Author: lbostgadmin
‘s Allianz unit net up 64.5-pct, branch business up
Mar 30, 2010 (LBO) – Allianz Insurance Lanka, whose 2009 net profit rose 64.5 percent from a year ago, said most of its life insurance business was coming from newly established regional branches. “We are pleased to note that Sri Lankans are now demonstrating a much greater awareness of the Allianz identity,” Surekha Alles, chief […]
Credit Status
Mar 30, 2010 (LBO) – Credit to Sri Lanka’s private borrowers from commercial banks was steady at 1,195. 8 billion rupees in January 2010 while loans in domestic currency rose slightly, the latest official data shows. Loans from rupee books of commercial bank rose to 1,048.7 billion rupees in January from 10,43. 8 billion a […]
Sri Lankan stocks close 0.23-pct down
Mar 30, 2010 (LBO) – Sri Lankan stocks closed down Tuesday on weak buying interest while John Keells Holdings (JKH) came close to a billion US dollars in market capitalization brokers said. Colombo’s All Share Price Index closed at 3,765. 07, down 8.69 points, while the Milanka index of more liquid shares dipped 0.61 percent […]
Sri Lanka short term treasuries up
Mar 30, 2010 (LBO) – Sri Lanka short term Treasuries edged up slightly Wednesday but signs of further quantity easing emerged with only a part of a maturing tranche of bills being sold to real buyers. Three month bills edged up 7 basis points to 8.52 percent and the 6-month yield went up 05 basis […]
‘ futures evaporate in China drought
QIXINGCUN, March 29, 2010 (AFP) – Peasant farmer Dong Guicheng wakes up every morning hoping for rain, but each day a crippling drought instead brings more disappointment and desperation. In a scene repeated by millions of people in a vast area of China’s parched southwest, Dong treks daily to a dwindling reservoir to fetch scarce […]
Sri Lankans among failed Australia asylum seekers moved for security
SYDNEY, March 28, 2010 (AFP) – Australia said Sunday it had transferred 89 asylum seekers from a remote processing island to the mainland for security reasons after they failed to secure refugee status. The men from Sri Lanka, Afghanistan, Iraq and Iran had been held on the Indian Ocean outpost of Christmas Island but were […]
Sri Lanka president offers spiritual healer help to Beckham
March 27, 2010 (AFP) – Sri Lanka’s president has offered the services of his spiritual healer and personal physician to help injured footballer David Beckham get back on the field within three days. White, who says he has had “special powers” since the age of 12, studied traditional medicine. He then began treating thousands of […]
Sri Lanka economy grew 3.5-pct in 2009: statistics office
Mar 27, 2010 (LBO) – Sri Lanka’s economy grew 3.5 percent in 2009 pushed by growth in all three major sectors of economic activity, agriculture, industry and services, the Department of Census & Statistics (DCS) said in a statement. The Gross Domestic Product (GDP) growth was much slower than the six percent achieved in 2008, […]
Alternative Media
Mar 27, 2010 (LBO) – Sri Lanka’s Dialog Television (DTV) is opening sports content for advertising targeting affluent consumers and forecasts a sharp rise in subscribers by year-end, a senior official said. “It’s truly an alternative to mainstream media and helps you to reach groups with deeper pockets more cost-effectively. “From April 1 new channels […]
Sri Lanka gets foreign loans for tourism, roads
Mar 26, 2010 (LBO) – The World Bank has approved a loan of 18 million US dollars to Sri Lanka to develop sustainable tourism, international trade minister Gamini Peiris said. “These funds are to be used for infrastructure development,” Peiris said. “This is a matter of high priority for Sri Lanka now,” he told a […]
Sri Lanka Watawala Plantations creates new consumer products unit
Mar 26, 2010 9LBO) – Sri Lanka’s Watawala Plantations, which manufactures and sells branded teas, has decided to set up a fully owned subsidiary to sell its locally branded products, a stock exchange filing said. The new unit, named Watawala Marketing, will handle the firm’s fast moving consumer goods from April 1. The firm, a […]
Sri Lanka in bid to lure cruise ship calls
Mar 26, 2010 (LBO) – Once a lucrative foreign exchange provider to Sri Lanka, cruise tourism is seen as bringing back more well-heeled tourists to the island, just as it did before the ethnic war. Sri Lanka is expecting an estimated 21,000 cruise passengers this year with 30 liners having confirm calls, travel trade officials […]