Author: lbostgadmin
Paranavitana, Sangakkara torment India with tons
July 26, 2010 (AFP) – Tharanga Paranavitana and Kumar Sangakkara flayed India’s bowlers for centuries in consecutive matches as Sri Lanka dominated the opening day of the second Test on Monday. The left-handed duo, who made hundreds in their victorious first Test in Galle, put on 174 for the second wicket to help the hosts […]
India hikes rates for fourth time this year
MUMBAI, July 27, 2010 (AFP) – India’s central bank is expected to raise interest rates on Tuesday for the fourth time this year in an attempt to tame the highest inflation among the Group of 20 economic powers. The Congress-led government has been under constant attack from opposition parties for its inability to protect the […]
Grievances
July 27, 2010 (LBO) – Sri Lanka has not paid some owners of land acquired by the state for infrastructure for 25-years, and a total of 8. 5 billion rupees remains unpaid for property taken to expand roads, an official said. Vokes said the guide was developed with the help of Sri Lanka’s Road Development […]
Road Cash
July 27, 2010 (LBO) – Sri Lanka has asked for 500 million US dollars from the Asian Development Bank to build a new highway from the island’s capital Colombo which will speed up traffic to the north, officials said. “We are having discussions with the government,” ADB’s country director Richard Vokes told LBO. “We have […]
Sri Lanka stocks hit new high
July 27, 2010 (LBO) – Sri Lankan stocks hit a new high Tuesday, crossing 5,000 points for the first time before falling back as investors bought in anticipation of higher company earnings and foreign funds entering the market, brokers said. Company earnings are also improving with the improved business climate and lower interest rates and […]
Sri Lanka bond auction yields slip
July 27, 2010 (LBO) – Sri Lanka’s 5-year bond yields slipped 28 basis points to 9.62 percent and 6-year bonds fell 22 basis points to 9.68 percent on Tuesday from an auction on July 15, results released by the government debt office showed. Four year bonds (01-04.2014) were traded around 9.48 and closed at closed […]
Gas Concern
July 26, 2010 (LBO) – A large industrial user of liquefied petroleum gas as expressed concern over a proposed state take-over of a private gas distributor in Sri Lanka as energy sector management under state has created serious problems in the past. Lanka Tiles, a manufacturer and exporter of ceramic tiles says, it is braced […]
Sri Lanka economist with many faces: H N S Karunathilake
July 26, 2010 (LBO) – A scientist normally belongs to a single school of thought. He would follow the traditions, views and methods of that school to the letter. To the outside world, he shows himself up with a single face. Neville was practically teaching students in all the four years reading for economics and […]
Shares in India carmaker Maruti plunge on profit fall
MUMBAI, July 26, 2010 (AFP) – Shares in India’s biggest carmaker Maruti Suzuki plunged more than 10 percent on Monday after it reported a surprise 20-percent fall in quarterly net profit over the weekend. The shares of the New Delhi-based company, which is majority-owned by Japan’s Suzuki Motor Corp, were down by nearly 11 percent, […]
Mobile Performance
July 26, 2010 (LBO) – Sri Lankan mobile phone operator Dialog Axiata made a net profit of 1. 37 billion rupees in the June 2010 quarter compared with a loss of 7.24 billion rupees a year ago, a stock exchange filing said. Sales rose 14.3 percent to 10.16 billion rupees over the period while administration […]
Sri Lanka rubber prices rise on short supply
July 26, 200 (LBO) – Sri Lankan rubber prices rose again at last week’s auction on continued short supply as rain affected tapping but brokers said the shortage might ease if the current dry weather continues. “If the dry weather continues, in the next two weeks we might see increased volumes in the market.” Brokers […]
Money Back
July 26, 2010 (LBO) – Depositors in a failed Sri Lankan finance company have been paid back part of their money in the first phase of a repayment scheme with assets of the firm to be sold to raise more funds, the regulator said. “The committee will decide on the next installment of payment to […]