Author: lbostgadmin
‘s PM concedes to new telecom scam probe
NEW DELHI, February 22, 2011 (AFP) – India’s premier on Tuesday bowed to opposition pressure to set up a cross-party probe into the government’s tainted 2008 sales of telecom licences which cost the country up to billion. Observers say the ruling Congress party’s woes have led to policy drift with important economic reform legislation put […]
Health Cost
Feb 22, 2011 (LBO) – Sri Lanka faces rising health care costs as the population ages with an increase in non-communicable diseases (NCD) like diabetes, heart disease, cancers and asthma, a recent World Bank study said. “More effective legislation on the use of trans fats and tobacco and educating the public to reduce salt and […]
Sri Lanka looks for working group to iron out fishery poaching
Feb 22, 2011 (LBO) – Sri Lanka is looking to begin talks through a joint working group with India to find a long term solution to fishery poaching in Sri Lanka’s northern waters, President Mahinda Rajapaksa said. “We want to re-activate the mechanism of an India and Sri Lanka joint working group to find a […]
Motor Sale
Feb 22, 2011 (LBO) – United Motors, local agents in Sri Lanka for brand new Mitsubishi vehicles, has sold its subsidiary Orient Financial Services Corporation for 230 million rupees, a stock exchange filing said. The buyer of the unit, which does vehicle leasing and contract hire business, was People’s Venture Investment Company, part of the […]
Sri Lanka shares end 1.3-pct lower
Feb 22, 2011(LBO) – Sri Lankan stocks closed 1. 34 percent down with losses seen across the board, brokers said. The All Share Price Index closed at 7,514.74, down 1.34 percent (102.45 points) while the Milanka Price Index of more liquid stocks closed at 7,160.38, down 1.09 percent (78.94 points) according to stock exchange provisional […]
Sri Lanka keeps tabs on market pulse for sovereign bond sale
Feb 22, 2011 (LBO) – Sri Lanka will study market conditions for a bond sale this year, Treasury secretary P B Jayasundera said. “We have to study the market conditions,” Jayasundera said. “In any case it takes about six months preparation to launch a bond.” Last September Sri Lanka raised a billion dollars from international […]
‘s
Feb 21, 2011 (LBO) – A devaluation of Vietnam’s currency by 9.0 percent may increase bank bad loans, especially where dollar loans were given to customers with local currency revenues and hurt capital, Moody’s, a rating agency has said. A weaker dong increases prices throughout the economy, with internationally traded goods, whether imported or exported […]
Kenya, Canada steamrollered at World Cup
NEW DELHI, February 20, 2011 (AFP) – New Zealand crushed Kenya Sunday in an embarrassingly one-sided World Cup mismatch and joint hosts Sri Lanka destroyed Canada on a sobering day for the minnows of the game. Kenya were beaten by 10 wickets after being dismissed for just 69 — their lowest ever World Cup total […]
Bring on Pakistan, say confident Sri Lanka
HAMBANTOTA, February 21, 2011 (AFP) – Former Sri Lanka captain Mahela Jayawardene said his team was looking forward to their first real test in the World Cup against Pakistan after crushing Canada in their opening match. Jaywardene gave the 1996 champions a flying start with an 80-ball century to help his team to a solid […]
Sri Lanka power utility in black in 2010: minister
Feb 21, 2011 (LBO) – Sri Lanka’s state-run power utility, the Ceylon Electricity Board, came out of the red in 2010 but is expected to make a 16 billion rupee loss in 2011 on a planned path to break even in 2014, power minister Patali Ranawaka said. The Ceylon Electricity Board made a profit of […]
Sri Lanka navy foils smuggling mission to Australia
February 21, 2011 (AFP) – Sri Lanka arrested 17 would-be illegal immigrants aboard a trawler allegedly heading to Australia, the navy said Monday. The boat was detected off the southern coast of Hambantota on Thursday and brought ashore for investigations, the navy said in a statement. Boats from Sri Lanka take up to three weeks […]
‘ Forum
Feb 21, 2011 (LBO) – Sri Lanka Institute of Marketing (SLIM), an industry body, is hosting a forum on consumer trends to promote more research based marketing and best practices. “As the national body of marketing we want to encourage best practices in terms of research, advertising, branding and sales,” SLIM president Rohan Somawansa, President, […]