Author: lbostgadmin
Tech Leader
Jan 24, 2012 (LBO) – MillenniumIT, a securities trading technology provider said it is expanding a software development complex in Sri Lanka with business volumes growing after it became part of the London Stock Exchange group. MillenniumIT was bought by the London Stock Exchange in 2009 now has a staff of 600 in Sri Lanka. […]
Sri Lanka bought leaf tea factory makes loss
Jan 24, 2011 (LBO) – Sri Lanka’s Tea Smallholder Factories Plc, a unit of John Keells Holdings said it lost a million rupees in the December 2012 quarter compared with a 41 million a year earlier, as revenues fell. . Revenues fell 17 percent to 510 million rupees in the quarter while cost of sales […]
Sri Lanka city hotel deep in red
Jan 24, 2012 (LBO) – Galadari Hotels (Lanka) Plc, a hotel in Sri Lanka’s capital Colombo said it lost 199.6 million rupees in the December 2011 quarter against a profit of 35. 4 million rupees a year earlier, hit by an exchange loss. Galadari has 9.1 billion rupees in accumulated losses and 1.3 billion rupees […]
Sri Lanka shares plunge 2.2-pct
Jan 24, 2012 (LBO) – Sri Lankan shares plunged again Tuesday, following Monday’s fall, amid panic selling, although recovering somewhat towards the end of trading, brokers said. Newly listed Asia Asset Finance was another heavily traded stock, closing at 6. 10 rupees, up 20 cents. “The Colombo stock market continued to end with negative returns […]
Crude Options
Jan 23, 2012 (LBO) – Sri Lanka will be able to import crude from Iran for at least six months before US sanctions make it impossible for payments to be made to that country, a media report said. Sri Lanka’s The Sunday Times newspaper quoted petroleum minister Susil Premajayantha as saying that talks would be […]
Sri Lanka reconciliation, secular republics in focus
Jan 23, 2012 (LBO) – Building a secular state can prevent oppression of minorities and victims of an arbitrary state should learn to forgive but must also speak out for change, writers participating in a literary festival in Sri Lanka said. India, a land of Maharajahs, became a democracy with voting rights and parliamentary legislating […]
Indian regulator fines 17 entities for securities fraud
MUMBAI, Jan 23 (AsiaPulse) – Indian regulator Sebi has imposed penalty totalling Rs 24 lakh (US$47,788) on 17 entities on charges ranging from non-disclosure of acquisition of shares to involvement in fraudulent trade practices in dealing with shares of Platinum Corporation Ltd (BSE:532117). In separate orders, Sebi fined Platinum Corporation Promoter and Director Pratik Shah […]
Indian food prices ease for third week
NEW DELHI, Jan 23 (AsiaPulse) – Indian food inflation remained in the negative zone for the third straight week, at (-)0.42 per cent for the week ended January 7, mainly due to fall in prices of onion and vegetables. Food inflation, as measured by the Wholesale Price Index (WPI), was at (-) 2.90 per cent […]
Bacteria Battle
Jan 23, 2012 (LBO) – Sri Lanka has completed the first phase of a four-year project to study microbial resistance to antibiotics, which is a serious problem worldwide and puts a strain on healthcare systems. The first report of the surveillance of microbial sensitivity to antibiotics, initiated by the Sri Lanka College of Microbiologists (SLCM) […]
Retail Strength
Jan 23, 2012 (LBO) – Fitch Ratings Lanka has assigned Abans (Private) Limited’s proposed senior unsecured debenture issue of up to 500 million rupees a national long-term rating of ‘A-(lka)’. The debenture will rank equally with other senior debt of Abans, a statement from the rating agency said. “The rating reflects Abans’ strong market position […]
Fancy Finance
Jan 23, 2012 (LBO0 – Sri Lanka’s Senkadagala Finance said net profit rose 106 percent to 146 million rupees in the December 2011 quarter from a year ago. Total assets of the company were 10 billion rupees as at December 31, 2011, up from 6. 9 billion rupees as at March 31, 2011. Since getting […]
Terminal Control
Jan 23, 2012 (LBO) – China Merchant Holdings (International), a Hong Kong listed Chinese state firm, is to up its stake in a container terminal venture at Sri Lanka’s Colombo port by 30 percent to 85 percent with the exit of a private consortium partner. Sri Lanka’s listed Aitken Spence group said it received approval […]