All Blogs
Sri Lanka seeks to develop bond market to access foreign capital
Nov 22, 2007 (LBO) – Sri Lanka Central Bank governor Ajith Nivard Cabraal said Thursday the government wants to develop the bond market to be able to access new sources of capital and reduce reliance on concessionary lending. The government’s main funding sources were still mainly taxes and bilateral and multilateral loans but it wanted […]
NPL Hit
Nov 22, 2007 (LBO) – The Sri Lanka branch of HSBC has taken a record 1.4 billion rupee hit from bad loans which saw net profits plummeting 56 percent in the first nine months of the year, the bank’s interim accounts showed. HSBC made a specific provision of 1,414 million rupees, up from 120 million […]
Slow Quarter
Nov 22, 2007 (LBO) – Sri Lanka’s PABC Bank said net profit for the September quarter was down five percent year-on-year to 40 million rupees. Interest income rose to 521 million rupees from 342 million rupees in the same period the year before, according to interim result given to the Colombo bourse. Net interest income […]
Getting Close
Nov 22, 2007 (LBO) – Amba Research, a specialised investment research outsourcing firm with offices in Sri Lanka said it had been short-listed for an award program run by the Chartered Institute of Management Accountants (CIMA) and the Financial Times newspaper of London.The CIMA Employer of the Year award had been previously won by firms […]
Domestic Violence
Nov 22, 2007 (LBO) – The residence of a rebel Sri Lanka lawmaker had been bombed by unidentified persons Thursday, but the attackers had fled after a security guard fired back, the parliamentarian said. Former Minister Sripathi Sooriyaarachchi told LBO only his wife and children were at his home in the Colombo suburb of Borella, […]
Tele Saga
Nov 22, 2007 (LBO) – The hearing of the case against the sale of Sri Lanka Telecom shares by its Japanese shareholder to Malaysia’s UT group has been put off till February 25, court officials and laywers said. The Supreme Court halted the sale of shares of the country’s largest fixed access operator to a […]
‘s biggest biomass plant
LONDON, Nov 21, 2007 (AFP) – Britain is to build the biggest biomass plant in the world, Business Secretary John Hutton said after giving the green light to the renewable energy project.Doug Parr, Greenpeace UK’s science spokesman, also lamented the fact it would not produce heating too and expressed concerns about the wood being transported […]
” being treated in US: report
Jakarta, Indonesia (AFP) – An Indonesian villager dubbed “Tree Man” for massive bark-like warts growing on much of his body may be barred from travelling to the United States to receive treatment, a report said Tuesday. Woody growths entirely cover 32-year-old Dede’s hands in long, root-like tendrils that leave him unable to work — except […]
Maldives police hunt for second bomb
Nov 22, 2007 (AFP) – Maldivian authorities are searching for a second bomb believed to have been part of a plot by Islamic extremists to attack the country’s vital tourism industry, police said Thursday. Police are also investigating possible links with foreign militant groups after the Indian press reports highlighted that some of the suspects […]
Following Fed revision, dollar plunges to new record euro low
NEW YORK, Nov 21, 2007 (AFP) – The dollar slumped to a fresh record low against the euro Wednesday as weaker US growth projections and the prospect of another cut in interest rates hurt the greenback. The European single currency struck a record peak of 1.4870 dollars — the highest since the euro’s creation in […]