Author: lbostgadmin
Banking Challenge
August 21, 2008 (LBO) – Hatton National Bank has staged a steady turnaround under the direction of its chief executive Rajendra Theagarajah. But with a weakening economy of high inflation and volatile interest rates, banks in general are under pressure.HNB is now looking at maintaining asset quality and increasing its exposure abroad as domestic loan […]
Fleet Plans
Aug 21, 2008 (LBO) – Sri Lanka’s Mercantile Shipping Company said it expects delivery of the first of two new cargo ships on order by the middle of next year as construction is slightly ahead of schedule.The company said it made good profits in the last financial year but that cash flow would be tight […]
Sri Lanka stocks stagnate, more trading in CIC
Aug 21, 2008 (LBO) – Sri Lankan stocks closed marginally weaker Thursday, the indices dragged down by falls in blue chips, with Chemical Industries (Colombo) again being heavily traded, brokers said.The All Share Price Index was virtually unchanged, just half a point down at 2,424.71 while the more liquid Milanka dropped 0.17 percent (4.82 points) […]
Sri Lanka central bank sells own securities to destroy money
Aug 20, 2008 (LBO) – Sri Lanka’s central bank said it is selling its own securities to remove money from the banking system, after running out of its Treasury bill stock in a bid to keep money supply growth low.But access to the window has been restricted, allowing market rates further up the yield curve […]
Sri Lanka seeks fisheries aid from Iceland
Aug 20, 2008 (LBO) – Sri Lanka has sought help from Iceland to develop its fisheries and geo-thermal resources and both countries plan to improve air travel links, the foreign affairs ministry said in a statement. The request for aid was made by Sri Lankan foreign minister Rohitha Bogollagama during a visit to Reykjavik earlier […]
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Aug 20, 2008 (LBO) – Sri Lanka’s Free Media Movement (FMM) said government charges against a journalist who has been detained for months were weak and an attempt to cow down the media by using anti-terrorist laws.It said in a statement that it had learnt that journalist J S Tissainayagam, who has been held in […]
Australia set to boycott Champions Trophy cricket
MELBOURNE, August 19, 2008 (AFP) – Despite the International Cricket Council (ICC) giving Champions Trophy security the all clear on Tuesday, players from the defending champions, Australia, are set to boycott the upcoming one-day tournament, Australian newspapers were reporting early Wednesday. The Champions Trophy is scheduled for September 12-28 in troubled Pakistan and ICC chief […]
Sri Lanka strike back in India one-dayer
DAMBULLA, August 20, 2008 (AFP) – Sri Lanka hit back with two quick wickets after posting a modest 142 in the second one-day international against India here on Wednesday.India lost makeshift opener Irfan Pathan (five) and Suresh Raina (one) before reaching 17-2 in reply at the break.Virat Kohli was unbeaten on seven and Yuvraj Singh […]
India level series with tense victory
DAMBULLA, August 20, 2008 (AFP) – Mahendra Singh Dhoni capped Zaheer Khan’s devastating spell with a crucial 39 as India posted a tense three-wicket win over Sri Lanka in the second one-day international here on Wednesday. Left-arm seamer Zaheer ran through the top order in his incisive opening spell to finish with 4-21 as India […]
Matsushita says new DNA technology identifies disease risks
TOKYO, August 20, 2008 (AFP) – Japan’s Matsushita Electric Industrial Co. said Wednesday that it had developed a new way of predicting from a person’s DNA their response to medication and risk of developing disease. Matsushita, which is best known for its Panasonic brand, said it had developed a technology to electronically identify sequence variations […]
”, Venezuela, spooks oil market to drive prices up
SINGAPORE, August 20, 2008 (AFP) – World oil prices rose in Asian trade Wednesday on fresh supply concerns after key producer Venezuela indicated it could ask OPEC to cut output, dealers said. In afternoon trade, New York’s main contract, light sweet crude for September delivery, rose 40 cents to 114.93 dollars a barrel. The contract […]
Sri Lankan Airlines in the black with aircraft sales
Aug 20, 2008 (LBO) – Sri Lanka’s national carrier SriLankan Airlines has posted a 4.8 billion rupee profit with capital gains from aircraft sales, in a year that it was hit by rising fuel costs and weak tourist arrivals to the island. The carrier had lost 6.1 billion rupees (57 million US dollars) on its […]