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Sri Lanka gets visit by ADB vice president
Aug 18, 2010 (LBO) – Asian Development Bank (ADB) said its Vice President Xiaoyu Zhao will visit Sri Lanka from 19-21 August for talks with the government and to visit ADB funded projects especially in the former northern war zone. The bank said in a statement Zhao will review ADB support for the reconstruction and […]
‘s Mahindra group
Aug 18, 2010 (LBO) – India’s Mahindra and Mahindra group is planning to make investments in Sri Lanka initially in tourism and financial services and also increasing vehicles sales in the island, an official said. “Sri Lanka can provide a platform for large multinationals like us,” Anand Mahindra, Vice Chairman and Managing Director of the […]
Sri Lankan stocks close up 2.21- pct
Aug 17, 2010 (LBO) – Sri Lankan stocks rallied for the third straight day, Tuesday, from renewed buying interest on midcap stocks despite low trading volumes, while retail interest on volatile ‘penny’ stocks continued, brokers said. The All Share Price Index closed at 5,305.80, was up 2.21 percent (114.50 points) while the Milanka index of […]
Keel Laying
Aug 17, 2010 (LBO) – Colombo Dockyard has laid the keel for construction of the second vessel of a series of two 130 Ton Bollard Pull Anchor Handling Tug Supply Vessels (AHTSV) Tuesday, a statement said. “The keel laying ceremony signifies the commencement of construction work of the AHTSV, which is one of the biggest […]
European Link
Aug 17, 2010 (LBO) – Logistics firm DHL has launched a direct Less-than-Container Load (LCL) service from Colombo and Singapore to Koper, Slovenia, improving connectivity with Eastern Europe, a statement said. The direct service, operated by Danmar Lines, DHL Global Forwarding’s in-house carrier, will shorten transit time between Sri Lanka and Singapore with Slovenia. “Small […]
Bank Numbers
Aug 17, 2010 (LBO) – Hatton National Bank (HNB) group June quarter profits rose 22 percent to 1.22 billion rupees from high interest margins and higher fee based income, while loan loss provision costs had also come down, a stock exchange filing showed. In June quarter 2010, interest income was down 16 percent to 7.57 […]
Sri Lanka LOLC buys beach resort for Rs310mn
Aug 17, 2010 (LBO) – Sri Lanka’s LOLC group has bought control of a beach resort on the west coast for 310 million rupees and is in talks with international chains to manage the property, a stock exchange filing said. LOLC said it is holding talks with a “few world-renowned hotel chains” that have shown […]
Sri Lanka vets go on strike over elephants
August 17, 2010 (AFP) – Sri Lankan wildlife veterinarians have gone on strike to protest at the alleged mishandling of elephant conservation which has resulted in an increase in deadly attacks, a union leader said Tuesday. “There is no proper management of wild elephants who are being pushed into narrow habitats as the government allows […]
‘ travel
VANCOUVER, August 17, 2010 (AFP) – Canadian authorities are investigating whether Sri Lankan rebels financed the passage of nearly 500 Tamil refugees to Canada last week, officials said Monday before the start of detention hearings. Public Safety Minister Vic Toews, speaking to The Globe and Mail daily in an article Monday, said passengers were charged […]
Sri Lankan stocks close up 1.48-pct
Aug 16, 2010 (LBO) – Sri Lankan stocks rallied for the second straight day, Monday, in low volume trading, while there was renewed retail buying interest on ‘penny’ shares, brokers said. The All Share Price Index closed at 5,191.30, was up 1.48 percent (75.51 points) Monday, while the Milanka index of more liquid stocks rose […]
Foreign Policy
HAMBANTOTA, August 15, 2010 (AFP) – A China-funded port in Sri Lanka will be a symbol of Colombo’s non-partisan foreign policy, the president said Sunday amid Indian concerns over Beijing’s interests in the region. President Mahinda Rajapakse marked a key milestone in the construction of the 1.5 billion-dollar port in the southern Sri Lankan town […]
Combined Entity
Aug 16, 2010 (LBO) – Fitch Ratings has withdrawn the ratings of six Sri Lankan Regional Development Banks (RDBs) upon their merger and upgraded those of two which it said reflects its views on the rating of the merged bank. The merged entity with an asset base of 42 billion rupees as at end-June 2010 […]