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Sri Lanka private sector credit falls further: Central Bank
April 23, 2008 (LBO) – Sri Lanka’s private sector credit growth has fallen to 15.8 percent in February from the highs of 25 to 26 percent reach in 2007, but credit to state enterprises should fall further, the Central Bank said. “Although credit to public corporations also declined to 47.5 billion rupees during the month […]
Sri Lanka stocks close higher; Dialog, AMW draw interest
April 22, 2008 (LBO) – Sri Lankan shares edged higher with heavy trading in Dialog Telekom driving turnover past the billion rupee mark and vehicle agency Associated Motorways (AMW) rising sharply on speculative buying, brokers said. All Share price Index went up 10.08 points (0.38 percent) to 2,673.01 while the more liquid Milanka index fell […]
‘s share market picks up on telecom deal
April 22, 2008 (LBO) – Sri Lankan stocks open higher with a 34 million share deal in Dialog Telekom that boosted turnover to 712.7 million rupees in early morning trading.Approximately 34,416,500 shares were traded at 16.50 rupees, brokers said. The deal went through in two ten million chunks, two 4.5 million and a five million […]
Capital Question
April 22, 2008 (LBO) – A shareholder has asked Sri Lanka’s National Development Bank to return its excess capital to shareholders but its management says plans are on to use the money to better effect and the time is not right for a distribution. Mano Nanayakkara, an investment consultant who has a personal stake in […]
Remote Control
April 22, 2008 (LBO) – Sri Lankan technology outsourcing company Eureka is to set up an office in Dubai and also expand its information security, disaster recovery management and remote infrastructure management services (RIM), officials say. “We know the market, carefully researched, we know the problems, problems of development, energy so on, we know the […]
Hard-pegged Hong Kong inflation at 5.3-pct as Federal Reserve prints
HONG KONG, April 22, 2008 (AFP) – Hong Kong’s underlying inflation rate increased to 5.3 percent year-on-year in March, as food costs continued to rocket in the face of global pressure, official figures showed Tuesday. The underlying rate increased from a 5.1 percent figure in February, according to figures released by the Census and Statistics […]
Oil prices hit 118 dollars for first time
LONDON, April 22, 2008 (AFP) – The price of New York crude oil surged past 118 dollars per barrel for the first time on Tuesday, lifted by unrest in key producer Nigeria and the weak dollar, traders said.New York’s main oil futures contract, light sweet crude for delivery in May, struck a new peak at […]
Era of cheap food over: ADB
SINGAPORE, April 22, 2008 (AFP) – The era of cheap food is over, an Asian Development Bank (ADB) official said Tuesday. Rajat Nag, the ADB’s managing director general, said a variety of factors have contributed to soaring food prices which, even if they ease, will not return to the lower levels which the world became […]
Mugabe trying to steal Zimbabwe election: Australia
SYDNEY, April 22, 2008 (AFP) – Zimbabwe’s President Robert Mugabe is trying to steal last month’s election and the so-called recount of votes is a sham, Australian Foreign Minister Stephen Smith said Tuesday.MDC secretary general Tendai Biti has charged that 10 MDC supporters have been killed and thousands forced to flee their homes following attacks […]
Bollywood piracy fighters take battle to US Congress
WASHINGTON, April 21, 2008 (AFP) – Campaigners against piracy in India’s money-spinning entertainment industry, which loses four billion dollars a year to counterfeiters, have taken their battle to the US Congress.“We are losing 90 percent of our home video market in the United States,” veteran Indian filmmaker Bobby Bedi told AFP at a Capitol Hill […]