Author: lbostgadmin
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 […]
Back-in-favour Yousuf repays Pakistan with ton
GALLE, July 5, 2009 (AFP) – Mohammad Yousuf hit a fluent century on his return to big-time cricket to put Pakistan ahead in the first Test against Sri Lanka here on Sunday.Dilshan was forced to don the gloves because first choice Prasanna Jayawardene was unavailable due to injury and skipper Kumar Sangakkara, the one-day ‘keeper, […]
Energy-pioneering Austrian town exports its model
GUESSING, July 5, 2009 (AFP) – After 20 years investing in renewable energy, the small Austrian town of Guessing, a model of energy self-sufficiency, is spreading its pioneering technology far and wide. That would cut CO2 emissions in the district by 85 percent, he added. Guessing’s model has also raised interest farther afield and in […]