All Blogs
Relief Appeal
July 28, 2010 (LBO) – Depositors of a failed Sri Lankan finance company desperate to get their money back want to petition the United Nations human rights council saying their fundamental rights have been violated, a spokeswoman said. Only a few depositors had benefitted from a government repayment scheme for those who had money in […]
Regional Role
July 28, 2010 (LBO) – Sri Lanka could issue Islamic finance sovereign bonds or ‘Sukuks’ and take the lead in becoming a regional centre for Islamic financial services which other countries with less experience are aiming for, an official said. “Australia and Mauritius have said they want to be hubs for Islamic finance,” says Rushdi […]
Tech Ventures
July 28, 2010 (LBO) – Two companies plan to set electronic commerce ventures in Sri Lanka which is promoting itself as a site for business process outsourcing, the Board of Investment said in a statement. The investment promotion agency said it has given investment approval to Senit Technologies and Vingrows Business Solutions to start operations […]
Soros to buy 4.0 percent stake in Bombay bourse: report
MUMBAI, July 28, 2010 (AFP) – Billionaire investor George Soros is close to sealing a 40-million-dollar deal to buy Dubai Holding’s 4. 0 percent stake in the Bombay Stock Exchange (BSE), the Financial Times reported Wednesday. If the purchase goes through, it would be the latest in a series of strategic foreign investments in India’s […]
SriLankan Airlines wins Singapore award for growth
July 28, 2010 (LBO) – SriLankan Airlines has won an award from Singapore’s Changi airport for having the highest growth in traffic to the city state from the region last year, a statement said. The award was for ˜Top Airline by Growth in Passenger Carriage (South Asia)’. Travel between Singapore and Sri Lanka has grown […]
Sri Lanka bond auction yields slip
July 27, 2010 (LBO) – Sri Lanka’s 5-year bond yields slipped 28 basis points to 9.62 percent and 6-year bonds fell 22 basis points to 9.68 percent on Tuesday from an auction on July 15, results released by the government debt office showed. Four year bonds (01-04.2014) were traded around 9.48 and closed at closed […]
Sri Lanka stocks hit new high
July 27, 2010 (LBO) – Sri Lankan stocks hit a new high Tuesday, crossing 5,000 points for the first time before falling back as investors bought in anticipation of higher company earnings and foreign funds entering the market, brokers said. Company earnings are also improving with the improved business climate and lower interest rates and […]
Road Cash
July 27, 2010 (LBO) – Sri Lanka has asked for 500 million US dollars from the Asian Development Bank to build a new highway from the island’s capital Colombo which will speed up traffic to the north, officials said. “We are having discussions with the government,” ADB’s country director Richard Vokes told LBO. “We have […]
Grievances
July 27, 2010 (LBO) – Sri Lanka has not paid some owners of land acquired by the state for infrastructure for 25-years, and a total of 8. 5 billion rupees remains unpaid for property taken to expand roads, an official said. Vokes said the guide was developed with the help of Sri Lanka’s Road Development […]
India hikes rates for fourth time this year
MUMBAI, July 27, 2010 (AFP) – India’s central bank is expected to raise interest rates on Tuesday for the fourth time this year in an attempt to tame the highest inflation among the Group of 20 economic powers. The Congress-led government has been under constant attack from opposition parties for its inability to protect the […]