Author: lbostgadmin
Sri Lanka central bank domestic assets fall
Aug 25, 2009 (LBO) – Treasury bills, a key domestic asset component at Sri Lanka’s central bank, plummeted following an unusual deal with a US fund manager which effectively swapped them for hard currency. According to official data released Monday the Central Bank’s Treasury bills stock which represented money printed for the government during a […]
Sri Lanka firms told socially responsible investing does pay
Aug 25, 2009 (LBO) – Companies should look closely at socially responsible business practices as they are more profitable and opens the door to alternative investments, a senior official from the Securities Exchange Commission (SEC) said. “Socially responsible investment advocates argue that screening helps eliminate companies that have risks that are generally not recognized by […]
Sri Lanka calls for more Tests in T20 era
August 24, 2009 (AFP) – Sri Lanka’s top stars, including the world’s leading bowler Muttiah Muralitharan, want more Test matches to be played despite the growing popularity of Twenty20 cricket.The off-spinner, who has more Test (777) and one-day (511) wickets than any other bowler and will quit the five-day game at the end of 2010, […]
Sri Lanka Hemas to list power company
Aug 24, 209 (LBO) – Sri Lanka’s Hemas Holdings group said the Colombo stock exchange has approved its application to list a power subsidiary, Hemas Power, on the bourse’s main board. Hemas owns half of the Heladhanavi 100 mega watt thermal power plant and a two mega watt mini-hydro power plant in Kandy in the […]
Minister says Air India needs bailout: report
NEW DELHI, August 24, 2009 (AFP) – Air India needs a bailout of nearly 620 million dollars to keep flying, a minister said in remarks published Monday, in which he added he was certain the loss-making airline would survive. “I want this reduced for both low-cost and full-service carriers,” he said.“I have always advocated a […]
Sri Lanka Aitken Spence, Six Senses revive spa project
Aug 24, 2009 (LBO) – Aitken Spence, one of Sri Lanka’s top hotel firms, has resumed talks with Six Senses Spas, an international spa chain, on building an up-market resort on the south-west coast, a senior official said.“Next to Heritance Ahungalla we have 10 acres and 27 acres on an island in Madhu Ganga, very […]
Strong Numbers
Aug 24, 2009 (LBO) – Profits at Sri Lanka’s state-run Bank of Ceylon group grew 82. 1 percent to 1,832 million rupees from a year earlier, on strong net interest growth and forex income, despite higher loan losses, interim June 2009 quarter accounts showed. Deposits grew 13.7 percent to 361.2 billion rupees from the beginning […]
Overlooking
Aug 24, 2009 (LBO) – Following the resignation of PABC chief executive Kimarli Fernando, deputy general manager has been appointed acting chief executive “with immediate effect,” the bank said in a stock exchange filing.Fernando had resigned with the effect from November 23, 2009, the statement said. Fernando joined PABC from the Colombo branch of Standard […]
Sri Lankan stocks up 0.30-pct
Aug 24, 2009 (LBO) – Sri Lankan shares closed up Monday as institutional and high-net-worth investors traded the blue chip John Keells Holdings (JKH) which boosted turnover, while there was much retail interest on Lanka Cement, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.30 percent (7.54 points) to end at […]
Sri Lanka eyes peace dividend after crushing Tigers
August 23, 2009 (AFP) – Conflict-torn Sri Lanka is banking on foreign cash to rebuild shattered infrastructure as the island emerges from decades of ethnic civil war, officials say.Analysts are expecting a large investment peace dividend in the country where bomb attacks and fighting dented investor confidence and kept high-spending tourists away from the tropical […]
‘s weary war refugees face monsoon misery
August 23, 2009 (AFP) – Tamil civilians who lived through the vicious final battle of Sri Lanka’s separatist war are now locked in another struggle for survival with heavy rains bringing misery to the camps they call home.Nearly 300,000 people displaced by the fighting between government troops and Tamil Tiger rebels are held in what […]
Sri Lanka offers Pakistan exclusive industrial zone: report
Aug 23, 2009 (LBO) – Sri Lanka has offered an industrial zone exclusively for Pakistan in a bid to promote inward investment from South Asian and Middle East regions, a media report said. Sayeed was quoted as saying that he will promote Pakistani firms to set up joint ventures in Sri Lanka and promote trade […]