Author: lbostgadmin
Malaysia vows to curb illegal migration to Australia
KUALA LUMPUR, August 4, 2010 (AFP) – Malaysia said Wednesday it was confident of halting the flow of illegal migrants to Australia, after introducing tough penalties for smugglers using the country as a transit point. Malaysia can now impose harsh sentences including jail terms of up to 20 years, and fines of up to 1.0 […]
Sri Lanka Kelani Valley Plantations June net down 82-pct
Aug 04, 2010 (LBO) – Sri Lanka’s Kelani Valley Plantations net profit for the June 2010 quarter fell 82 percent to seven million rupees from a year ago as costs shot up and tea prices fell, a stock exchange filing said. Sales of the firm which grows tea and rubber and is a subsidiary of […]
Sri Lankan stocks close up 1.12-pct
Aug 04, 2010 (LBO) – Sri Lankan shares closed up Wednesday, from price gains on selected midcap and high value stocks, while a private deal on Asian Hotels and heavy retail interest on market debutant Odel, boosted turnover, brokers said. The All Share Price Index closed at 5,214.84 up 58.01 points, while the Milanka index […]
Sri Lanka bond auction yields slip
Aug 04, 2010 (LBO) – Sri Lanka’s 4-year bond yields slipped 13 basis points to 9. 40 percent and 6-year bonds fell 3 basis points to 9.65 percent and 10-year bonds were at 9.80 percent Tuesday, results released from the government debt office showed. The government sold 1.4 billion rupees worth bonds from the 4-year […]
Sri Lanka to issue US$1bn bond in Sept
Aug 04, 2010 (LBO) – Sri Lanka is to issue an international sovereign bond of a billion dollars around September 2010 to raise cash to fund infrastructure and retire debt, the central bank said in a statement. “The proceeds from the bond issue would be use for infrastructure development and to restructure the existing government […]
Sri Lanka Treasuries yields fall
Aug 04, 2010 (LBO) – Sri Lanka’s Treasury bill yields slipped 12 to 20 basis points Wednesday with one year yields falling most, auction results from the government debt office showed. The debt office sold 1.1 billion rupees in 3 months bills, 4.8 billion rupees in 6-month bills and 7.6 billion rupees in 12-month bills. […]
Sri Lankan war refugees remain homeless: Tamil party
August 2, 2010 (AFP) – Thousands of men, women and children displaced by Sri Lanka’s civil war are living in the open air 15 months after fighting ended, the island’s main Tamil political party said Monday. The Tamil National Alliance (TNA) said the government’s promise that the civilians would be allowed to return to their […]
Sri Lanka May exports up 15% to $620mn, garments recover
Aug 03, 2010 (LBO) – Sri Lanka’s exports in May 2010 rose 15 percent to 620 million US dollars from a year ago, helped by industrial exports, mainly apparel, and tea, the central bank said. Exports of apparel, the island’s main industrial export, rose 11 percent to 263 million dollars in May 2010 from the […]
Large gaps in Asia-Pacific development goals: UN
JAKARTA, August 3, 2010 (AFP) – South Asia is lagging behind the Asia-Pacific region in poverty and hunger reduction, and is in danger of missing these key targets in the UN’s millennium development goals, a UN official said Tuesday. Ministers from around the region gathered at a review of the millennium goals (MDGs) heard that […]
Fashionable Results
Aug 03, 2010 (LBO) – Sri Lankan retailer Odel group’s June profits rose 187 percent to 37 million rupees from a year ago owing to better margins despite higher tax and operating costs, its interim results showed. Odel group’s June quarter sales were up 62 percent to 692 million rupees, while cost of sales had […]
Sri Lanka Aitken Spence June net up 50-pct
Aug 03, 2010 (LBO) – Sri Lanka’s Aitken Spence group net profit in the June 2010 quarter rose 50 percent to 440 million rupees from a year ago, a stock exchange filing said. “We have aggressive plans to strengthen our tourism interests in the island to position Sri Lanka as a high-end sustainable tourism destination, […]
Strong Profile
Aug 03, 2010 (LBO) – Fitch Ratings Lanka said it has confirmed National Development Bank’s (NDB) National Long-term rating at ‘AA(lka)’ with a stable outlook. The agency has also confirmed NDB’s subordinated debentures at ‘AA-(lka)’. “The ratings reflect NDB’s strong financial profile relative to its peers,” a statement said. “The ratings are however constrained by […]