Author: lbostgadmin
Sri Lanka insurance firm makes loss as costs rise
Aug 23, 2009 (LBO) – Sri Lanka’s Asian Alliance Insurance Company said it made a 48-million rupee loss in the first half of 2009 as higher claims and operating and re-insurance costs erased gains from investment income. Asian Alliance said in a stock exchange filling gross written premiums for the first half 2009 went up […]
Sri Lanka thrash ailing Kiwis in first Test
GALLE, August 22, 2009 (AFP) – An illness-ravaged New Zealand were bamboozled in the face of pace and spin as Sri Lanka cruised to a 202-run victory in the first Test on Saturday to lead the two-match series. The Kiwis, set an improbable target of 413 runs, collapsed to 210 all out in their second […]
Nepal, India agree trade deal as PM wraps up visit
NEW DELHI, August 22, 2009 (AFP) – India and Nepal agreed to a new trade treaty Saturday as Prime Minister Madhav Kumar Nepal ended a five-day official visit to the regional giant that both countries hailed as successful.Nepal, on his first official visit to the country since his appointment in May, earlier met his Indian […]
Mobile Cover
Aug 22, 2009 (LBO) – Mobitel, a unit of fixed access carrier Sri Lanka Telecom will spend up to 30 million US dollars expanding in to former war zones in the north and the east of the country, a top official said. The network had notched up 3.1 million subscribers, Amasekera said on August 19, […]
Sri Lanka press for win as weather holds key
GALLE, August 21, 2009 (AFP) – Bad weather appeared the main stumbling block in Sri Lanka’s bid to win the first Test after illness-hit New Zealand were boxed into a corner on Friday.The tourists, set an improbable target of 413 following an unbeaten century by Tillakaratne Dilshan, plodded to 30-1 in 13 overs by stumps […]
Maldives to stop money printing under IMF deal
Aug 21, 2009 (LBO) – The Indian Ocean tourist paradise of Maldives will stop printing money to finance its budget deficit and cut state sector wages to stabilize its economy, International Monetary Fund has said. “Maldives is facing a difficult economic and fiscal situation,” IMF mission chief to the archipelago said in a statement. “The […]
India to tackle drought shortfalls with imports: minister
NEW DELHI, August 21, 2009 (AFP) – India will import lentils, edible oil and other staples to cope with any shortfalls caused by a widespread drought that has badly hurt crops, the finance minister said Friday.The statement by Finance Minister Pranab Mukherjee came as the country of nearly 1.2 billion people faces its weakest monsoon […]
India should brace for swine flu pandemic: minister
NEW DELHI, August 21, 2009 (AFP) – India’s health minister warned Friday that the country of nearly 1.2 billion people must brace for a “large-scale” swine flu pandemic.Given the South Asian nation’s size “we shall have to be prepared much more than any other country in the world”, Ghulam Nabi Azad told a gathering of […]
Sri Lanka July tea crop down 11-pct
Aug 21, 2009 (LBO) – Production of Sri Lanka’s main export commodity, tea, remain well below last year’s level with the July output at 25.1 million kilos being 11 percent lower than the same month a year ago, brokers said. Tea production in other exporting countries is also down this year with the global shortfall […]
Shake Up
Aug 21, 2009 (LBO) – Sri Lanka’s Nations Trust Bank, a unit of John Keells Holdings has shaken up the top management of the bank shortly after an 800 million rupee foreign exchange loss was discovered. The bank was also being probed by Sri Lanka’s securities watchdog. Update II Saliya Rajakaruna, retiring chief financial officer […]
New Ship
Aug 21, 2009 (LBO) – Mercantile Shipping Company, a listed company that once had Sri Lanka’s biggest fleet, has taken delivery of the first of a pair of new buildings it ordered built by a Dutch yard.The stock exchange filing showed a gross profit of 17 million rupees in international business in the June 2009 […]
Sri Lanka shares stagnant
Aug 21, 2009 (LBO) – Sri Lankan shares ended flat Friday with small investors chasing speculative stocks like Environmental Resources Investments while a few big deals of heavyweights like John Keells Holdings went through, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]