Author: lbostgadmin
”, GI tea logos
May 04, 2011 (LBO) – Sri Lanka has launched new logos for Ceylon tea to protect the island’s best known brand under the Geographical Indicators (GI) international trade regime and promote it as ozone friendly. The 1.5 billion US dollar Ceylon tea industry aims to use the new logos to market the tea as a […]
Sri Lanka stock market seen as funding option for hotels
May 04, 2011 (LBO) – Sri Lanka’s hotels, enjoying a boom after the end of a war, can seek expansion funds from the stock market, with banks having difficult history of lending to the sector, a report said. However, unlisted firms which form the bulk of the hotels, may face difficulties in using the stock […]
Sri Lanka stocks end down 0.79-pct
May 04, 2011 (LBO) – Sri Lanka stocks closed 0. 7 percent lower, falling for the fourth straight day as credit tightened and a recently listed stock slumped to its initial offer price in intra-day trade, brokers said. Diesel and Motor Engineering closed 27.60 rupees lower at 1,475.30 weighed down by hiked taxes on imported […]
Sri Lanka stocks close 0.7-pct lower
May 04, 2011 (LBO) – Sri Lanka stocks closed 0.7 lower, falling for the fourth straight day as credit tightened and a recently listed stock slumped its initial offer price in intra-day trade, brokers said. Commercial Bank non-voting shares closed down 3.70 at 175, while its voting shares were flat at 265 and PABC Bank […]
Sri Lanka Treasuries yields steady
May 04, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday’s auction with the government rolling over a 10 billion rupee stock of maturing bills, according to data released by the government’s debt office. The 3-month yield rose 01 basis point to 7. 05 percent, the 6-month yield rose 01 basis point to […]
Wrong strategy could worsen dengue epidemics: study
PARIS, 2011 (AFP) – The wrong approach to wiping out the mosquitoes that cause dengue infections could lead to worse epidemics in the future, according to a study released Tuesday. Targeting only mosquito larvae, and not adults, with insecticides may work in the short run, but could result in higher resistance in the insects and […]
‘s Tillakaratne to take fix claims to ICC
May 3, 2011 (AFP) – Former Sri Lanka captain Hashan Tillakaratne said on Tuesday he was ready to share information on alleged match-fixing with the International Cricket Council, the game’s world governing body. Tillakaratne, now an opposition politician, said he will name those involved in match-fixing to ICC officials, after he claimed last week that […]
Sri Lanka low general insurance rates may end
May 3, 2011 (LBO) – Sri Lanka’s insurers who have been competing aggressively on price despite making underwriting losses, may be forced to re-think their strategy, if investment income falls amid lower interest rates, an industry official said. Sri Lanka’s general insurance businesses have been making underwriting losses, but bottom lines have been propped up […]
Maldives police use tear gas as protesters clash
May 3, 2011 (AFP) – Maldives police on Tuesday used tear gas and batons to break up an anti-establishment protest after a third night of clashes between government and opposition activists turned violent. Police spokesman Ahmed Shiyam said at least six people were arrested after activists started fires on Monday night along the cobbled streets, […]
India hikes key interest rates by 50 basis points
MUMBAI, May 3, 2011 (AFP) – India’s central bank on Tuesday raised lending rates by a bigger-than-expected 50 basis points, its ninth hike in 15 months to curb inflation, and warned that the move could slow economic growth. The Reserve Bank of India raised its repo — the rate at which it lends to commercial […]
Outsource Option
May 03, 2011 (LBO) – India’s Firstsource Solutions is to invest a million dollars to take a 74 percent stake in Sri Lankan celco Dialog Axiata’s business process outsourcing subsidiary in a joint venture deal. The unit, Dialog Business Services, recently started by Dialog, will be renamed Firstsource-Dialog Solutions with an existing staff of 417. […]
Jury Delay
NEW YORK, May 2, 2011 (AFP) – Jury deliberations in Wall Street’s biggest insider trading trial for a generation will be suspended for a day, a judge ordered Monday, as the wait for a verdict entered its second week. Judge Richard Holwell in New York federal court said deliberations would resume Wednesday after pausing “in […]