Category:
Sailing Opportunity
Sept 17, 2010 (LBO) – Sri Lankan seafarers will get an opportunity to serve on board Iranian vessels following an agreement signed between the two countries during the visit to the island of Iran’s trade minister, officials said. Iranian Trade Minister Mehedi Gassanfari was in Sri Lanka to attend the Joint Trade and Economic Cooperation […]
Soft Bounce
Sept 17, 2010 (LBO) – Sweden-based IFS, an enterprise resource planning (ERP) software maker, said its main development centre in Sri Lanka is growing steadily and demand for its products from the Asia-Pacific region is strong. Its Sri Lanka unit has around 780 staff made up of software developers and business analysts. Jayantha de Silva, […]
Sri Lanka to revamp aviation law
Sept 17, 2010 (LBO) – Sri Lanka will revamp its outdated civil aviation law to cope with advances made over several decades and a new law will be brought to parliament quickly, information minister Keheliya Rambukwelle said. Analysts say Sri Lanka could also earn revenues by expanding air traffic and navigation services to the Indian […]
Sri Lanka blast death toll revised down to 27: military –
September 17, 2010 – Sri Lanka’s military more than halved the estimated death toll from an accidental blast at an explosives depot on Friday, saying 27 people had been killed instead of 60. The nearest hospital to the site of the accident, in the town of Batticaloa, said several people injured in the blast had […]
‘s economic rise: IMF
JAKARTA, September 17, 2010 (AFP) – The International Monetary Fund warned Friday Indonesia must make fighting corruption a priority if it wants to build on its progress as one of the world’s best-performing economies. Southeast Asia’s biggest economy expanded 4.5 percent in 2009, the third fastest in the Group of 20, and is poised for […]
Hong Kong gold hits record high
HONG KONG, September 17, 2010 (AFP) – The price of gold struck a record high above 1,280 US dollars an ounce in Hong Kong trade on Friday. Gold is seen as a safe haven investment and also a hedge against inflation. The precious metal rose to 1,280. 20 US dollars an ounce in afternoon trading, […]
Sri Lankan stocks close up 1.69-pct
Sept 16, 2010 (LBO) – Sri Lankan stocks recovered to pass the 6,300 points mark Thursday, from price gains on index heavy and midcap stocks, while Hotel Reefcomber shares continued to be heavily traded, brokers said. Nations Trust Bank closed at 84. 00 rupees, up 7.60 with 2.88 million shares changing hands, brokers said. The […]
Port Project
Sept 16, 2010 (LBO) – Sri Lanka has awarded a contract to build and operate a new deep-water container terminal in Colombo port to a consortium consisting of China Merchant Holdings International and Aitken Spence, a statement said. The new terminal will have a quay wall length of 1. 2 kilometres with a minimum alongside […]
Lower Loss
Sept 16, 2010 (LBO) – Sri Lanka’s The Finance Company (TFC) reduced losses to 431 million rupees in the June 2010 quarter compared with a loss of 693 million rupees the year before, a stock exchange filing said. Interest income fell 42 percent to 660 million rupees while interest expenses fell 45 percent to 814 […]
Personal Investment
Sept 15, 2010 (LBO) – Sri Lanka’s NDB Aviva Wealth Management, a unit of Sri Lanka’s NDB Bank and UK’s Aviva has launched four mutual funds that can be easily customized to suit the investment needs of individual savers, officials said. The mutual funds could also be backed by bank fixed deposits from NDB Bank […]
Sri Lanka releases Economist magazine
Sept 16, 2010 (LBO) – Sri Lanka has allowed its citizens to read the latest issue of The Economist magazine, which carries a story on a controversial change in the country’s constitution after being held back by customs authorities for nearly a week. Sri Lanka is recovering from a 30-year ethnic war with Tamil separatists, […]
Sri Lanka economy grows 8.5-pct: statistics office
Sept 16, 2010 (LBO) – Sri Lanka’s economy is estimated to have grown by 8.5 percent during the second quarter of 2010 from a year earlier, which is the highest quarterly growth rate recorded since 2002, the government’s statistics office said. Higher costs had reduced chicken production by 5.2 percent and eggs by 0.9 percent. […]