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Sri Lanka stocks end down 0.9-pct
Oct 04, 2011 (LBO) – Sri Lankan stocks closed lower Tuesday with losses in shares that had been pushed up by speculators and a newly listed finance firm being heavily traded, brokers said. The ASPI is up 2.23 percent so far this year while most other regional markets were down. The main All Share Price […]
Sri Lanka to monitor foreigners electronically
Oct 04, 2011 (LBO) – Sri Lanka is developing a system to track and monitor foreign nationals as they enter and travel around the country, after a new online travel approval system is fully operational, an official said. The immigration department already had a ‘migration intelligence unit’ but another special unit would be created in […]
Sri Lanka LOLC buys full control of resort
Oct 04, 2011 (LBO) – Sri Lanka’s LOLC Leisure has bought full control of the Tropical Villas resort on the south coast paying 165 million rupees to Carbotels for the remaining 40 percent, a stock exchange filing said. The firm had bought 60 percent of Tropical Villas Ltd (TVL) in August 2010 and now holds […]
Tech Fair
CHIBA, October 4, 2011 (AFP) – Smartphones detecting bad breath and radiation, twistable remote controls and a super-thin tablet computer featured among the cutting-edge gadgets at Asia’s biggest tech fair in Japan Tuesday. Around 600 firms unveiled their innovations at the Combined Exhibition of Advanced Technologies (Ceatec) exhibition in Chiba, near Tokyo, expected to draw […]
Asia leads world in child-labor products: US report
WASHINGTON, October 4, 2011 (AFP) – India, Bangladesh and the Philippines lead the world in the number of products made by child workers, a US government stock-taking of the global scale of underaged labor revealed Monday. Some 130 types of goods — from building bricks and soccer balls to pornography and rare ores used in […]
Sri Lanka scraps sports medical unit over doping
COLOMBO, October 4, 2011 (AFP) – Sri Lanka has sacked its entire sports medical unit over allegations that staff were linked to banned steroids used by cricketers and national athletes, officials said Tuesday. Sports Minister Mahindananda Althugamage ordered the complete overhaul of the unit following positive tests for cricketer Upul Tharanga, national rugby players and […]
Sri Lanka maintained balance while ensuring growth: CB Governor
Oct 04, 2011 (LBO) – Policymakers must look at an economy as a whole and not focus only on certain aspects, Sri Lankan central bank governor Nivard Cabraal said. Factors like the exchange rate, interest rates, unemployment and growth were all interconnected, he told a meeting of the Asian Bankers Association in Colombo Tuesday. Concern […]
Sri Lanka stocks end flat
Oct 03, 2011 (LBO) – Sri Lankan stocks closed virtually flat Monday, unmoved by Sunday’s announcement of an offshore natural gas strike that could benefit firms with shipping businesses and meet local energy needs, brokers said. Regnis (Lanka), another stock which has drawn speculators, closed at 488.80 rupees, up 68.50 rupees. The main All Share […]
Recovery Drive
Oct 03, 2011 (LBO) – RAM Ratings Lanka has assigned long- and short-term financial institution ratings of B- and NP to Prime Grameen Micro Finance Ltd. with the long-term rating having a stable outlook. The Company’s capitalisation levels are deemed moderate. Its shareholders’ funds had recovered to LKR 242.14 million by end-July 2011 (end-FY Mar […]
Fresh Lease
Oct 03, 2011 (LBO) – People’s Leasing Company, Sri Lanka’s largest leasing firm which plans to raise 70 million US dollars in an initial public offer, is seeing strong growth in lease volumes on the back of a post-war economic revival. People’s Leasing Company group posted profits of 2. 6 billion rupees in the year […]