Author: lbostgadmin
Rains delay Sri Lanka victory parade, 200,000 displaced
May 17, 2010 (AFP) – Heavy rains forced the indefinite postponement of Sri Lanka’s military parade marking the first anniversary of its defeat of Tamil rebels, officials said Monday as flash floods killed four people. The island’s two main monsoon seasons run from May to September and December to February. The victory celebrations scheduled for […]
Made in where? Euro MPs want to know where clothes come from
STRASBOURG, May 18, 2010 (AFP) – The European parliament on Tuesday called for clothes sold in Europe to clearly show the country of origin, in order to easily identify products from nations where production costs are low. EU Industry Commissioner Antoni Tajani stressed the need to prevent dumping on European markets. The EU MPs, meeting […]
Sri Lanka Ceylinco Insurance net up 9-pct in March
May 18, 2010 (LBO) – Sri Lanka’s Ceylinco Insurance Company said net profits for the March 2010 quarter were up 9 percent to 110.5 million rupees from a year earlier though gross written premiums were flat at 4.4 billion rupees with lower general business. Basic earnings per share were 4. 19 rupees for the quarter, […]
India struggles to count its millions
NEW DELHI, May 18, 2010 (AFP) – In a labyrinthine district of New Delhi, Kalpana Singh is busy knocking on doors, straining to make out house numbers scratched on the walls and warmly greeting residents with a smile. She is on a mission to record and document the occupants of the teeming and decrepit area […]
Customs Info
May 18, 2010 (LBO) – Sri Lanka’s Financial Intelligence Unit (FIU) has signed a deal with the country’s customs office to share information to help counter money laundering and terrorist financing. The FIU says it is chasing more information sharing deal with other domestic agencies. “The Financial Intelligence Unit and other authorities such as Sri […]
Sri Lanka promotes specialty teas in Japan
May 18, 2010 (LBO) – Sri Lanka is promoting the manufacture of specialty teas by its industry, with a competition in Japan giving recognition to producers and earning top prices, officials said. Anil Cooke, chairman of the Colombo Tea Brokers’ Association, said Sri Lanka has seven distinct growing regions and 36 valleys and growing districts. […]
Multi Finance
May 18, 2010 (LBO) – Ram Ratings Lanka said it had confirmed the ‘BB’- long term rating and NP short term rating of Sri Lanka’s Multi Finance Company Limited (MFL) and withdrawn it at the firm’s request. “On a related note, MFL’s performance has remained weak, burdened by hefty overheads.” Ram said while a one-off […]
Finance Numbers
May 18, 2010 (LBO) – Central Finance Company Limited (CFCL) group March quarter profits dipped 11 percent to 298.2 million rupees due to a steep jump in tax costs from a year ago, a stock exchange filing said. For the full year profits had dipped 7.1 percent to 1.0 billion rupees, its accounts showed. In […]
Sri Lankan stocks close 0.36-pct up, Com Bank heavily traded
May 18, 2010 (LBO) – Sri Lankan shares bounced back Tuesday as price gains on index heavy high value stocks pushed the market up, while heavy institutional interest on Commercial Bank drove trading volumes up, brokers said. The All Share Price Index closed at 4,257.67, up 15.18 points, while the Milanka index of more liquid […]
Sri Lanka state revenues up in February: data
May 17, 2010 (LBO) – Sri Lanka’s state revenues picked up sharply in February 2010 to 108. 6 billion rupees in the first two months, up 17 percent from a year earlier, containing the budget deficit at around last year’s level, despite rising current spending, official data showed. Current expenses rose 7.2 percent to 181.3 […]
Sri Lanka slammed over civilian deaths, one year after war end
May 17, 2010 (AFP) – The Sri Lankan government killed thousands of its civilians by shelling “no-fire zones” in the last months of the country’s decades-long civil war that ended a year ago, an independent group said Monday. The Brussels-based International Crisis Group urged the United Nations and Sri Lanka’s aid donors to press for […]
Sri Lanka Tokyo Cement sets up unit to sell excess power
May 17, 2010 (LBO) – Sri Lanka’s Tokyo Cement Company (Lanka) has set up a fully-owned subsidiary to sell excess electricity from a power plant at a cement factory to the island’s national grid. The company said in a stock exchange filing the subsidiary, Tokyo Cement Power (Lanka), will start commercial operations after getting the […]