Author: lbostgadmin
Sri Lanka HNB Assurance Sept profit down 09-pct
Nov 04, 2009 (LBO) – Sri Lanka’s HNB Assurance said net profit for the September quarter fell nine percent to 21.4 million rupees from a year ago, despite a sharp rise in investment income. Gross written premium rose 24 percent to 640 million rupees according to interim results announced by the firm to the Colombo […]
Sri Lanka military chief skips US war crimes quiz: MP
November 4, 2009 (AFP) – Sri Lanka’s military commander left the United States ahead of possible questioning over alleged war crimes committed during the defeat of the island’s Tamil rebels, a legislator said Wednesday.General Sarath Fonseka headed back to Sri Lanka without facing questioning by the Department of Homeland Security later in the day, Samantha […]
Ship Link
VANCOUVER, November 3, 2009 (AFP) – Several of a group of 76 Sri Lankan asylum seekers picked up off the Canadian coast last month have ties to the Tamil Tiger rebels and could pose a security risk, officials said Tuesday.The Canadian government told an immigration hearing that the “Ocean Lady” freighter used to transport the […]
Protest
Nov 04, 2009 (LBO) – A group of graduates were water cannoned at tear gassed by police when they tried to march up to office of Sri Lanka’s president Mahinda Rajapaksa Wednesday as part of a protest demanding state jobs.Sri Lanka’s graduates educated at tax payer expense free in state universities have spread a successful […]
Sri Lanka wage hike sends listed estate into the red
Nov 04, 2009 (LBO) – Sri lanka’s Kelani Valley Plantations (KVPL) said a wage hike wrested by estate labour unions has sent it into the red in the September 2009 quarter. The company, which has been recovering from a severe drought earlier in the year, said that it made a loss of 217 million rupees […]
Higher Margins
Nov 04, 2009 (LBO) – Sri Lanka’s DFCC Bank has reported group net profits up 73 percent to 823 million rupees for the September 2009 quarter, from a year earlier as higher incomes from government securities boosted margins.Total group revenues rose 9.5 percent to 3.6 billion rupees, interim accounts filed with the Colombo Stock Exchange […]
Sea Perils
SYDNEY, November 4, 2009 (AFP) – Australia called off an air and sea search for survivors on Wednesday after a boat carrying unidentified Sri Lankans sank in remote seas far off its northwest, killing 12.Home Minister Brendan O’Connor said there was no hope of finding anyone else alive after the boat carrying 39 went down […]
Sri Lanka stocks slump further
Nov 04, 2009 (LBO) – Sri Lankan share prices slumped again almost across the board Wednesday as nervous investors sold apparently in anticipation of further falls, brokers and analysts said.The All Share Price Index closed at 2,902.70, down 2.07 percent, or 61.49 points while the Milanka Price Index of more liquid stocks closed at 3,242.06, […]
Sri Lanka Treasuries yields fall
Nov 04, 2009 (LBO) – Sri Lanka’s Treasury bill yields fell across the board with the 3-month yield falling 36 basis points to 8.14 percent, at Wednesday’s auction just above the 8.00 repo rate at which the monetary authority drains liquidity from markets. The Central Bank’s reverse repo rate at which cash in injected to […]
Sri Lanka tables interim budget
Nov 03, 2009 (LBO) – Sri Lanka has presented an interim plan to parliament ahead of polls expected in the first quarter of 2010 seeking permission from lawmakers to spend up to a third of last year’s budget.Government spending has been reined in somewhat under a deal agreed with the International Monetary Fund with strict […]
Sri Lanka should import proven leadership talent: business executive
Nov 03, 2009 (LBO) – Sri Lanka should consider importing people with proven track records to run government as native leaders have consistently failed to deliver and develop the country after independence from Britain, a senior private sector executive has said. “When a company fails and has continuous losses, what do you do? The management […]
‘s opposition unites to face snap polls
November 3, 2009 (AFP) – Sri Lanka’s main opposition on Tuesday formed an alliance with minority Tamil and Muslim parties and a breakaway faction of the ruling coalition to contest possible snap elections.The next presidential poll, which was due by November 2011, will now be held before April 2010, according to the government. Opposition leader […]