Author: lbostgadmin
Sri Lanka joins chorus against Fed QE2
Feb 25, 2011 (LBO) – Sri Lanka joined the chorus of developing nations voicing concerns about the negative effects of Federal Reserve’s latest money printing exercise known as ‘quantity easing’ at an Asian monetary forum newly backed by China. Ultra loose US monetary policy has flooded developing countries that are pegged to the US dollar […]
Sri Lanka rejects EU trade deal: European lawmaker
Feb 25, 2011 (LBO) – Sri Lanka has told the European Union it does not want to renew a trade deal that was withdrawn over EU concerns about human rights abuses in the island’s ethnic war, a visiting EU lawmaker said. Jean Lambert, member of the European Parliament, said talks with Sri Lankan government officials […]
‘ Donuts takes the plunge in India
NEW DELHI, February 24, 2011 (AFP) – US-based Dunkin’ Donuts, one of the world’s largest coffee and baked goods chains, is set to enter India after striking a franchise deal, the company’s Indian partner said Thursday. The announcement came barely a month after US rival Starbucks unveiled a similar partnership with the giant Indian conglomerate […]
Sri Lanka tea quality season hit by bad weather
Feb 25, 2011 (LBO) – Bad weather has disrupted the Sri Lankan tea industry’s ‘Western quality season’ when teas grown on the western slopes of the island’s central massif yield their best quality and fetch high prices, brokers said. The season, which is in the first quarter of the year “has been badly disrupted due […]
Sri Lanka shares close 1.69-pct higher
Feb 25, 2011(LBO) – Sri Lankan stocks closed 1.69 percent higher Friday with gains in the investment trust and oil palm stocks, brokers said. The All Share Price Index closed at 7,711. 62, up 1.69 percent (128.20 points) while the Milanka Price Index of more liquid stocks closed at 7,169. 35, down 0.09 percent (6.71 […]
Sri Lanka urged by World Bank to control trans fat content in food
Feb 24, 2011 (LBO) – The World Bank has urged Sri Lanka bring laws to encourage good food processing practices and control trans fats content in food in the fight against rising non-communicable diseases (NCD) like heart attacks. “The ministry of industries (might have to get involved) in decisions about taxes on high sugar products […]
Thousands of migrants flee Libya into Tunisia: agency
GENEVA, February 23, 2011 (AFP) – Several thousand foreign migrants from Libya have crossed the Tunisian border in the first major exodus to Tunisia since the Libyan turmoil began, the International Organisation for Migration said on Wednesday. The UNHCR was locating possible sites for camps in case larger numbers arrive. Fleeing migrants said they had […]
Sri Lanka seeks to rescue stranded nationals in Libya
Feb 24, 2011 (LBO) – Sri Lanka is seeking rescue by ship nationals stranded in Libya from where foreigners and migrant workers are fleeing the violence triggered by a public uprising against the government, a spokesman said. “We have despatched a ship,” media minister Keheliya Rambukwella told a news conference. AFP news agency reported that […]
Pakistan grapple with Sri Lanka M-factor
February 24, 2011 (AFP) – Pakistan will look to blunt Lasith Malinga and wily off-spinner Muttiah Muralitharan in their Group A encounter against Sri Lanka on Saturday, with captain Shahid Afridi confident of a win. Co-hosts Sri Lanka, champions in 1996, and 1992 winners Pakistan are off to flying starts in the tournament with convincing […]
Bank Net
Feb 24, 2011 (LBO) – Sri Lanka’s NDB Bank’s net profit for the December 2010 quarter rose 25 percent to 607 million rupees from a year earlier while the full year net rose 3. 0 percent to 2.14 billion rupees. The bank is reporting 26.22 rupees earning per share for the year. In the December […]
Net Margins
Feb 24, 2011 (LBO) – Sri Lanka’s Commercial Bank said profits in the December 2010 quarter rose 46.8 percent to 1.77 billion rupees while the full year profits rose 31 percent to 5.5 billion rupees, helped by stronger credit growth. The non-performing loan ratio has improved to 4.22 percent by end December 2010, from 6. […]
‘ Parley
Feb 24, 2011 (LBO) – The heads of east Asian central banks begin a meeting in the Sri Lankan capital Colombo Friday to discuss challenges facing monetary authorities in emerging markets after the global financial crisis. The Central Bank of Sri Lanka will host the 46th South East Asian Central Banks (SEACEN) Governors’ conference, high-level […]