Author: lbostgadmin
Finance Listing
May 06, 2010 (LBO) – Sinhaputhra Finance, a regulated non-bank financial firm based in Sri Lanka’s hill country city of Kandy, has been given the nod for a listing on its second board, the Colombo Stock Exchange said. The firm will list 6,295,893 shares, the CSE statement said without elaborating. The firm will be listed […]
Sri Lankan stocks close flat
May 6, 2010 (LBO) – Sri Lankan shares closed flat Thursday as price drops on selected high value shares were compensated by price gains on small and midcap stocks, brokers said. This created a buying spree from retail investors who expect Nawaloka Hospitals financials to improve in coming quarters, brokers said. In a privately negotiated […]
Sri Lanka creates more state jobs, but costs mount
May 05, 2010 (LBO) – Sri Lanka’s expanding state has created more jobs in recent years but costs are mounting with 57. 6 cents out of every tax rupee being taken home by workers as salaries and pensions last year, official data shows. In 2009 Sri Lanka had increased state workers by a net 61,856, […]
Sri Lanka plans ethnic reconciliation panel
May 5, 2010 (AFP) – Sri Lanka plans to set up a reconciliation commission to foster ethnic unity as the island emerges from nearly four decades of bloody conflict, a state-run newspaper said Wednesday. Prime Minister D. M. Jayaratne said the government hoped the panel would ensure that majority Sinhalese and minority Tamils did not […]
Sri Lanka scales down state of emergency
May 5, 2010 (AFP) – Sri Lanka’s parliament on Wednesday scaled down tough state of emergency laws that were first introduced 27 years ago to deal with separatist Tamil rebels. Government troops finally defeated the Tamil Tiger guerrillas a year ago after a massive military offensive swiped out the rebels’ territory and killed their leaders. […]
” corruption undermines Indian media
NEW DELHI, May 5, 2010 (AFP) – The Indian media, a pillar of the country’s vibrant democracy, is riddled with corruption that sees journalists report stories for cash in a phenomenon known as “paid news,” a probe has revealed. The findings of an investigation for the Press Council of India, seen by AFP but yet […]
Regional Visit
May 05, 2010 (LBO) – HSBC’s Asia Pacific head of corporate real estate, Richley Featherstone is visiting Colombo to meet senior management and the head of the bank’s operations in Sri Lanka and Maldives. The corporate real estate department acts as the custodian of HSBC premises providing the right property at the right time to […]
Sri Lankan stocks close 0.3-pct up
May 05, 2010 (LBO) – Sri Lankan stocks closed 0.34 percent higher Wednesday as investors scrambled for Nawaloka Hospitals shares after it sold a large stake of Galadari Hotel which had hurt the hospital group’s balance sheet earlier, brokers said. The All Share Price Index closed at 4,219. 76, up 14.25 points while the Milanka […]
Sri Lanka Treasuries yields fall
May 05, 2010 (LBO) – Sri Lanka Treasury bill yields eased at Wednesday’s auction despite the government raising an additional billion rupees than the maturing stock, the government’s debt office said. The 3-month yield fell 16 basis points to 8.24 percent with only a billion rupees of bill being sold and the 6-month yield fell […]
Sri Lanka appoints new deputy finance minister
May 05, 2010 (LBO) – Sri Lankan president and finance minister Mahinda Rajapaksa has appointed Sarath Amunugama, a former cabinet minister, as deputy minister of finance and planning, the president’s office said in a statement. Amunugama was among four cabinet ministers and six deputy ministers sworn in Wednesday following parliamentary polls in April won by […]
Sri Lanka tax reforms, economically sound budget awaited by IMF
May 04, 2010 (LBO) – The International Monetary Fund is looking for an economically sound budget for Sri Lanka this year with tax reforms to cut the deficit as it starts discussions to resume a deal with the island, an official said. Sri Lanka’s government got parliamentary approval to spend money until April amid two […]
Rights groups welcome pardon for Sri Lanka editor
May 4, 2010 (AFP) – Media rights groups Tuesday welcomed Sri Lanka’s decision to pardon a Tamil editor sentenced to 20 years in prison, but urged the government to ensure he was allowed to return to work freely. Paris-based RSF — Reporters Without Borders — said J. S. Tissainayagam, who wrote about the plight of […]