All Blogs
Steady Course
Feb 28, 2008 (LBO) – Sri Lanka’s NDB Bank profits grew 17 percent in the December quarter, and full year 2007 profits were also up, when a one-off capital gain in the previous year was discounted, the company said. Group revenues were up 23 percent to 10 billion rupees in the 12-months to December 2007, […]
Banking Trend
Feb 29, 2008 (LBO) – Sri Lanka’s Seylan Bank group full year profits grew four percent to 911 million but December quarter profits dipped amid lower loan growth, results released to the Colombo Stock Exchange showed. Fourth quarter net profit was down 58 percent to 89 million rupees compared with the same period last year. […]
Bad Show
Feb 29, 2008 (LBO) – The Sri Lanka unit of Transparency International has strongly criticised President Mahinda Rajapakse for removing a senior official of the government’s anti-corruption organisation. The anti-corruption watchdog said in a statement the move smacks of political interference in the workings of the Commission to Investigate Allegations of Bribery or Corruption. “The […]
Dispute Resolution
Feb 29, 2008 (LBO) – Sri Lanka’s state sector should have alternative ways to solve problems without striking and hurting the public who are paying their salaries, a minister said at the launch of a new dispute resolution process. The private sector in Sri Lanka already have dispute resolution mechanisms through social dialogue, arbitration and […]
Tough Chats
Feb 29, 2008 (LBO) – Higher inflation which reduced the spending power of subscribers and declining security was hurting Sri Lanka’s telecom firms, Fitch Ratings said in an Asia Pacific regional report. . Though the Sri Lankan telecom sector was expected to show “reasonable growth” in 2008, fixed wireless expansion was expected slow with increasing […]
Mobile Eye
Feb 29, 2008 (LBO) – Sri Lanka’s Kay Jay Security has tied with Dialog Telekom to provide a closed circuit television (CCTV) monitoring through third generation mobile technology, the company said. “Under the new joint-venture, customers in Sri Lanka will be able to subscribe to a package that includes the installation of CCTV at their […]
Oil prices near records in Asia amid dollar weakness
SINGAPORE, Feb 29, 2008 (AFP) – World oil prices continued higher Friday, trading around fresh record levels as speculators piled into the market on the back of a sharp decline in the US dollar after a weak report on US economic growth, dealers said.In morning trade, New York’s main contract, light sweet crude for delivery […]
Dollar sinks to fresh low versus euro after Bernanke comments
NEW YORK, Feb 28, 2008 (AFP) – The dollar plunged to a fresh record low against the euro Thursday amid more glum US economic news and downbeat comments on the outlook from Federal Reserve chairman Ben Bernanke.In late New York trade, the dollar stood at 105.30 yen from 106.45 Wednesday and 1.0512 Swiss francs after […]
Famed geneticist creating life forms that turns CO2 to petroleum
MONTEREY, California, Feb 28, 2008 (AFP) – A scientist who mapped his genome and the genetic diversity of the oceans said Thursday he is creating a life form that feeds on climate-ruining carbon dioxide to produce fuel.“We are a ways away from designing people. Our goal is just to make sure they survive long enough […]
Sri Lanka upset Australia
MELBOURNE, Feb 29, 2008 (AFP) – Australia’s Adam Gilchrist smashed a blistering 83 in his farewell appearance at the MCG but his teammates collapsed to hand Sri Lanka an unlikely 13-run win here on Friday. The tourists, in their final match of the tri-series, made 221, and Australia looked well set when Gilchrist launched an […]