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Sri Lankan finance firm sells money broking unit
Jan 12, 2010 (LBO) – Sri Lanka listed Nation Lanka Finance Limited said it had sold its money broking unit, CSF Money Brokering Company, to unlisted Navara Capital for 9.24 million rupees. Nation Lanka Finance had sold 85.71 percent of the money broker, the firm said in a stock exchange filing. The statement said Navara […]
Sri Lankan stocks close 0.7-pct lower
Jan 12, 2010 (LBO) – Sri Lanka stocks closed down Tuesday as index heavy banking sector pulled the market down, while trading in conglomerate John Keells Holdings (JKH) boosted turnover, brokers said. National Development Bank closed at 204.25 rupees, 3.00 down, and DFCC bank closed at 168. 00 rupees, down 1.75. The All Share Price […]
‘s Bharti acquires control of Bangladesh telecom firm
MUMBAI, January 12, 2010 (AFP) – India’s biggest mobile phone firm Bharti Airtel on Tuesday announced it will acquire a 70 percent stake in Bangladesh-based Warid Telecom, signalling the company’s strong global ambitions. The move into Bangladesh by Bharti comes after its plan to ally with South Africa’s MTN to create an emerging market telecom […]
Sri Lanka president offers pre-vote concessions to Tamils
January 12, 2010 (AFP) – Sri Lanka’s president on Tuesday offered concessions to ethnic Tamil demands for greater autonomy ahead of elections in which the minority community could play a decisive role. But as the architect of the military victory, Fonseka can also lay claim to credit for ending the conflict. Fonseka has offered to […]
‘s miracle
Jan 12, 2010 (LBO) – Sri Lanka’s president Mahinda Rajapaksa said he wanted to make Sri Lanka ‘Asia’s miracle’ if elected to a second term and also vowed to combat corruption, a key battle cry of the island’s opposition. “We want to change people leaving the country and make it an attraction for people,” Rajapaksa […]
‘s speech to the business community
Jan 12, 2010 (LBO) – Sri Lanka’s common opposition candidate for upcoming presidential polls, retired general Sarath Fonseka met the business community Tuesday. The following is the prepared text of his speech. The nation’s wealth is being squandered on self- perpetuating projects that are both wasteful and meaningless. Billions have been lost due to corruption, […]
Sri Lanka opposition says politicians could be taxed
Jan 12, 2010 (LBO) – Sri Lanka’s opposition says the issue of politicians being taxed could be looked at early in a future new administration if common candidate ex-general Sarath Fonseka becomes president. Fonseka who is backed by both the United National Party and Marxists Janatha Vimukthi Peramuna has promised the 10,000 rupee salary hike […]
‘s war-torn areas to get more funds: World Bank
Jan 12, 2010, (LBO) – Sri Lanka’s war torn areas would get more World Bank funds this year as the region recovers from a 30-year war, with a little over 250 million US dollars already approved, country director Naoko Ishii said. “We have another four programs which will go for board approval when negotiations are […]
Sri Lankan shares close flat
Jan 11, 2010 (LBO) – Sri Lankan shares closed flat Monday as investors continued to bet on hotel, property and plantation stocks while retailers took profits on selected blue chip companies, brokers said. Balangoda Plantations closed at 25.75 rupees, up 75 cents, Bogawantalawa Tea Estates closed at 40.75 rupees, up 1.50, Horana Plantations closed at […]
Northern Links
Jan 11, 2010 (LBO) – Sri Lanka and India has inked a deal to rebuild part of a railway link to the island’s north while negotiations are under way to China to complete the balance, an official said. “India has extended a 425 million dollar concessional credit line and this is part of Indian government […]