Author: lbostgadmin
Sri Lanka evacuates nationals from Thailand through military base
December 3, 2008 (AFP) – Sri Lanka operated special flights to a Thai military base to evacuate all its 378 nationals stranded in Thailand due to political protests, acting foreign minister Hussein Bhaila said Wednesday. The country’s national carrier, Sri Lankan airlines, operated flights to Thailand’s U-Tapoa airbase and completed the evacuation of all its […]
Sri Lanka Seylan Bank to sell 5-year debentures
Dec 03, 2008 (LBO) – Sri Lanka’s Seylan Bank is seeking at least 400 million rupees through a 5-year debenture issue that offers annual interest rates as high as 21.5 percent with an option to raise a further 600 million rupees. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
US in recession since December 2007: official panel
WASHINGTON, December 2, 2008 (AFP) – A US recession began in December 2007, a panel of economists charged with the official designation of business cycles said Monday.But the gross domestic product (GDP) data may have been skewed by tax rebates that stimulated consumer spending, according to analysts. The NBER said “we do not identify economic […]
Sri Lanka monsoon floods affect 370,000: UN
GENEVA, December 2, 2008 (AFP) – Monsoon floods in the north of Sri Lanka have affected more than 370,000 people, with 71,000 being displaced, the United Nations said Tuesday.Tamil Tiger guerrillas, who began their struggle for a separate Tamil homeland in 1972, are currently facing the Sri Lankan army’s biggest ever offensive in the north.“The […]
Labour unrest hits Sri Lankan-managed Maldivian resort
Dec 2, 2008 (LBO) – Over 100 people attached to Sri Lankan Aitken Spence Group’s Meedhuparu Island resort in the Maldives, have struck work demanding better working conditions, joining colleagues in three other resorts, reports said. The strike, which began over the weekend, is initiated by Maldivian employees who want the management to implement the […]
Secure Plastic
Dec 02, 2008 (LBO) – Sri Lanka’s Sampath Bank has launched chip-embedded credit cards in a bid to outsmart credit card fraudsters who are increasingly targeting the country, officials said. Countries like Malaysia which had become credit card ‘hot spots’ had managed to fight off fraud with computer chip-embedded ‘smart’ cards. “Due to chip technology […]
Sri Lanka shares weaken, trading slumps to 4-year low
Dec 02, 2008 (LBO) – Sri Lankan shares weakened Tuesday with trading drying up and turnover slumping to a low of 33 million rupees, the lowest for four years, dealers said.Sri Lankan shares have been on a long slide owing to a slowing economy and poor company earnings amidst high inflation and interest rates. On […]
Sri Lanka grind out final ODI win for whitewash
HARARE, November 30, 2008 (AFP) – Sri Lanka rounded out a 5-0 series victory in Zimbabwe at Harare Sports Club here Sunday, winning by just 19 runs after struggling to 152 all out having been put into bat.Zimbabwe, whose spinners had given them a chance on a lifeless pitch at least to try to prevent […]
Sri Lanka takes another town in battle for Tiger capital: military
December 1, 2008 (AFP) – Sri Lankan government forces on Monday wrested control over another town from Tamil Tiger rebels in their offensive to capture the political capital of the guerrillas, the defence ministry said.The guerrillas, who began their struggle for a separate Tamil homeland in 1972, are facing the Sri Lankan army’s biggest ever […]
Though shaken by siege, Mumbai comes back to life
MUMBAI, December 1, 2008 (AFP) – For 60 hours, Mumbai residents watched aghast as gunmen opened fire in a station and hospital, seizing two top hotels and a Jewish centre in a coordinated assault that left at least 172 people dead. But soon after an attack described by many in the media here as “India’s […]
Tele Rate
Dec 01, 2008 (LBO) – Fitch Ratings has confirmed Sri Lanka Telecom’s ‘B+’ long term foreign currency credit rating, with a stable outlook, and says it is increasing market share in the mobile market, though margins are narrowing. “The company also enjoys a dominant share of the international long-distance and IP and data-related services.” In […]
State Facts
Dec 01, 2008 (LBO) – Net profits of state-run Bank of Ceylon fell 5.6 percent in the 9-months to September while revenues grew 20.6 percent to 43.9 billion rupees, interim accounts published by the bank showed. Deposits grew to 325.6 billion rupees from 310.4 billion rupees in the nine months. Savings accounts grew to 141.3 […]