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‘s Bharti Airtel reports dip in profit
MUMBAI, April 28, 2010 (AFP) – India’s top mobile phone company Bharti Airtel Wednesday blamed an 8. 2-percent fall in its fourth-quarter net profit on “hyper-competition” in its domestic market. Net profit for the three months to March 31 fell on a 12-month basis to 20. 55 billion rupees (46 million dollars) while revenues for […]
Reforms to allow Sri Lanka president to retain power: report
April 28, 2010 (AFP) – Sri Lanka’s ruling party will press ahead with constitutional reforms to allow President Mahinda Rajapakse to run for a third term in office, a press report said Wednesday. With the support of smaller parties and defectors, Rajapakse’s party could soon muster the six seats needed to have the two-thirds majority […]
Sri Lanka Overseas Realty expands amid a property market pick up
Apr 28, 2010 (LBO) – Sri Lankan developer Overseas Realty (Ceylon), a unit of Singapore’s Shing Kwan group said it was starting an expansion of a property project amid a pick up in the property market. Overseas Realty owns the twin tower World Trade Centre building in Sri Lanka’s capital which houses the Colombo Stock […]
Sri Lanka business loans surge in February: data
Apr 27, 2010 (LBO) – Loans from Sri Lanka’s commercial banks to the private business rose 16. 5 billion rupees in February in the biggest monthly gain seen since a credit contraction ended in September, official data shows. Credit to the private sector grew to 1,212. 3 billion rupees in February from 1,195.8 billion rupees […]
Sri Lanka Treasuries yields dip
Apr 27, 2010 (LBO) – Sri Lanka’s 3-month Treasury bill yields dipped 06 basis points to 8.40 percent at Tuesday’s auction, the government’s debt office said. The 6-month yield slid 09 basis points to 9.10 percent while the 12-month yield was down 16 basis points 9. 30 percent. The government’s debt office said it sold […]
Sri Lanka share rally interrupted by profit-taking
Apr 27, 2010 (LBO) – Sri Lankan stocks eased Tuesday, interrupting a near unbroken month-long rally, dragged down by a fall in banking stocks while the price of a plantations company with rubber shot up, brokers said. “Malwatte Valley Plantations rose significantly today given its close to 30 percent exposure to rubber,” said Tissera. Rubber […]
Box Business
Apr 27, 2010 (LBO) – Colombo port container volumes rose 27 percent in the first quarter of 2010 from last year and also exceeded throughput in the same 2008 period before recession hit global trade, the Sri Lanka Ports Authority said. “I firmly believe that our service is the major order qualifying and the order […]
Arrested
THE HAGUE, April 26, 2010 (AFP) – Police arrested seven men in the Netherlands on Monday who are suspected of raising funds for Sri Lankan separatist group the Tamil Tigers, a statement said. “They are suspected of raising funds for the LTTE (Liberation Tigers of Tamil Eelam) through collections, fundraisers, the sale of DVDs and […]
Detention
KUALA LUMPUR, April 26, 2010 (AFP) – Malaysian police Monday said they have detained 75 Sri Lankan migrants who refused to get off a fishing trawler, after three days of talks to persuade them to leave the vessel broke down. The trawler was intercepted off northern Perak state on Friday but the group, including six […]
Switching Calls
Apr 27, 2010 (LBO) – Sri Lanka’s Telecommunications Regulatory Commission (TRC) has called for consultancy services to suggest ways to introduce mobile phone number portability that will allow subscribers to switch networks while using the same number. The assignment will require a “detailed consultation process”, taking in the views of stake holders when formulating the […]