Author: lbostgadmin
US gives food aid to speed up refugee settlement
Aug 10, 2009 (LBO) – The United States said it had donated another 15 million dollars of food to help resettle people displaced by Sri Lanka’s ethnic war whose early return to their homes Washington is pressing for. The US embassy said in a statement the aid through the US Agency for International Development (USAID), […]
Sri Lanka coast guard sets up bases
Aug 10, 2009 (LBO) – Sri Lanka’s new coast guard has begun setting up bases and will get vessels from the navy for initial patrol work to protect ocean resources and for maritime security, its director-general Daya Dharmapriya said. The coast guard will get vessels for both offshore and inshore patrolling and also intends to […]
Indian car sales jump 31 percent
NEW DELHI, August 10, 2009 (AFP) – Indian car sales jumped for a sixth straight month in July, climbing an annual 31 percent, as new launches and cheaper finance boosted demand, industry figures showed Monday. Domestic passenger car sales rose to 115,067 units in July from 87,901 units a year ago, the Society of Indian […]
”” futures: Indian FM
MELBOURNE, August 10, 2009 (AFP) – “Dubious” Australian colleges are ruining the future prospects of young Indian students and trashing the country’s reputation abroad, India’s foreign minister said in comments published Monday.S.M. Krishna, visiting Australia to express concern over a wave of street assaults on Indian students, said there was concern in New Delhi about […]
Tele Calls
Aug 10, 2009 (LBO) – Profits of Sri Lanka Telecom group, fell 75 percent to 375 million in the June 2009 quarter, while revenues stayed flat at 11.74 billion rupees, with growth in data and mobile sectors, the company said. Operating costs rose 26 percent to 7.39 billion rupees, partly on account of Mobitel network […]
Financial Reality
Aug 10, 2009 (LBO) – Sri Lankan commercial banks which seem to enjoy wide interest margins on the surface have low profitability, amid high taxation and rising bad loans, a senior banker has warned.“Capital providers would probably not think of banks as a prime sector to invest in this market” Nihal Fonseka, chief executive of […]
Sri Lankan shares down 0.27-pct
Aug 10, 2009 (LBO) – Sri Lankan share prices fell Monday, dragged down by index heavy blue chips as investors stayed away, waiting for corporate earnings, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.27 percent (6.76 points) to end at 2,522.77 Monday, while the Milanka index of liquid stocks lost […]
Sri Lanka collects US$739.35mn US dollars since float
Aug 10, 2009 (LBO) – Sri Lanka’s central bank has collected 289.10 million US dollars from forex markets in July, bringing the total to 739.35 million US dollars since the float of the currency in March, the latest official data shows. The IMF has put in conditions to prevent inconsistent policy in the future, requiring […]
Canada triples aid to Sri Lanka
MONTREAL, August 8, 2009 (AFP) – Canada has decided to triple its humanitarian aid to Sri Lanka to assist people displaced by the country’s conflict with Tamil separatists, Canada’s top development minister said Saturday. The move came after Minister of International Cooperation Beverley Oda spent three days visiting the island nation and will take Canada’s […]
New IMF loan insufficient for Pakistan problems: economist
KARACHI, August 8, 2009 (AFP) – Pakistani economists on Saturday said an additional 3.2 billion dollar loan from the IMF would have little impact on the economic problems facing the cash-starved South Asian country.The International Monetary Fund on Friday said it had approved an additional 3.2 billion dollar loan to Pakistan after it asked for […]
Pro-Tiger party wins one Sri Lanka council
August 9, 2009 (AFP) – A party that backs the defeated Tamil Tiger rebels won a council in elections near Sri Lanka’s former war zone, results showed Sunday, in a sign that separatists still attract popular support.Widespread international concern was voiced over the number of civilians killed during the fighting, while aid groups now fear […]
Sri Lanka crushed by Pakistan in final one-dayer
August 9, 2009 (AFP) – Skipper Younus Khan led the way as Pakistan defeated Sri Lanka by 132 runs in the fifth and final one-day international here on Sunday.Younus top-scored with 76 and Misbah-ul Haq hit an unbeaten 73 to steer Pakistan to 279-8 after they won the toss and elected to bat in the […]