Author: lbostgadmin
Sri Lanka utility buys power from community hydro plant
Nov 05, 2012 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has started to purchase electricity from a community hydro power plant after the village was supplied with grid power, the island’s power ministry said. The 18kiloWatt plant, located in Kaduruwandola, Athuraliya in Sri Lanka’s Ratnapura district will generate 15,000 units (kiloWatt hours) of energy […]
Little evidence of health benefits from organic foods: Stanford study
Nov 05, 2012 (LBO) – Researchers at America’s Stanford University have found little evidence to back a widespread belief that organic foods which are sometimes twice as expensive as conventional ones, gives more health benefits, a report has said. A team led by Dena Bravata, a senior affiliate with Stanford’s Center for Health Policy, and […]
Global Spread
Nov 05, 2012 (LBO) – MillenniumIT, a Sri Lanka based unit of the London Stock Exchange group said its automated trading system (ATS) has replaced a manual open outcry system at the stock exchange in Botswana. MillenniumIT says its software is now live at over 30 customer sites and securities exchanges around the world. Tony […]
Legal Protest
Nov 5, 2012 (AFP) – Hundreds of Sri Lankan lawyers took to the streets of Colombo on Monday protesting against a government move to impeach the country’s top judge in an increasingly bitter dispute. Lawyers marched from the Supreme Court to the city centre denouncing efforts by President Mahinda Rajapakse’s United People’s Freedom Alliance party […]
Slower Growth
Nov 05, 2012 (LBO) – Profits at Sri Lanka’s Pan Asia Bank fell 6 percent to 195 million rupees in the September 2012 quarter from a year earlier, amid flat net interest income growth, interim accounts showed. Deposits grew 18 percent to 41. 8 billion rupees. Bad loans grew 7 percent to 2.7 billion rupees […]
Half Astern
Nov 05, 2012 (LBO) – Ships calling at Sri Lanka’s ports fell by 38 to 350 in August 2012 from a year earlier and domestic container handling fell sharply as the economy slowed amid a trade contraction, but transshipment volumes were steady, official data shows. In August 83,974 containers (twenty foot equivalent units) were handled […]
Sri Lanka stocks close 0.13 pct higher
November 05, 2012 (LBO) – Sri Lanka stocks closed up 0.13 percent Monday posting a low turnover. AVIVA NDB Insurance PLC gained 5.00 rupees to close at 370.00 rupees up 1.37 percent. Colombo Dockyard PLC gained 0.10 cents to close at 217.70 rupees up 0.05 percent. Dialog Axiata PLC gained 0.20 cents to close at […]
Sri Lanka DFCC Bank net up 54-pct in Sept
Nov 05, 2012 (LBO) – Sri Lanka’s DFCC Bank said group profits rose 55 percent to 819 million rupees in the September 2012 quarter from a year earlier, and its commercial banking unit hit regulatory ceiling on credit growth. DFCC group performing loans grew 7.5 percent to 90.9 billion rupees from March, but chief executive […]
Electronic Fraud
Nov 04, 2012 (LBO) – Two Romanian nationals have been arrested over a millions of rupees have been stolen from unsuspecting account holder using forged automated teller machine cards, a media report said. Sri Lanka’s The Sunday Times newspaper said at least 2.3 million rupees have been stolen from the account holders from banks in […]
Impeachment View
By J C Weliamuna Nov 04, 2012 (LBO) – The Rajapaksha Regime, through its parliamentarians, handed over an impeachment motion to the Speaker, the elder brother of the President Rajapaksha against the first woman Chief Justice of the country. It appears that the Government of Sri Lanka is in a mighty hurry to get rid […]
Unhedged
Nov 02, 2012 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has lost a 60 million dollar arbitration claim over oil derivatives against Deutsche Bank, a media report said. Reuters a news agency said a US based arbitrator has rule in favour of Deutsche Bank. “It’s against us,” the agency quoted Sri Lanka’s Attorney General […]
Label Rules
Nov 03, 2012 (LBO) – Sri Lanka’s Ceylon Tobacco Company, a unit of British American Tobacco has gone to the court of appeal against new labeling rules by the island’s health ministry which requires graphic labeling. Health agencies, starting from US surgeon general’s office under Luther Terry, a former John Hopkins University professor and the […]