Author: lbostgadmin
Oil prices at record of 109.20 dollars, Euro hit new high amid US money printing
LONDON, March 11, 2008 (AFP) – Oil prices struck a record high of 109.20 dollars per barrel on Tuesday after the dollar hit a fresh all-time low against the euro, traders said. The euro reached a record high of 1.5495 in European tradin. A weaker US currency increases demand for dollar-denominated oil as it becomes […]
Sri Lanka Union Assurance profit up amid price war
March 11, 2008 (LBO) – Sri Lanka’s Union Assurance group net profit for 2007 rose 63 percent to 254 million rupees from 156 million rupees the year before but the firm said it was concerned about price competition and high motor claims. General and life insurance premiums grew by 23 percent to five billon rupees […]
Sri Lankan Airlines passenger carriage hits new record
Mar 11, 2008 (LBO) – Sri Lankan Airlines had carried 3.2 million passengers in 2007, up 100,000 from the previous year making it the largest volume of passengers it had carried since its creation in 1979, the airline said. Sri Lankan says it has won an award for being the world’s most efficient operator of […]
New Day
March 11, 2008 (LBO) – Bharti Airtel Lanka, a subsidiary of India’s Bharti Airtel, said it had pushed back the launch of its mobile service in Sri Lanka to September this year from an original target of March. The firm Tuesday signed a deal with the investment promotion agency, Board of Investment, to spend half […]
Central Numbers
Mar 10, 2008 (LBO) – Sri Lanka’s Central Finance Company group’s December quarter profit went up ten percent to 336.2 million rupees but interest expenses rose 40 percent, interim results showed. . The group’s 2007 December quarter revenue was up 17.4 percent to 1.66 billion from 1.41 billion rupees one year back. Central Finance’s stand […]
Easy Fees
Mar 11, 2008 (LBO) – ACCA Sri Lanka, a branch of the UK accounting body says it has tied up with Nations Trust Bank to give an easy payment scheme for students to pay fees through American Express credit cards. ACCA says it is committed to bringing best practices and governance standards into Sri Lanka […]
Sea Link
March 11, 2008 (LBO) – A unit of Hemas conglomerate has got the Sri Lankan agency for Far Shipping Lines of Singapore which is looking at deploying bigger ships and increase services to Colombo port, an official said. Far Shipping Lines (FLS) currently operates four feeder services connecting the Indian sub-continent and Arabian Gulf with […]
Sri Lanka offers Rs5bn bonds to foreigners
March 11, 2008 (LBO) – Sri Lanka is selling three maturities of rupee bonds to foreign buyers valued at five billion rupees under a new process with bids closing on March 17, the government’s debt office said. Updated The Central Bank which runs the debt office said two billion rupees of bonds maturing on 2010, […]
Sri Lanka sells 3-year bonds at 17.05-pct
Mar 11, 2008 (LBO) – Sri Lanka has raised 400 million rupees from 3-year bonds at a average price of 17.05 percent, the government’s debt office said. The government offered one billion rupees of 2011A series bonds maturing on February 15, 2011 which carry a coupon rate of 14.5 percent at Tuesday’s auction. The debt […]
Sri Lanka foreign reserves move to US$3.2bn
Mar 10, 2008 (LBO) – Sri Lanka’s foreign reserves had increased to 3.4 billion dollars by March 06 with the monetary authority collecting 366 million dollars since the beginning of the year, the central bank said. The Central Bank had been heavily intervening in the inter-bank foreign exchange market in a bid to keep the […]
Sri Lanka blast in capital Colombo
Mar 10, 2008 (LBO) – A bomb had exploded in Wellawatte, a southern suburb of Sri Lanka’s capital Colombo during the morning rush hour Monday, killing at least one person, police said. The explosion came as residents in Sri Lanka’s East were preparing to go to regional polls. Updated Authorities said at least three persons […]
Bomb kills one, wounds six in Sri Lanka capital
March 10, 2008 (AFP) – A powerful bomb ripped through a commercial area of Sri Lanka’s capital during rush hour on Monday, killing at least one person and wounding six others, police said. The government casualty numbers and those given by the Tigers cannot be independently confirmed as Colombo bars journalists and rights groups from […]