All Blogs
Bunker Supply
Sept 11, 2008 (LBO) – Ship fuel prices at Colombo port could fall by around five percent after a tank farm previously operated by one player is converted to a common storage facility, a supplier has said.Lanka Marine Services (LMS), a unit of John Keells Holdings was ordered to return a tank farm and land […]
Foreign Unit
Sept 11, 2008 (LBO) – Sri Lanka’s Commercial Bank said the long term credit rating of its Bangladesh unit had been upgraded by one notch to AA+ from AA, by Credit Rating Information and Services Ltd (CRISIL). CRISIL had given it a ST-1 short term rating. Commercial Bank of Ceylon had bought Credit Agricole lndosuez […]
Sri Lanka state budget airline asks for more cash
Sept 11, 2008 (LBO) – Sri Lanka’s troubled state-run budget carrier Mihin Air is to ask for another three billion rupees in peoples’ money in the next budget to revive operations, an official said.The airline is now without aircraft after having lost its start-up capital and also money borrowed from state-run Bank of Ceylon, and […]
Kuwaiti shares nosedive on cash drain
KUWAIT CITY, September 11, 2008 (AFP) – Kuwaiti stocks ended the week through Thursday down six percent on lack of cashflow drained by huge IPOs and a strict monetary policy to combat inflation, analysts said. The Kuwait Stock Exchange (KSE) Index finished the week at 13,123.90 points, the lowest level in eight months. The index […]
‘t agency
WASHINGTON, September 11, 2008 (AFP) – US Department of the Interior employees who handled billions of dollars in oil contracts improperly engaged in sex with energy company employees, a report released Wednesday said. The report drafted by the department’s inspector general Earl Devaney deplored “a culture of ethical failure” and said the investigation uncovered a […]
Major quake shakes northern Japan, tsunami warning
TOKYO, September 11, 2008 (AFP) – A 7.0 magnitude earthquake shook northern Japan on Thursday, the Japan Meteorological Agency said, which warned of mild tsunami seismic waves. The undersea earthquake occurred at 9:21 am (0021 GMT) about 20 kilometres deep (12.4 miles) off Hokkaido island’s Tokachi region, some 700 kilometres north of Tokyo, the agency […]
‘s Mendis named ICC emerging player of the year
DUBAI, September 10, 2008 (AFP) – Sri Lanka’s new spin sensation Ajantha Mendis was named as the International Cricket Council (ICC) emerging player of the year at an awards ceremony here Wednesday.Players eligible for this award must be under 26 years of age at the start of the voting period (August 9 2007) and have […]
Exploration Spend
Sep 11, 2008 (LBO) – Cairn India said its Sri Lanka unit had signed a deal with Sri Lanka’s investment promotion office to cover a 110 million US dollar oil exploration program. The company was given an off-shore exploration block in the north western Mannar Basin of the island. “The Mannar basin is a frontier […]
Sri Lanka treasuries rates edge lower
Sept 10, 2008 (LBO) – Sri Lanka’s 12-month treasury bill yield fell 16 basis points to an average of 18.34 percent and 6-month bills fell 30 basis points to 17.45 percent at Wednesday’s auction, the government’s debt office said. The debt office which is a unit of the central bank said 8,000 million rupees of […]
Bunker Business
Sept 10, 2008 (LBO) – Sri Lanka’s John Keells group said its bunkering unit Lanka Marine Services (LMS) will continue to supply bunkers at Colombo port with a tanker and would also use the proposed common user facility to continue in business. “LMS will also continue to provide bonded storage and delivery services of marine […]