Author: lbostgadmin
Sri Lanka stocks close down 1.9-pct
Nov 29, 2010 (LBO) – Sri Lanka stocks closed down 1. 9 percent Monday with index heavy stocks, including banks coming under selling pressure, brokers said. The All Share Price Index closed at 6,257.01, down 1.94 percent (124.060 points) while the Milanka index of liquid stocks dipped 1.93 percent (134.48 points) to close at 6,818.17, […]
‘s president seeks barter trade with Sri Lanka
November 29, 2010 (AFP) – Pakistani President Asif Ali Zardari called for a barter agreement with Sri Lanka on Monday to boost trade between the two countries. Zardari, on a visit to the island, told legislators that they should switch to exchanging their goods and services rather than depend on dollar-denominated import-export trade that drew […]
”’ US says: WikiLeaks
KABUL, November 29, 2010 (AFP) – Leaked US documents on Monday painted President Hamid Karzai’s controversial younger brother as a corrupt drugs baron, exposing deep US concerns about graft undermining the war against the Afghan Taliban. Internet whistleblower WikiLeaks has started to release quarter of a million confidential US diplomatic cables, detailing embarrassing and inflammatory […]
Tele Trends
Nov 29, 2010 (LBO) – Sri Lanka’s mobile subscribers grew 24.3 percent in the third quarter of 2010 from a year earlier, while fixed access sector grew at a much slower 3. 4 percent, official data show. During the past 12 months 3.2 million mobile users have been added according to data released by the […]
Tele Offer
Nov 29, 2010 (LBO) – Lanka Bell, a Sri Lankan wireless fixed access operator using CDMA (code division multiple access) technology controlled by listed Distilleries Company of Sri Lanka has been offered for sale. Suntel, a unit of Sweden’s Telia, Sri Lanka’s other fixed-access-only operator has also had talks with possible buyers. The telco was […]
Steady State
Nov 29, 2010 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) ‘A (lka)’ long term rating has been confirmed with a ‘stable’ outlook, Fitch Ratings Lanka said. Fitch has also confirmed an ‘A(lka)’ on a 500 million senior debenture and an ‘A-(lka)’ rating on a billion rupees subordinated debenture. The banks loans books contain a […]
Influence Tussle
Nov 29, 2010 (LBO) – Indian investors will be encouraged to invest in southern Sri Lanka where China has built a new port, according to remarks by India’s foreign minister, as both countries vie for influence on the island. Visiting Indian Minister of External Affairs S M Krishna said India’s decision to set up a […]
Sri Lankan spinners impress in drawn Windies Test
November 27, 2010 (AFP) – Sri Lanka’s spinners, led by Rangana Herath, put in an impressive performance as the second Test against the West Indies ended in a draw on the fifth and final day on Saturday. Left-armer Herath removed Dwayne Bravo, Sulieman Benn and Carlton Baugh as the West Indies were bowled out for […]
Sri Lanka hit by cascading power outage
Nov 28, 2010 (LBO) – Sri Lanka was hit by cascading outage Sunday afternoon after a key transmission line tripped out of the national grid, but officials at the state-run power utility said electricity was restored before nightfall. Power failed in most part of the island after a transmission lines from the Kotmale and Victoria […]
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DHAKA, November 28, 2010 (AFP) – In the home of cheap clothing manufacturing, the record price of cotton is causing havoc for producers — and the pain will pass down the chain to buyers in developed countries, analysts say. Bangladesh, the third-biggest producer of clothes worldwide, is one of the cheapest locations for manufacturing in […]
Be Nice
Nov 28, 2010 (LBO) – Sri Lanka’s central bank will support friendly mergers of banks, which can be difficult due to existing regulations, a media report said. Banks – especially those catering to different classes of risk – are needed to finance small and medium businesses. “We have had some feelers and have discussed it […]
Sri Lanka, India talks on sharing offshore oil, maritime border
Nov 27, 2010 (LBO) – India and Sri Lanka are to hold talks soon on sharing offshore petroleum resources straddling their maritime boundary and resolving conflicting claims to the continental shelf, an official said. A meeting of officials of the two neighbours is to be convened “at an early date”, said a statement at the […]