Author: lbostgadmin
Sri Lanka seizes funds said to be used for terror acts
Nov 18, 2008 (LBO) – Sri Lanka’s central bank said it had made the Tamil Rehabilitation Organization (TRO), an organisation linked to the Tamil Tigers, to forfeit its funds to the state under laws against terrorist financing. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 “A sum […]
Slave labor reality of Sugar-cane ethanol
SAO PAULO, November 17, 2008 (AFP) – The cost of slave labor in sugar cane fields should not be overlooked when promoting the virtues of ethanol, the Roman Catholic Church said Monday, as an international conference on biofuel got under way in Brazil. “Without taking such (human) cost into account, you cannot promote the relative […]
Sri Lanka shares head down
Nov 18, 2008 (LBO) – Sri Lankan stocks resumed their downward march Tuesday after a brief halt the day before but with trading volumes drying up and the bearish trend likely to continue, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price […]
Sri Lanka troops take two more towns from Tigers: defence ministry
November 17, 2008 (AFP) – Sri Lankan troops on Monday captured two more strategic towns from Tamil Tiger rebels following fierce fighting in the north of the island, the defence ministry said.Security forces battling to dismantle the rebels’ mini-state entered the town of Mankulam, located just south of the Tamil Tiger political capital of Kilinochchi, […]
Floods under Antarctic ice speed glaciers into sea: study
PARIS, November 17, 2008 (AFP) – Scientists unveiled Sunday the first direct evidence that massive floods deep below Antarctica’s ice cover are accelerating the flow of glaciers into the sea.How quickly these huge bodies of ice slide off the Antarctic and Greenland land masses into the ocean help determine the speed at which sea levels […]
Sri Lanka sea pollution increasing
Nov 17, 2008 (LBO) – Pollution of the seas around Sri Lanka is increasing mainly because of pollutants from land, the Marine Pollution Prevention Authority (MPPA) has warned.MPPA chairman Ranjith Kularatne said most people were not aware that 90 percent of the pollution of the island’s waters came from activity on land. These include pollutants […]
Lease Rating
Nov 17, 2008 (LBO) – Fitch Ratings Lanka has confirmed People’s Leasing Company (PLC) national long-term rating at ‘A-(lka)’ with a stable outlook, but warned its aggressive loan growth was a concern. It also confirmed the ‘BBB+’ rating on PLC’s proposed unsecured subordinated debenture issue of up to a billion rupees, and the ‘F1’ short-term […]
Bank Trends
Nov 17, 2008 (LBO) – Sri Lanka Commercial Bank group net profit for the September quarter rose 6.81 percent to 937.5 million rupees from a year ago although loan growth was slowing, interest margins were eroding and bad loans increasing. Total group income for the quarter rose almost 19 percent to 11.2 billion rupees, according […]
Slim Gains
Nov 17, 2008 (LBO) – Sri Lanka’s Pan Asia Bank Corporation said net profit for the September quarter grew 14 percent to 46 million rupees, with tax costs shooting up and foreign exchange gains falling. Revenues for the September quarter had increased by 32 percent or 200 million to 816 million rupees. Interest expenses for […]
Sri Lanka blue chip gains nudge indices up
Nov 17, 2008 (LBO) – Sri Lankan shares ended barely changed Monday with gains in blue chips lifting the indices and transactions in John Keells Holdings (JKH), whose buy-back offer ends tomorrow, boosting turnover, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share […]
Sri Lanka stocks open higher; rupee flat amid intervention
Nov 17, 2008 (LBO) – Sri Lanka stocks opened up 0.89 percent amid thin turnover following a slew of poor earnings over the past week, and the rupee was flat against the greenback at 110.0 amid intervention, dealers said. The Colombo All Share Index was up 16.0 points and the Milanka index of liquid stocks […]
Sri Lanka detained journalist says threatened daily; quizzed in court over writing
Nov 16, 2008 (LBO) – A Sri Lankan journalist who had been detained for over eight months had been questioned about what he wrote, and had also revealed to court that he had been repeatedly threatened, a media report said. Tissainayagam had told court on May 9 after he had seen another arrested colleague being […]