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India's Cairn to commence drilling for oil in Sri Lanka next year
July 30 (CP) Colombo- Sri Lanka's Petroleum Ministry today said that an Indian company would commence drilling for oil in the sea off the northwestern coast early next year.
Cairn Sri Lanka (Pvt) Ltd, which is a subsidiary of Cairn India (Pvt. Ltd), is to commence drilling the first three oil wells in the Mannar Basin in January.
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Negotiations on Shell Lanka Gas deal to be finalized this week
July 29 (CP) Colombo- The high-level committee appointed by the Sri Lankan Cabinet to look into the purchase of a 51 percent stake in Sri Lanka's major liquefied petroleum distributor Shell Lanka Gas Company is to complete the negotiations within the next two days,
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Jubilant FoodWorks plans to enter SriLanka, Bangladesh
July 30 (NK) New Delhi Jubilant FoodWorks, which operates Pizza delivery major Domino's in India, Friday reported a net profit of Rs.15.3 for the quarter ended June 30, and said it is planning to open stores in Sri Lanka
and Bangladesh next year.
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ComBank goes to Achchuvely and Thirunelvely
July 30 (DM) Residents of the Northern Province are now served by 11 Commercial Bank branches and Service Points with the simultaneous opening of two new branches at Achchuvely and Thirunelvely.
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Sri Lanka's Seylan Bank's Reports First-Half Net Income More Than Doubles
July 30 (Bloomberg) Seylan Bank Plc., a Colombo-based lender, posted profit of 507 million rupees ($4.5 million) in the first half ended June 30, compared with 188 million rupees a year earlier, according to a statement to the Colombo Stock Exchange.
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HNB to partner the resilient people of Kilinochchi
July 29 (Island) Hatton National Bank opened its 191st customer centre at Karuna Nilayam, A9 Road, Kilinochchi recently.
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Hemas earnings top Rs 291 million in Q2
July 29 (DN) Hemas Holdings Plc consolidated revenues have increased by 14 percent to Rs 4.3bn and net earnings have increased by an impressive 61 percent to close at Rs 291mn for the quarter ended June 30,2010.
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Sri Lanka to import coal for power generation
July 30 (CP) Colombo- Sri Lanka Cabinet of Ministers has granted permission to the Central Bank to provide a guarantee of Rs. one billion to People's Bank to open letters of credit worth for importing coal to Sri Lanka.
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Sri Lanka's Supreme Court dismisses FR petition filed against price floor on mobile phone tariffs
July 29 (CP) Colombo- Sri Lanka Supreme Court today dismissed a fundamental rights petition filed by Bharati Airtel Lanka (Pvt) Ltd. challenging the price floor imposed on mobile phone tariffs.
The Telecommunications Regulatory Commissions (TRC) recently announced the introduction of price floors to mobile phone operators.
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MTV withdraws case against TRC
July 30 (Island) The Telecommunication Regulatory Commission yesterday agreed to allocate channel 46 for the transmission of 'Shakthi' TV in the Jaffna Peninsula on the payment of a licence fee.
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JKH posts Rs 1.53 b profit in Q1
July 30 (DN) John Keells Holdings PLC recorded a profit before tax (PBT) of Rs 1.53 billion for the first quarter ended June 30, 2010.
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Sri Lanka Information Technology Report Q3 2010
July 29 (OS) Sri Lanka's IT market is estimated to be worth US$336mn in 2010, just 2% the size of India's, but is expected to grow to more than US$700mn within the five-year forecast period.
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Ceylinco Shriram to settle all investors
July 29 (DM) Ceylinco Shriram is to settle all their investors, in a repayment plan overseen by the Central Bank of Sri Lanka, and will accordingly pay the full outstanding amount within a stipulated time period. Thus, 60% of the total outstanding amount will be paid within a period spanning 42 months, in accordance with the wishes of the Central Bank.
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Sri Lanka's Asian Hotels and Properties Quarterly Profit More Than Doubles
July 29 (Bloomberg) Asian Hotels and Properties Plc., a Colombo-based hotel and property management company, posted profit of 188 million rupees ($1.7 million) in the first quarter ended June 30,
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