Author: lbostgadmin
Pakistan marks one year since Sri Lanka attacks
LAHORE, March 3, 2010 (AFP) – Pakistan on Wednesday marked the first anniversary of a deadly attack on the Sri Lankan cricket team, striving to revive the game in the cricket-mad nation and forge a path out of isolation. Seven Sri Lankan players and their assistant coach were injured and eight Pakistanis killed when attackers […]
Sri Lanka to buy six transport aircraft from China: report
Mar 04, 2010 (LBO) – Sri Lanka is buying six Xian MA60 turboprop powered aircraft for a state-run airline and air force, from China, a media report said. The aircraft are being sold by China National Aero-Technology Import and Export Corporation (CATIC) finance by a government loan, Flight Global an aviation news portal said quoting […]
Bangladesh police arrest Facebook share tipster
DHAKA, March 4, 2010 (AFP) – A Dhaka-based Facebook stocks tipster with over 10,000 followers has been arrested on charges of illegally manipulating Bangladesh’s overheated stock exchange, police said Thursday. Mahbub Sarwar, 26, a prolific blogger who provided online stock tips through the popular social networking site, will be charged with market manipulation, Mohammad Sohel, […]
Water Supply
Mar 04, 2010 (LBO) – Two water supply purification plants supplying Sri Lanka’s capital Colombo will be upgraded with finance from Hungary, minister Gamini Lakshman Peiris said. A proposal to rehabilitate purification plants of the Labugama and Kalatuwawe reservoirs of Sri Lanka’s state-run National Water Supply and Drainage board has been approved by the cabinet […]
Sri Lanka tea prices recover as crops fall
Mar 04, 2010 (LBO) – Prices of Sri Lankan teas grown at higher elevations mainly by regional plantations companies recovered at this week’s Colombo auctions as quality improved and crops began to fall, brokers said. Auction average prices have stayed at record highs in the past two months, they said. “The dearer trend in prices […]
Senior Interest
Feb 04, 2010 (LBO) – A scheme to pay ‘bonus interest’ of one fifth above prevailing interest rates to senior citizens from January 01 would cost the people about 1. 2 billion rupees a year, a government minister said. The cabinet of minister had approved a proposal on Wednesday to pay extra interest for deposits […]
Home Loan
Mar 04, 2010 (LBO) – Pan Asia Banking Corporation (PABC) is looking to diversify its loan book by wooing customers to take its ‘Express Nivasa’ housing loan scheme that gives quick loan approvals to future home owners. “The housing sector went through some trouble last year,” A G Weerasinghe, chairman at PABC said. “Houses that […]
Sri Lankan stocks end up, Asian Alliance stake sold
March 04, 2010 (LBO) – Sri Lankan stocks closed up Thursday and passed the 3,800 points mark as investors bought midcap and selected high value shares, while a big stake in Asian Alliance Insurance changed hands, brokers said. John Keells Holdings closed at 168.00 rupees, down 75 cents, and Distilleries Company of Sri Lanka closed […]
China leads Sri Lanka foreign lenders in 2009: fiscal report
Mar 03, 2010 (LBO) – China became the top donor to commit aid to Sri Lanka in 2009 lining up more than half the total with 1. 2 billion US dollars, though Japan was still slightly ahead in actual disbursements, a finance ministry report said. A pre-election fiscal report issued this week ahead of parliamentary […]
Sri Lanka Janashakthi Insurance gets selective to protect margins: official
Mar 03, 2010 (LBO) – Sri Lanka’s Janashakthi Insurance wants to walk-away from unprofitable clients to protect fast-eroding profit margins and reduce underwriting costs, while looking to expand in the former northern war zone, a senior official said. “If you have the right management information system you can pick and chose clients and that is […]
‘s Ashok Leyland in small car talks: report
NEW DELHI, March 3, 2010 (AFP) – Japanese auto maker Nissan is in talks with India’s Ashok Leyland to develop a small car for the fast-growing Indian market, a report said Wednesday. The Business Standard newspaper quoted Nissan chief executive Carlos Ghosn as saying the group was looking for a new low-cost alliance in India […]
Indian telecoms tycoon spooks investors with Africa move
NEW DELHI, March 3, 2010 (AFP) – Indian telecoms tycoon Sunil Bharti Mittal may be known for his Midas touch, but investors are questioning if his multi-billion-dollar bid to gain a foothold in Africa is a step too far. Mittal, chairman of Bharti Airtel, has seen shares of India’s biggest mobile firm tumble since he […]