Category:
Detained Sri Lanka writer probed for radical links: police
April 3, 2010 (AFP) – A Sri Lankan woman taken into custody last month for writing books about her conversion to Islam from Buddhism is being investigated for possible links to Islamic extremists, police said Saturday. Last weekend, police said the woman, identified as Malini Perera, was taken into custody under tough emergency laws over […]
Sri Lanka govt rules out more protection, subsidies for business
Apr 02, 2010 (LBO) – The Sri Lankan government cannot give more protection and subsidies for local and export businesses who must instead be more productive and innovative, Treasury Secretary P B Jayasundera said. He told the National Chamber of Exporters the government has delivered peace by ending the Tamil Tiger war and begun building […]
Sri Lankan private pension funds encouraged to enter equities: SEC chairman
Apr 02, 2010 (LBO) – Pensions funds operated by private firms would be encouraged to invest more in the stock market and legal hurdles that prevented them would be cleared, Sri Lanka’s capital market regulator said. Sri Lanka state managed EPF has been investing heavily in the equity market in recent weeks as long-standing foreign […]
Sri Lanka Milk Foods starts new plant
Apr 02, 2010 (LBO) – Lanka Milk Foods (LMF), a milk powder packer which is part of Sri Lanka’s Distilleries group, said it has begun production at a new plant with a capacity of 9.5 million litres of cow milk. LMF acquired them in 2001 when it bought 90 percent of the shares of Ambewela […]
Indian designers go back to their roots as retro-chic rules
NEW DELHI, April 2, 2010 (AFP) – Raw silk, cotton, jute — India’s traditional fabrics are finding favour among top designers raring to break new ground in the highly competitive Indian fashion market. The tendency to ape Western cuts and style in recent years has seen the country’s own rich craftsmanship take a backseat. But […]
Sri Lanka apparel exporter gets ready for carbon footprint rules
Apr 02, 2010 (LBO) – Sri Lankan apparel exporter Brandix said it is investing more to cut energy costs and carbon emissions and comply with anticipated laws in key markets requiring disclosure of carbon footprints of products. The group, which has invested four million US dollars on the initiative, said it has already reduced its […]
Sri Lankan stocks close 0.59-pct up, blue chips gain
Apr 01, 2010 (LBO) – Sri Lankan stocks closed up Thursday boosted by price gains on index heavy blue chips, while John Keells Holdings (JKH) reached a billion dollars in market capitalization, brokers said. At the end of trade Thursday, JKH had reached a market cap of 114.9 billion rupees, brokers said. Dealers said the […]
Trade Hub
April 01, 2010 (LBO) – Chinese port operator China Merchants Holdings (International) has said it expects a breakthrough in talks to build a new container terminal in Sri Lanka’s Colombo harbour this year. The company, in partnership with Sri Lankan conglomerate Aitken Spence, was the sole bidder for the first container terminal to be built […]
State Bank
Apr 01, 2010 (LBO) – Sri Lanka’s state-run People’s Bank group’s net profit rose 21. 8 percent to 4.1 billion rupees in 2009 from a year earlier, helped by stronger margins despite higher provisions, annual accounts showed. Group gross loans and advances rose to 334 billion rupees from 294 billion rupees a year earlier. Non […]
Wealth Product
Apr 01, 2010 (LBO) – Sri Lanka’s NDB Aviva Wealth Management, a unit of listed NDB Bank and UK based Aviva Insurance says it is planning to go retail riding on easy to understand products distributed through the group. The firm manages 29 billion rupees worth of assets belonging to 80 large portfolios including the […]
Sri Lanka tea estate in iced tea project with US firm
April 01, 2010 (LBO) – Sri Lanka’s listed Bogowantalawa Tea Estates said it was starting a two million dollar iced tea unit with a US firm in which the firm would take up a 25 percent stake. The joint venture will export packaged iced tea to the United States. The company said it was teaming […]
South Health
Apr 01, 2010 (LBO) – Sri Lanka’s Asiri Hospital had bought a 40-bed hospital in the island’s southern Matara area for 160 million rupees, the firm said in a stock exchange filing. Matara Medi House (Pvt) Ltd is build on a 241 block of land in the Matara town. The firm said the purchase was […]