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Hatton Performance
Mar 10, 2009 (LBO) – Sri Lanka’s Hatton National Bank group has reported profits of 3,830 million rupees in 2008, down 10.1 percent over the previous year on interest income of 38.7 billion rupees which grew 20.7 percent. Loan loss provisions increased 27.6 percent to 1,159 million rupees, while 259 million rupees was charged for […]
No Problem
Mar 10, 2009 (LBO) – Managers of Sri Lanka’s state-run pension fund of private sector workers, under fire for investing funds for state purposes as a ‘captive’ source, have said the fund is operating well. In an interview, officials managing the EPF denied all suggestions of impropriety, conflict of interest, or coming under pressure to […]
Sri Lanka aims to be South Asian shopper paradise
Mar 10, 2009 (LBO) – Sri Lanka’s biggest state bank has proposed a bold project to make the island a Dubai-style duty free shopping mecca for the billion-plus consumers on the Indian sub-continent. Gamini Wickramasinghe, chairman of Bank of Ceylon (BOC), said much revenue can be generated by enticing visitors from the region, exploiting the […]
Sri Lanka govt vows to crush Tigers after suicide bombing
March 10, 2009 (AFP) – Sri Lanka’s government on Tuesday vowed to finish off the Tamil Tiger guerrilla rebels who were blamed for a suicide bomb that killed 15 people and badly injured a senior politician. There has been no reaction from the guerrillas, who have launched scores of similar suicide bombings in the past.Tuesday’s […]
Fifteen dead, minister hurt in Sri Lanka suicide attack
March 10, 2009 (AFP) – At least 15 people were killed Tuesday and another 60, including a government minister, were wounded in a suicide bombing in southern Sri Lanka blamed on Tamil Tiger rebels, officials said. The attacker targeted politicians attending a function at a mosque in the town of Akuressa, and came as the […]
Ten killed in Sri Lanka blast: policee
March 10, 2009 (AFP)- At least 10 people were killed Tuesday and another 25, including two ministers, were wounded in a suicide bomb attack in southern Sri Lanka, a local police official said. Telecommunications minister Mahinda Wijesekara and Cultural Minister Mahinda Yapa Abeywardena were wounded, the official said.He said Wijesekera was in intensive care at […]
Sri Lanka coach fears Commonwealth Games a target
MELBOURNE, March 10, 2009 (AFP) – Sri Lanka cricket coach Trevor Bayliss voiced fears on Tuesday that extremists would target next year’s Commonwealth Games in India and backed criticism of security arrangements in Pakistan. He supported criticism from match officials travelling in a minibus behind Sri Lanka’s team bus in Lahore that security was inadequate. […]
Sri Lanka EPF pension fund may allow early withdrawal
Mar 09, 2009 (LBO) – Sri Lanka’s Employee’s Provident Fund (EPF) which forcibly takes a part of the salary of a private sector worker for ‘management’ by the state may allow partial withdrawals of balances if new proposals become law, officials said. Up to now desperate private workers hit by high inflation created in the […]
Sri Lanka shares close flat
Mar 09, 2009 (LBO) – Sri Lankan stocks closed flat on Monday on thin volumes, with some Ceylinco group companies which are slated for management changes or take-over moving up, brokers said. The Colombo All Share Price Index edged up 0.18 percent (3.0 points) to end at 1,630.70 while the Milanka index of liquid stocks […]
No Kidding
Mar 09, 2009 (LBO) – One day a wealthy Englishman travels to Italy on business.While there he decides to buy a hand-crafted cupboard to furnish his new summer home in Spain.He visits an exclusive store in Rome, which sells furniture sourced from a small carpentry workshop in Morocco.This furniture is fabricated from wood imported from […]