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Hatton Profits
May 08, 2007 (LBO) – Hatton National Bank’s group net profit grew 33 percent to 344 million rupees with a strong 46 percent growth in foreign exchange earnings bringing in 246 million rupees, its March quarter accounts released Tuesday showed. The interest income grew to 5.7 billion rupees from 4.2 billion. At bank level, net […]
Bailout Probe
May 08, 2007 (LBO) — Sri Lanka has appointed a special presidential commission to probe finance companies that went bust in the past, after the country’s top whistle-blower found fault with monetary authorities for not recovering large amounts due to the state. Sri Lankan President Mahinda Rajapakse has picked justice Priyantha Perera to head the […]
Big and Small
May 7, 2007 (LBO) – A local bank and an international micro-finance specialist have tied up with the world’s largest bank to widen banking access to local micro enterprises, officials said Monday. Citigroup Foundation with the Foundation for Development Co-operation (FDC) and Banking with a Poor Network (BWTP) is helping micro-finance organizations build links with […]
Getting Warm
May 8, 2007 (LBO) – Sri Lanka’s advertising fraternity is kicking off a week long fest in the run up to the Sri Lanka Advertising Awards, the Chillies 2007, its organizers said. It would be held under the theme ˜Insightful Insights™, followed by a party at H20. To be held on May 12 at the […]
Cyber Crime
May 08, 2007 (LBO) – Sri Lanka on Tuesday enacted the Computer Crimes Bill introducing legislation which gives more power to law enforcement agencies when fighting computer crimes, the government ICT agency said. “The Basis of the Computer Crimes Bill is to criminalise attempts at unauthorised access to a computer, computer programme, data or information,” […]
Ganguly absence irks Bangladesh fans
DHAKA, May 8, 2007 (AFP) – The mystery of the missing Sourav Ganguly has baffled not only Indian fans but also millions of his supporters across the border in Bangladesh. The former India captain and senior pro Sachin Tendulkar were left out of the one-day series starting here on Thursday, with the selectors insisting the […]
Gilchrist ploy a storm in a glove, says CA
SYDNEY, May 8, 2007 (AFP) – Australian cricket officials Tuesday dismissed Sri Lankan claims that Adam Gilchrist’s use of a squash ball as a batting aid in last month’s World Cup final was unfair.Team vice captain Gilchrist, whose record-breaking 149 led Australia to their fourth title in the Caribbean, said he used the squash ball […]
US raises concern at Sri Lanka rights abuses
May 8, 2007 (AFP) – The United States is to raise concerns about human rights in Sri Lanka during a state visit that follows international concern over extra-judicial killings, diplomats said Tuesday.US Assistant Secretary of State Richard Boucher, who was due to arrive later Tuesday, will hold talks with President Mahinda Rajapakse, addressing the island’s […]
Sri Lanka troops kill suspected Tiger suicide bomber
May 8, 2007 (AFP) – Sri Lankan troops shot dead a suspected Tamil Tiger suicide bomber in the north of the island on Tuesday as ground battles raged elsewhere in the region, a military official said.Security forces killed the man who was riding a motorcycle in Vavuniya district. An official, speaking from the area by […]
Sri Lanka anti-inflation fight mired in excess liquidity
May 8, 2007 (LBO) Sri Lanka’s fight against inflation has received a set-back with monetary authorities unable to sterilize excess liquidity in the banking system which is now reaching towards one percent of gross domestic product.Excess liquidity in the banking system reached 22 billion rupees, reminiscent of the ‘bad old days’ of 2004 and 2006 […]