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‘s treatment of journalist
August 26, 2008 (AFP) – Rights groups on Tuesday denounced Sri Lanka’s use of tough prevention of terrorism laws against a veteran journalist reporting on the island’s decades-old ethnic conflict. The condemnation came a day after authorities formally charged J.S. Tissanayagam with inciting racial hatred and bringing disrepute to the government. The journalist, who has […]
Sri Lank foreign direct investments dominated by telecoms
Aug 26, 2008 (LBO) – Sri Lanka’s foreign direct investment (FDI) flows in the first six months of the year reached 425 million US dollars with telecoms bringing in most of the money, the investment promotion office said.Sri Lanka’s telecom firms have been pouring billions into network expansion in the last few years, but the […]
Sri Lanka stocks edge lower; investors hope for oil tonic
Aug 25, 2008 (LBO) – Sri Lankan stocks weakened further Monday with brokers saying the only hope for an immediate recovery being a cut in fuel prices now that global crude oil prices were on the decline. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 […]
Costly Interest
Aug 25, 2008 (LBO) – Sri Lanka’s DFCC Vardhana bank after-tax profits fell 69.5 percent to 16.3 million rupees in the quarter ended June 2008 as interest expenses took their toll of the bottom line, interim accounts showed. A subsidiary of the DFCC Bank, Vardhana bank’s revenue shot up 52.6 percent to 787.4 million rupees […]
First Half
Aug 25, 2008 (LBO) – Sri Lanka’s state-run People’s Bank group net profits fell 5.7 percent to 1,484 million rupees in the half year to June 2008, with incomes taxes more than doubling in the period, interim accounts showed. At bank level interest margin fell to 4.4 percent from 4.6 percent, return on assets to […]
Informed Public
Aug 25, 2008 (LBO) – A top Sri Lankan judge has called for laws such as a freedom of information act to enable people greater access to information to create an ‘informed public’ that is essential for a democratic society. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and […]
‘s Janashakthi Insurance recovers in first half
Aug 25, 2008 (LBO) – Sri Lanka’s Janashakthi Insurance Company recovered to post a profit of 82.2 million rupees for the first half of 2008, from a loss of 0.5 million a year ago, interim results released to the stock exchange showed. Janashakthi Insurance earnings per share increased to 0.37 rupees during the 6-month period […]
”: Bank of England official
LONDON, August 25, 2008 (AFP) – The Bank of England’s new deputy governor warned on Monday that the global financial slowdown could “drag on for some considerable time”. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 Charles Bean said that every time the markets began […]
Toyota hikes car prices for first time in 30 years
TOKYO, August 25, 2008 (AFP) – Toyota Motor Corp.said Monday that it will raise the prices of some passenger cars in Japan for the first time in three decades in response to skyrocketing steel costs. To receive instant alerts from LBO on your Dialog mobile type ‘act (space) lbo’ and send to 678 The move […]
US subprime crisis: all aboard the foreclosure bus
CENTREVILLE, August 25, 2008 (AFP) – Have a little money saved up?A few hours to kill? Why not take a new kind of tour — to peruse the bank-seized properties of homeowners fallen on hard times?The tour is free, soft drinks and donuts are included, and you might just make a killing on the wounded […]