All Blogs
Rail Freight
April 28, 2009 (LBO) – Sri Lanka’s state-run railway service has started a goods wagon repair workshop aimed at improving maintenance and more carriage of freight in order to increase revenues, senior officials said.Transport Minister Dallas Alahapperuma said the government wants to reverse years of neglect of the railway that has reduced it to making […]
Merchant Deal
April 28, 2009 (LBO) – Merchant Bank of Sri Lanka (MBSL) said it had almost completed a deal to take control of Ceylinco Savings Bank, a member of the troubled Ceylinco group, for 100 million rupees.MBSL, a unit of state-run Bank of Ceylon, had been in talks with the banking regulator, the Central Bank, to […]
” by Sri Lanka to deny Swedish FM visa: EU
LUXEMBOURG, April 28, 2009 (AFP) – The European Union lashed out on Tuesday at Sri Lanka’s decision to deny a visa to Swedish Foreign Minister Carl Bildt, describing the move as a “grave mistake” and warning Colombo of repercussions.“It is lamentable that the Sri Lankan government denied him a visa,” Czech Foreign Minister Karel Schwarzenberg, […]
Sri Lanka on alert for swine flu
April 28, 2009 (AFP) – Sri Lanka’s airports and hospitals have been put on alert for swine flu, a health official said Tuesday. “The country has been put on alert for a possible outbreak of swine influenza,” said Paba Palihawadana, the chief epidemiologist at the state-run epidemiology unit. Surgical masks and medicines have been distributed […]
Sri Lanka stocks open up, rupee steady
April 27, 2009 (LBO) – The Sri Lanka rupee opened at 120.10/40 against the spot dollar Monday dealers said, while stocks opened 0.46 percent up, following week of strong gains. Seylan Bank, of which 33 percent is being sold to a strategic partner by the Central Bank opened up 1.00 rupees at 39.75. Sampath opened […]
Sri Lankan stocks dip, rupee steady against dollar
Apr 27, 2009 (LBO) – Sri Lanka shares shed some of last week’s gains to close down across the board Monday due to profit taking, as the rupee remained steady against the dollar, brokers and traders said. Conglomerate John Keells Holdings, which has interests in transport, finance, property development, retail and food processing sectors, gained […]
Asset Sale
April 27, 2009 (LBO) – Sri Lanka’s Ceylinco Finance said it has decided to sell some of its assets to raise funds to improve its liquidity position.“The company made a decision to divest certain selected businesses and assets including property in Colombo, and land and buildings in suburban areas,” the company said in a stock […]
Top Marks
April 27, 2009 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said its Bangladesh operations have been given an ‘A’ rating by the banking regulator in that country. Last year, the Commercial Bank’s operations in Bangladesh was awarded a rating of AA+ for long term credit, an upgrade from the previous rating of AA, by […]
Fast Track
April 27, 2009 (LBO) – Sri Lanka’s Supreme Court has ordered a list of assets of the failed Golden Key Credit Card Company and its directors to be filed by May 11, to be seized and sold to repay depositors, lawyers said. Golden Key, a unit of Sri Lanka’s Ceylinco group collapsed in December 2008, […]
Panic in Mexico, US as killer swine flu fears cross globe
MEXICO CITY, April 27, 2009 (AFP) – World health officials on Monday stepped up the battle against a new swine flu blamed for dozens of deaths in Mexico, after the US declared a public emergency amid signs the disease was spreading. Panic grew in Mexico as citizens heeded government warnings to avoid contact with each […]