Author: lbostgadmin
South Africa win to stay alive in Sri Lanka cricket series
PALLEKELE, July 26, 2013 (AFP) – David Miller and Lonwabo Tsotsobe played key roles as South Africa stunned hosts Sri Lanka by 56 runs in the third one-dayer in Pallekele on Friday to stay afloat in the five-match series.Miller plundered a robust 85 not out off 72 balls to steer South Africa to 223-7 after […]
Mobile Hit
WASHINGTON, July 27, 2013 (AFP) – With the shift to mobile Internet gaining pace, some of the big tech firms are adapting and others are not.“Its products are no longer cutting edge,” he said.“It has failed to introduce sufficiently innovative product updates and services frequently enough (or) expand its limited product range.” He added that […]
Detentions
JAKARTA, July 27, 2013 (AFP) – Police detained four Indonesians allegedly involved in arranging an Australian-bound refugee boat which sank earlier this week, killing at least 15 people, a local police official said Saturday.The four men were arrested on Wednesday and Thursday in two nearby cities after the boat sank off the southwestern coast of […]
Refinance
July 27, 2013 (LBO) – Sri Lanka’s Nations Trust Bank has signed up a 15 million dollar credit to lend to small and medium enterprises, especially those in former war zones and tsunami hit areas, the Asian Development Bank said. About 20 percent of the facility will target women borrowers. The loans will be given […]
‘s Asia Pacific chief Anoop Singh to retire
July 26, 2013 (LBO) – Anoop Singh, director of the International Monetary Fund’s Asia Pacific Department and one-time country representative of Sri Lanka is to retire. “Anoop’s departure will deprive the Fund of one its most distinguished staff members, and his friends of a hugely admired colleague,” IMF managing director Christine Lagarde said in a […]
Loans to eurozone businesses drop sharply: ECB
FRANKFURT, July 25, 2013 (AFP) – Loans to businesses in the debt-mired eurozone tumbled in June, the European Central Bank said Thursday, weakening a key component of any economic recovery. Private sector loans dropped 1.6 percent last month in a year-on-year comparison, the ECB said, after a 1.1 percent decline in May. Loans to households […]
Base Case
July 26, 2013 (LBO) – Chevron Lubricants Lanka Plc said profits in the June 2013 quarter rose 5.5 percent to 562 million rupees from a year earlier, despite falling revenues on lower raw material prices. The firm reported earnings of 4.69 per share in interim accounts filed with the Colombo Stock Exchange. In the six […]
Boat-people
SYDNEY, July 26, 2013 (AFP) – The United Nations on Friday said it was “troubled” by Australia’s decision to send asylum-seekers arriving by boat to Papua New Guinea given conditions there failed to adequately protect refugees. In it’s first assessment of the hardline policy announced a week ago by Prime Minister Kevin Rudd, the United […]
Sri Lanka urban waste to be made into fertilizer: IWMI
July 26, 2013 (LBO) – Sri Lanka-based International Water Management Institute (IWMI) said it is partnering with island’s environmental authority to turn urban waste, a major water pollutant into organic fertilizer. Sri Lanka’s urban waste has a high volume of moist organic matter which is not economical to burn and generate power, experts have said. […]
Sri Lanka Cinnamon Lakeside, revenues, profits down in June
July 26, 2013 (LBO) – Profits at Sri Lanka’s Trans Asia Hotels, owners of Colombo’s 5-star Cinnamon Lakeside fell 23 percent to 121.5 million rupees in the June 2013 quarter from a year earlier, interim accounts showed.The firm, a unit of John Keells Holdings, reported earnings of 61 cents per share for the quarter. Revenues […]
Growth Strategy
July 26, 2013 (LBO) – Standard Chartered Bank views Sri Lanka positively and is looking to grow its business with a strategic decision to expand in the island, a top official said.This week Standard Chartered Sri Lanka took part in a 200 million US dollar syndicated loan to state-run Bank of Ceylon. “For a long […]
Punishment Cap
July 26, 2013 (LBO) – Sri Lanka’s central bank has capped the penalty interests on defaulted loans of banks to two percent a year and those from leasing and finance companies to three percent a year.The regulator said at the moment penalty rates on overdue advances range from 2 to 20 percent above the original […]