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Underpant protests as Maldives crisis deepens
MALÉ, September 27, 2013 (AFP) – Police in the Maldives said Friday they had arrested 14 protesters involved in hanging white underpants outside a courthouse as a constitutional crisis over stalled elections on the honeymoon islands deepened. Supporters of the opposition Maldivian Democratic Party (MDP) been begun displaying white briefs in public to taunt Supreme […]
Confusion over Maldives election as officials clash
COLOMBO, September 27, 2013 (AFP) – The Maldives’ Election Commission sparked confusion on Friday over whether elections originally scheduled for this weekend but suspended by the Supreme Court would go ahead on the troubled Indian Ocean archipelago. Nasheed, 46, won the first round comfortably with 45.45 percent of the vote and faced a run-off contest […]
Oil Blocks
Sept 27, 2013 (LBO) – Oil majors Exxon Mobil and Royal Dutch Shell, France’s Total are among the firms that may bid for offshore oil exploration blocks offered by Sri Lanka, a media report said.Italy’s ENI and India’s ONGC Videsh and Cairn India could also bid, Saliya Wickramasuriya, head of Sri Lanka’s petroleum exploration office […]
‘s NDB begins bond road show: report
Sept 26, 2013 (LBO) – Sri Lanka’s National Development Bank has begun a road show to sell a 250 million US dollar bond in international markets.DFCC Bank is also expected to go the market soon. Bloomberg newswires said investor meetings were being held in Hong Kong, Singapore, and London to starting from this week. Barclays, […]
Sri Lanka stocks flat, rupee steady
Sept 26, 2013 (LBO) – Sri Lanka stocks were flat Thursday with interest in diversified companies and some speculative trading, brokers said, while the rupee was steady in forex markets, dealers said. A liquid five year Treasury bond was quoted at 11.71/75 percent during late trading, down from 11.75/78 percent levels yesterday. Excess liquidity in […]
Road Capacity
Sept 26, 2013 (LBO) – Sri Lanka has to double road capacity every 10 years to meet rising demand, the Asian Development Bank said after approving a fresh loan to expand the island’s road network. The Manila-based bank approved a 75 million US dollar credit to build roads connecting to the island’s first expressway which […]
Corporate Code
Sept 26, 2013 (LBO) – Sri Lanka’s chartered accountants and the Securities and Exchange Commission has launched a revised ‘Code of Best Practice on Corporate Governance.’ “Good corporate governance is fundamental to an organization’s competitiveness, growth and most importantly its sustainability,” The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) said in a […]
Sri Lankan customs seize gold from smugglers
COLOMBO, September 25, 2013 (AFP) – Sri Lankan customs Wednesday seized two kilograms of gold from two men who had hidden the precious metal inside their bodies in an attempt to smuggle it out of the country, an official said.The two Sri Lankans were caught just before they boarded a flight to the Indian city […]
Sri Lanka cautioned against high yield foreign debt by IMF
Sept 26, 2013 (LBO) – Sri Lanka has to be careful of borrowing from abroad at high rates, amid low growth and flat state revenues, an International Monetary Fund official said.Todd Schneider who headed an IMF mission in the wake of a successful 2.6 billion US dollar bailout, said Sri Lanka’s public debt dynamics were […]
Sri Lanka Treasuries yields steady
Sept 25, 2013 (LBO) – Sri Lanka’s Treasuries yields eased on shorter maturities at Wednesday’s auction despite more than the offered amount being sold to bidder, data from the state debt office showed.The 3-month yield eased 01 basis point to 8.60 percent, the 6-month also edged one basis point lower to 9.63 percent and the […]