Author: lbostgadmin
Sri Lanka cuts reserve ratio to 7.75-pct
Nov 25, 2008 (LBO) – Sri Lanka has cut its statutory reserve ratio for commercial banks from 9.25 percent to 7.75 percent, releasing 17 billion rupees in cash to the banking system, the central bank said. The statutory reserve ratio (SRR) cut will release 17 billion rupees to the banking system when it becomes effective […]
Greenlanders go to the polls to decide on self-rule
NUUK, November 25, 2008 (AFP) – Some 39,000 people in Greenland vote on Tuesday in a referendum on self-rule for the Danish territory, a move that could pave the way for total independence for the Arctic island.Public opinion polls in the run-up to the referendum have suggested that a large majority plan to vote in […]
Zimbabwe batsmen recover but Sri Lanka take series
HARARE, November 24, 2008 (AFP) – A transformation in Zimbabwe’s batting almost earned them a shock victory over Sri Lanka here Monday in the third of five internationals. They followed the Sri Lanka score of 171 for seven in the allocated 28 overs following morning rain with 166 for seven to lose by only five […]
Sri Lanka Cricket hunts for new sponsors
Nov 25, 2008 (LBO) – Sri Lanka Cricket has sought new commercial deals to sponsor the national team during their local and foreign tours, which include a visit to India. SLC’s main source of revenue comes from selling television rights.
Tamil Tiger chief to make annual speech as fiefdom crumbles
November 25, 2008 (AFP) – The reclusive leader of Sri Lanka’s Tamil Tigers is to deliver his annual policy address this week from a besieged jungle hideout that could soon be totally overrun by government troops.With his northern fiefdom shrinking fast in the face of a massive onslaught, Velupillai Prabhakaran is expected to use Thursday’s […]
Sri Lanka poised to take Tiger HQ despite rains: military
November 25, 2008 (AFP) – Security forces ambushed and killed scores of Tamil Tigers in northern Sri Lanka on Tuesday, the defence ministry said, adding its troops were poised to take the rebels’ political capital. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Government soldiers occupying a […]
IMF board approves 7.6 billion dollar credit to Pakistan
WASHINGTON, November 24, 2008 (AFP) – The International Monetary Fund said Monday its executive board approved a credit of 7.6 billion dollars for Pakistan, the Fund’s first rescue in Asia since the global financial crisis began. The credit will “support the country’s economic stabilization program,” the IMF said in a brief statement. The Fund and […]
Banking Profits
Nov 25, 2008 (LBO) – Profits at HSBC Sri Lanka has increased 94 percent to 1,664 million rupees in the first 9-months of 2008 despite large loan write-offs and rising interest expenses, published interim accounts showed. Interest income grew 22 percent to 14.1 billion rupees, interest expenses grew 31 percent to 6,450 million rupees while […]
Hub Threats
Nov 25, 2008 (LBO) – Sri Lanka’s Colombo harbour needs to reduce dependence on the Indian sub-continent and expand its coverage to get cargo from elsewhere in order to emerge as a true global hub port, a senior port professional says. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
Sri Lanka shares slide, Dialog actively traded
Nov 25, 2008 (LBO) – Sri Lankan stocks sank further Tuesday on thin volumes with active trading in Dialog Telekom, a market heavyweight which recently posted its first quarterly loss. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index fell 1.81 percent (29.94 […]
Sri Lankan Airlines resumes flights to Rome
Nov 24, 2008 (LBO) – Sri Lankan Airlines said it will resume flights to Rome from December 3, 2008, its first new destination since the management of the national carrier returned to the government in April. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The airline said […]
Sri Lanka heavy fighting kills scores
November 24, 2008 (AFP) – At least 27 soldiers and 120 Tamil Tiger rebels were killed as government forces battled their way to the outskirts of the rebels’ political headquarters, the defence ministry said on Monday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 Heavy fighting raged […]