Author: lbostgadmin
Managed Finance
Dec 16, 2009 (LBO) – Sri Lanka’s Central Bank said it has appointed People’s Leasing Company as managing agent of Industrial Finance Limited, a company facing liquidity shortages, with immediate effect. The Central Bank said in a statement all directors of Industrial Finance, which is currently under its supervision, will continue to serve as members […]
Liquidity Support
Dec 16, 2009 (LBO) – Sri Lanka’s central bank said it will guarantee loans given by banks to registered leasing and finance companies in liquidity trouble, though the assistance would be conditional. The Central Bank quickly moved to act on the finance companies and also took action against directors of the Ceylinco firm. In providing […]
Sri Lankan shares close up 0.41–pct on large JKH deal
Dec 16, 2009 (LBO) – Sri Lankan shares closed up Wednesday, propelled by a foreign of-the-floor deal on John Keells Holdings (JKH) and banking counters headed by a large deal on blue chip Commercial Bank, brokers said. The All Share Price Index closed at 3,089.45 up 0.41 percent (12.49 points) while the Milanka Price Index […]
Sri Lankan bill yields move up
Dec 16, 2009 (LBO) – Sri Lankan Treasury bill yields edged up across maturities, at Wednesday’s auction, the government’s debt office said, despite only a part of the bids being accepted. The 3-month yield rose 09 basis points to 7.60 percent, the 6-month yield rose 09 basis points to 8.59 percent and the 12-month yield […]
Sri Lanka women key beneficiaries of rural road project: ADB
Dec 15, 2009 (LBO) – The Asian Development Bank said it has approved a project to build roads linking isolated rural villages in Sri Lanka that will employ poor villagers, especially women. “At least 50 percent of the workers will be women, with opportunities extended to war widows and female heads of households.” The two […]
Sri Lanka forum to help politicians help people
Dec 15, 2009 (LBO) – A public seminar is to be held to educate politicians and their economic advisors on how best to meet the needs of people, ahead of scheduled elections in January. The seminar – ‘Unleashing the people’s potential: what should be done?’- will present the findings of a study and policy recommendations […]
Fuel Market
Dec 15, 2009 (LBO) – A planned ship fuel business off a new port being built in southern Sri Lanka, will target small vessels sailing past the island and lure them with break-even prices, officials said.Sri Lanka Ports Authority (SLPA) intends to start sales of bunkers in the first quarter of next year off Hambantota, […]
Sri Lanka post-war recovery hit by graft, violence: watchdog
December 15, 2009 (AFP) – Sri Lanka’s recovery from its decades-long civil war has been marred by graft, violence and a culture of lawlessness, a global watchdog said Tuesday.Transparency International rapped the government — which crushed the Tamil Tiger separatist rebels in May — for a lack of democracy, accountability and transparency. “The latter half […]
India stop Sri Lanka in high-scoring thriller
RAJKOT, December 15, 2009 (AFP) – India overcame a brilliant century by Tillakaratne Dilshan to defeat Sri Lanka by three runs in a dramatic start to the five-match one-day series on Tuesday. Dilshan made 160 off 124 balls as the tourists made a spirited effort to surpass India’s highest one-day total of 414-7, before falling […]
‘s green fightback
KAVRE, December 15, 2009 (AFP) – Thirty years ago, Nepalese farmer Badri Prasad Jangam realised that the once thickly-wooded hillside that overlooks his home had been transformed into a barren slope.Decades of deforestation had taken their toll, stripping away the topsoil, affecting vital underground water sources and threatening to bring disaster to a community entirely […]
Capital Question
Dec 15, 2009 (LBO) – Capital investment in Sri Lanka’s telecom infrastructure has plummeted amidst a price war and high taxation, which will crimp expansion in the future and broadband roll out in the island, top telecom operators said.“Before the price war each operator was spending about 150 to 200 million (US dollars) a year […]
Sri Lankan stocks close 1.22-pct up on large JKH sale
Dec 15, 2009 (LBO) – Sri Lankan shares closed up Tuesday as big off-the-floor deals on blue chip John Keells Holdings (JKH) and Aitken Spence Hotel Holdings pushed indices up, brokers said. Amaya Leisure closed at 52.00 rupees, up 1.25, Asian Hotels and Properties closed at 84.50 rupees, up 75 cents, John Keells Hotels closed […]