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Logistics Link
May 31, 2010 (LBO) – Sri Lanka’s Chartered Institute of Logistics and Transport (CILT) is to function under the Ceylon Chamber of Commerce (CCC), the island’s oldest business chamber, as it launched a corporate membership drive, a statement said. The CILT has entered into an agreement with the CCC which enables the institution to function […]
Lease Growth
May 31, 2010 (LBO) – Sri Lanka’s Commercial Leasing Company will raise 700 million rupees through a senior unsecured debenture which has been rated ‘A-(lka)’ with a ‘stable’ outlook, Fitch Ratings Lanka said. The balance was working capital loans secured by vehicle mortgages (9 percent of advances) and debt factoring (15 percent). Fitch said loan […]
Card Growth
May 31, 2010 (LBO) – Sri Lanka’s banks have started to issue new credit cards ending a steady contraction seen during 2009, amid an overall growth in commercial bank loans to private businesses this year, official data show. In March 2010, bank credit to businesses rose 23 billion rupees, the strongest monthly growth since credit […]
” – minister
May 31, 2010 (AFP) – The governing body for cricket in Sri Lanka is the island nation’s third-most dishonest institution, the country’s new sports minister said on Monday. “The first and second are education and police. Sri Lanka Cricket is the third-most corrupt institution in the country,” minister Chandrasiri Bandara Ratnayake told reporters in Colombo. […]
Sharma ton seals India win 0ver Sri Lanka
BULAWAYO, May 30, 2010 (AFP) – A chilly day in Africa but not for Indian cricketers as batsman Rohit Sharma hit his second century in successive matches to secure a seven-wicket win over Sri Lanka in a tri-nation series. Sharma’s first century was against Zimbabwe on Friday in a match which the home side won […]
Sri Lanka needs international probe: UN rights chief
GENEVA, May 31, 2010 (AFP) – The United Nations human rights chief maintained Monday that Sri Lanka needed an international probe into the government’s final offensive against Tamil Tiger rebels last year. Navi Pillay, the UN High Commissioner for Human Rights, noted that the Sri Lanka government had created a post-war reconciliation commission to look […]
Sri Lanka inflation slows to 5.3-pct in May
May 31, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 5.3 percent in May 2010 from a year earlier, down from 5.8 percent in April, the third straight monthly fall, the government statistics office said. The 12-month moving average, which has been on the rise since March, rose to 3.6 percent from […]
” in new twist to defend state excesses
PARIS, May 30, 2010 (AFP) – As European governments rush to cut budget deficits with draconian austerity measures, experts are warning that the fallout could mean a shutdown in Europe’s tentative economic recovery. The IMF’s chief economist, Olivier Blanchard, has said there is “a risk… of austerity zeal in some countries under pressure from the […]
Leaking Profits
SINGAPORE, May 30, 2010 (AFP) – Entrepreneur Binod Hariharan has big plans for his southern Indian firm, which develops astrology-based computer software to help users find a suitable spouse or plot their career paths. Similarly ambitious is Somporn Maneeratanakul, managing director of Thai Software Enterprises, and Nguyen Minh Duc, director of BKIS Security, a Vietnamese […]
Standard Chartered raises 530 million dollars in India
MUMBAI, May 30, 2010 (AFP) – British bank Standard Chartered on Sunday said it had raised 530 million dollars through a first-of-a-kind sale of shares in India. The lender, which makes most of its profits in Asia, will issue 240 million Indian Depository Receipts (IDRs) at a price of 104 rupees each, the bank said […]