Author: lbostgadmin
Sri Lanka Union Assurance June net down 16-pct
July 31, 2009 (LBO) – Sri Lanka’s Union Assurance said net profit for the June 2009 quarter fell 16 percent to 41 million rupees from a year ago as tax costs and claims rose sharply.The company, in which John Keells Holdings has an 81 percent stake, said in a stock exchange filing that group revenue […]
Sri Lankan stocks up 1.36-pct during week
July 31, 2009 (LBO) Sri Lankan shares closed up Friday on improved sentiment among small investors, while heavy trading on Janashakthi Insurance and Nations Trust Bank (NTB) boosted market volumes, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed up 0.55 percent (13.85 points) to end at 2,525.70, while the Milanka index of […]
Sri Lanka plans to raise US$500mn from foreign markets: report
July 31, 2009 (LBO) – Sri Lanka plans to raise 500 million dollars from foreign investors through a bond or syndicated loan, with an International Monetary Fund endorsement under its belt, a media report said. Sri Lanka is seeking to raise money overseas along with countries like the Philippines and Indonesia at a time the […]
Sri Lanka down Pakistan in first one-dayer
DAMBULLA, July 30, 2009 (AFP) – Seamers Thilan Thushara and Nuwan Kulasekera ripped through Pakistan’s top order as Sri Lanka won the first one-day international by 36 runs here on Thursday.Left-armer Thushara finished with 3-29 and Kulasekera took 2-30 as Pakistan struggled against Sri Lanka’s 232-9 and were bowled out for 196 in 44.4 overs […]
Sri Lankan in code share deal with British carrier after war ends
July 30, 2009 (LBO) – State-run national carrier SriLankan Airlines, said it had broadened a code share deal with UK’s bmi following the relaxation of British travel advice following the end of a war. SriLankan Airlines says there are no European airlines flying in to Colombo, apart from ad hoc charter operations. Bmi will shortly […]
Sri Lanka govt plans training for former combatants
July 30, 2009 (AFP) – Sri Lanka plans to offer education and vocational training for about 20,000 former Tamil Tiger rebels, including child soldiers and operatives trained as suicide bombers, an official said Thursday.Nearly 300,000 people who were displaced by the ethnic conflict are still held in camps under military guard. The government insists that […]
Infants die in Bangladesh after taking cheaply made drugs
DHAKA, July 30, 2009 (AFP) – When Kohinur Akhter’s 19-month-old baby boy came down with a fever and cough a little over a week ago, she had no idea the medicine she gave him to ease the pain would put him on his death bed. Now Akhter has been told by doctors in Bangladesh that […]
Telco Scout
July 30, 2009 (LBO) – Emirates Telecommunications Corporation or Etisalat is scouting for investment opportunities in Sri Lanka’s fast growing telecom sector after the end of its decades long ethnic war, a top official said. Millicom officials have not commented on individual firms that are in the bidding process except to say that several firms […]
Recovery Path
July 30, 2009 (LBO) – Sri Lanka’s Seylan Bank said it had stepped up efforts to recover loans and improved credit evaluation and corporate governance under new management which was appointed by the banking regulator. It said in a statement the bank, which faced a run after the collapse of an unlisted subsidiary of its […]
Financial Scrutiny
July 30, 2009 (LBO) – Sri Lankan authorities have begun evaluating the financial proposal of the sole bid by China Merchant Holdings and Aitken Spence for a new container terminal in Colombo port, officials involved with the project said.The new port, which has been delayed for years, is needed urgently to cater to the bigger […]
Sri Lankan stocks close flat
July 30, 2009 (LBO) – Sri Lankan shares closed flat Thursday, as retailers took profits on blue chip counters, while Dialog shares continued to be heavily traded, brokers said. The benchmark Colombo All Share Price Index (ASPI) closed down 0.01 percent (0.22 points) to end at 2,509.79 Thursday, while the Milanka index of liquid stocks […]
Sri Lanka promotes common telecom facilities in war-torn areas
July 30, 2009 (LBO) – Telecom firms racing to set up networks in Sri Lanka’s war-torn north and east, are being encouraged to share infrastructure under a new rebuilding plan, a top official said.The masterplan includes making it mandatory for at least three operators to share the cost of installing and running network towers, Telecommunications […]