All Blogs
Sri Lanka stocks close lower; Sampath Bank trades boost turnover
Feb 29, 2008 (LBO) – Sri Lanka’s shares closed lower on Friday with index heavy Dialog Telekom and John Keells Holdings losing ground, dealers said.The All Share Index closed 0.36 percent 9.08 points) lower at 2,530.86 while the Milanka index shed 0.36 percent (11.56 points) to close at 3,172.21. The weekly average turnover was 648.5 […]
New Journey
Feb 29, 2008 (LBO) – Sri Lanka will call fresh bids for a planned new container terminal in Colombo and is going ahead with a contract to build its breakwater, a senior port official said. The other major port operator which did not bid was Dubai Ports World, which is making huge investments in ports […]
Pyramid Schemes
Feb 29, 2008 (LBO) – The Central Bank Friday warned that new ‘pyramid schemes’ that have been banned are making an appearance in different parts of the country. Those taking part in such schemes are in danger of losing their money and are also committing an offence under the banking law, it said in a […]
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 […]