All Blogs
Sri Lanka shares head down, ignore battlefield gains
Nov 24, 2008 (LBO) – Sri Lankan stocks began the week on a dreary note with the market continuing its downward march Monday on low trading volumes and brokers saying the bearish trend could continue.Liyanage said investors were also shifting funds from equities to debt, where returns are higher, but find they are stuck in […]
CEO forum
Nov 24, 2008 (LBO) – Sri Lanka’s Hatton National Banks (HNB) micro finance default rate is lower than the bank average default rates due to the shame factor and peer pressure from villagers, says managing director Rajendra Theagarajah. He says there’s a myth that if the business is from the bottom of the pyramid, the […]
LBR-LBO CEO Forum
Nov 24, 2008 (LBO) – Sri Lanka’s Hatton National Banks (HNB) micro finance default rate is lower than the bank average default rates due to the shame factor and peer pressure for villagers, says managing director Rajendra Theagarajah. He says there’s a myth that if the business is from the bottom of the pyramid, the […]
Capital Raising
SINGAPORE, November 24, 2008 (AFP) – British-based Standard Chartered bank said Monday it plans to raise 1.78 billion pounds (2.66 billion US dollars) in a rights issue to better position itself during the global financial turmoil. Standard Chartered, which is listed in Hong Kong and London, says more than 90 percent of its operating income […]
Bailout
WASHINGTON, November 24, 2008 (AFP) – The US government late Sunday vowed to protect struggling banking giant Citigroup against “unusually large losses” and give it 20 billion dollars from a financial rescue package approved by Congress. The announcement came after the Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation reached an agreement with Citigroup […]
Sri Lanka heavy fighting kills scores
November 24, 2008 (AFP) – At least 27 soldiers and 120 Tamil Tiger rebels were killed as government forces battled their way to the outskirts of the rebels’ political headquarters, the defence ministry said on Monday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Heavy fighting raged […]
Sri Lankan Airlines resumes flights to Rome
Nov 24, 2008 (LBO) – Sri Lankan Airlines said it will resume flights to Rome from December 3, 2008, its first new destination since the management of the national carrier returned to the government in April. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The airline said […]
Street Fight
Nov 23, 2008 (LBO) – Top Sri Lankan celcos are slashing prices ahead of the entry of a fifth operator to the market, in a street fight that analysts say is set to haemorrhage bottom lines of the entire sector. In the last quarter Mobitel, a unit of fixed access provider Sri Lanka Telecom, and […]
Sri Lanka fighting spreads to key highway near Tiger HQ
November 23, 2008 (AFP) – Helicopter gunships attacked Tamil Tiger rebel positions in northern Sri Lanka as battles shifted onto a key highway leading to the rebels’ political capital, the defence ministry said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Helicopters were deployed to pound rebel […]
Risky Waters
ATHENS, November 22, 2008 (AFP) – A Greek-owned chemical tanker freed by Somali pirates was heading for Saudi Arabia Saturday, Greece’s merchant shipping ministry said. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 The pirates had released the Liberian-flagged MV Genius on Friday after holding […]