Author: lbostgadmin
Sri Lanka stocks down again
Feb 03, 2009 (LBO) – Sri Lankan shares were dragged down again Tuesday by losses in index heavy stocks with earnings that companies have begun to report for the December quarter being mostly poor as anticipated, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The […]
Sri Lanka bill yields edge up
Feb 03, 2009 (LBO) – Sri Lanka’s Treasury bill yields edged up at Tuesday’s auction with a larger volume of bills being sold compared to a week earlier, the government’s debt office said, reversing a steadily easing trend seen over several weeks.The 3-month yield gained 05 basis points to 15.99 percent, the 6-month yield gained […]
Sri Lanka to have single digit inflation in 1Q09: CB Governor
Feb 02, 2009 (LBO) – Sri Lanka is expecting single digit inflation in the first quarter of 2009, and further falls in interest rates, Central Bank Governor Nivard Cabraal said, less than a year after the island recorded its highest inflation of close to 30 percent. The Colombo Consumer Price Index (CCPI), whose weights were […]
Oil Money
Feb 02, 2009 (LBO) – Cairn India, which is exploring for oil in Sri Lankan waters, said group after-tax profit for the December quarter was 48.5 million dollars compared to a loss of 3.5 million dollars in the same period in 2007.A company statement said group revenue of Cairn India for the quarter was 43.3 […]
Sri Lanka eyes unity amid drive to crush Tamil Tigers
February 2, 2009 (AFP) – Sri Lanka has heightened its usually tight security ahead of national day celebrations even though the rebel Tamil Tigers have been brought to their knees for the first time in decades. The island marks the 61st anniversary of independence from Britain Wednesday with a military parade while its security forces […]
Sri Lanka hospital shelled in fighting, nine killed
February 2, 2009 (AFP) – Shells hit a crowded hospital in northeast Sri Lanka, killing at least nine people and raising fears Monday for thousands of civilians caught in a final military push against cornered Tamil Tiger rebels. The hospital, which is in rebel-held-territory and houses around 500 patients, took direct hits in two separate […]
Sri Lanka warns civilians in combat zone
February 2, 2009 (AFP) – Sri Lanka issued a stark warning to civilians trapped in fighting with Tamil Tiger rebels Monday, a day after shells hit a crowded hospital in the northeast combat zone, killing at least nine people.A government statement said the fight against the cornered Tigers was at “the decisive stage” and that […]
IT Services
Feb 02, 2009 (LBO) – Massachusetts-based Virtusa Corp., an IT services firm with operations in Sri Lanka, said net profit for the December quarter rose 18.9 percent to 6.3 million dollars from a year ago. Virtusa has offices in the United States and the United Kingdom and global delivery centres in Hyderabad and Chennai, India […]
Sri Lanka stocks dragged down by heayweights
Feb 02, 2009 (LBO) – Sri Lankan shares were dragged down Monday by losses in heavyweights over earnings concerns with Lanka Cement the most actively traded stock in anticipation of a revival in construction activity, brokers said.Commercial Bank fell 2.62 percent (2.50 rupees) to 93 rupees with investors remaining worried over suspended oil hedge payments […]
Sri Lanka targets US$500mn from diaspora: CB Governor
Feb 02, 2009 (LBO) – Sri Lanka is planning to sell 500 million dollars of government securities to the diaspora community in 2009 with a road show to be kicked off this month in 11 countries, Central Bank Governor Nivard Cabraal said. The money will be channeled into the country through a forex account which […]
Sri Lanka central bank to swap rupees for dollars
Feb 02, 2008 (LBO) – Sri Lanka’s Central Bank is negotiating with friendly central banks to swap rupees for dollars, to boost the country’s flagging foreign reserves and meet unforeseen outflows, officials said.Central Bank Governor Nivard Cabraal said the first such swap deal is likely to be concluded ‘soon’ but declined to give a date […]
Most governments fail to account for spending: report
WASHINGTON, January 31, 2009 (AFP) – Eighty percent of the world’s governments fail to provide adequate information on spending to the public, often because of a lack of political will, according to a report published Saturday. The International Budget Partnership (IBP), a non-governmental organization that promotes transparency in government, said it evaluated the budgets of […]