Author: lbostgadmin
‘s seas
PENANG, November 10, 2010 (AFP) – Overfishing in Southeast Asian seas has left garoupas and sea bass in dire straits, searching for mates on denuded seabeds, according to experts alarmed by ever-declining catches. Marine scientists and fishermen say that popular fish species — especially the large and valuable ones — have been caught indiscriminately, causing […]
Sri Lanka estate workers get Indian aid for homes
Nov 10, 2010 (LBO) – India will build 5,000 homes for workers on Sri Lanka’s plantations in the central hills which are a key sector of the island economy, a statement from the Indian High Commission said. Indian High Commissioner Ashok Kantha announced the stepping up of Indian assistance for people in the hill country […]
Investment Banking
Nov 10, 2010 (LBO) – Sri Lanka’s state-run Bank of Ceylon has beefed up its investment banking unit and is looking to win new business as the government is planning to sell down commercial enterprises in the stock market, a top official said. “The investing banking division will engage in equity participation, mergers and acquisitions, […]
Terminal Tales
Nov 10, 2010 (LBO) – South Asia Gateway Terminals (SAGT), an associate of Sri Lankan conglomerate John Keells Holdings, said volumes rose 17 percent in October to 173,528 containers from a year ago. SAGT is 42.2 percent owned by JKH and has been contributing a big chunk of the conglomerate’s profits in recent years, along […]
Sri Lanka stocks end weaker
Nov 10, 2010 (LBO) – Sri Lankan stocks slumped again Wednesday, extending a losing streak, with trading drying up and a few private deals in units of the John Keells Holdings group, brokers said. The All Share Price Index closed at 6,535. 09, down 0.87 percent (57.29 points) while the more liquid Milanka index fell […]
Sri Lanka Asiri Hospitals group net down 52-pct
Nov 10, 2010 (LBO) – Sri Lanka’s Asiri Hospitals group profit fell 52 percent to 23.3 million rupees though revenues rose 22. 2 percent to 1,197 million rupees in the September 2010 quarter from a year earlier, interim accounts showed. Administrative costs rose 54 percent to 324 million rupees. Finance costs also rose 36 percent […]
Sri Lanka Treasuries yields flat after moving above policy rate
Nov 10, 2010 (LBO) – Sri Lanka’s Treasury bill yields were flat at Wednesday’s auction after yields of all maturities moved over the central bank’s policy rate of 7. 25 percent a week earlier, data released by the government’s debt office showed. The 3-month yield edged up one basis point to 7.30 percent, the 6-month […]
World Bank chief fires gold standard debate amid Fed money printing
Nov 09, 2010 (LBO) – World Bank chief Robert Zoellick has fired a debate on a return to gold as a monetary anchor with the United States engaging in new money printing, threatening to send food and other commodity prices higher. Federal Reserve chief Ben Bernanke dubbed ‘Bubble Ben’ by his detractors who are critical […]
”’ bankrupts 2,000 bakers: industry
November 9, 2010 (AFP) – A Sri Lankan government campaign against bread and other wheat products has forced some 2,000 bakers out of business and left many more under threat, an industry body said Tuesday. The All Ceylon Bakery Owners’ Association said more than a quarter of bakers in the island had closed down this […]
Sri Lanka seeks advisor for Commonwealth Games bid
Nov 09, 2010 (LBO) – Sri Lanka seeks to hire a consultancy firm to advise the government on its bid to stage the Commonwealth Games in 2018 in the southern city of Hambantota, the central bank said. Central bank governor Nivard Cabraal has been appointed to head an organizing committee which will handle the island’s […]
” by RAM
Nov 08, 2010 (LBO) – Sri Lanka’s state-run National Insurance Trust Fund has been given a ‘claims paying ability’ rating of ‘AAA’ with a ‘stable’ outlook by RAM Ratings on the strength of state ownership and government related business. NITF had an expense ratio of 11.09 percent in 2009 which was the lowest in the […]
Bangladesh plans mass privatisations to cool stock market
DHAKA, November 8, 2010 (AFP) – Bangladesh will offload stakes in dozens of state-owned enterprises as part of a major government effort to cool down the country’s overheated stock exchange, its finance minister said Monday. Eight state-owned firms, including major energy and power firms, which are already listed will be made to sell more shares, […]