Author: lbostgadmin
Sri Lankan shares close 0.94-pct up
Jan 13, 2010 (LBO) – Sri Lankan stocks closed up 0. 9 percent Wednesday reversing two days of losses and heavy buying in diversified Distilleries and another firm which has made a cash call helping turnover top 2.0 billion rupees, brokers said. The All Share Price Index closed at 3,536.71, up 1.20 percent (42.09 points) […]
‘s war-torn areas to get more funds: World Bank
Jan 12, 2010, (LBO) – Sri Lanka’s war torn areas would get more World Bank funds this year as the region recovers from a 30-year war, with a little over 250 million US dollars already approved, country director Naoko Ishii said. “We have another four programs which will go for board approval when negotiations are […]
Sri Lanka opposition says politicians could be taxed
Jan 12, 2010 (LBO) – Sri Lanka’s opposition says the issue of politicians being taxed could be looked at early in a future new administration if common candidate ex-general Sarath Fonseka becomes president. Fonseka who is backed by both the United National Party and Marxists Janatha Vimukthi Peramuna has promised the 10,000 rupee salary hike […]
‘s speech to the business community
Jan 12, 2010 (LBO) – Sri Lanka’s common opposition candidate for upcoming presidential polls, retired general Sarath Fonseka met the business community Tuesday. The following is the prepared text of his speech. The nation’s wealth is being squandered on self- perpetuating projects that are both wasteful and meaningless. Billions have been lost due to corruption, […]
‘s miracle
Jan 12, 2010 (LBO) – Sri Lanka’s president Mahinda Rajapaksa said he wanted to make Sri Lanka ‘Asia’s miracle’ if elected to a second term and also vowed to combat corruption, a key battle cry of the island’s opposition. “We want to change people leaving the country and make it an attraction for people,” Rajapaksa […]
Sri Lanka president offers pre-vote concessions to Tamils
January 12, 2010 (AFP) – Sri Lanka’s president on Tuesday offered concessions to ethnic Tamil demands for greater autonomy ahead of elections in which the minority community could play a decisive role. But as the architect of the military victory, Fonseka can also lay claim to credit for ending the conflict. Fonseka has offered to […]
‘s Bharti acquires control of Bangladesh telecom firm
MUMBAI, January 12, 2010 (AFP) – India’s biggest mobile phone firm Bharti Airtel on Tuesday announced it will acquire a 70 percent stake in Bangladesh-based Warid Telecom, signalling the company’s strong global ambitions. The move into Bangladesh by Bharti comes after its plan to ally with South Africa’s MTN to create an emerging market telecom […]
Sri Lankan stocks close 0.7-pct lower
Jan 12, 2010 (LBO) – Sri Lanka stocks closed down Tuesday as index heavy banking sector pulled the market down, while trading in conglomerate John Keells Holdings (JKH) boosted turnover, brokers said. National Development Bank closed at 204.25 rupees, 3.00 down, and DFCC bank closed at 168. 00 rupees, down 1.75. The All Share Price […]
Sri Lankan finance firm sells money broking unit
Jan 12, 2010 (LBO) – Sri Lanka listed Nation Lanka Finance Limited said it had sold its money broking unit, CSF Money Brokering Company, to unlisted Navara Capital for 9.24 million rupees. Nation Lanka Finance had sold 85.71 percent of the money broker, the firm said in a stock exchange filing. The statement said Navara […]
Sri Lanka treasuries yields edge up
Jan 12, 2010 (LBO) – Sri Lanka’s Treasury bill yields edged up across maturities at Wednesday’s auction, the government’s debt office said. The 3-month yield was up 07 basis points to 7.84 percent, the 6-month yield was up 05 basis points to 8. 82 percent and the 12-month yield was up 03 basis points to […]
Sri Lanka president promises state worker salary hike
Jan 11, 2009 (LBO) – Sri Lanka’s president Mahinda Rajapaksa has promised a 2,500 rupee a month salary hike to state workers, from the next budget due in April, the government’s information office said. In Sri Lanka people outside the state have to bear most of the burden of handouts Sri Lanka’s people have to […]
Battle-scarred Tamils emerge as Sri Lankan kingmakers
January 11, 2010 (AFP) – For decades, Sri Lanka’s Tamil Tiger rebels fought for an independent ethnic homeland. In May they were defeated, but observers say Tamil voters could now be key to who becomes the next president. The two main candidates — incumbent Mahinda Rajapakse and former army chief Sarath Fonseka — both claim […]