All Blogs
India summer crops may be 20 pct below normal: govt
NEW DELHI, August 27, 2009 (AFP) – India could record a 15 to 20 percent crop shortfall due to widespread drought caused by a bad monsoon, the finance minister said Thursday.Some 252 out of India’s 626 districts have been hit by drought as a result of the weak June-to-September monsoon that is running at 26 […]
Sri Lankan army calls execution video a fabrication
August 26, 2009 (AFP) – Sri Lanka’s military on Wednesday said a disturbing video clip broadcast in Britain allegedly showing its troops executing prisoners was a fabrication designed to “discredit” its armed forces.The footage, aired by Channel 4 in Britain, was apparently shot during the final stages of the army’s defeat of Tamil Tiger separatists, […]
Sri Lankan airlines loses Rs10bn
Aug 27, 2009 (LBO) – Sri Lankan Airlines group has lost 9.99 billion rupees in the year to March 2009, down from a profit of 4.9 billion rupees a year earlier as revenue fell amid a global downturn and falling tourism arrivals at home. Sri Lankan Airlines group also has a catering subsidiary. At stand […]
Sri Lanka war, BOP crisis no longer hurt rating; budgets a problem: Fitch official
Aug 27, 2009 (LBO) – Sri Lanka’s internal conflict and a balance of payments crisis that led to a rating downgrade and a negative outlook have now been wiped off the slate, but weak state revenues and high national debt are hurting Sri Lanka’s rating, a senior Fitch official said. In April 2008, Fitch downgraded […]
Sri Lanka T-bill yeilds frozen for third week
Aug 26, 2009 (LBO) – Sri Lanka’s Treasury bill yields were frozen at the weekly auction for the third week running, in auction where 10.1 billion rupees out of a maturing 12.0 billion was sold to the market, the government’s debt office said.The 3-month yield stayed at 10.57 percent, the 6-month yield at 11.43 percent […]
Sri Lankan stocks up 0.22-pct
Aug 26, 2009 (LBO) – Sri Lankan shares closed up on Wednesday as investors eyed selected blue chip and hotel counters looking to profit from a possible resurgence in the medium term, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.22 percent (5.59 points) to end at 2,553.03 while the Milanka […]
Ship Arrest
Aug 26, 2009 (LBO) – An Indian-owned container vessel arrested by Sri Lankan port authorities for non-payment for fuel supplies has been released after the owners paid the supplier. The High Court of Colombo ordered the arrest of MV Gati Pride on August 14 after ship fuel supplier Lanka Maritime Services sought its detention saying […]
Sister Ship
Aug 26, 2009 (LBO) – Sri Lanka’s Mercantile Shipping Company, a listed ship owner, said it will take delivery of its second newly built cargo ship in November.The first of a pair of new cargo ships built by a Dutch yard and named Mercs Uva was delivered last month and has already been charted out, […]
‘s Aitken Spence eyes health tourism, new resorts
Aug 26, 2009 (LBO) – Sri Lanka’s Aitken Spence Hotels is expanding the profitable health tourism business and plans new resorts on prime beach properties kept dormant during the ethnic war, a senior official said. “The Maldives as a whole has experienced a downturn because of the global economic turmoil.But we’re seeing a recovery and […]
Big Deal
Aug 26, 2009 (LBO) – The acquisition of a big stake in Sri Lanka Telecom, the island’s dominant fixed-line operator, by Malaysia’s Global Telecommunications Holdings NV has been nominated for a global mergers and acquisition award. The nomination has been made under the Media, Entertainment or Telecom Deal of the Year category of the awards […]