All Blogs
” slowdown in global economy
WASHINGTON, April 3, 2008 (AFP) – International Monetary Fund managing director Dominique Strauss-Kahn said Thursday he sees a “major” slowdown in the global economy this year amid a credit market crisis. “What is certain is that the situation is very serious and that the slowdown in the United States, and subsequently in the rest of […]
Merrill Lynch chief sees no need for more capital: report
TOKYO, April 4, 2008 (AFP) – New Merrill Lynch chief executive John Thain said he saw no need for the US investment bank to raise fresh capital, in an interview with Japan’s Nikkei business newspaper published on Friday. He also said there were no plans to sell Merrill, which previously got an infusion of 12.8 […]
Sri Lanka rescued by Dilshan and Silva century stand
PORT OF SPAIN, Trinidad, April 3, 2008 (AFP) – An unbroken stand of 100 for the sixth wicket between Tillakeratne Dilshan and Chamara Silva helped Sri Lanka recover on the rain-marred opening day of the second and final Test against West Indies on Thursday.Dilshan was unbeaten on 58 and Silva was not out on 37, […]
Fresh split in Sri Lanka Marxist-nationalist party
April 04, 2008 (LBO) – A split in Sri Lanka’s Marxist-nationalist Janatha Vimukthi Peramuna (JVP) is emerging with moves to oust its firebrand spokesman Wimal Weerawansa, party insiders said Friday. But Weerawansa said he had not been informed of a decision to remove him, amid reports that the party’s central committee has voted to replace […]
Sri Lanka Tamil Tigers contest provincial council election
April 04, 2008 (LBO) – Sri Lanka’s Tamil Tigers have entered the contest in provincial council elections in the east with a last-minute filing of nomination papers through a proxy party, media reports said. The Liberation Tigers of Tamil Eelam (LTTE) political wing, the People’s Front of Liberation Tigers (PFLT) submitted nominations for the polls […]
Oil Deal
April 04, 2008 (LBO) –Sri Lanka is seeking to renew its long-term crude oil supply contract with Iran and wrap up financing to expand its refinery during a visit this week by senior government officials to Teheran. Treasury Secretary P B Jayasundera and Ashantha de Mel, chairman of the state-oil refiner Ceylon Petroleum Corporation, are […]
Sri Lanka stocks close flat, telecom interest continues
April 03, 2008 (LBO) – Sri Lanka stocks closed flat while continued interest in Sri Lanka Telecom propped up turnover Thursday.The stock market’s All Share Index closed flat at 2,629.50 points while the more liquid Milanka Index closed 0.15 percent (4.99 points) lower at 3,310.87 points. Over 1.77 million Sri Lanka Telecom shares were traded […]
Life Market
April 03, 2008 (LBO) – Sri Lanka’s Sampath Bank launched a life insurance policy scheme for its customers Thursday in a tie-up with Eagle Insurance, saying it wants to further diversify its financial services. The bank, which has already diversified into leasing and stock brokering and general insurance, said its entry into life insurance will […]
Shanghai Profits
April 03, 2008 (LBO) –Hong Kong Shanghai Bank Corporation’s Sri Lanka branch reported sharply lower profits for 2007 largely owing to losses from foreign exchange transactions while bad loans are on the rise. The bank’s profit for 2007 fell 36.63 percent to 1.57 billion rupees, according to published annual accounts. Interest income, however, increased by […]
Emirates starts flying first class to Sri Lanka
April 03, 2008 (LBO) – Emirates airlines said it had started first class services to Sri Lanka on selected flights after it started operating new Boeing 777 aircraft on the Dubai-Colombo run from March 31. On Mondays and Thursdays the airline will make available up to 14 first class seats. “The return of First Class […]