EU source said Thursday. In total, more than 80 emerging economic players also including the likes of Morocco would lose from 2014 benefits gained under […]
Sri Lanka coach calls for IPL window
May 6, 2011 (AFP) – Sri Lanka’s interim coach Stuart Law on Friday said cricket administrators should schedule a window for Indian Premier League fixtures to stop players choosing club over country. Law, who has stepped in to fill the job left by outgoing coach Trevor Bayliss, has a tough assignment ahead as Sri Lanka […]
Sri Lanka stocks rebound
May 05, 2011 (LBO) – Sri Lankan shares rebounded after four days of falls, the indices lifted by gains in index heavy shares, although trading turnover was thin, brokers said. The main All Share Price Index closed at 7,317.17, up 1.44 percent (103.84 points) while the more liquid Milanka index rose 0.84 percent (56.02 points) […]
Harbour Help
May 05, 2011 (LBO) – Sri Lanka is to develop the northern Kankesanturai port with Indian aid in a project that will deepen the harbour basin and build a breakwater, a government spokesman said. The Cabinet of ministers of approved a proposal by President Mahinda Rajapaksa as minister of ports to “rehabilitate” the Kankesanturai port […]
Fund Alerts
May 05, 2011 (LBO) – Sri Lanka’s Commercial Bank said recipients of remittances through its e-Exchange facility will get SMS alerts when their accounts are credited. All recipients who have mobile connections from any mobile operator in Sri Lanka will be eligible to receive these alerts as and when a remittance is received, 24-hours-a-day, seven […]
Sri Lanka gets Indian cruise liner
May 05, 2011 (LBO) – An Indian cruise ship owned and operated by a Chennai-based AMET Shipping India will start calling at Sri Lankan ports in May offering cruises starting at 10,000 Sri Lankan rupees a night, officials said. The cruise service is being launched not only to cater to tourists but also to train […]
Second Round
May 4, 2011 (AFP) – The jury in the Wall Street insider trading trial of hedge fund founder Raj Rajaratnam was ordered Wednesday to restart deliberations from scratch after one juror had to be replaced. Judge Richard Holwell instructed the jury that after one of their members had to be replaced for medical reasons, the […]
Internal Inquiry
May 4, 2011 (AFP) – The United States called on Sri Lanka Wednesday to bring to justice anyone responsible for war crimes committed as the island crushed a decades-long insurgency. US diplomat Robert Blake said Colombo should carry out its own investigation into allegations contained in a United Nations report of atrocities during the 2009 […]
Software Channel
May 05, 2011 (LBO) – E-Channelling, a listed Sri Lankan dotcom that enables patients to make appointments with doctors over the internet, has formed a joint venture with a British firm to diversify into BPO work. The new joint venture company, called ECL Soft, will have equal shareholdings between E-Channelling and its partner Software Distributions […]
”s fourth-quarter profit dives 31%
NEW DELHI, May 5, 2011 (AFP) – India’s top mobile phone firm Bharti Airtel said Thursday its fiscal fourth-quarter net profit tumbled 31 percent from a year earlier, weighed by costs from its new Africa acquisition. Net profit fell to 14.01 billion rupees ($314.3 million) in the three months to March from 20. 44 billion […]