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Oil prices volatile in bubbly trade
NEW YORK, March 28, 2008 (AFP) – World oil prices fell sharply Friday on renewed concern that a slowdown in the US economy would dampen energy demand and on news that damage to an Iraqi pipeline was not as serious as first thought. New York crude values dropped under 106 dollars a barrel, a day […]
Windies legends demand shake-up after defeat to Sri Lanka
PORT-OF-SPAIN, Trinidad, March 28, 2008 (AFP) – West Indies legends Desmond Haynes and Deryck Murray have called for a major shake-up in the structure of cricket in the Caribbean in order to drag the team out of the doldrums. The comments of former Windies captain and opening batsman Haynes, and former vice-captain and wicketkeeper Murray, […]
”: IMF study
Mar 28, 2008 (LBO) – Most of Sri Lanka’s inflation is not ‘imported’ or caused by oil, a major new International Monetary Fund research study has found, indicating that the mainly home grown price rises could be slashed with better economic policies. . The IMF study released Saturday that covers a steep rise in Sri […]
Risk Cap
Mar 28, 2008 (LBO) – Sri Lanka’s central bank has limited the risk premium of one year deposit rates of finance companies to 2.5 percent above Treasury bills, from an existing rate of 3.0 percent, the regulator said. The benchmark rate applicable is the weighted average T-bill rate of the preceding quarter. In 2005 the […]
Private Equity
March 28, 2008 (LBO) – Trading in Sri Lanka’s Sampath Bank shares was halted briefly Friday after the bank announced it was in talks with an international private equity company about a possible investment. Sampath Bank is holding talks with ShoreCap International Ltd. (SCI) regarding a possible investment by ShoreCap in the bank, Sampath said […]
Capital Quiz
March 28, 2008 (LBO) — A quiz on capital markets hosted by investment research outsourcing firm Amba Research is on track to have more teams this year with accounting bodies joining universities in the event. “Unlike last year, in addition to universities, we will be opening up this event to ACCA/CIMA institutes as well. We […]
Sri Lankan Airlines to get treasury secretary as new chairman
March 28, 2008 (LBO) – Sri Lanka’s government has appointed treasury secretary P B Jayasundera as chairman of the national carrier SriLankan Airlines, whose management deal with Emirates Airline expires at the end of March. The government which owns 51.05 percent of the airline has also appointed Sunil Wijesinha, present chairman of tableware exporter Dankotuwa […]
British finance minister outlines plans for whistleblower law
LONDON, March 28, 2008 (AFP) – Finance minister Alistair Darling outlined plans on Friday to equip Britain’s financial watchdog with powers to give individuals whistleblower protection in return for evidence in investigations.Darling’s proposals in an interview with The Guardian came just days after British bank Halifax Bank of Scotland was forced to deny market rumours […]
Flight problems ground Sri Lanka tour match
SCARBOROUGH, Tobago, March 27, 2008 (AFP) – Sri Lanka’s scheduled three-day tour match against West Indies ‘A’, planned for this weekend, was cancelled on Thursday because of flight problems. The match had been scheduled for Shaw Park from March 29 to 31, but it has become the latest victim of the Caribbean’s erratic airline services. […]
Sri Lanka launches probe into mystery poster campaign
March 28, 2008 (AFP) – Sri Lanka Thursday launched a probe into a mystery poster campaign that is asking would-be Tamil Tiger suicide bombers to turn themselves in to government hands in return for cash.The campaign, run by an unknown pro-peace organisation, was urging extremists to change their minds in exchange for a new life […]