Author: lbostgadmin
Liquidity
Jan 23, 2009 (LBO) – Sri Lankan registered finance company sector (RFC) which has been shaken by recent collapses of unregulated institutions should be able to overcome liquidity problems, a rating agency has said. RAM Ratings say that the collapse of Sakvithi and Golden Key, two unregulated firms had affected public confidence. “So much so […]
Long Voyage
Jan 23, 2009 (LBO) – Sri Lanka’s Galle port is sprucing itself up with a new yacht marina in a bid to attract the high-spending sailors who sail past the island’s south coast on their round-the-world voyages. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “The facilities […]
Dollar Account
Jan 23, 2009 (LBO) – The Sri Lanka Ports Authority (SLPA) is awaiting government approval to operate a ‘dollar account’ to cut mounting foreign exchange losses due to a strong rupee and an appreciating yen, a senior official said. “We are planning to get a dollar account. If we can get permission from central bank […]
Sri Lanka urged to act on human rights abuses
Jan 22, 2009 (LBO) – Britain has urged the Sri Lankan government to take strong action to prevent human rights abuses and called on both sides to the ethnic conflict to ensure the safety of civilians. “Creating an environment in which people from all communities in Sri Lanka live without fear is essential to creating […]
Sri Lanka revise India tour schedule
January 22, 2009 (AFP) – The central town of Dambulla will host just one match instead of two during India’s upcoming tour of Sri Lanka, the two cricket boards said in a statement on Thursday.Dambulla, which was due to hold the first two matches of the five-match one-day series, will now host only the opening […]
Malaysian police on alert for Tamil Tiger leader: report
KUALA LUMPUR, January 22, 2009 (AFP) – Malaysia is on alert for Sri Lankan Tamil Tiger chief Velupillai Prabhakaran, saying he may have fled here after troops surrounded his last remaining stronghold, according to reports Thursday.Police chief Musa Hassan told the New Straits Times daily he had ordered a nationwide alert following reports that Prabhakaran, […]
Sri Lanka says troops seize Tiger command centre
January 22, 2009 (AFP) – Sri Lankan troops have seized a Tamil Tiger command centre in the island’s north as ground troops advance further into the rebels’ remaining territory, a military official said on Thursday.Security forces found briefing rooms containing detailed maps at the facility in the district of Mullaittivu, where the Liberation Tigers of […]
Sri Lankan Tigers block UN staff from leaving
January 22, 2009 (AFP) – The United Nations Thursday accused Sri Lanka’s Tamil Tigers of preventing its staff from leaving rebel-controlled areas in the north of the island.The UN said several of its local staff and their families were prevented from leaving Thursday with a convoy that had earlier taken food and emergency supplies to […]
Profitable Calls
NEW DELHI, January 22, 2009 (AFP) – Top Indian mobile phone firm Bharti Airtel reported a third-quarter net profit rise of 25 percent Thursday after signing a record number of users in the world’s fastest-growing cellular market. Net profit in the three months to December-end jumped to 21.59 billion rupees (434 million US dollars) from […]
Capacity Problem
Jan 22, 2009 (LBO) – Sri Lanka’s top markets regulator has said an accounting and auditing watchdog body was severely understaffed and lacked the ability to do its job effectively.Channa de Silva, director general, of the Securities and Exchange Commission, said the lack of staff at the watchdog body was one reason it could not […]
Airing Deal
January 22, 2009 (LBO) — Nimbus Sports International on Wednesday said it bagged the worldwide rights to broadcast India’s upcoming cricket tour of Sri Lanka. Nimbus bags rights for Sri Lanka Cricket India last toured Sri Lanka in July-August last year, losing the Tests 2-1 before winning the one day series 3-2. Sri Lanka Cricket, […]
Sri Lanka central bank targets diaspora, currency swaps: interview
Jan 21, 2009 (LBO) – Sri Lanka’s central bank says it will persevere with its quantity targeting regime this year but also use other instruments if needed. It is also negotiating currency swaps with other central banks to have greater access to foreign currency. A weakening economic outlook at home and global economic troubles has […]