All Blogs
Lube Luck
May 25, 2009 (LBO) – Sri Lanka’s Chevron unit said net profit for the March 2009 quarter fell 33 percent to 233 million rupees from a year ago with sales virtually stagnant in a slowing economy.Chevron Lubricants Lanka said in a stock exchange filing that sales for the three months ended March 31, 2009 were […]
Bare Facts
May 23, 2009 (LBO) – The primary objective of a central bank is to stabilise the value of its currency and continue to maintain that stability to facilitate long term economic growth. There could be other ancillary objectives assigned to a central bank, such as providing liquidity to the government to bridge its revenue and […]
Foreign institutions invest over US$3bn in Indian bourses in 2009
NEW DELHI, (Asia Pulse) – Foreign Institutional Investors’ (FIIs) inflow into the Indian stock markets has crossed the US$3 billion mark (over Rs 15,725 crore) so far this year, with as much as US$2 billion coming in just five trading sessions. Since the beginning of new fiscal year, FIIs have started putting money in domestic […]
Australian navy intercepts refugee boat: minister
MELBOURNE, May 24, 2009 (AFP) – The Australian navy intercepted a refugee boat with 77 people aboard Sunday off the country’s northwest coast, Home Affairs Minister Bob Debus said. The boat is the 13th suspected people-smuggling craft to have been stopped in Australian waters or to have made landfall since January, prompting criticism from the […]
Sri Lanka to restrict aid until rebels screened out
May 24, 2009 (AFP) – Sri Lanka said Sunday it would not allow aid workers complete access to civilians who remain held in camps after the defeat of the Tamil Tigers until rebels hiding among the refugees had been weeded out.United Nations Secretary General Ban Ki-moon, on a visit to one camp housing 200,000 Tamils, […]
Sri Lanka says aid access only after screening
May 24, 2009 (AFP) – Sri Lanka said Sunday it would allow UN aid workers access to civilians who remain in camps after the defeat of the Tamil Tigers, but only once rebels hiding among the refugees had been weeded out.UN Secretary General Ban Ki-moon, on a visit to one camp housing 200,000 Tamils, had […]
China releases stimulus spending data
BEIJING, (Asia Pulse) – China’s economic planning body released a breakdown Thursday of how the government’s 4 trillion yuan (US$586 billion) of stimulus funding was being spent. Since the stimulus package was unveiled in November, 230 billion yuan had been used as of the end of April, the National Development and Reform Commission (NDRC) said […]
Deck Hands
May 23, 2009 (LBO) –Sri Lanka’s ministry of port’s and aviation has signed an agreement with the government of Japan to recognize the certification of the island’s seafarers. The move will provide opportunities for Sri Lankan to work on Japanese flagged ships in future, the government’s Cabinet office said. At the signing of the agreement, […]
Double Profits
May 23, 2009 (LBO) – Sri Lanka’s state-run Bank of Ceylon’s profits for March 2009 quarter rose 106 percent to 957 million rupees, with foreign exchange gains and interest income from high yielding government securities. Bank of Ceylon’s deposits grew 5.1 percent to 332 million from December 2008 to March 2009. Group gross assets grew […]
Guardian Change
May 23, 2009 (LBO) – The Merchant Bank of Sri Lanka (MBSL) has been appointed as managing agents of the troubled The Finance Company (TFC), taking over from another state-owned entity, Lankaputhra Development Bank (LDB), the Central Bank said. It said in a statement that Lankaputhra Bank had stabilized the situation at TFC and brought […]