Author: lbostgadmin
Listing Move
Apr 19, 2011 (LBO) – The Multi Finance Company, a finance company once part of the troubled Ceylinco financial services group, is to list on the Colombo stock exchange by June to conform with regulatory requirements. Under the new management of Entrust Limited the company has now branched out into prime locations such as the […]
Cost Overrun
Apr 19, 2011 (LBO) – A new port being built in southern Sri Lanka could cost 41 percent or 148 million US dollars more because of additional rock blasting, re-shaped breakwaters and rising raw material prices, a newspaper report said. The additional cost of having to blast and remove bedrock found in the harbour amounts […]
Sri Lanka shares end down
Apr 19, 2011 (LBO) – Sri Lankan shares closed weaker Tuesday with heavy trading once again in the most recently listed firm and a couple of private deals in select stocks, brokers said. The All Share Price Index closed at 7,475.16, down 0.96 percent (72.63 points) while the more liquid Milanka index fell 1.33 percent […]
Sri Lanka bill yields up
Apr 19, 2011 (LBO) – Sri Lanka’s 3-month Treasury bill yields edged up three basis points to 7.03 percent a week after the Central Bank raised reserve ratios draining 15 billion rupees in excess liquidity from the banking system to contain inflation and credit. The government’s debt office said the 6-month yield rose 02 basis […]
Sri Lanka faces balance between inflation and growth: IMF
Apr 18, 2011 (LBO) – Sri Lanka faces a balance between inflation and growth, a top International Monetary Fund official said as prices continue to rise and the Central Bank has taken the first steps to tackle loose monetary policy. Anoop Singh, director of IMF’s Asia and Pacific department said that Sri Lanka has been […]
Sri Lankan Tamil party hails UN war crimes report
April 18, 2011 (AFP) – Sri Lanka’s main Tamil political party on Monday hailed a leaked UN report which called for an international war crimes probe into the island’s political and military leadership. The moderate Tamil National Alliance (TNA) said the report, commissioned by UN Secretary General Ban Ki-moon, amounted to “irrefutable confirmation” of atrocities […]
Sri Lanka names Dilshan new skipper
April 18, 2011 (AFP) – Sri Lanka’s cricket authorities on Monday named big-hitting all-rounder Tillakaratne Dilshan as captain for the upcoming tour of England. Dilshan will lead the side in all three formats of the game — Tests, one-day internationals and Twenty20s — on the tour, Sri Lanka Cricket said in a statement. The 34-year-old, […]
Sri Lankan Airlines goes rural for cabin crew
Apr 18, 2011 (LBO) – SriLankan Airlines said it has hired young women from rural areas who will be given a chance to join the Sri Lankan national carrier’s cabin crew. “If chosen, they would go into the Cabin Crew Training Programme and would need to pass several tests before qualifying,” the statement said. Recruitment […]
Obesity, diabetes: expanding India faces big problem
MUMBAI, April 18, 2011 (AFP) – Indian housewife Sujata Budarapu was shocked when she was told that her two sons were on the verge of developing Type 2 diabetes. “It had never even occurred to me that this could happen. I had heard that outside India this happens to other people’s kids but I never […]
Loan Profile
Apr 18, 2011 (LBO) – RAM Ratings Lanka has confirmed Bartleet Finance’s BBB- long-term rating and raised its outlook to stable from negative, a statement said. The rating agency also confirmed the short-term financial institution rating of Bartleet Finance (BFL) at P3. The revision of the outlook was prompted by the improvement in the profile […]
Lucky Thirteen
Apr 18, 2011 (LBO) – Sri Lanka’s Commercial Bank has been chosen as the ‘Best Bank in Sri Lanka’ for the 13th successive year by the Global Finance magazine. It chose winners through a broad-based assessment of growth in assets, profitability, strategic relationships, customer service, competitive pricing and innovative products, a bank statement said. Commercial […]
Sri Lanka shares end weaker
Apr 18, 2011 (LBO) – Sri Lankan shares closed slightly weaker Monday after a holiday break with heavy trading of a recently listed firm and interest in banking and aluminium stocks, brokers said. Alufab also saw active trading, closing at 97, up 20. 40 or 26.6 percent. The stock exchange said a 10 percent price […]