Author: lbostgadmin
Better Showing
Oct 26, 2009 (LBO) – Sri Lanka’s listed Seylan Bank group has reported profits of 397.7 million rupees, up 292 percent from a year earlier, while its loan book continued to shrink and some provisions were reversed. Group interest income fell 10.9 percent to 5.9 billion rupees, while interest expense fell 17.1 percent to 5.2 […]
Sri Lankan stocks fall 1.0-pct
Oct 26, 2009 (LBO) – Sri Lankan stocks closed down 1.0 percent Monday as buyers stayed in the sidelines, awaiting September quarter earnings season which has just begun, brokers said. The All Share Price Index closed down 1.07 percent (32.60 points) to end at 3,024.02, while the Milanka Index of more liquid stocks lost 1.01 […]
Euro hits 14-month high vs dollar
TOKYO, October 26, 2009 (AFP) – The euro hit a 14-month high against the dollar in Asian trade Monday on signs that China may increase its holdings of the European currency, dealers said. The euro rose to 1.5061 dollars in Tokyo midday trade, its highest level since August 11, 2008 and up from 1.5027 in […]
Sri Lanka doctors, accountants lead brain drain
Oct 25, 2009 (LBO) – Doctors and accountants top the outflow of skilled professionals from Sri Lanka, seeking better opportunities in developed countries, a study on migration has said.But government forces defeated the Tamil Tiger separatists in May, ending the 30-year conflict, and raising hopes of an economic revival. The government has said it is […]
Volatile Labour
Oct 25, 2009 (LBO) – Workers at Sri Lanka’s state-owned oil refiner said they plan to resume normal work Monday, ending a four-day work-to-rule action that created fuel shortages.Ceylon Petroleum Corporation (CPC) labour unions launched the action Thursday to back demands for a pay hike. Their action disrupted fuel supplies, resulting in long queues outside […]
India says will start 3G auction in January
NEW DELHI, October 24, 2009 (AFP) – India said Saturday a long-delayed auction of radio bandwidth for third generation (3G) telecommunications services will start in January and will be open to foreign companies.The Central Bureau of Investigation alleged in a statement “a criminal conspiracy between certain officials” of the ministry and “private persons/companies and others […]
Indian car maker Maruti sees quarterly profit jump 93 pct
NEW DELHI, October 24, 2009 (AFP) – India’s largest car maker Maruti Suzuki reported Saturday that its quarterly net profit had soared 93 percent year-on-year, amid signs pointing to a reviving domestic economy. Maruti, majority owned by Japan’s Suzuki Motor Corp, reported net profit of 5.7 billion rupees (123 million dollars) in the second financial […]
Sri Lanka political stability seen key to foreign investment
Oct 24, 2009 (LBO) – Post-war Sri Lanka’s ability to attract foreign investments would depend on how the island resolves minority Tamil grievances, eliminates residual security threats and improves its finances, a World Bank report said. “The end of armed conflict provides Sri Lanka with a historic opportunity to achieve a dual transition from a […]
‘s telecom minister denies corruption after raid
NEW DELHI, October 23, 2009 (AFP) – India’s telecom minister Friday denied any corruption in the awarding of new licences to telecom companies in the country last year after a raid by federal police on his ministry.India’s federal criminal investigation agency raided the Department of Telecommunications (DoT) on Thursday on suspicion that mobile phone network […]
Indians go on gold-buying blitz: industry body
MUMBAI, October 23, 2009 (AFP) – Indians spent nearly 2.0 billion dollars buying gold last week during Hindu festivities, an increase compared with 2008 despite record prices, the World Gold Council said on Friday. The World Gold Council (WGC) said gold sales rose 5.7 percent to 56 tonnes from a year earlier in the week […]
” with EU-style bloc
HUA HIN, October 24, 2009 (AFP) – Asian leaders discussed plans at a summit Saturday to “lead the world” by forming an EU-style community, as regional giants China and India tried to cool a simmering border spat.Japanese Prime Minister Yukio Hatoyama pressed his regional counterparts to move towards the creation of an East Asian bloc […]
Obituary
Oct 24, 2009 (LBO) – Uthum Herat, the deputy governor of Sri Lanka’s central bank, a deeply respected and much-loved official who has served the country for 27 years had passed away, the Central Bank said.Herat, 51 had passed away on October 23, at a private hospital in Colombo. The full Central Bank statement is […]