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Done Deal
August 10 (LBO) – John Keells Holdings said Thursday that it bought up about a million shares or just over an eleven percent stake in Associated Motorways Limited, through a private placement. A block of 1,032,231 shares of ten rupees was sold at a premium of 370 rupees apiece, a shareholding of 11.12 percent of […]
Top Speed
Aug10 (LBO) – Associated Motorways Limited (AMW) posted an 18 percent jump in net profits to 143.8 million rupees in the first quarter 2007, led by growth in its passenger vehicle segment. The group’s net turnover was also up 76 percent to 2.6 billion rupees for the same period, over a company turnover performance of […]
Bank Tie
The Sri Lanka government agency that overseas state-owned enterprises is drawing up plans to merge a state-owned Sri Lankan housing bank with a savings bank that has a strong presence in the housing market, officials said. The State Mortgage and Investment Bank, a specialist housing bank with assets of 9.1 billion rupees was recently downgraded […]
British bomb plot causes worldwide airline chaos
LONDON, Aug 10, 2006 (AFP) – Air travel to and from Britain was plunged into chaos on Thursday in the wake of the discovery of a plot to blow up airlines on transatlantic flights. Many airlines said they were cancelling all flights to Britain and to the epicentre of the threat, London Heathrow, one of […]
Coke, Pepsi struggle to find fizz in India
NEW DELHI, Aug 10, 2006 (AFP) – With a billion-plus people in a hot climate and a booming economy, India should be a choice market for Coke and Pepsi — but the two cola giants have instead faced a very bumpy local ride. The brands are in the midst of a publicity nightmare after an […]
Weary Sri Lankan medics fight fatigue as casualties mount
KANTALAI, Sri Lanka, Aug 10, 2006 (AFP) – Doctor Iranthi de Silva has worked for 15 hours straight, battling fatigue and stress as casualties in Sri Lanka’s strife-torn northeast mounted Thursday. A brief lull in the chaotic, makeshift emergency room at the Kantalai Base Hospital allowed her to sit down. But the distant wailing of […]
Fresh fighting dims Sri Lanka peace hopes, rebels say more than 50 killed
KANTALAI, Sri Lanka, Aug 10, 2006 (AFP) – Sri Lankan warplanes bombed Tiger positions as fighting broke out again near a disputed waterway in the troubled northeast Thursday, leaving more than 50 people dead according to the rebels. Some 30,000 people who fled their homes last week because of fighting between troops and the Tigers […]
Two soldiers dead in renewed fighting near Sri Lanka waterway
KANTALAI, Sri Lanka, Aug 10, 2006 (AFP) – Sri Lankan war planes bombed Tamil Tiger positions as the two sides shelled each other around a disputed waterway near here Thursday, leaving at least two soldiers dead and 26 wounded. “We are on a defensive operation,” spokesman Upali Rajapakse said. “We had to retaliate when our […]
Postal Finance
Aug 9, 2006 (LBO) – Sri Lanka’s postal department is looking to provide agency financial services to boost revenue and reduce its operating deficit.It has a long association with the state-owned National Savings Bank and is used to dealing with savings accounts. “We feel that the post office is the ideal location in the rural […]
‘ Block
Aug 9, 2006 (LBO) – Reporters Without Borders has called on both sides in Sri Lanka’s civil war to see that journalists could continue reporting in areas of fighting, especially in the northeastern town of Muttur, and criticised them for refusing to allow the media into these zones.“We know some parts of the country have […]