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Wider Margins
May 06, 2010 (LBO) – Sri Lanka’s Seylan Bank group has reported profits of 195.5 million rupees in the March 2010 quarter from break-even levels a year earlier with wider interest margins boosting the bottom line. Group interest income fell 34.6 percent to 4,052 million rupees, but interest expenses fell at a faster 54.6 percent […]
Selling Down
May 06, 2010 (LBO) – Sri Lanka’s listed Sampath Bank has sold down more of its stake in a Bangladesh finance firm, the bank said in a series of disclosures in the Dhaka stock exchange. On April 19 Sampath Bank as a corporate sponsor of the LankaBangla Finance said it had sold a total of […]
Future Challenge
May 06, 2010 (LBO) – Students of the science faculty of Sri Lanka’s Colombo University and the Rotaract Club have teamed up to bring students closer to the island’s corporate sector. The organizers say cubicles with lighting and fans and refreshment will be provided for company representative to interview undergraduates. Waiting rooms will have projectors […]
Sri Lanka coastal lagoons threatened by mangrove planting: researcher
May 06, 2010 (LBO) – Sri Lanka’s coastal lagoons could be threatened by rapid sedimentation as a side-effect of fresh mangroves planted by humans for protection against a possible future tsunami, a researcher has warned. “However this activity ranked highest among investments made both by government and non-governmental organizations,” Samarakoon told a forum organized by […]
Sri Lanka to send team for talks on GSP trade deal
May 06, 2010 (LBO) – Sri Lanka is to dispatch a team of officials to Brussels later this month to try to extend a key European Union trade deal that is to be withdrawn on human rights concerns, an official said. Foreign Minister Gamini Peiris told parliament the team for talks on May 20-21 will […]
Sri Lanka ex-army chief vows to expose war crimes
May 6, 2010 (AFP) – Sri Lanka’s ex-army chief Thursday vowed to “expose” any war crimes committed during the end of the country’s civil war last year and said he would go “out of his way” to assist with a probe. General Sarath Fonseka, who fell out with President Mahinda Rajapakse and quit after successfully […]
Sri Lanka appoints new deputy finance minister
May 05, 2010 (LBO) – Sri Lankan president and finance minister Mahinda Rajapaksa has appointed Sarath Amunugama, a former cabinet minister, as deputy minister of finance and planning, the president’s office said in a statement. Amunugama was among four cabinet ministers and six deputy ministers sworn in Wednesday following parliamentary polls in April won by […]
Sri Lanka Treasuries yields fall
May 05, 2010 (LBO) – Sri Lanka Treasury bill yields eased at Wednesday’s auction despite the government raising an additional billion rupees than the maturing stock, the government’s debt office said. The 3-month yield fell 16 basis points to 8.24 percent with only a billion rupees of bill being sold and the 6-month yield fell […]
Sri Lankan stocks close 0.3-pct up
May 05, 2010 (LBO) – Sri Lankan stocks closed 0.34 percent higher Wednesday as investors scrambled for Nawaloka Hospitals shares after it sold a large stake of Galadari Hotel which had hurt the hospital group’s balance sheet earlier, brokers said. The All Share Price Index closed at 4,219. 76, up 14.25 points while the Milanka […]
Regional Visit
May 05, 2010 (LBO) – HSBC’s Asia Pacific head of corporate real estate, Richley Featherstone is visiting Colombo to meet senior management and the head of the bank’s operations in Sri Lanka and Maldives. The corporate real estate department acts as the custodian of HSBC premises providing the right property at the right time to […]