Author: lbostgadmin
Slippery Future
July 25, 2008 (LBO) – Fitch Ratings said the future of the bunkering business of Sri Lanka’s John Keells Holdings was uncertain after a court ordered the return of land which held a tank farm, but said its ‘AAA(lka)’ rating was unchanged.Fitch Ratings said the firm may be able to either re-negotiate access to the […]
Sri Lanka stocks fail to sustain recovery
July 25, 2008 (LBO) – Sri Lankan stocks slumped Friday after a short-lived recovery with brokers saying fears that deteriorating economic conditions could erode company profits were likely to keep the market in the doldrums. The All Share Price Index closed down 0.58 percent (13.73 points) at 2,370.10 while the more liquid Milanka fell 1.19 […]
Sri Lanka marks 25 years since deadly riots
July 24, 2008 (AFP) – Sri Lanka will on Friday mark a quarter of a century since the country’s worst ethnic riots claimed scores of lives, but 25 years on there is little prospect of peace on the island.In July 1983, the country — where ongoing fighting in a civil war between Tamil rebels and […]
Probe raises concerns over Olympic drug test – BBC
LONDON, July 24, 2008 (AFP) – Major doubts have been raised over a key doping test just weeks before the Beijing Olympics, according to a BBC probe released on Monday – sparking fears that cheats are going undetected. The investigation found that World Anti-Doping Agency (WADA) laboratories are classing positive tests for the blood-boosting drug […]
Sri Lanka boosted by Warnapura, Jayawardene
July 24, 2008 (AFP) – Malinda Warnapura completed an impressive century to help Sri Lanka reach 205-2 in their first innings at lunch on the second day of the opening Test against India here on Thursday.The left-handed opener reached his second Test hundred in five matches when he cut fast bowler Ishant Sharma for his […]
Sri Lanka on top as Jayawardene emulates Bradman
July 24, 2008 (AFP) – Mahela Jayawardene equalled former Australian legend Don Bradman’s record of nine centuries at one venue to put Sri Lanka in a commanding position in the opening Test against India here on Thursday. Skipper Jayawardene cracked a stylish 136 to help his side post 422-4 in the first innings at stumps […]
Oil tumbles to US$124 a barrel after Plosser hints at rate hike
NEW YORK, July 23, 2008 (AFP) – Oil prices tumbled Wednesday as supply concerns eased after a bigger-than-expected increase in gasoline reserves was reported in the United States.The threat to supply from Hurricane Dolly in the Gulf of Mexico diminished as the storm veered away from offshore oil installations. New York’s main contract, light sweet […]
Japanese business chief calls for change of government
TOKYO, July 23, 2008 (AFP) – One of Japan’s top business leaders called Wednesday for a change of government to shake up Asia’s largest economy, which faces major challenges from a shrinking population. Democracy is still “immature” in Japan, where the Liberal Democratic Party has ruled almost continuously since it was created in 1955, said […]
Vietnam inflation hits 27 percent, trade gap widens
HANOI, July 24, 2008 (AFP) – Vietnam’s annual inflation rate hit 27 percent in July, the government said Thursday, as rocketing food and fuel costs saddle its economy with one of Asia’s toughest battles against rising prices. The figure was only a little higher than June’s 26.8 percent, but the government’s decision earlier this week […]
India mobile phone giant Bharti Q1 profit up 34 percent
MUMBAI, July 24, 2008 (AFP) – India’s top mobile phone company, Bharti Airtel, said its first-quarter net profit increased by a better-than-expected 34 percent, as subscriptions rose in the world’s fastest-growing wireless market.Net profit for the three months to June was 20.25 billion rupees (470 million dollars) from 15.12 billion rupees for the same period […]
Sri Lanka approves Indian power cable link
July 24, 2008 (LBO) – Sri Lanka’s cabinet of ministers has approved a proposal to link Southern India and Sri Lanka through a submarine power cable, a senior minister said.The high voltage direct current link cable was proposed by Power Grid Corporation of India to link Dhanushkodi with Talaimannar in north western Sri Lanka. The […]
Sri Lanka A&E unit in new deal with apparel industry
July 24, 2008 (LBO) – American & Efird Lanka (Pvt) Ltd. has secured a deal to be the preferred sewing thread supplier to Sri Lanka’s apparel industry for the third year running, a company statement said. A&E (Lanka) commands a large share of the Sri Lankan market for sewing thread. The company has signed a […]