Author: lbostgadmin
No link between global warming and melting glaciers: India
NEW DELHI, November 10, 2009 (AFP) – India’s environment minister said there was no scientific proof to support the idea that the melting of Himalayan glaciers was being caused by global warming, reports said Tuesday.“There is no conclusive scientific evidence to link global warming and Himalayan glaciers,” business daily Live Mint quoted Environment Minister Jairam […]
New Window
Nov 10, 2009 (LBO) – Microsoft launched its latest operating system (OS), Windows 7, in Sri Lanka promising easier use with more functions. “The new OS provides users with an experience that is above and beyond anything they have used before,” Ken Wye Saw, Vice-President, Microsoft Asia Pacific said at the launch. “The product is […]
Sri Lanka agri-business call for easier land access
Nov 10, 2009 (LBO) – A top Sri Lankan farming firm has called for easier access to land for commercial agriculture in the quest to transform subsistence farmers into viable agri-businesses. Samantha Ranatunga, chief executive of the listed Chemical Industries (Colombo), said improvements in the legal, regulatory and policy environment were needed to promote private […]
Sri Lanka agri-firm eyes north-east investments
Nov 10, 2009 (LBO) – Coco Lanka, a Sri Lankan agri-business firm, said it is eyeing investment opportunities in the former northern and eastern war zones. The company said in a stock exchange filing that group net profit in the September 2009 quarter rose six percent to 66.5 million rupees from a year ago while […]
Sri Lanka hotels score at World Travel Awards
Nov 10, 2009 (LBO) – A top Sri Lankan hotel group and several hotels won recognition at the World Travel Awards 2009 in London based on votes by travel agents worldwide. The Taj Samudra Colombo was named Sri Lanka’s leading hotel and another group hotel, Taj Exotica in southern Bentota was named Sri Lanka’s leading […]
Sri Lanka tourist arrivals up 7.0-pct in Oct
Nov 10, 2009 (LBO) – Sri Lanka’s October tourist arrivals grew 7.0 percent to 37,575 from a year earlier, but were slightly lower than the September figure of 37,983, data from the tourist promotion office showed. Meanwhile the state has also mandated minimum prices for Colombo’s five star rated hotels, and at least one hotel […]
Bank Number
Nov 10, 2009 (LBO) – Sri Lanka’s Hatton National Bank (HNB) said September quarter group profit rose 17 percent to 945 million rupees with interest margins improving slightly although asset quality deteriorated.HNB’s group gross income for the quarter grew by six percent to 10.3 billion rupees, with deposits increasing while lending fell, according to a […]
Bank Numbers
Nov 10, 2009 (LBO) – Sri Lanka’s Pan Asia Banking Corporation (PABC) said September quarter profits rose 49 percent to 69 million rupees on income from trading government securities, despite higher bad loans and a shrinking loan book. Group interest income rose 9.0 percent to 788 million rupees, while interest expenses were flat at 450 […]
Sri Lankan stocks slide on forced selling
Nov 10, 2009 (LBO) – Sri Lankan shares closed down Tuesday mainly on forced selling by retail investors trying to meet settlement commitments and minimize losses in margin trading on borrowed funds, brokers said. Political uncertainties generated by talk of elections and continued media coverage of alleged insider dealing by US hedge fund manager Raj […]
Sri Lanka rupee opens stronger
Nov 10, 2009 (LBO) – Sri Lanka’s rupee traded stronger against the US dollar moving up to 114.45/50, with a state bank that usually acts for the monetary authority signaling the new rate, dealers said. The rupee moved up to 114.65 against the US dollar from its long-standing peg at 114.80 levels on Monday. Central […]
Sri Lanka to keep lid on defence spending in 2010
Nov 09, 2009 (LBO) – Sri Lanka is planning to keep defence spending for 2010 at 2009 levels in rupee terms, and divert money spent on military activities to reconstruction, the government had told the International Monetary Fund. In a revised program document given to the IMF following the approval of a 329.4 million US […]
Sri Lanka needs stable foreign reserves: IMF
Nov 09, 2009 (LBO) – Sri Lanka needs stable foreign reserves collected from current account transactions as ‘borrowed reserves’ flowing into Treasuries markets can flow out quickly, an International Monetary Fund official said.“Money has rolled right in and reserves are at a comfortable position,” IMF resident representative Koshi Mathai said. “There is a difference between […]