Author: lbostgadmin
Harbour Moves
Dec 24, (2008) – The Sri Lankan government is trying to expedite a long-delayed project to call for private investors to build a new terminal in Colombo port, a senior ministry of ports and aviation official said.Ministry secretary Thosapala Hewage the attorney-general, the chief government legal officer, recently gave his opinion on the request for […]
Sri Lanka shares up, JKH trades boost volumes
Dec 24, 2008 (LBO) – Sri Lankan shares ended marginally higher Wednesday with heavy trading in John Keells Holdings boosting trading volumes, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index ended slightly higher, up 0.33 percent (4.93 points) to close […]
Sri Lanka spends a billion dollars on interventions
Dec 23, 2008 (LBO) – Sri Lanka has spent 266 million US dollars intervening in foreign exchange markets in November, taking the total over the past three months to over a billion dollars, the latest official data has revealed.But the inter bank market now has domestically generated excess liquidity of around six billion rupees, down […]
Golden Key
Dec 23, 2008 (LBO) – Thousands of anxious customers of Sri Lanka’s Golden Key Credit Card Company flocked to a conference hall in Colombo to meet Ceylinco group chairman Lalith Kotelawala, and get information on the status of their funds. Golden Key asked customers to come to the BMICH conference hall in Sri Lanka’s capital […]
Gulf Links
Dec 23, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) said it has struck a deal with Emirates Shipping Line to call at Colombo port. Its Gulf Indian-Subcontinent Africa service connects the Indian Subcontinent and Middle East with East Africa with a scheduled weekly service with short transit times. “The line is using Colombo […]
Sri Lanka shares down, trading dries up
Dec 23, 2008 (LBO) – Sri Lankan shares continued to weaken Tuesday with trading volumes staying near six-year lows and Ceylinco group firms showed mixed performance, with Ceylinco Insurance closing up, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index eased […]
Sri Lanka rupee dips to 112.80/90 against greenback
Dec 23, 2008 (LBO) – Sri Lanka rupee weakened towards 112.80/90 against the US dollar, with state banks on the buying side, dealers said Tuesday, as inter bank rupee markets remained liquid.Analysts say excess liquidity amid dollar tightness is usually a sign that the government is in a cash crunch. The latest official data shows […]
Sri Lanka fighting kills another 66: military
December 22, 2008 (AFP) – At least 56 Tamil Tiger rebels and 10 government soldiers were killed in fresh fighting in northern Sri Lanka on Monday, the army said.About 40 soldiers and 90 rebels were wounded in the battles outside Kilinochchi, the besieged political capital of the Liberation Tigers of Tamil Eelam (LTTE), the military […]
Fibre Optic
PARIS, December 21, 2008 (AFP) – France Telecom said Sunday that repair work has begun on damage to Mediterranean undersea cables that badly disrupted Internet and telephone communications between Europe, the Middle East and Asia.A 64-crew maintenance boat arrived on site, off the coast of Sicily, at 1400 GMT on Sunday following a two-day journey […]
Key Problem
Dec 22, 2008 (LBO) – Golden Key Credit Card Company is being rehabilitated after it was mismanaged and its chief executive has resigned, Sri Lanka’s Ceylinco group chief Lalith Kotelawala, said in a newspaper advertisement. Kotelawala said Khavan M Perera, chief executive director of Gold Key Credit Card Company Ltd has “admitted mismanagement and voluntarily […]
Buoyed Profits
Dec 22, 2008 (LBO) – RAM Ratings has assigned a claims-paying ability rating of BB to Sri Lanka’s Co-operative Insurance Company Limited (CICL) with a stable outlook. It said in a statement the rating takes into account the company’s “moderate competitive position” and underwriting standards. “However, the rating is pressured by hefty overheads, inadequate reserving […]
New Home
Dec 22, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) said it plans to build a new head office to house its offices now scattered throughout Colombo port and will not buy a hotel as planned previously. The SLPA is trying to get more space inside the harbour for its cargo operations with volumes […]