Author: lbostgadmin
Sri Lanka war, BOP crisis no longer hurt rating; budgets a problem: Fitch official
Aug 27, 2009 (LBO) – Sri Lanka’s internal conflict and a balance of payments crisis that led to a rating downgrade and a negative outlook have now been wiped off the slate, but weak state revenues and high national debt are hurting Sri Lanka’s rating, a senior Fitch official said. In April 2008, Fitch downgraded […]
Sri Lankan airlines loses Rs10bn
Aug 27, 2009 (LBO) – Sri Lankan Airlines group has lost 9.99 billion rupees in the year to March 2009, down from a profit of 4.9 billion rupees a year earlier as revenue fell amid a global downturn and falling tourism arrivals at home. Sri Lankan Airlines group also has a catering subsidiary. At stand […]
Sri Lankan army calls execution video a fabrication
August 26, 2009 (AFP) – Sri Lanka’s military on Wednesday said a disturbing video clip broadcast in Britain allegedly showing its troops executing prisoners was a fabrication designed to “discredit” its armed forces.The footage, aired by Channel 4 in Britain, was apparently shot during the final stages of the army’s defeat of Tamil Tiger separatists, […]
India summer crops may be 20 pct below normal: govt
NEW DELHI, August 27, 2009 (AFP) – India could record a 15 to 20 percent crop shortfall due to widespread drought caused by a bad monsoon, the finance minister said Thursday.Some 252 out of India’s 626 districts have been hit by drought as a result of the weak June-to-September monsoon that is running at 26 […]
Tele Rate
Aug 27, 2009 (LBO) – Standard and Poor’s has lifted the outlook of Sri Lanka Telecom’s (SLT) rating to ‘stable’ from negative, shortly after the host country’s outlook on its ‘B’ sovereign rating was lifted. “The stable outlook on SLT reflects the country risk factors,” S&P said. “Any downward movement of the sovereign ratings could […]
Larger Bench
Aug 27, 2009 (LBO) – A case where Sri Lanka’s former Treasury Secretary is seeking permission to return to public service from which he was ousted by court, will be taken up before an expanded bench, lawyers said. Gamini Amaratunga, a serving judge was a part of the bench that delivered the original judgement on […]
Sri Lankan shares up 1.37-pct
Aug 27, 2009 (LBO) – Sri Lankan shares closed up on Thursday led by hotel stocks and index-heavy John Keells Holdings which close up despite foreign selling, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 1.37 percent (35.01 points) to close at 2,588.04 while the Milanka index of liquid stocks gained […]
Sri Lanka draws Japanese investor interest
Aug 26, 2009 (LBO) – A 40-member Japanese trade and investment mission is due to visit Sri Lanka in November 2009 following the end of the island’s 30-year ethnic war, the Ceylon Chamber of Commerce said.Members of the mission during their visit will take part in the Japan – Sri Lanka Business Co-operation Committee meeting […]
Sri Lanka pro-poor effort hit by political interference: ADB
Aug 26, 2009 (LBO) – Political interference and overlapping functions of government agencies have seriously weakened Sri Lanka’s efforts to help the poor and might even perpetuate poverty, a new Asian Development Bank report says. The public sector is too big, confused and lacks accountability, the report on ‘Poverty and human development in Sri Lanka’ […]
Sri Lanka frees priests from war camps
August 26, 2009 (AFP) – Sri Lanka on Wednesday freed nearly 600 Hindu and Catholic priests who were held in internment camps with ethnic Tamils displaced by fighting between troops and separatist rebels, officials said.The clergy were allowed to leave the camps in the northern district of Vavuniya, where 300,000 inmates are detained under tight […]
‘s rare double
August 26, 2009 (AFP) – New Zealand captain Daniel Vettori became only the eighth player ever to achieve the double of 3,000 runs and 300 wickets as Sri Lanka groped for runs in the second Test on Wednesday. The left-arm spinner, who has scored 3,329 runs, claimed his 300th wicket when he had his Sri […]
Big Deal
Aug 26, 2009 (LBO) – The acquisition of a big stake in Sri Lanka Telecom, the island’s dominant fixed-line operator, by Malaysia’s Global Telecommunications Holdings NV has been nominated for a global mergers and acquisition award. The nomination has been made under the Media, Entertainment or Telecom Deal of the Year category of the awards […]