Author: lbostgadmin
Oil Attraction
Aug 17, 2011 (LBO) – State-run Russian oil firm Gazprom has visited Sri Lanka for talks on exploring oil off the coast of Mannar in the island’s east the foreign ministry said. A delegation lead by Gulev Veleriy, managing director of Gazprom International had met foreign minister G L Pieris. The visiting team had discussed […]
” comes alive as new species
PARIS, August 16, 2011 (AFP) – A new species of eel found in the gloom of an undersea cave is a “living fossil” astonishingly similar to the first eels that swam some 200 million years ago, biologists reported on Wednesday. The discovery was made in March last year by a team led by Masaki Miya […]
Fulltime Path
Aug 17, 2011 (LBO) – Residents in Sri Lanka could enroll as fulltime students of University of Ballarat in Australia through a study centre in Colombo under an education service deliver structure implemented for the first time in the island, officials said. The Sri Lanka centre is run by the Australian Technical and Management College […]
International Campus
Aug 17, 2011 (LBO) – Sri Lanka is on track to get about ten foreign universities under an initiative to expand tertiary education with Bangkok based Asian Institute Technology among them, an official said. The AIT is expected to set up a campus in Hambantota in Southern Sri Lanka, higher education ministry secretary Sunil Jayantha […]
Sri Lanka stocks down 0.5-pct
Aug 17, 2011 (LBO) – Sri Lanka stocks closed 0.5 percent lower Wednesday as euphoria over a relaxed credit rule eased but punters chased a few speculative stocks, brokers said. The stock traded at 86 times annualized quarterly profits of 30 cents a share. Panasian Power closed at 5.20 rupees up 40 cents or 8.33 […]
Sri Lanka Treasuries yields flat
Aug 17, 2011 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction with 3-month bills yields 7.11 percent at Wednesday’s auction, the government’s debt office said. The 6-month yield was flat at 7.19 percent and 12-month yield was 7.25 percent. The government said it had sold 3.5 billion rupees in 3-month bills, […]
Sri Lanka Pan Asia banks to sell 5-year bonds
Aug 17, 2011 (LBO) – Sri Lanka’s PABC Bank will sell 5-year bonds to raise two billion rupees to boost regulatory capital amid strong loan growth, Fitch Ratings Lanka which rated the securities ‘BBB-(lka)’ said. Pan Asia Bank itself is rated one level higher. Both are investment grade ratings. The subordinated bonds, which will be […]
Sri Lanka cement supplies disrupted amid price controls
Aug 16, 2011 (LBO) – Sri Lanka’s cement supplies remain disrupted amid price controls and posturing by rulers and the co-operative sector involved in another controversy, in a repetition of a similar debacle in the poultry sector. The Daily Mirror newspaper said Monday three cement firms have written to Sri Lanka’s consumer affairs agency which […]
Concern over loss of treasured freedoms, big brother state, in US
CHICAGO, August 16, 2011 (AFP) – Sweeping new policing powers, the tacit acceptance of torture and a backlash against Muslims that has grown fiercer 10 years after the September 11 attacks have made the United States a less free and open society. The erosion of fundamental American values along with massive — and what some […]
India July inflation eases to 9.22 percent
NEW DELHI, August 16, 2011 (AFP) – India’s annual inflation edged lower to 9. 22 percent in July, official data showed Tuesday, still far above the comfort level of the country’s central bank, which has been raising rates aggressively. Growing fears about the stuttering global economy have fuelled speculation among economists that the bank may […]
Financial Gain
Aug 16, 2011 (LBO) – Sri Lanka’s LOLC group, which has interests in finance, trading, plantations, energy and leisure said profits for the June 2011 quarter rose 138 percent to 1.75 billion rupees from a year earlier, helped by a capital gain. The firm reported earnings of 3.63 for the quarter. The stock closed at […]
Financial Closure
Aug 16, 2011 (LBO) – China Development Banking Corporation will loan 350 million US dollars for a 500 million US dollar container terminal in Colombo to be built by a Sino-Lanka joint venture, state-run Sri Lanka Ports Authority said. The first 600 metres of quay will be completed by December 2013. The terminal will eventually […]