All Blogs
Housing Woes
May 30, 2008 (LBO) – Sri Lanka’s Housing Development and Finance Corporation’s (HDFC’s) profits fel 90 percent in the March quarter amid rising interest expenses and a fall in other income, the group’s interim results showed. The group after tax profit dropped to 11.38 million rupees in the quarter ended March 2008, from a previous […]
Fined
May 30, 2008 (LBO) – Sri Lanka securities watchdog said Nawaloka director Jayantha Dharmadasa has been fined over a price manipulation case involving the shares of a hospital firm. The Securities and Exchange Commission said in a notice that Dharmadasa had been fined 3.3 million rupees following a request to ‘compound’ a case a under […]
Sri Lanka captures rebel base: military
Sri Lankan troops have captured a Tamil Tiger base in the island’s north after three days of heavy fighting which left seven guerrillas and one government soldier dead, the defence ministry said Friday.It said ground troops captured “Munagam Base,” situated six kilometers (four miles) north of the frontlines in the Weli Oya region, on Thursday. […]
‘s Mihin Air seeks cash, merger
May 30, 2008 (LBO) Sri Lanka’s grounded state-run budget airline has sought an 800,000 dollar cash infusion from the Treasury and may be merged with the national carrier, as part of a restructure plan, officials said.Merger The restructuring plan prepared by state-owned Merchant Bank of Sri Lanka, had also suggested the smaller airline merge with […]
Money printing fuels property bubble in Iran
May 30, 2008 (AFP) – As Iran’s economy is buffeted by inflation, the country’s homeowners are fast becoming richer in a real estate bubble that is driving affordable housing beyond the reach of ordinary citizens.Prices have doubled within a few months in satellite town of Parand and Hashtgerd, 50 kilometres (30 miles) from Tehran, while […]
Japanese man finds woman living in his closet
May 30, Japan (AFP) – A Japanese man puzzled by food mysteriously disappearing from his refrigerator got a shock when he found out a woman had been living in his home for months without permission, police said Friday.The 57-year-old man living alone — or so he thought — in the western city of Fukuoka installed […]
Latest Sri Lanka journalist killing outrageous: rights body
May 30, 2008 (LBO) – An international media rights body said it was outraged by the hacking to death of a Sri Lankan television journalist in the northern Jaffna peninsular along with a friend. “Caught in the crossfire between two armed forces, journalists in the Jaffna peninsula are constantly the targets of threats, kidnappings and […]
Burst Bubble?
May 30, 2008 (LBO) – World oil prices held steady in Asian trade on Friday after sharp falls on concerns over falling demand in the United States and other developed countries, analysts said.New York’s main oil futures contract, light sweet crude for July delivery, was 17 cents lower at 126.45 dollars a barrel after losing […]
‘s inflation hit new high; another index suppressed
May 30, 2008 (LBO) – Inflation in Sri Lanka’s capital hit a new high of 26.2 percent in May up from 25.0 percent on a new index, while an index showing higher inflation was scrapped, the government’s statistics office said. Increases were seen in the food, clothing and footwear, housing and fuels, house maintenance, health […]
Sri Lanka seeks food crisis loan: World Bank
The World Bank is considering giving Sri Lanka a crisis loan to tackle galloping food prices, the global financial institution’s vice president said on Friday.“The fund is targeting some 800 million dollars for countries such as Sri Lanka that have been hit by the food crisis,” Patel said. The solution for Sri Lanka, he said, […]