Author: lbostgadmin
Sri Lanka stocks close down 0.79-pct
Oct 25, 2010 (LBO) – Sri Lanka stocks closed down Monday, dragged down by index heavy stocks like John Keells Holdings (JKH) and Aitken Spence, brokers said. Sampth bank closed at 295.10 rupees, up 21.50 (7.86 percent) while HNB, closed at 407.00 rupees, up 6.70 (1.67 percent). There were 53 gainers and 148 losers. The […]
Singapore, Australian bourses to form new trading powerhouse
SINGAPORE, October 25, 2010 (AFP) – The Singapore and Australian stock exchanges on Monday announced a multi-billion dollar merger that will create one of the world’s largest and most diversified financial trading hubs. Singapore’s SGX offered 8.2 billion US dollars to take over Australia’s ASX to form ASX-SGX Ltd, which will be the world’s fifth […]
‘s lone gold medallist fails dope test: report
October 24, 2010 (AFP) – Sri Lanka’s only gold medallist at this month’s Commonwealth Games, boxer Manju Wanniarachchi, has tested positive for a banned steroid, a report said Sunday. The privately run Lakbima News newspaper said Wanniarachchi, 30, who had brought home the island’s first Commonwealth boxing gold in 72 years, had tested positive for […]
Sri Lanka power utility fights fire at Chinese built coal plant
Oct 24, 2010 (LBO) – A fire has broken out at Sri Lanka’s first coal burning power plant in Sri Lanka Western coastal town of Norochcholai which was scheduled to start test operations next month, but it is being brought under control, a top official said. Chairman of state-run Ceylon Electricity Board, Vidya Amarapala said […]
India microlenders face heat over rates and debt recovery
NEW DELHI, October 24, 2010 (AFP) – India’s biggest lender to the poor, SKS Microfinance, was the toast of investors when it staged a hugely successful public share offer three months ago. Now SKS, India’s only listed microfinancier, faces an unwelcome spotlight as it and other small-scale lenders come under scrutiny over high interest rates, […]
Pakistan president to visit Sri Lanka: official
October 24, 2010 (AFP) – Pakistan President Asif Ali Zardari will visit Sri Lanka next month in a bid to boost trade and security cooperation, an official said Sunday. Zardari will be accompanied by foreign minister Shah Mehmood Qureshi and a group of Pakistani businessmen, a foreign ministry official said. “The two days of meetings […]
Golden Key
Oct 24, 2010 (LBO) – Sri Lanka will file criminal charges against directors of Golden Key Credit Card Company, an unregulated firm promising high interest rates that collapsed owing 26 billion rupees to investors, a media report said. Another media report by The Sunday Times newspaper said some depositors had filed an affidavit at an […]
‘s one-day win
BRISBANE, October 22, 2010 (AFP) – Skipper Kumar Sangakkara hammered 110 off 95 balls as Sri Lanka blazed to a score of 301 on their way to a 112-run win over Queensland in their opening Australian tour match on Friday. The Sri Lankans, building up to their three-match one-day international series with Australia next month, […]
Sri Lanka coconut prices hit new highs amid trade protection
Oct 23, 2010 (LBO) – Sri Lanka’s fresh coconut prices hit a new high at this week’s auction in Colombo, compounded by state interventions that restrict trade and keep prices of substitutes at higher than global levels. At Thursday’s auction of fresh coconuts in Colombo – which is a proxy for farm gate prices – […]
Canada unveils law to curb illegal immigration
OTTAWA, October 21, 2010 (AFP) – The Canadian government on Thursday unveiled legislation aimed at curbing illegal immigration and human smuggling by imposing stiff penalties and even detaining asylum seekers. The arrival of two ships carrying illegal migrants over the past year “clearly demonstrates that human smuggling networks are targeting Canada as a destination and […]
Paradise Isle
Oct 22, 2010 (LBO) – Sri Lanka has been awarded the record for the world’s “largest cup of tea,” but the stunt earlier this month may have also earned the island some gargantuan and enormously meaningless records. Had it coincided with the height of the monsoon, we could have also claimed the world’s largest cup […]
Port Prospects
Oct 22, 2010 (LBO) – A new port being built in Sri Lanka’s southern Hambantota has drawn investment proposals from local and foreign businesses including the local Senok Combine and Micro Car for vehicle assembly, officials said. The second phase will expand and deepen the harbour, adding more berths and cranes to handle containers. Madras […]