Author: lbostgadmin
Sri Lankan general returns without war crimes grilling
November 5, 2009 (AFP) – Sri Lanka’s top military officer returned home Thursday after he was allowed to complete a US visit without being questioned over alleged war crimes against Tamil civilians.General Sarath Fonseka arrived at Bandaranaike International Airport and was immediately driven away under tight security, an airport official said. “He arrived this morning […]
Sri Lanka John Keells agents for Air Mauritius
Nov 05, 2009 (LBO) – Mack Air (Pvt) Ltd, a unit of listed John Keells Holdings (JKH) said had been appointed the general sales agent for Air Mauritius in Sri Lanka from November 01. Romesh David who heads the transportation division of JKH said it will work with the airline to develop traffic between the […]
Sri Lanka president announces wage hike for troops
November 5, 2009 (AFP) – Sri Lanka’s president has announced an immediate salary increase for all members of the country’s armed forces amid plans to boost the strength of the security services.President Mahinda Rajapakse granted the unspecified salary increase during a visit Wednesday to the island’s northern regions, which were recently wrested from Tamil rebel […]
Protection Deal
Nov 05, 2009 (LBO) – Sri Lanka and Kuwait has signed an Investment Promotion & Protection Agreement (IPPA) Thursday between the island’s envoy to the country and a senior finance ministry official of the Gulf state, the foreign ministry said. Sri Lanka’s foreign ministry quoted the undersecretary to the Kuwaiti ministry of finance Khalifa M […]
Profit Margins
Nov 05, 2009 (LBO) – Sri Lanka’s Sampath Bank group’s net profit for the September 2009 quarter rose 35.8 percent from a year earlier, as margins improved with higher lending to government. Gross assets grew to 153.7 billion rupees (up 8.0 percent) and net assets to 10.9 billion rupees p 10.2 percent. Revenues rose 10.5 […]
Navigation Move
Nov 05, 2009 (LBO) – Colombo port has re-opened its northern entrance channel which had been closed for years owing to the threat of attacks by Tamil Tiger separatists who were defeated by government forces in May. But it had been completely closed since the airport attack. The Tamil separatists’ naval wing, the Sea Tigers, […]
Sri Lanka stocks close 1.6-pct lower
Nov 05, 2009 (LBO) – Sri Lanka’s stocks closed 1.65 percent lower Thursday, falling for the third straight day in a continuing correction, despite banks reporting strong earnings in the September quarter season, brokers said. Despite heading for polls in the first quarter of 2010, the government opted to have a ‘vote on account’ instead […]
Sri Lanka central bank to relax exchange controls
Nov 05, 2009 (LBO) – Sri Lanka’s central bank is planning to relax exchange controls allowing up to 500,000 US dollars to be taken out for investment purposes without approval of the central bank, a media report said. Before the creation of the Central Bank in 1950, Sri Lanka had a currency board with an […]
Sri Lanka fiscal discipline key to economic growth: report
Nov 04, 2009 (LBO) – Fiscal discipline by Sri Lanka’s government will be critical to ensure economic recovery and sustained, high growth anticipated with the end of the ethnic war, RAM Ratings agency said. “Sri Lanka is now well poised to achieve high sustainable growth, as the end of the armed conflict provides the government […]
Fed Printing
NEW YORK, November 3, 2009 (AFP) – Oil prices leapt Tuesday as commodities gained a boost from gold, which struck an all-time high above 1,000 dollars an ounce as markets fret about the prospects of global recovery from recession.New York’s main contract, light sweet crude for delivery in December, rose 1.47 dollars to close at […]
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 […]