Author: lbostgadmin
Constant Vigil
June 16, 2009 (LBO) – Sri Lankan depositors should be more vigilant as hundreds of smaller unregulated financial firms are still in existence despite the collapse of a few high profile firms, officials said. “Those who invested in unregulated companies will not get their money back because there is no money to give. Going to […]
Not Yet
June 16, 2009 (LBO) – Sri Lanka’s central bank which offered a third stake of Seylan Bank to a private investor has not awarded it to the sold bidder by Lanka Orix Leasing Company (LOLC) by the previously set deadline of June 16. Among those who expressed interest was cash rich National Development Bank and […]
Sri Lankan shares up 0.2-pct
June 16, 2009 (LBO) – Sri Lankan stocks lost early gains to close flat Tuesday as the plantations sector retreated from the previous day’s highs, subdued from yesterday’s gains due to profit taking, brokers said. Agalawatte Plantations closed at 24.75 rupees, up 1.00, while Madulsima Plantations closed at 15.25 rupees, up 50 cents. Maskeliya Plantations […]
Sri Lanka water utility still cannot cover costs
June 15, 2009 (LBO) – Sri Lanka’s national water supply and drainage board (NWS&DB) has given 34 percent of the population pipe-borne water, but it still cannot recover costs, a finance ministry report said. The percentage of population covered by the Water Board’s pipe-borne schemes increased to 34 percent in 2008 from 32 percent in […]
Sri Lanka 1Q state revenues down 8.2-pct
June 15, 2009 (LBO) – Sri Lanka’s state revenues fell 8.2 percent to 144.9 billion rupees in the first quarter of 2009, while rising expenses have ballooned the gap in the current account of the budget to an unprecedented level. In the first two months of 2009 revenues fell 10.6 percent with tax revenues falling […]
” US recovery in mid-2010 but big risks
WASHINGTON, June 15, 2009 (AFP) – The International Monetary Fund projected Monday the United States would make a “solid” recovery from recession in mid-2010, but warned of major risks including the real-estate crisis and rising interest rates.In its annual report on the world’s biggest economy, the IMF projected US gross domestic product (GDP) would shrink […]
India crash, Sri Lanka suffer Irish scare
LONDON, June 14, 2009 (AFP) – Defending champions India crashed out of the World Twenty20 on Sunday while Sri Lanka stayed on course for the semi-finals but only after surviving a scare by Ireland. India lost by three runs to England at a packed Lord’s, a result which left Mahendra Singh Dhoni’s highly-rated team to […]
Sri Lanka military says Tiger sub found
June 15, 2009 (AFP) – Sri Lankan troops have recovered the first submarine believed to have been used by the defeated Tamil Tiger rebels, the military said Monday.Troops found the 24-foot (7.2-metre) submersible on the coast of the northeastern district of Mullaittivu, where the Liberation Tigers of Tamil Eelam (LTTE) were defeated last month, ending […]
Circular Delay
June 15, 2009 (LBO) – The Sri Lankan government has decided to call for fresh tenders for the Greater Colombo Urban Transport Development Project as previous bids were too high. The project, meant to ease traffic jams in Colombo, is funded by a 223 million US dollar loan from Japan, the finance ministry said in […]
Sri Lankan stocks up 1.40-pct
June 15, 2009 (LBO) – Sri Lankan shares gained on Monday pushed up by the blue chips counters headed by conglomerate John Keells Holdings (JKH)and high retail interest in construction, hotels and plantations sectors, brokers said. Malwatte valley Plantations closed 33.00 rupees, up 4.25, while Udapussellawa Plantations closed at 27.00 rupees, up 3.50. Agalawatte Plantations […]
‘s World Cup hosting rights hang in balance
LONDON, June 14, 2009 (AFP) – World cricket chiefs are working out a middle path to resolve the controversy over Pakistan’s right to remain co-hosts of the 2011 World Cup in the sub-continent. Top officials of the International Cricket Council, including president David Morgan of England, will debate the matter at a meeting here on […]
Major Tamil Tiger arms cache found in Sri Lanka: govt
June 14, 2009 (AFP) – Sri Lankan troops have unearthed the largest haul of weapons and ammunition discovered since the defeat of Tamil Tiger rebels last month, the government said on Sunday. Military officials said the discoveries made over the weekend formed the largest haul since the government’s recent victory over the Tiger rebels ended […]