All Blogs
Sri Lankan stocks close 0.36-pct up, Com Bank heavily traded
May 18, 2010 (LBO) – Sri Lankan shares bounced back Tuesday as price gains on index heavy high value stocks pushed the market up, while heavy institutional interest on Commercial Bank drove trading volumes up, brokers said. The All Share Price Index closed at 4,257.67, up 15.18 points, while the Milanka index of more liquid […]
Finance Numbers
May 18, 2010 (LBO) – Central Finance Company Limited (CFCL) group March quarter profits dipped 11 percent to 298.2 million rupees due to a steep jump in tax costs from a year ago, a stock exchange filing said. For the full year profits had dipped 7.1 percent to 1.0 billion rupees, its accounts showed. In […]
Multi Finance
May 18, 2010 (LBO) – Ram Ratings Lanka said it had confirmed the ‘BB’- long term rating and NP short term rating of Sri Lanka’s Multi Finance Company Limited (MFL) and withdrawn it at the firm’s request. “On a related note, MFL’s performance has remained weak, burdened by hefty overheads.” Ram said while a one-off […]
Sri Lanka promotes specialty teas in Japan
May 18, 2010 (LBO) – Sri Lanka is promoting the manufacture of specialty teas by its industry, with a competition in Japan giving recognition to producers and earning top prices, officials said. Anil Cooke, chairman of the Colombo Tea Brokers’ Association, said Sri Lanka has seven distinct growing regions and 36 valleys and growing districts. […]
Customs Info
May 18, 2010 (LBO) – Sri Lanka’s Financial Intelligence Unit (FIU) has signed a deal with the country’s customs office to share information to help counter money laundering and terrorist financing. The FIU says it is chasing more information sharing deal with other domestic agencies. “The Financial Intelligence Unit and other authorities such as Sri […]
India struggles to count its millions
NEW DELHI, May 18, 2010 (AFP) – In a labyrinthine district of New Delhi, Kalpana Singh is busy knocking on doors, straining to make out house numbers scratched on the walls and warmly greeting residents with a smile. She is on a mission to record and document the occupants of the teeming and decrepit area […]
Sri Lanka Ceylinco Insurance net up 9-pct in March
May 18, 2010 (LBO) – Sri Lanka’s Ceylinco Insurance Company said net profits for the March 2010 quarter were up 9 percent to 110.5 million rupees from a year earlier though gross written premiums were flat at 4.4 billion rupees with lower general business. Basic earnings per share were 4. 19 rupees for the quarter, […]
Made in where? Euro MPs want to know where clothes come from
STRASBOURG, May 18, 2010 (AFP) – The European parliament on Tuesday called for clothes sold in Europe to clearly show the country of origin, in order to easily identify products from nations where production costs are low. EU Industry Commissioner Antoni Tajani stressed the need to prevent dumping on European markets. The EU MPs, meeting […]
‘s infrastructure; a tale of two cities
May 18, 2010 (LBO) – Coming from Brasilia to waterlogged Colombo was a shock. Brazil is still not a developed economy, but its capital, Brasilia, definitely does not belong to the developing world. Fifty years ago, a visionary president and architect willed this planned city into being in the Brazilian interior. It looks futuristic even […]
Rains delay Sri Lanka victory parade, 200,000 displaced
May 17, 2010 (AFP) – Heavy rains forced the indefinite postponement of Sri Lanka’s military parade marking the first anniversary of its defeat of Tamil rebels, officials said Monday as flash floods killed four people. The island’s two main monsoon seasons run from May to September and December to February. The victory celebrations scheduled for […]