Author: lbostgadmin
Sri Lanka stocks slump 02-pct
July 11, 2011 (LBO) – Sri Lanka stocks fell steeply Monday with sharp falls in market heavyweights and recent debutants, brokers said. The main All Share Price Index closed at 6,767.59, down 2.09 percent (144.39 points) while the more liquid Milanka index fell 1.76 percent (112.52 points) to close at 6,274.45, according to stock exchange […]
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July 11, 2011 (LBO) – Fitch Ratings Lanka has assigned Nations Trust Bank’s (NTB) proposed subordinated debentures of up to two billion rupees a National Long-Term rating of ‘A-(lka)’. The John Keells group and the Central Finance group hold 29. 9 percent and 20 percent of NTB’s equity. The issue is rated one notch below […]
Sri Lanka workforce dying early: report
July 10, 2011 (LBO) – Sedentary lifestyles and absence of regular health checks are making Sri Lanka’s workforce unhealthy with an alarming increase in early deaths that could have implications for economic growth, a media report said. “The war is over but Sri Lanka’s workforce is sitting on a fast-ticking time bomb,” the Sunday Times […]
Sri Lanka presses Pakistan to lower tariffs
July 10, 2011 (LBO) – Sri Lanka is pressing Pakistan to reduce import duties on key exports from the island with the issue to be taken up again at a forthcoming meeting in Colombo following talks in Islamabad. Pakistan would consider reducing high tariffs imposed on certain Sri Lankan agriculture products, the statement said. Analysts […]
Sri Lanka holds Briton over war crimes video: media
July 9, 2011 (AFP) – Sri Lanka has arrested a Briton for allegedly helping a British TV channel produce a documentary accusing Sri Lankan troops of war crimes, a media report said on Saturday. A Colombo magistrate on Friday agreed to a police request to detain the suspect, a British citizen of Sri Lankan origin, […]
‘s slowing economy
NEW DELHI, July 10, 2011 (AFP) – Not long ago it was the toast of investors, but India’s appeal has taken a hit, with bearish sentiment building thanks to worries over stubbornly high inflation and widespread political corruption. “If we had the right supportive economic ecosystem and big-ticket reforms, 10 percent growth would not have […]
Peace Dividend
July 10, 2011 (LBO) – Singer Sri Lanka, a consumer durables firm, a top retailer of televisions, refrigerators and sewing machines says sales in the former war-torn north and east of the country has doubled since a 30-year war ended two years ago. “Now, North-east is giving 6.5 percent percent of the sales,” chief executive […]
Pakistan says India rejected cricket revenue plan
KARACHI, July 8, 2011 (AFP) – Pakistan’s cricket chief Ijaz Butt has said India rejected a proposal to share revenue from a possible series between the arch rivals on the grounds that India will play host. “We hope the series will be revived and we told them we are ready to play in India but […]
Sri Lanka LOLC group builds 6MW dendro plant
July 9, 2011 (LBO) – United Dendro Energy, a unit of Sri Lanka’s LOLC group is building a 6 MegaWatt dendro power plant to be fired by gliricidia with plans to eventually build 24MW of biomass generating capacity, the company said. The firm was now building a 4MW plant in the southern Kalutara district, which […]
Former royals renounce Indian temple treasure
NEW DELHI, July 8, 2011 (AFP) – The head of a former Indian royal family renounced Friday any personal claim to billions of dollars’ worth of ancient treasure discovered in a Hindu temple in the kingdom his ancestors once ruled. On Friday, the Supreme Court directed that the opening of the final vault be deferred […]
Sri Lanka policy rates unchanged; credit growth to slow: CB
July 08, 2011 (LBO) – Sri Lanka’s central bank held its policy rate at which excess money is withdrawn from the market at 7.0 percent in July saying credit growth was slowing and inflation would ease further. In June 12-month inflation fell to 7.1 percent from 8.1 percent in May, measured by the widely watched […]
Problems mount for Sri Lankan cricket
July 8, 2011 (AFP) – Only three months ago, Sri Lanka were battling it out with India in the World Cup final but they have since gone from controversy to scandal to full-blown crisis in an astounding fall from grace. After losing the Mumbai showpiece, Sri Lanka have unravelled in spectacular fashion, hit by resignations, […]