Author: lbostgadmin
Sri Lanka state revenues up in September, but may miss revised targets
Nov 16, 2009 (LBO) – Sri Lanka’s state revenues rebounded to 522.0 billion rupees in September 2009 up 12.1 percent from a year earlier, but year end targets may miss revised estimates, the Central Bank said.For the first nine months of the year fiscal deficit was 322.6 billion rupees or 6.5 percent of gross domestic […]
Counter Action
Nov 16, 2009 (LBO) – Sri Lanka has declared several state utilities ‘essential services’ the government said, as industrial unrest threatened to increase following the assault of some workers and rejection of higher salary offers.The government said petroleum, water, ports and electricity services were declared essential services from midnight Sunday. Both power and water are […]
Sri Lanka president delays election announcement
November 15, 2009 (AFP) – Sri Lankan President Mahinda Rajapakse Sunday asked his supporters for more time to announce dates for snap elections as he faced an unexpected challenge from his erstwhile military chief.General Sarath Fonseka resigned last week after accusing the government of corruption, mismanagement and failing to “win the peace” with minority Tamils […]
Sri Lanka promotes air chief after spat with army general
November 16, 2009 (AFP) – Sri Lanka’s president on Monday promoted his air force commander to be the country’s top military officer to replace General Sarath Fonseka who quit following a rift with the government, an official said.Air Chief Marshal Roshan Goonetileke, 53, was made the new Chief of Defence Staff (CDS) from Monday in […]
Strong Numbers
Nov 16, 2009 (LBO) – Sri Lanka’s NDB Bank said net profits for the September 2009 quarter was up 75-pct to 615 million rupees from a year earlier, while revenues grew 14.4 percent to 3.62 billion rupees. Interest income grew 5.3 percent to 2.89 billion rupees, interest expese fell 0.3 percent to 1.80 billion allowing […]
Tight Numbers
Nov 16, 2009 (LBO) – Sri Lanka’s state-run Bank of Ceylon group’s profit fell 63.3 percent to 256.7 million rupees in the September 2009 quarter from a year earliers, while revenues rose 2.7 percent to 15.86 billion rupees. Interest income grew 4.0 percent to 13.46 billion rupee, interest expenses grew at a faster 10.8 percent […]
Harbour Moves
Nov 16, 2009 (LBO) – Labour unions at Colombo port, Sri Lanka’s main harbour, Monday ended a ‘go-slow’ action that had caused delays to shipping lines, after striking a deal on a pay hike with the authorities. “This caused a loss of confidence in Colombo among foreign shipping lines.” He said one line was supposed […]
Sri Lankan stocks close flat; rupee up
Nov 16, 2009 (LBO) – Sri Lanka stocks closed flat Monday as investors on the back foot awaiting political developments, while the rupee strengthened against the greenback broker and dealers said.Conglomerate John Keells Holdings closed at 143.25 rupees, down 1.75, and Distilleries Company of Sri Lankan closed at 95.00 rupees, down 25 cents. Commercial Bank […]
Sri Lanka First Capital profits soar on bond gains
Nov 16, 2009 (LBO) – Sri Lanka’s First Capital Holdings said profits in the September 2009 quarter soared over ten times to 168.1 million rupees from 16.1 million on bond gains from is primary dealer unit.Sri Lanka’s bond yields have plummeted over 2009 as the Central Bank cut interest rates and foreign capital flowed into […]
Sri Lanka lures central Indian investors
Nov 15, 2009 (LBO) – Firms from the central Indian state of Madhya Pradesh have showed interest in investing in Sri Lanka and called for direct flights between the state capital Bhopal and Colombo, officials said.Sri Lanka can benefit by having daily flights between Bhopal, Colombo and Bangkok to cater to Sri Lankan as well […]
Sri Lanka refugees can stay for three months, Indonesia says
JAKARTA, November 15, 2009 (AFP) – A group of 22 Sri Lankan asylum seekers who left an Australian customs ship to come ashore in Indonesia will be allowed to stay for up to three months, an official said Sunday. The standoff has caused a political headache for Australian Prime Minister Kevin Rudd, who has been […]
Tele Status
Nov 16, 2009 (LBO) – Sri Lanka Telecom group, the island’s larges fixed access provider which also owns Mobitel a celco, said it lost 186 million rupees in the September 2009 quarter against a profit of 1,235 million rupees a year earlier.In the 9-months to September the group had spend 13.2 billion rupees in capital […]