All Blogs
Dilshan hits ton in Sri Lanka victory
PALLEKELE, August 6, 2011 (AFP) – Tillakaratne Dilshan hammered a maiden Twenty20 century to set up Sri Lanka’s 35-run victory over Australia in the opening match on Saturday. The captain made a 57-ball 104 not out, smashing five sixes and 12 fours in a superb display of hard and clean hitting to help his team […]
Loss of AAA status tough but logical for US
WASHINGTON, August 7, 2011 (AFP) – Standard & Poor’s decision to strip the United States of its triple-A credit rating is a tough but logical sanction of the country’s inability to contain its spiraling debt, experts say. S&P slashed the US rating for the first time in history Friday from its sterling AAA to AA+, […]
”” market tumble
PARIS, August 7, 2011 (AFP) – The week on financial markets began with high tension over the eurozone debt crisis and culminated in a downgrading of the US credit rating. Attention focused on the outlook for the US and EU economies, and the eurozone lurched deeper into crisis which now affects even core countries. The […]
Sri Lanka Textured Jersey says June net up 136-pct
Aug 06, 2011 (LBO) – Sri Lanka’s Textured Jersey, a knitwear making unit of Sri Lanka’s Brandix apparel group said profits in the June 2011 quarter rose 136 percent to 143.9 million from a year earlier, despite a rise in cotton prices. The firm will have 655 million shares after the initial offer. Last year […]
US credit rating downgraded to AA+ by S&P
Aug 06, 2011 (LBO) – The long term credit rating of the United States of America has been downgraded by one notch to AA + with a negative outlook by Standard & Poors, a rating agency, which said policy making has become less ‘stable’. At higher levels in the rating scale, policy takes on a […]
US credit rating downgraded AA+, outlook negative
Aug 06, 2011 (LBO) – The long term credit rating of the United States of America has been downgraded by one notch to AA + with a negative outlook by Standard & Poors, a rating agency. Unless rulers cut spending as agreed with the congress, the rating agency said it may further downgrade US government […]
Sri Lanka stocks end down 0.9-pct
Aug 05, 2011 (LBO) – Sri Lankan stocks closed lower Friday as Asian and European markets plunged on renewed recession fears, brokers said. The benchmark All Share Price Index ended down 0. 86 percent or 58.49 points at 6,751.29, while the Milanka Index of more liquid stocks closed down 1.03 percent (64.26 points) at 6,152.23, […]
Fusion Mode
Aug 05, 2011 (LBO) – A service station to repair and maintain hybrid cars in Sri Lanka, whose use has risen sharply after an import tax cut, has been set up in the capital Colombo. About 2,000 hybrid electric vehicles, which combine an internal combustion engine with electric motors to drive them, are already on […]
Margin Play
Aug 05, 2011 (LBO) – Sri Lanka’s Nations Trust Bank group June 2011 quarter profits rose 29 percent to 360 million rupees helped by a provision reversal and lower taxes, despite a squeeze in margins on its loan book, interim accounts showed. The bank reported earnings of 1.55 rupees for the quarter and 2. 58 […]
Bank Directors
Aug 05, 2011 (LBO) – Sri Lanka’s NDB Bank has appointed Hemaka Amarasuriya, former chairman of Singer Sri Lanka, and Softlogic group chief Ashok Pathirage as deputy chairman. The appointments were made on August 04, the bank said in a statement. Amarasuriya was also vice president of Singer Asia and Retail Holdings Limited of USA. […]