Author: lbostgadmin
‘s fake pilots
NEW DELHI, March 24, 2011 (AFP) – India’s fake pilot scandal began unravelling when a female captain landed her packed airliner on the nose instead of the rear wheels as she touched down in the holiday hotspot of Goa. Parminder Kaur Gulati, flying for the fastest-growing airline in the booming Indian sector, IndiGo, was investigated […]
‘s wealthy for charity
NEW DELHI, March 24, 2011 (AFP) – Two of the world’s richest men, Bill Gates and Warren Buffett, took their charity roadshow to New Delhi on Thursday where they hope to coax their Indian peers to part with some of their wealth. Buffett, 80, and Gates, 55, who are close personal friends, were to meet […]
Niche Target
Mar 24, 2011 (LBO) – Sri Lanka’s information technology and business process outsourcing sector is positioning itself as a niche player targeting finance and accounting, telco, travel and aviation sectors, an official said. “We will focus on SMEs (small and medium enterprises), more that 90 percent of us are working with SMEs in other countries,” […]
Galleon Case
NEW YORK, March 23, 2011 (AFP) – Goldman Sachs boss Lloyd Blankfein on Wednesday testified at the biggest Wall Street insider trading trial in years about how a former director at the storied bank broke confidentiality rules. Blankfein said former Goldman director Rajat Gupta broke the firm’s internal regulations in 2008 by giving hedge fund […]
Sri Lanka shares close up 0.13-pct
Mar 24, 2011 (LBO) – Sri Lankan shares closed higher Thursday with the sale of a controlling stake in a sugar plantations firm boosting turnover and dominating the day’s trade, brokers said. The All Share Price Index closed at 7,216. 75, up 0.13 percent (9.65 points) while the more liquid Milanka index rose 0. 26 […]
Sri Lanka power demand hits new peak
Mar 23, 2011 (LBO) – Sri Lanka’s night power demand hit a new peak load of 2,000 MegaWatts on Tuesday amid hot seasonal weather and growing usage, in a day that the utility officially commissioned a new 300 MegaWatt coal plant. Power demand hit a peak of 1,999 MegaWatts at 7. 30 in the evening […]
Sri Lanka insurers need skills to manage forex risk: rating agency
Mar 23, 2011 (LBO) – Sri Lanka’s insurers will need skills and rules to manage foreign exchange risk after the regulators allowed up to 20 percent of their reserves to be invested abroad, a rating agency has said. Meanwhile life premium had risen 16 percent in the first half of 2010. RAM Ratings Lanka said […]
International Board
MADRID, March 22, 2011 (AFP) – The London Stock Exchange on Tuesday announced plans to create an unprecedented trading network that will allow blue-chip stocks to be traded in up to six countries. The planned partnership follows news of a planned merger between the London and Toronto stock exchanges, illustrating once again the move towards […]
Restricted Entry
Mar 23, 2011 (LBO) – A new British student visa scheme will restrict immigration, with a higher English standard, no right to work and a time limit to study for degrees while encouraging student entrepreneurs. A British High Commission statement said the new scheme is meant to prevent abuse of the system while making it […]
Sri Lanka sees interest from Marriot, Hyatt
Mar 23, 2011 (LBO) – International hotel chains Marriot and Hyatt have shown interest in Sri Lanka’s southern Hambantota city, which is bidding for the 2018 Commonwealth Games, an official said. Sri Lanka’s tourist development authority chief Nalaka Godahewa said Marriot and Hyatt have looked for land in Hambantota to build hotels, though no applications […]
Sri Lanka shares close down 0.18-pct
Mar 23, 2011 (LBO) – Sri Lankan shares ended mixed in choppy trade, with the indices going in different directions and Guardian Capital Partners dropping 83.15 percent, brokers said. Tea Smallholder Factories was the day’s top gainer, closing at 224. 50 rupees, up 54.50 rupees or 32 percent although only 200 shares were traded. Foreign […]
Sri Lank Treasuries yields steady
Mar 23, 2011 (LBO) – Yields on Sri Lanka’s Treasury bills were largely steady at the weekly auction with the government rolling over nine billion rupees in maturing bills, a statement said. The government’s debt office, a unit of the Central Bank, said the three-month yields edged up one basis point to 6.98 percent, six-month […]