Author: lbostgadmin
Sri Lankan stocks close down 0.39-pct
July 29, 2010 (LBO) – Sri Lankan shares closed lower after hitting fresh highs in intra-day trade Thursday, as investors continued to buy amidst some profit taking, while retail investors chased after ‘penny’ stocks, brokers said. Hemas Holdings closed at 42.00 rupees, up 2.00 with 3.32 million shares traded, Aitken Spence closed flat at 1,900. […]
SriLankan Airlines wins Singapore award for growth
July 28, 2010 (LBO) – SriLankan Airlines has won an award from Singapore’s Changi airport for having the highest growth in traffic to the city state from the region last year, a statement said. The award was for ˜Top Airline by Growth in Passenger Carriage (South Asia)’. Travel between Singapore and Sri Lanka has grown […]
Soros to buy 4.0 percent stake in Bombay bourse: report
MUMBAI, July 28, 2010 (AFP) – Billionaire investor George Soros is close to sealing a 40-million-dollar deal to buy Dubai Holding’s 4. 0 percent stake in the Bombay Stock Exchange (BSE), the Financial Times reported Wednesday. If the purchase goes through, it would be the latest in a series of strategic foreign investments in India’s […]
Tech Ventures
July 28, 2010 (LBO) – Two companies plan to set electronic commerce ventures in Sri Lanka which is promoting itself as a site for business process outsourcing, the Board of Investment said in a statement. The investment promotion agency said it has given investment approval to Senit Technologies and Vingrows Business Solutions to start operations […]
Regional Role
July 28, 2010 (LBO) – Sri Lanka could issue Islamic finance sovereign bonds or ‘Sukuks’ and take the lead in becoming a regional centre for Islamic financial services which other countries with less experience are aiming for, an official said. “Australia and Mauritius have said they want to be hubs for Islamic finance,” says Rushdi […]
Relief Appeal
July 28, 2010 (LBO) – Depositors of a failed Sri Lankan finance company desperate to get their money back want to petition the United Nations human rights council saying their fundamental rights have been violated, a spokeswoman said. Only a few depositors had benefitted from a government repayment scheme for those who had money in […]
Logistical Skills
July 28, 2010 (LBO) – Several batches of transport professionals will graduate from Sri Lankan universities and academies this year, easing a skills shortfall as the island seeks to become a hub for the region, an official said. “This program which is offered through the Faculty of Engineering will produce graduates especially skilled in professional […]
Sri Lankan stocks close up 2.81-pct
July 28, 2010 (LBO) – Sri Lankan shares closed at a new high Wednesday, up 2. 81 percent from price appreciation on high value and midcap stocks on low volume trading, brokers said. The All Share Price Index closed at 5,139.42, up 140.37 points, while the more liquid Milanka index rose 2. 70 percent (152.81 […]
Sri Lanka Treasuries yields slip
July 28, 2010 (LBO) – Sri Lanka’s Treasury bill yields slipped between 02 to 09 basis points at Wednesday’s auction, despite the government raising fresh money, the debt office said. The debt office sold 1.624 billion rupees in 3-month bills, 5.325 billion in 6-month bills and 6.560 billion rupees in 12-month bills. The 3-month yield […]
Sri Lanka Keells Food trims Indian costs, cuts losses
July 27, 2010 (LBO) – Sri Lanka’s Keells Foods Products said its lost 5. 0 million in the June 2010 quarter down from 8. 6 million rupees a year earlier and its Indian distribution unit was being wound down in favour of an agency to cut costs. Consolidated revenues rose 16 percent to 479. 6 […]
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 […]