Author: lbostgadmin
‘s Dilshan seeks early IPL exit
April 25, 2011 (AFP) – Sri Lanka’s new skipper Tillakaratne Dilshan, one of the stars of the Indian Premier League, has said he wants to leave the event early to travel with the national team to England on tour. Dilshan is keen to join the Sri Lankan squad when they fly to England on May […]
Sri Lanka Property Development gets in to hydro-power
Apr 25, 2011 (LBO) – Sri Lanka’s Property Development, a subsidiary of the state-owned Bank of Ceylon, has acquired hydro-power company for 23. 6 million rupees. The acquisition of a 95 percent stake in Koladeniya Hydropower was revealed in the company’s financial results for the March 2011 quarter filed with the Colombo stock exchange. Property […]
Capital Cushion
Apr 25, 2011 (LBO) – RAM Ratings Lanka has assigned long- and short-term financial institution ratings of BB and NP to Bimputh Lanka Investment (BLI) with the long-term rating carrying a stable outlook. “The ratings are supported by the company’s good asset quality, healthy funding mix and strong capital cushioning,” the rating agency said in […]
Auto Ache
Apr 25, 2011 (LBO) – Prices of several models of imported cars in Sri Lanka will rise after a government import duty increase, senior officials of motor vehicle importers said. The price of a Viva car imported from Malaysia with an engine capacity below 1,000 cc, which had become popular recently, could rise by 150,000 […]
Sri Lanka shares end down 1.5-pct
Apr 25, 2011 (LBO) – Sri Lankan shares tumbled for the fifth straight day Monday with motor shares taking a hit and heavy trading continuing in Lankem Developments, brokers said. The All Share Price Index closed at 7,345.48, down 1.49 percent (111.34 points) while the more liquid Milanka index fell 1.32 percent (91.84 points) to […]
Sri Lanka Ex-skippers back Malinga call to quit Tests
April 24, 2011 (AFP) – Two former Sri Lankan captains Kumar Sangakkara and Mahela Jayawardene on Sunday backed fast bowler Lasith Malinga’s decision to quit Tests because of a worsening knee condition. Malinga announced his retirement last Friday, days after Sri Lanka Cricket questioned his participation in the lucrative Indian Premier League (IPL) after he […]
‘s double-digit growth ambitions fade
NEW DELHI, April 24, 2011 (AFP) – India’s dreams of attaining double-digit economic growth within the next few years are fading, undermined by high inflation, slow progress on reforms and an uncertain global outlook. While hundreds of millions of Indians are still mired in poverty, the step-change in growth has transformed living standards for many […]
Protests mount against Indian nuclear plant
SAKHRI NATE, April 24, 2011 (AFP) – In the busy Indian fishing village of Sakhri Nate, it’s obvious what the locals think of the plan to build the world’s biggest nuclear power plant just across the creek. “If the government does nothing, at least 5,000 fishermen and farmers will go to Delhi and protest,” he […]
Credit Problem
Apr 24, 2011 (LBO) – Sri Lanka’s banks loaned 40.6 billion rupees to business in February pushing loan growth to 29. 7 percent from a year earlier, while the credit to the state including printed money spiked by 41 billion rupees, amid rising inflation. Printed money is immediately disbursed to the economy by the state, […]
Sri Lanka paceman Malinga quits Tests
NEW DELHI, April 22, 2011 (AFP) – Injury-prone paceman Lasith Malinga on Friday stunned Sri Lanka by quitting Test cricket in a bid to prolong his career in one-day internationals and Twenty20 matches. Chief selector Duleep Mendis hit out at the 27-year-old’s handling of the announcement, saying the bowler — who has pierced eyebrows, dyed […]
Juicy Business
ANTANANARIVO, April 22, 2011 (AFP) – Twenty Madagascan women who planned to work as maids in Saudi Arabia, were intercepted by police in Madagascar Friday, before they were able to board the plane, the government said. “We prevented these young girls from leaving because their paperwork wasn’t in order, notably they didn’t have contracts signed […]
Forced Saving
Apr 23, 2011 (LBO) – Chandra Jayaratne, respected retired Sri Lankan business executive, and financial professional, has written President Mahinda Rajapaksa to stop state plans to build a controversial pension fund by dipping into the salaries of private sector workers. The full text of the letter is as follows. 22nd April 2011. His Excellency Mahinda […]