Author: lbostgadmin
Sri Lanka may get US$700mn FDI in 2009: official
Oct 16, 2009 (LBO) – Sri Lanka is in line to receive 600 to 700 million US dollars in foreign direct investment in 2009 and fresh applications are pouring in after the end of a 30-year civil war, officials said. “We have had discussions with the World Bank officials to see how we can score […]
Sri Lanka refugee hunger strike fails to sway Australian PM
SYDNEY, October 16, 2009 (AFP) – Australian Prime Minister Kevin Rudd on Friday refused to be swayed by hundreds of Sri Lankan asylum-seekers who launched a hunger strike after their wooden boat was stopped in Indonesia.Rudd said the 255 people, who are refusing to leave their boat and earlier threatened to set it on fire, […]
Sri Lanka fines US embassy for illegal water supply: official
October 16, 2009 (AFP) – Sri Lanka’s main water utility said Friday it had fined the US embassy in Colombo more than 3,000 dollars for illegally tapping supplies from the national network.The National Water Supply and Drainage Board said it found that the supply to US ambassador Patricia Butenis’ official residence in Colombo bypassed the […]
Sri Lanka wind power probe to finish soon: official
Oct 16, 2009 (LBO) – A probe on Sri Lanka’s proposed wind power projects would be completed soon, an official said, which could resolve deadlock in the industry that has becalmed the fledgling projects in the pipeline.Developers who set up plants below 10 MWs of capacity get a standardized power purchase agreement from CEB running […]
Sri Lanka Asian Alliance Insurance BB+ rating confirmed
Oct 16, 2009 (LBO) – RAM Ratings Lanka said it has confirmed Asian Alliance Insurance’s (AAI) claims paying ability rating of BB+ with a stable outlook. “The rating is supported by the company’s life-insurance franchise and its conservative investment strategy,” the rating agency said in a statement. “However, the rating continues to be pressured by […]
Obama signs huge Pakistan aid package into law
WASHINGTON, October 16, 2009 (AFP) – President Barack Obama signed a 7.5 billion dollar aid package for Pakistan into law Thursday, as the key US anti-terror ally reeled from a new wave of militant attacks which killed 40 people. The requirements sparked uproar in the Pakistani parliament, and were used by opponents of the government’s […]
Tele Sale
Oct 16, 2009 (LBO) – Millicom International Cellular will sell its Sri Lanka unit for 155 million US dollars to Etisalat, a Middle Eastern telco, with the sale expected to be completed by October 20, the company said.Millicom has decided to exit its Asian operations in Cambodia and Laos as well as Sri Lanka to […]
Stand-off
MERAK, October 16, 2009 (AFP) – Two asylum-seekers were hospitalised Friday from a boatload of 255 Sri Lankans who have declared a hunger strike in Indonesia to demand UN refugee status, an official said.Indonesian immigration and navy officials were trying to negotiate with the migrants who were intercepted off the Indonesian coast on Sunday as […]
Securities Charge
Oct 16, 2009 (LBO) – Galleon group chief Raj Rajaratnam, a top equity markets investor in Sri Lanka, and five others have been charged in a 20 million US dollar insider dealing case in the United States. The complaint alleged that profits were made on trading in Google, Polycom, People Suppport, Clearwire and Advanced Micro […]
Sri Lanka high grown tea prices rise
Oct 16, 2009 (LBO) – Prices of Sri Lanka’s high grown teas rose at this week’s Colombo auctions with brokers saying the market is likely to remain buoyed by a continuing global shortage. Some teas grown on the estates of regional plantations companies fetched record prices but many teas from the low grown regions fell, […]
Sri Lankan shares close flat, foreign inflows top Rs1.0bn
Oct 17, 2009 (LBO) – Sri Lankan share closed down Friday as the market was taking a slow technical correction, while net foreign inflows had topped one billion rupees, brokers said. The All Share Price Index closed down 0.10 percent (3.22 points) to end at 3,131.91, while the Milanka Index of more liquid stocks gained […]
Sri Lanka raises US$500mn for 7.4-pct
Oct 16, 2009 (LBO) – Sri Lanka has raised 500 million US dollars through a 5-year sovereign bond at a coupon interest rate of 7.4 percent, lower than an offering made two years ago, a media report said. There has been strong interest for the Sri Lanka bond running into billions of dollars, an international […]