Author: lbostgadmin
Sri Lankan stocks close up 0.84-pct
July 15, 2010 (LBO) – Sri Lankan stocks closed higher Thursday from price gains on manufacturing, hotel, hospital and banking shares, while retail investors continued to trade on speculative ‘penny’ stocks, brokers said. The All Share Price Index closed at 4,638.71, up 38.49 points, while the Milanka index of more liquid shares rose 0.99 percent […]
IMF to hire more Asians
Daejeon, KOREA July 14, 2010 (LBO) – The International Monetary Fund (IMF) plans to hire more Asians as it undergoes reforms and seeks to improve relations with Asia which is increasing its economic clout, a senior official said. Strauss-Kahn said that now 40 percent of his management team is from Asia. “So among the management […]
Sri Lankan cabinet meets in former Tiger capital
KILINOCHCHI, July 14, 2010 (AFP) – The president of Sri Lanka held a cabinet meeting on Wednesday in the northern town of Kilinochchi, the capital of the Tamil Tigers rebels until they were finally defeated last year. Rajapakse’s military offensive triggered international calls for a war crimes probe. The separatist guerrillas controlled one-third of Sri […]
Sri Lanka- British business expect post-war expansion
July 14, 2010 (LBO) – The Council for Business with Britain (CBB) made up of firms doing business with the UK is expecting more business volumes between the two countries with the end of a three decade long war. “As patron of the CBB, I am pleased to support this group in their on-going efforts […]
” awaits appeal verdict in Nepal
KATHMANDU, July 13, 2010 (AFP) – Nepal’s Supreme Court is set to rule Wednesday on an appeal by a Frenchman linked to a series of grisly backpacker killings across Asia in the 1970s who is contesting his murder conviction. Charles Sobhraj, a balding 65-year-old dubbed the “Bikini Killer,” could walk free if the court overturns […]
India says Pakistan intel oversaw Mumbai attacks: report
NEW DELHI, July 14, 2010 (AFP) – India has accused Pakistani intelligence services of overseeing the 2008 militant attacks on Mumbai, a report said Wednesday ahead of a major meeting between the rival nations. Home Secretary G. K. Pillai told the Indian Express newspaper that the level of involvement of Pakistan’s Inter-Services Intelligence (ISI) had […]
‘s double-digit inflation inches higher
NEW DELHI, July 14, 2010 (AFP) – India’s double-digit inflation edged higher in June, touching an annual rate of 10. 55 percent, official data showed Wednesday, stoking pressure for another interest rate hike this month. April’s inflation reading was revised higher to 11.23 percent — a 19-month peak, the data showed. But the central bank […]
Floor Plan
July 14, 2010 (LBO) – Sri Lanka’s telecom regulator is enforcing floor prices and interconnection rates for mobile phones from July 15, ending a price war that has put the industry deep in the red, though concerns remain. Sri Lanka had a ‘sender keep all’ regime for mobiles where all the revenue could be kept […]
Sri Lankan shares close up 0.97-pct
July 14, 2010 (LBO) – Sri Lanka stocks closed up Wednesday as investors re-entered the market looking for bargains, while ‘penny’ stocks continued to be actively traded despite wide price fluctuations, brokers said. Seylan Merchant Bank closed at 1.70 rupees, down 10 cents with over 11 million shares traded, while Piramal Glass of Ceylon closed […]
Sri Lanka bond prices to be made transparent
July 14, 2010 (LBO) – Sri Lanka’s bond prices will be made more transparent and a sovereign yield curve for the country is being developed with the country’s central bank Bloomberg, an international financial news and information provider said. The yield curve has become more market driven of late though some state-centric incestuous practices such […]
Sri Lanka Treasuries fall after rate cut
July 14, 2010 (LBO ) – Sri Lanka’s Treasuries yields fell Wednesday in the wake of a 25 basis point rate cut the previous Friday, according to auction results released by the government’s debt office. The 3-month yield fell 9 basis points to 7.98 percent, the 6-month yield fell 21 basis points to 8. 75 […]
IMF facilities seen as alternative for forex reserves
Daejeon, KOREA July 13, 2010 (LBO) – The International Monetary Fund (IMF) is considering creating new lending facilities to help countries cope with economic shocks and avoid the need to build costly foreign exchange reserves, officials said. Senior official from the IMF and South Korea, which is pushing the idea, said such a ‘global safety […]