Author: lbostgadmin
Sri Lanka to start seaplane flights to Arugam Bay
Aug 09, 2011 (LBO) – State-run SriLankan Airlines said it would start floatplane flights to the Arugam Bay, an internationally popular surfing hotspot in Sri Lanka’s eastern coast while bad weather has curtailed flights to the island’s central hills. SriLankan Airlines’ air taxi service operates scheduled flights to Polgolla in Kandy, Bentota, Koggala and Dikwella […]
Tele Status
Aug 09, 2011 (LBO) – Sri Lanka Telecom said 19 labour unions are engaged in trade union action but services to customers are being maintained. Union leaders meanwhile have made statements against SLT Manpower, a new unit, saying that workers recruited through the firm are being paid lower salaries. The firm said in a stock […]
Tele Profits
Aug 09, 2011 (LBO) – Sri Lanka Telecom, the island’s only wireline operator which also has a mobile unit, said its June 2011 quarter profits rose 49 percent to 1,142 million rupees with revenues flat at 12. 4 billion rupees. The group reported earnings of 63 cents per share for the quarter and 1.35 rupees […]
Sri Lanka commissions 500kW solar plant
Aug 08, 2011 (LBO) – Sri Lanka has commissioned a 500 kiloWatt solar power plant in Hambantota in the south of the island built with Korean help, the island’s power and energy ministry said. The solar plant in Hambantota in the South of the island built with 412 million rupees of Korean financing has been […]
” rating confirmed: RAM
Aug 08, 2011 (LBO) – Sri Lanka Insurance Corporation’s AAA claims paying rating has been confirmed by RAM Ratings with a stable outlook, based on its competitive position, state ownership and capitalization. RAM said SLIC accounted for 22.3 percent of industry premium by December 2010 and 40 percent of assets. It had system importance as […]
” of rival Malaysia Airlines
KUALA LUMPUR, August 8, 2011 (AFP) – Fast-growing budget airline AirAsia is pushing for management control of loss-making rival Malaysia Airlines under a reported share swap, a source with knowledge of the deal told AFP Monday. Trading in the shares of national flag carrier Malaysia Airlines and Malaysia-based AirAsia was suspended on Monday following press […]
Credit Trend
Aug 08, 2011 (LBO) – Sri Lanka’s credit to business from commercial banks rose 34. 4 percent to 1,793.4 billion rupees in June with banks disbursing 39 billion rupees of loans during the month, while credit to the state also spiked sharply. Banks have given 33.1 billion rupees of loans denominated in rupees and 6.0 […]
Sri Lanka stocks close up on credit easing hopes
Aug 08, 2011 (LBO) – Sri Lankan stocks closed up 0.8 percent, Monday after losing ground in early trade, after the securities watchdog said broker credit rules may be relaxed, brokers said. The benchmark All Share Price Index ended up 0.82 percent or 55.68 points at 6,806.97, while the Milanka Index of more liquid stocks […]
Sri Lanka bonds weaker; S & P says Asians Sovereigns safe
Aug 08, 2011 (LBO) – A 10-year Sri Lanka sovereign bond was quoted weaker Monday following a downgrade of US debt by Standard and Poor’s, though the rating agency said Asian sovereigns were safe in the short term. “However, the U.S. rating change, together with the weakening sovereign creditworthiness in Europe, does point to an […]
”” market tumble
PARIS, August 7, 2011 (AFP) – The week on financial markets began with high tension over the eurozone debt crisis and culminated in a downgrading of the US credit rating. Attention focused on the outlook for the US and EU economies, and the eurozone lurched deeper into crisis which now affects even core countries. The […]
Loss of AAA status tough but logical for US
WASHINGTON, August 7, 2011 (AFP) – Standard & Poor’s decision to strip the United States of its triple-A credit rating is a tough but logical sanction of the country’s inability to contain its spiraling debt, experts say. S&P slashed the US rating for the first time in history Friday from its sterling AAA to AA+, […]
Dilshan hits ton in Sri Lanka victory
PALLEKELE, August 6, 2011 (AFP) – Tillakaratne Dilshan hammered a maiden Twenty20 century to set up Sri Lanka’s 35-run victory over Australia in the opening match on Saturday. The captain made a 57-ball 104 not out, smashing five sixes and 12 fours in a superb display of hard and clean hitting to help his team […]