Author: lbostgadmin
Port Fire
May 24, 2013 (LBO) – Sri Lanka Ports Authority said a fire that broke out in a container freight station at Colombo Port has been brought under control and authorities are assessing the damage and probing its cause.Fire brigades of Sri Lanka Ports Authority, Sri Lanka Army, Navy, Air Force, Colombo Dockyard and Colombo Municipal […]
Argentine case a challenge to debt restructurings: IMF
WASHINGTON, May 23, 2013 (AFP) – The New York legal case over Argentina’s debt poses a deep challenge to all future sovereign debt restructurings, the International Monetary Fund said in a report Thursday. A US judge’s decision ordering Argentina to completely repay bondholders who refused to take part in a restructuring of its debt could […]
Sri Lanka should have more strikes to boost attendance: minister
May 23, 2013 (LBO) – Sri Lanka’s opposition parties should call more general strikes to improve attendance among state workers, a government minister said following a failed strike over an electricity price hike.Also in Sri Lanka budget deficits bordering 20 percent of gross domestic product, partly financed with central bank credit (printed money) had driven […]
Oil prices falls on hopes that US Fed will end excessive money printing
SINGAPORE, May 23, 2013 (AFP) – Oil extended its losses in Asian trade on Thursday on a stronger dollar after the US Federal Reserve hinted that it could ease its massive stimulus policy soon, analysts said. “The reality is that US crude inventory remains high, indicating weak demand as the driving season approaches,” said Spooner. […]
Crude Plan
May 23, 2013 (LBO) – Sri Lanka will re-start its 50,000 barrels per day refinery on May 24, after getting a stock of Omani light crude, petroleum minister Anura Yapa said. Yapa said the shipper had said they were having engine troubled and could not deliver the stock in time. The refinery hit by US […]
Sri Lanka will not buy new limos for CHOGM: minister
May 23, 2013 (LBO) – Sri Lanka will not buy new limousines for the Commonwealth summit in Colombo and instead visiting heads of government will travel in cars taken on loan from ministries and departments, cabinet spokesman Anura Yapa said today.The minister denied reports that the government planned to import a dozen brand-new Rolls Royce […]
Data Protection
SAN FRANCISCO, May 22, 2013 (AFP) – Twitter said Wednesday it was stepping up security measures for the popular messaging service following a series of high-profile breaches by hackers hitting media organizations and others.Earlier this month, the Twitter feed of satirical US news website The Onion was also taken over by the Syrian group aiming […]
‘s Watawala Plantations in profits with palm oil
May 23, 2013 (LBO) – Sri Lanka’s Watawala Plantations Plc reported profits of 124 million rupees in the March 2013 quarter down 54 percent from a year earlier, as commodity prices eased, with palm oil continuing to perform well.The firm reported earnings of 53 cents per share for the quarter, in accounts filed with the […]
Auto Woes
May 23, 2013 (LBO) – Sri Lanka’s Diesel and Motor Engineering Company Plc, has reported losses of 36 million rupees in the March 2013 quarter down from profits of 427 million rupees, following a tax hike which hit the auto market. Taxes on cars were raised despite warnings from the both the International Monetary Fund […]
Sri Lanka stocks close up 0.4-pct
May 23, 2013 (LBO) – Sri Lanka’s stock closed up 0.42 percent in a short trading day ahead of a holiday driven by gains in alcohol and tobacco stocks, brokers said. LB Finance closed at 128.70 rupees up 60 cents. Peoples Leasing and Finance closed at 15.20 rupees up 10 cents. The Lion Brewery, gained […]
Sri Lanka in deal for US$580mn from China Development Bank
May 22, 2013 (LBO) – Sri Lanka has signed a deal with China Development Bank to borrow 580 million US dollars in 2013 for projects in 2013, the state information office said.The cabinet of ministers had approved a proposal by President Mahinda Rajapaksa as finance minister to sign a memorandum of understanding with CDB. CDB […]
Australia set to cull 10,000 wild horses
SYDNEY, May 22, 2013 (AFP) – A controversial cull of up to 10,000 wild horses in Australia’s harsh Outback reportedly began Wednesday in a bid to control the feral animals which officials say are destroying the land. The Central Land Council said animals — including horses, donkeys and camels — were dying in their thousands […]