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Wider Margins
Dec 29, 2010 (LBO) – Fitch Ratings has confirmed the National Long-term rating of Sri Lanka’s Housing Development Finance Corporation Bank (HDFC) at ‘BBB+(lka)’ with a stable outlook, a statement said. The rating agency has also confirmed the ‘BBB+(lka)’ rating on the bank’s outstanding 195 million rupee senior unsecured redeemable debentures. “HDFC’s ratings reflect its […]
Mobile Identity
Dec 29, 2010 (LBO) – Sri Lanka is to delay a move to restrict the number of mobile phone SIM cards individuals can own after requests for more time from mobile phone companies, a senior Telecommunications Regulatory Commission official said. TRC director-general Anusha Pelpita said that under the new rule the number of registered SIM […]
‘s poorest
KAVRE, December 29, 2010 (AFP) – Seven years ago, Nepalese farmer Madhab Parajuli faced an agonising choice: lose his small plot of farmland to mounting debts, or sell one of his kidneys to an organ trafficker. “Local people see that you can give up a kidney and still try to live a healthy life. So, […]
Bangladesh to explore gas in restive hill region
DHAKA, December 28, 2010 (AFP) – Bangladesh has invited some of the world’s leading state-owned gas giants to help explore its insurgency-hit southeastern hill tracts region, an official said Tuesday. The Chittagong Hill Tracts (CHT) region makes up one-tenth of the South Asian country’s landmass but has been largely left unexplored due to a decades-long […]
SriLankan Airlines wins award for campaign that improved sales
Dec 29, 2010 (LBO) – SriLankan Airlines won the ‘Travel & Tourism’ category at the island’s recent Effie Awards for its ˜Hotseats’ marketing campaign that led to better sales, a statement said. SriLankan received a Bronze for the campaign, which was produced by the ad agency Grant McCann Erickson. It was the highest award presented […]
‘s chicks, nuts and sex workers
Dec 29, 2010 (LBO) – Serious shortages of essential food forced Sri Lanka’s government to import chicken, onions and coconuts, but a survey by health authorities has shown that the country is also desperately short of sex workers. Doctor Sujatha Samarakoon of the AIDS prevention unit of the health ministry has said that there are […]
Sri Lanka shares end up 0.3-pct
Dec 28, 2010 (LBO) – Sri Lankan stocks closed higher Tuesday with investors focusing on the banking sector, brokers said. Turnover was 1.6 billion rupees. Sampath Bank closed at 272.40, up 1.60 rupees while DFCC closed at 202.00, up 1.80 rupees. Hatton National Bank non-voting shares closed at 209.40, up 4.40 rupees with over 850,000 […]
Suspended
Dec 28, 2010 (LBO) – The Merchant Bank of Sri Lanka (MBSL) has suspended its chief executive officer for alleged misconduct, the bank said in a stock exchange filing. MBSL shares were trading at 47.40 rupees each, up 1.10, in mid-morning trade. MBSL’s board of directors had decided to suspend the services of its chief […]
Sri Lanka east coast to get luxury hotel
Dec 28, 2010 (LBO) – Sri Lanka’s Esna Holdings, a consultancy and advisory services firm, plans to set up a luxury beach resort in Nilaveli, a prime beach front on the island’s east coast, a statement said. Sri Lanka has seen an influx of tourists after the end of its 30-year ethnic war in May […]
Sri Lanka to get 7-star Shangri-La hotel
Dec 28, 2010 (LBO) – Hong Kong-based leisure group Shangri-La has signed a deal to acquire land to build a seven-star hotel in the Sri Lankan capital Colombo, the chairman of the tourism authority Nalaka Godahewa said. Shangri-La signed the agreement Tuesday to acquire 10 acres of government property near the Galle Face green promenade, […]