Author: lbostgadmin
Sri Lanka promotes investment with Thailand after war
Aug 30, 2009 (LBO) – Sri Lanka is promoting new joint ventures with Thailand after the end of a 30-year war in the island, organizers of an investment conference in Colombo that is opening Monday said. More than a 100 top Sri Lankan enterprises from private and public sectors will participate in the conference, Wickramanayaka […]
Sri Lanka whitewash Kiwis despite Vettori ton
August 30, 2009 (AFP) – Sri Lanka clinched second spot behind South Africa in the official rankings as they swept aside New Zealand by 96 runs in the final Test on Sunday to sweep the series 2-0.Left-arm spinner Rangana Herath claimed five wickets as the Kiwis, set an improbable victory target of 494 runs, were […]
”
LUKLA, August 30, 2009 (AFP) – Over two decades, Funuru Sherpa has watched the lake above his native village of Dengboche in Nepal’s Himalayas grow, as the glacier that feeds it melts. The 29-year-old, who runs a busy Internet cafe for tourists visiting the Everest region, remembers his grandfather telling him that 50 years ago […]
Bangladeshi migrants pay high costs: World Bank
DHAKA, August 30, 2009 (AFP) – Bangladeshi migrant workers spend an average of 2,300 US dollars securing employment abroad — the equivalent of more than 18 months’ work in their new job, the World Bank said in a report. The World Bank survey calculated they send home on average 1,480 dollars a year and that […]
Sri Lanka set Kiwis 494 to win final Test
August 29, 2009 (AFP) – New Zealand were set a target of 494 runs to win the final Test after Sri Lanka declared their second innings at 311-5 in the post-lunch session on the fourth day on Saturday.The declaration came as soon as Mahela Jayawardene was dismissed for 96. Sri Lanka are looking for a […]
Probe Call
GENEVA, August 28, 2009 (AFP) – A United Nations expert on Friday urged the Sri Lankan government to set up an independent probe into the authencity of a video clip aired in Britain allegedly showing Sri Lankan troops executing prisoners. Philip Alston, the UN Special Rapporteur on extrajudicial, summary or arbitrary executions, said Colombo had […]
No Loans
Aug 29, 2009 (LBO) – Sri Lanka’s Citibank, which had reported around 22 billion rupees of bad loans following a defaulted derivative sold to a state-run oil distributor, has taken the number off its balance sheet in the June 2009 accounts.In March 2008, the bank reported 22.6 billion rupees classified as ‘other loans’ among non-performing […]
Naval Outlook
Aug 29, 2009 (LBO) – Sri Lanka is looking to protect its economic interests in the ocean with the navy playing bigger role after the end of the ethnic war to ensure terrorism does not recur, a senior defence official said. “Especially in an island nation like ours, the navy has an important role to […]
Sri Lanka columnist shortlisted for Bastiat online journalism prize
Aug 28, 2009 (LBO) – Rohan Samarajiva, who writes Lanka Business Online’s ‘Choices’ column has been shortlisted for the 2009 Bastiat Prize for online journalism along with two others who write for Britain’s Telegraph and US based Forbes. Samarajiva, who heads LirneAsia, a policy research body, has been writing LBO’s widely read ‘Choices’ column from […]
Upgrade
Aug 28, 2009 (LBO) – RAM Ratings Lanka has upgraded the long-term rating of LB Finance (LBF) by one notch to ‘BBB’ from ‘BBB-‘ with a ‘stable’ outlook and its short term ‘P3’ rating has been confirmed. LBF’s return on assets (ROA) rose to 4.49 percent by March 2009 (end-March 2008: 4.01 percent) and return […]
Sri Lankan stocks up 0.52-pct
Aug 28, 2009 (LBO) – Sri Lankan shares closed up 0.5 percent Friday with banks and hotel sector shares driving gains, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.52 percent (13.46 points) to close at 2,601.50 while the Milanka index of liquid stocks gained 1.0 percent (29.34 points) to close […]
Sri Lanka forex reserves at US$3.9bn with new IMF allocation
Aug 28, 2009 (LBO) – Sri Lanka’s gross official reserves rose to 3.9 billion US dollars after receiving the equivalent of 475 million US dollar under a new allocation International Monetary Fund reserves, the Central Bank said. Sri Lanka’s reserves have now topped a 3.5 billion dollar peak reached in September 2008. In August 07, […]