Author: lbostgadmin
” computer growth: official
WASHINGTON, March 31, 2010 (AFP) – India is about to witness an explosion in the spread of personal computers and Internet connectivity, visiting Minister of State for IT and Communications Sachin Pilot said Tuesday. Asked about US computer giant Dell’s reported intention to move its manufacturing facilities from China to India, Pilot only could confirm […]
Transit Point
KUALA LUMPUR, March 31, 2010 (AFP) – Malaysia on Wednesday launched a national plan against human trafficking as the country moves to quash its image as a transit point for traffickers. Home minister Hishammuddin Hussein said the five-year plan would strengthen anti-trafficking legislation and training and improve border security among measures to tackle the problem. […]
Sri Lanka tea wage hike erodes Malwatte Plantations profit
Mar 31, 2010 (LBO) – Sri Lanka’s Malwatte Valley Plantations said 2009 annual profits fell 99.3 percent to 2.15 million rupees from a year ago with a big loss in the December quarter on higher wage costs and gratuity provisions. Its financial results filed with the Colombo stock exchange showed December quarter losses shot up […]
Finance Demand
Mar 31, 2010 (LBO) – An initial public offering (IPO) by Sri Lanka’s Vallibel Finance to raise 114. 4 million rupees has been oversubscribed and will close Wednesday afternoon, a stock exchange filing said. The firm offered 5.2 million shares at 22 rupees each. The stock exchange filing said applications for 8,310,900 shares were received, […]
Fixed Interest
Mar 31, 2010 (LBO) – Fitch Ratings Lanka said it has assigned an ‘A-(lka)’ National Long-term rating to People’s Leasing Company Limited’s (PLC) proposed senior unsecured redeemable debentures of up to 630 million rupees. The rating agency said in a statement it has confirmed PLC’s national long-term rating at ‘A-(lka)’ with a stable outlook. The […]
Sri Lankan stocks close 1.08-pct down
Mar 31, 2010 (LBO) – Sri Lankan stocks closed lower Wednesday after the price of Environmental Resources Investments, an index heavy firm, fell owing to heavy retail selling with an ex-rights issue expiring Tuesday, brokers said. Colombo’s All Share Price Index closed at 3,724.59, down 40.48 points, while the Milanka index of more liquid shares […]
Sri Lanka grey market dollar premium high
Mar 31, 2010 (LBO) – Foreign exchange premiums in Sri Lanka’s kerb or black market have widened in recent months to about three rupees above the bank currency rate from below the rate a few years ago. A US dollar note is being sold in the kerb market for around 117.25/50 rupees compared to a […]
Sri Lanka inflation slows to 6.3-pct in March
Mar 31, 2010 (LBO) – Consumer prices in Sri Lanka’s capital Colombo rose 6.3 percent in March 2010 from a year earlier, down from 6.9 percent in February with the index falling 1. 0 percent in the month, the government’s statistics office said. In the month of March the Colombo consumer price index fell 1.0 […]
Sri Lanka rating agency takes ex-central banker on board
Mar 31, 2010 (LBO) – Sri Lanka’ RAM Ratings said it had appointed Priyanthi Liyanage, a former central banker to its board as an independent director. She is a qualified banker with service at the Bank of Ceylon and also in the Sri Lanka Administrative Service. Liyanage has 37 years’ experience in the state sector […]
Sri Lanka Combank shareholder meet canned over quorum
Mar 30, 2010 (LBO) – Sri Lanka’s listed Commercial Bank’s an annual general meeting of shareholders had not been held Tuesday due to the lack of a quorum, the Colombo Stock Exchange said. The meeting has been postponed to April 06. The shares due to be quoted ex-dividend from yesterday.
‘s ex-army chief could die in custody: wife
March 29, 2010 (AFP) – The wife of Sri Lanka’s detained ex-army chief Monday accused authorities of preventing her husband from receiving vital medical treatment and said he could die in custody. Sarath Fonseka’s health had deteriorated since he was held at the naval headquarters in Colombo after his arrest on February 8 and was […]
Sri Lanka Distilleries makes hydro power move
Mar 30, 2010 (LBO) – Sri Lanka’s Distilleries Company, said it was spending 750 million rupees to buy into a 4 MegaWatt hydro power plant in a tea plantation which is an associate firm in its group. Distilleries is part of the Stassen’s group controlled by businessmen Harry Jayewardene. Bogo Power Pvt Ltd, will be […]