Author: lbostgadmin
Sri Lanka coconut cultivators ask for freedom
July 07, 2009 (LBO) – Sri Lankan coconut cultivators have demanded they be allowed to sell land on which growing coconuts has become unremunerative as nut prices have fallen.Coconut is an important part of the diet of Sri Lankans and the island’s crop is not enough to feed both industries as well as domestic consumers. […]
Top Marks
July 07, 2009 (LBO) – Sri Lanka’s Commercial Bank said it has been named the island’s ‘Best Bank’ by Hong Kong based ˜FinanceAsia,’ a regional financial publication. The publication’s latest rankings are based on financial performance for the 2008/9 period, the bank said in a statement. The evaluation includes criteria such as capital adequacy, liquidity […]
Slow Down
July 07, 2009 (LBO) – Sri Lanka’s commercial banks are likely to experience a slowdown in growth and profitability pressures from fresh asset quality problems, Fitch Ratings said. The rating agency said that it believes that if the policy environment improves, the banks’ balance sheets will be able to absorb the stress over the next […]
Sri Lankan shares slide for sixth straight day
July 07, 2009 (LBO) – Sri Lankan stocks continued to tumble for the sixth straight trading day Tuesday as investors stayed on the sidelines waiting for the market to settle down from a post-war bull-run, brokers said. The benchmark Colombo All Share Price Index closed down 0.32 percent (7.78 points) to end at 2,392.11 while […]
Sri Lanka stocks favourite of investor Jim Rogers: report
July 7, 2009 (LBO) – Head of Rogers Holdings, Jim Rogers will only buy Sri Lankan stocks and he is getting out of dollar assets because the Federal Reserve is printing money and the US government is deficit spending, a media report said. Stocks in Sri Lanka are “the only equities” Rogers would “consider buying […]
India offers US$100mn for Sri Lankan Tamils
NEW DELHI, July 6, 2009 (AFP) – India on Monday offered 100 million dollars for the tens of thousands of Tamil civilians displaced by conflict in Sri Lanka. India is home to millions of Tamils in southern Tamil Nadu state, which is separated by a narrow strip of sea from Sri Lanka.“I propose to allocate […]
Sri Lanka wipe out deficit in first Pakistan Test
GALLE, July 6, 2009 (AFP) – Sri Lanka batted cautiously on a lively wet pitch to cancel Pakistan’s 50-run lead on the third day of the first cricket Test here on Monday.The hosts took their second innings from the overnight 0-0 to 70-2 by lunch and now lead by 20 runs with eight wickets in […]
Pakistan chase 168 to win first Sri Lanka Test
GALLE, July 6, 2009 (AFP) – Pakistan faced a target of 168 runs to win the first cricket Test after bowling Sri Lanka out for 217 in their second innings after tea on the third day on Monday. Tharanga Paranavitana top-scored with 49, while fast bowler Mohammad Aamer and off-spinner Saeed Ajmal picked up three […]
Australia pressures Malaysia on people-smuggling
KUALA LUMPUR, July 6, 2009 (AFP) – Malaysia on Monday appealed for international help to curb people-smuggling, amid talks with Australian leaders who are pushing for action to close down illegal migration routes.Prime Minister Kevin Rudd is due to arrive here later Monday to pressure Malaysia on the thousands of illegal immigrants hit by wars […]
” return to 9.0 percent growth
NEW DELHI, July 6, 2009 (AFP) – India’s finance minister targeted a return to 9.0 percent economic growth “at the earliest” in a budget speech Monday that suggested the country had seen off the worst of the global financial crisis.But in announcing increased funding for farmers and poverty alleviation programmes, Pranab Mukherjee also warned that […]
Sri Lanka rules out removing rice price controls
July 06, 2009 (LBO) – Sri Lanka’s government which restricts the import of rice and has imposed high tariffs on substitute carbohydrates says ‘price controls’ on rice will remain, blaming a milling oligopoly for high prices. Potatoes are charged a 15 rupee tax per kilogram. The government also allocates money to buy rice to keep […]
Listing Deadline
July 5, 2009 (LBO) – Sri Lanka’s registered finance companies will have to be listed by June 30, 2011 as part of a prudential regulation framework promoted by the Central Bank, a media report said.The Sunday Island newspaper quoted Central Bank governor Nivard Cabraal as saying that out of 34 registered finance companies only eight […]