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Sri Lankan shares up 0.2-pct
June 16, 2009 (LBO) – Sri Lankan stocks lost early gains to close flat Tuesday as the plantations sector retreated from the previous day’s highs, subdued from yesterday’s gains due to profit taking, brokers said. Agalawatte Plantations closed at 24.75 rupees, up 1.00, while Madulsima Plantations closed at 15.25 rupees, up 50 cents. Maskeliya Plantations […]
Not Yet
June 16, 2009 (LBO) – Sri Lanka’s central bank which offered a third stake of Seylan Bank to a private investor has not awarded it to the sold bidder by Lanka Orix Leasing Company (LOLC) by the previously set deadline of June 16. Among those who expressed interest was cash rich National Development Bank and […]
Constant Vigil
June 16, 2009 (LBO) – Sri Lankan depositors should be more vigilant as hundreds of smaller unregulated financial firms are still in existence despite the collapse of a few high profile firms, officials said. “Those who invested in unregulated companies will not get their money back because there is no money to give. Going to […]
State Club
June 16, 2009 (LBO) – The clubhouse of a golf course which was ordered in to state hands by court over corruption charges is operating as a hotel and starting to generate profits, an official said.The Water’s Edge golf course in Colombo was ordered returned to the state and its clubhouse is now run by […]
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MUMBAI, June 16, 2009 (AFP) – A Bollywood director said Tuesday he wants to make a film based on alleged racist attacks on Indian students in Australia, despite an unofficial boycott of the country by his movie colleagues. Megastar Amitabh Bachchan rejected an honorary degree from Brisbane University, telling the authorities that it would be […]
Sri Lanka apparel maker in post-war manufacture
June 16, 2009 (LBO) – Brandix, a top Sri Lankan apparel maker, is planning to boost production at a factory built in Batticaloa, a former war-torn area in the east of the island where ex-female Tiger combatants are also working, an official said.“Our current production is 20,000 pieces and we want to push it up […]
” struggle for separate state
June 16, 2009 (AFP) – The few surviving leaders of Sri Lanka’s defeated Tamil Tigers announced Tuesday they were reorganising the rebel movement and forming a “transnational government.” The rebel group’s international relations chief, Selvarasa Pathmanathan, said in a recorded message that the organisation would continue to pursue its aim of a separate Tamil state […]
Gas Diplomacy
June 16, 2009 (LBO) – The Netherland’s envoy to Sri Lanka has raised concerns about the government pricing of liquefied petroleum gas of top Dutch firm Shell Gas, consumer affairs minister Bandula Gunewardene said. Shell has previously attracted criticism for charging high fees for its terminal complex. The minister said he had promised a meeting […]
Sri Lanka central bank cut rates to boost post-war recovery
June 16, 2009 (LBO) – Sri Lanka cut its main policy discount rate by 50 basis points to 11.00 percent to boost credit and support post war economic recovery, amid muted inflation, the Central Bank said. The defeat of Tamil Tigers last month has raised expectations of post war reconstruction and recovery. “The renewed business […]
Sri Lankan stocks up 1.40-pct
June 15, 2009 (LBO) – Sri Lankan shares gained on Monday pushed up by the blue chips counters headed by conglomerate John Keells Holdings (JKH)and high retail interest in construction, hotels and plantations sectors, brokers said. Malwatte valley Plantations closed 33.00 rupees, up 4.25, while Udapussellawa Plantations closed at 27.00 rupees, up 3.50. Agalawatte Plantations […]