Author: lbostgadmin
Bank Ratings
July 08, 2011 (LBO) – Fitch Ratings Lanka has confirmed the national long-term ratings of Bank of Ceylon (BOC), People’s Bank (PB), Commercial Bank of Ceylon (CB) and Sampath Bank (SB). The rating agency also confirmed and simultaneously withdrawn the individual and support ratings of the four banks as the ratings are no longer relevant […]
Feeder Berth
July 08, 2011 (LBO) – Sri Lanka plans to create an extra berth for feeder vessels at Colombo port to accommodate growing cargo flows that threatens to choke the harbour as it nears capacity, an official said. Wickrama said Colombo port lacked the space to expand and was trying to accommodate increasing volumes of cargo […]
Sri Lanka stocks close weaker
July 08, 2011 (LBO) – Sri Lanka stocks closed closed weaker Friday, ending three days of gains with Vallibel One, which began trading, was the most actively traded stock, brokers said. Orient Garments was also heavily traded, closing at 29.80 rupees, up 3.20 with 7.58 million shares done. The main All Share Price Index closed […]
China tops Sri Lanka loan commitments
July 07, 2011 (LBO) – China has committed 760 million US dollars of new loans in the first four month of 2011, topping Japan’s 413 million dollars in the same period, to reach top spot, official data showed. Sri Lanka’s total capital budget is financed from loans, as the country runs a deficit on the […]
Sri Lankan capital among cheapest cities: survey
SYDNEY, July 7, 2011 (AFP) – The soaring Australian dollar has turned the country’s four biggest cities into some of the most expensive locations in the world, according to a new global survey published Thursday. Sydney and Melbourne are now the sixth and seventh most expensive cities on the planet, the Economist Intelligence Unit’s biennial […]
Petroleum Post
July 07, 2011 (LBO) – Sri Lanka’s government is seeking a new head for the Petroleum Resources Development Secretariat (PRDS), to lead the island’s search for oil and gas resources. The vacancy for the Director General of the Petroleum Resources Development Secretariat has been posted on the website of the organisation, which now comes under […]
‘s rout of Sri Lanka
NOTTINGHAM, July 6, 2011 (AFP) – England captain Alastair Cook’s unbeaten 95 completed his side’s crushing 10-wicket victory over Sri Lanka in the fourth one-day international at Trent Bridge here on Wednesday. England’s win left the five-match series all square at 2-2 ahead of Saturday’s Old Trafford finale. England, chasing a revised target of 171 […]
‘s Tata to build S.African auto plant: report
JOHANNESBURG, July 7, 2011 (AFP) – Indian giant Tata will start building an auto assembly plant in South Africa in July for production which is likely to target the local and African market, Business Day reported on Thursday. In May Tata reported a nearly fourfold increase in annual profit, boosted by booming sales and strong […]
Finance Education
July 07, 2011 (LBO) – Amana Global, a fully-owned subsidiary of Sri Lanka’s Amana Takaful has signed a deal with Islamic Banking and Finance Institute of Malaysia (IBFIM) to offer training in Islamic finance. At present there is a dearth of professional services available to satisfy the demand, a company statement said. “The move to […]
Vehicle Trend
July 07, 2011 (LBO) – Sri Lanka’s vehicle registrations were up 65.2 percent in May 2011 to 41,862 from a year earlier, with total registrations also up 65 percent to 200,415 in the first five months of the year, official data shows. Car registrations rose 10 times to 5,173 in May, motor cycle imports were […]
Sri Lanka stocks close up 0.5-pct
July 07, 2011 (LBO) – Sri Lanka stocks closed firmer Thursday with sharp gains in Lanka Orix Finance Company, which began trading, helping propel the benchmark index up by over a hundreds points in early trade, brokers said. The main All Share Price Index closed at 6,918.41, up 0.50 percent (34.35 points) while the more […]
Sri Lanka skipper in trouble after wowing MCC
July 5, 2011 (AFP) – Former Sri Lanka skipper Kumar Sangakkara is in hot water after his highly acclaimed lecture at Lord’s, where he criticised what he alleged was a corrupt and politicised cricket administration at home. He said power games among cricket administrators, as well as board politics, had triggered rifts, ill feeling and […]