Author: lbostgadmin
Indian Ocean buoys help predict monsoon: scientists
WASHINGTON, May 4, 2009 (AFP) – Scientists said Monday they had reached the halfway point in a project to set up buoys across the Indian Ocean, helping farmers predict the monsoon in some of the world’s poorest areas.The buoys measure wind, rainfall, temperature and other figures around the Indian Ocean, which has lagged behind the […]
” sweeps African cocoa fields
CANTONDOUGOU, May 5, 2009 (AFP) – The comforting world of chocolate ads could not be further from the harsh reality in the backwoods of the world’s biggest cocoa producer — where rubber is the new crop of choice. In the village of Cantondougou in western Ivory Coast there are no steaming mugs of hot chocolate […]
Moribund Merchant
May 05, 2009 (LBO) – Merchant Bank of Sri Lanka (MBSL) said its March quarter group net profit fell 5.8 percent to 29.8 million rupees from a year ago, with net interest income flat.MBSL is also acquiring control of Ceylinco Savings Bank (CSB), part of the troubled Ceylinco group, which suffered a run after another […]
Safe Anchorage
May 05, 2009 (LBO) – Sri Lanka is trying to position itself to attract the growing ship lay-up business triggered by the global economic slump and has earmarked safe anchorages for vessels, a senior Sri Lanka Ports Authority (SLPA) official said.“We have got clearance from the security authorities now to lay up vessels in safe […]
Sri Lankan stocks up, rupee stable
May 05, (2009) – Sri Lankan shares were boosted by heavy trading in high-value stocks with a foreign fund continuing to sell its stake in National Development Bank (NDB) while the rupee was stable at 119.90/120.10 during late afternoon trading, brokers and dealers said. A source close to the deal said fund manager Raj Rajaratnam’s […]
Sri Lanka treasuries fall
May 5, 2009 (LBO) – Sri Lanka’s Treasuries yields fell across the board with the 12-month yield falling 27 basis points to 13.78 percent at Tuesday’s auction, the government’s debt office said. The 6-month yield fell 51 basis points to 13.44 percent and the 3-month yield fell 43 basis points to 12.22 percent. The government […]
Bitter with West, Sri Lanka turns East for cash and support
May 4, 2009 (AFP) – The Sri Lankan government is increasingly tilting towards Iran, Libya and China for foreign aid as its traditional Western allies ramp up their criticism of the war against Tamil rebels. Many Western nations have outlawed the Tamil Tigers and cut off their funding networks, but the Colombo administration is deeply […]
Sri Lanka business told to watch out for bad debt
May 04, 2009 (LBO) – Sri Lankan businesses should be more cautious and assess customer creditworthiness more often, when doing business during a recession, a senior corporate executive said. They should watch out for bad debts as during such times previously solvent customers can quickly become insolvent, says Chemanex chief executive Preethi Jayawardena who was […]
Jayawardene leads Punjab to last-over win over Kolkata
PORT ELIZABETH, May 3, 2009 (AFP) – Mahela Jayawardene struck an unbeaten 52 to guide Kings XI Punjab to a nail-biting six-wicket victory over Kolkata Knight Riders in the Indian Premier League here on Sunday. The Sri Lankan batsman hit seven fours in his 41-ball knock as Punjab surpassed Kolkata’s competitive 153-3 in a last-ball […]
Sri Lanka HNB Assurance March profit up 12-pct
May 04, 2009 (LBO) – Sri Lanka’s HNB Assurance said March quarter after tax profit rose 12 percent to 15.9 million rupees from a year ago helped by a sharp increase in earnings from investments. Gross written premium rose 12 percent to 457 million rupees, the company said in a stock exchange filing of its […]
‘s call for ceasefire: ministry
May 4, 2009 (AFP) – Sri Lanka on Monday rejected a Canadian call for a ceasefire in the military campaign against cornered Tamil Tiger guerrillas in the island’s northeast, the foreign ministry said.Sri Lanka’s Foreign Minister Rohitha Bogollagama told the visiting Canadian Minister for International Cooperation Beverly Oda that a previous unilateral truce by the […]
Shorter Deadline
May 04, 2009 (LBO) – Sri Lanka’s central bank which is collecting information on assets of Golden Key Credit Card, a collapsed financial firm, said its officials and past officials should declare assets by May 05. The Central Bank brought forward the deadline following a court order on April 27 which required information to be […]