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Sri Lanka Spence Hotel Dec net profit Rs210mn
Feb 03, 2010 (LBO) – Sri Lanka’s Aitken Spence Hotel Holdings made a December quarter net profit of 210 million rupees with total revenues up 20 percent to 1.98 billion rupees from a year ago. According to accounts filed with the stock exchange, the net profit in the quarter, although nominally down 41 percent from […]
Sri Lanka Hayleys to increase exports to food chains
Feb 03, 2010 (LBO) –Sri Lanka™s Hayleys conglomerate is building a factory in the former war zone in the east to increase exports of pickled gherkins to food companies such as McDonald™s and Burger King. The partnership will open up new markets for farmers in the east, increase their incomes and expand the economic base […]
Outsource Chances
Feb 03, 2010 (LBO) – Sri Lanka’s software industry has launched a campaign to draw information technology and business process outsourcing work mainly from small and medium firms in the United Kingdom and Europe, an industry body said. The Sri Lanka Association of Software and Service Companies (SLASSCOM) said in a statement it was aiming […]
False Himalaya glacier scare hurt global warming claims
LONDON, February 3, 2010 (AFP) – The embattled chief of the UN climate change panel admitted Wednesday that a mistake in a landmark 2007 report had damaged the body’s credibility, in an interview with a British newspaper. But Rajendra Pachauri, chairman of the Intergovernmental Panel on Climate Change (IPCC), refused to apologise in the interview […]
Sri Lanka re-opens two wildlife parks
Feb 03, 2010 (LBO) – Sri Lanka has re-opened two wildlife parks in the country’s south and east which are famed for migratory birds and elephants, after an internal conflict which had kept them closed had ended, a top official said. Since the parks opened last week a few visitors had trickled in, but officials […]
Sri Lanka presidential election results clean, campaign dirty: polls chief
Feb 03, 2010 (LBO) – Results of Sri Lanka’s recently concluded presidential poll was clean, contrary to complaints of malpractices, but election campaigning was unfair, the head of the elections department said. “The campaign period – I’m not satisfied; the election results – I stand by it, elections commissioner Dayananda Dissanayake told reporters at a […]
Sri Lanka reserve ratio hike not ruled out: CB Governor
Feb 02, 2010 (LBO) – Sri Lanka is open to increasing the ratio of cash banks must deposit with the Central Bank as a policy to contain inflation, Governor Nivard Cabraal said, as consumer inflation accelerated to an eleventh month high in January. Sri Lanka’s market risk free rates have already started to move up […]
Sri Lanka Treasuries yields flat
Jan 21, 2010 (LBO) – Sri Lanka’s three and six month Treasury bill yields edged up marginally, while 12 month bills stayed flat at Tuesday’s auction, the government’s debt office said. The 3-month yield increased 04 basis points to 7.99 percent, the 6-month yield increased 03 basis points to 8.93 percent and the 12-month yield […]
Sri Lankan stocks pass 3,700 point mark
Feb 02, 2010 (LBO) – Sri Lankan shares closed higher and passed the 3,700 point mark for the first time Tuesday as retailers continued to bet on plantations, while some investors took profits on selected blue chips, brokers said. The benchmark All Share Price Index (ASPI) closed at 3,709. 13 points, up 17.74 points, while […]
Sri Lanka tourism authority gets new boss
Feb 02, 2010 (LBO) – Sri Lanka’s tourism minister has appointed a new chairman, Eranga Basnayake, to the tourism development authority, an official said. In another development reports said Sri Lanka Telecommunications Regulatory Commission director general Priyantha Kariyapperum has resigned. Ministry secretary George Micheal said the new appointment was made by tourism minister Achala Jagoda. […]
Sri Lanka Horana Plantations Dec net up on high tea prices
Feb 02, 2010 (LBO) – High tea prices helped Sri Lanka’s Horana Plantations to make a profit of 75 million rupees in the December, according to accounts filed with the stock exchange. Horana Plantations said the wage deal was effective from April 2009 and that wage arrears amounting to 68.05 million rupees has been recognised […]
Slow Growth
Feb 02, 2010 (LBO) – Sri Lanka’s Keells Food Products group made a loss of 54 million rupees in the December quarter largely owing to losses in its India business which however it is continuing to expand, interim results showed. Revenues of the company, part of the John Keells conglomerate, fell four percent to 513 […]