Author: lbostgadmin
EU expresses regret as Sri Lanka avoids war crimes probe
BRUSSELS, May 28, 2009 (AFP) – The European Union expressed regret Thursday at the failure to launch a probe into alleged war crimes committed by the Sri Lankan military during its offensive against Tamil Tiger rebels.On Wednesday, the UN Human Rights Council adopted a resolution proposed by Sri Lanka and non-aligned states that welcomed Colombo’s […]
Sri Lanka blocks call for human rights probe
GENEVA, May 27, 2009 (AFP) – The UN Human Rights Council ended a special session on Sri Lanka’s conflict on Wednesday with diplomats failing to bridge an Asian-Western divide over whether to probe alleged abuses.“There is no reason for a probe.These are political statements made by various people. I don’t think we should get excited […]
United Breweries, Heineken may form Indian venture
NEW DELHI, May 28 (Asia Pulse) – Vijay Mallya-led United Breweries (UB) and Dutch beer maker Heineken could come together in the Indian market, following the exit of Jaipuria from Asia Pacific Breweries-Pearl. “Talks between both companies (UB Group and Heineken) are in the advance stages and soon both will announce the deal,” a source […]
Sri Lanka poultry sector in dead trouble
May 28, 2009 (LBO) – A top Sri Lankan poultry breeder says it is destroying parent stock amid a deepening slump in the industry, while a related chicken feed producer said it was hit by fresh government taxes. Printed Bubble Following several years of money printing, Sri Lanka’s also saw inflation peaking at 29.9 percent […]
Mortgage Rating
May 28, 2009 (LBO) – Fitch Ratings Lanka has confirmed an ‘AA-(lka)’ rating assigned to a mortgage backed security issued by Sri Lanka’s HDFC Bank. Fitch said the outlook of the rating on the 82.6 million rupee HDFC Home Loan Securitisation Trust 2005 – Sri Lanka’s (HLST) was ‘stable’. The security was given a Loss […]
Fee Hit
May 28, 2009 (LBO) – Sri Lanka’s Citibank unit’s March 2009 quarter profits were down 41.7 percent to 230.6 million rupees on sharply lower fee income, though the net interest margins were up, published accounts showed. Interest income was up 14.5 percent to 756.8 million rupees, while interest expense was down 12.1 percent to 208.0 […]
Lease Focus
May 28, 2009 (LBO) – Ceylinco Finance, a listed firm in the Ceylinco group, says it is re-structuring itself under the guidance of a veteran banker to focus on leasing, and is planning to ask for a finance company license. N B S B Balalle, a former chief executive of state-run National Savings Bank, has […]
Repair Returns
May 28, 2009 (LBO) – Sri Lankan ship builder Colombo Dockyard said net profit for the March 2009 quarter shot up 112 percent to 519 million rupees from 245 million rupees a year ago.A platform support vessel for the same Indian customer – the first of an order of four – is now under construction. […]
Sri Lanka stocks up 2.3-pct after rights vote
May 28, 2009 (LBO) – Sri Lankan closed up 2.3 percent as the market reacted positively to a vote in favour Sri Lanka’s government at a UN human rights body, brokers said. “Investors were optimistic about the future potential of the economy because confidence levels are also high,” said Balasuriya. Sri Lanka’s largest privately held […]
Sri Lanka may relax forex trading curbs from June: CB Governor
May 27, 2009 (LBO) – Sri Lanka may expand forex trading limits of banks from next month, Central Bank Governor Nivard Cabraal said, as the country emerged from a balance of payments crisis with the monetary authority becoming net dollar buyer. “If we did not buy the rupee would appreciate further,” Cabraal said. The rupee […]
Sri Lanka planning credit scheme for the war-affected: CB Governor
May 27, 2009 (LBO) – Sri Lanka is planning a central bank re-financed credit scheme for people in former war-affected areas to allow people to rebuild their lives, Central Bank Governor Nivard Cabraal said. However Cabraal says re-financing would be within reserve money and inflation targets. “These people need help and society will have to […]
UN rights council divided over Sri Lanka probe
GENEVA, May 26, 2009 (AFP) – UN human rights chief Navi Pillay on Tuesday called for an international investigation into attacks on civilians during the final stages of the civil war in Sri Lanka.“There are strong reasons to believe that both sides have grossly disregarded the fundamental principle of the inviolability of civilians,” Pillay told […]