Author: lbostgadmin
Truck People
Jan 28, 2011 (LBO) – Four Sri Lankans are among 219 migrants discovered by authorities squeezed into a truck in northern Mexico who were hoping to enter the United States, a media report said. The Washington Post newspaper said most of the migrants were from Central America but six were from Sri Lanka and four […]
Finance Capital
Jan 28, 2011 (LBO) – Sri Lanka’s listed The Finance Company, which is in a restructuring drive under regulatory supervision said it had raised 1. 6 billion from a share sale which had been oversubscribed. The Finance Company, earlier managed by the Ceylinco group offered 40 million shares at 40 rupees to raise capital. Depositors […]
Stock Carrots
Jan 28, 2011 (LBO) – Sri Lanka’s Sampath Bank said it intended to give stock options of up to three million shares to employees as a performance incentive if the bank reaches as yet undisclosed performance for 2011. The shares issued under the option plan would be 2.0 percent of the existing shares and will […]
New Cranes
Jan 28, 2011 (LBO) – Sri Lanka’s state run container terminal in Colombo port will get three gantry cranes and six transfer cranes from China in February which will be up and running by March, an official said. Sri Lanka Ports Authority chairman Priyath Bandu Wickrema said a team from the port is now in […]
Sri Lanka stocks close 0.2-pct lower
Jan 28, 2011(LBO) – Sri Lankan stocks closed down 0l2 percent Friday with index heavy stocks and the banks losing ground, brokers said. Hatton National Bank closed at 392.10, down 0.90 cents. Poultry stocks recovered some losses. Bairaha Farms closed 481.20, up 3.30 rupees while Grain Elevators closed 197.00, up14.60 rupees with over a million […]
Sri Lanka US embassy opens cultural link to Jaffna
Jan 27, 2011 (LBO) – Sri Lanka’s US embassy said it had set up an ‘American Corner’ in the northern Jaffna city, which will help people tap educational opportunities, knowledge and information technology. “An American Corner is much more than a small library where people can read books, magazines, or current newspapers,” Ambassador Patricia Butenis […]
Sri Lanka poultry firm net up five fold in Dec
Jan 27, 2011 (LBO) – Sri Lanka’s Bairaha Farms, a poultry breeder and processor said net profits for the December 2010 quarter rose 546 percent to 163 million rupees from a year earlier, with revenues growing 25 percent to 706 million rupees. The poultry industry is experiencing strong demand and high prices after a slump […]
Finance Rating
Jan 27, 2011 (LBO) – Sri Lanka’s Arpico Finance Company’s long-term rating has been confirmed at BB and its outlook lifted ‘positive’ from ‘stable’ on better asset quality and adequate capital, RAM Ratings said. Arpico Finance’s short-term rating has been confirmed at NP, RAM Ratings said. Outlook on the long-term rating has been revised to […]
Sri Lanka stocks close 0.4-pct lower
Jan 27, 2011(LBO) – Sri Lankan stocks closed down Thursday with poultry stocks running out of steam, while price banks also kept plantation stocks in check, brokers said. The All Share Price Index closed at 7,211.11, down 0.42 percent (-30.76 points) while the Milanka Price Index of more liquid stocks closed at 7,195.82, down 0.35 […]
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JOHANNESBURG, 2011 (AFP) – The global economic recovery is gaining traction but is “still at risk” because of eurozone debt worries and a lack of financial reform, the International Monetary Fund said on Tuesday. “Banks face significant funding needs now and over the next two years. In many advanced economies, we need to deal with […]
Sri Lanka military HQ to make way for hotels
January 26, 2011 (AFP) – The Sri Lankan government said Wednesday it was relocating the defence ministry and main army headquarters in Colombo to make way for a billion-dollar hotel project. An information department statement said the cabinet had decided to shift the military facilities from their prime, seafront location in the capital to the […]
‘s ex-chief loses appeal over parliamentary seat
January 25, 2011 (AFP) – Sri Lanka’s jailed former army chief Sarath Fonseka, who tried to unseat the president in elections, on Tuesday lost an appeal to retain his parliamentary seat. The Supreme Court ruled that a court martial verdict in September finding him guilty of arms procurement offences meant that he was no longer […]