Author: lbostgadmin
Sri Lanka syndicated loan hopefuls talk joint deal
Feb 28, 2008 (LBO) – Five foreign banks who bid to syndicate a 300 million US dollar loan for Sri Lanka are discussing an alternative deal to club together and find the money, bankers said. . Sri Lanka’s central bank, which manages the island’s public debt office, invited foreign banks to arrange a 5-year dollar […]
Sri Lanka rupee reasonably stable: CB governor
Feb 27, 2008 (LBO) – The Sri Lanka rupee has been “reasonably stable”, Central Bank Governor Nivard Cabraal said, as the currency held rock-steady against the US dollar amid tight monetary policy. “The rupee has been made reasonably stable,” governor Cabraal told a gathering of bankers at a micro finance seminar in Colombo Wednesday. “It […]
Smooth Premium
Feb 27, 2008 (LBO) – Chevron Lubricants Lanka said net profit for the year to December 2007 increased 34 percent to top a billion rupees, with premium brands bringing in better margins. Chevron Lubricants Lanka, formerly known as Caltex, once had a monopoly of the local market but its dominance has been challenged by new […]
Dhoni says Sharma was provoked by Symonds
HOBART, Australia, Feb 26, 2008 (AFP) – Indian captain Mahendra Singh Dhoni on Tuesday accused Australia’s Andrew Symonds of provoking young paceman Ishant Sharma in their tri-series clash at the SCG.However, Dhoni conceded that wasn’t necessarily the case, saying: “Cricket can never be friendly. There will always be aggression on the field but as long […]
Google stock price sinks on Internet ad-slump fears
SAN FRANCISCO, Feb 26, 2008 (AFP) – Google’s stock price sank Tuesday in the wake of a report hinting that boom times may be over for the Internet darling’s money-making online advertising. The number of click ads in January was essentially the same as it was in the same month a year earlier, and dipped […]
China raises 2008 inflation target to 4.8 percent: report
BEIJING, Feb 27, 2008 (AFP) – China has raised its inflation target for 2008 to 4.8 percent due to steeper-than-expected price rises last year and the impact of the worst winter in 50 years, state media said Wednesday. Inflation is a key concern for the political leadership, and the central bank has warned it may […]
Singapore dollar allowed to appreciate to counter inflation
SINGAPORE, Feb 27, 2008 (AFP) – The Singapore dollar climbed on Wednesday to a fresh 11-year high against the US dollar which also slid against other regional currencies following weak US economic data, dealers said.Details of the trading band are not made public to prevent speculation in the Singapore dollar. They said Asian currencies gained […]
Dollar dives to record euro low; oil and gold score record highs
LONDON, Feb 27, 2008 (AFP) – The dollar plunged Wednesday to another record euro low thanks to a stream of negative US data, while the tumbling greenback helped crude oil and gold prices hit historic highs, analysts said. The US currency also slid ahead of US Federal Reserve chief Ben Bernanke’s testimony before Congress later […]
Net TV
Feb 27, 2008 (LBO) – Sri Lanka Telecom, the island’s dominant fixed line operator, Wednesday announced it had set up a subsidiary to provide internet television programmes with a planned investment of 100 million rupees. The fully-owned subsidiary called SLT Visioncom would provide internet-based television services to its broadband customers, the company said in a […]
Wary Steps
Feb 27, 2008 (LBO) – The sub-prime loan default crisis in the United States has underlined the value of traditional risk management practices, but countries like Sri Lanka may be at the receiving end, a top banker said. International markets had suddenly turned cautious, with lenders distrusting balance sheets. “It is not a question of […]
Sri Lanka share trading zooms over Rs 1 bln on telecom, banking deals
Feb 27, 2008 (LBO) – Trading in Sri Lanka’s share market went over a billion rupees Wednesday following deals in telecom and bank shares which helped the market end marginally higher. The All Share Index climbed 6.5 points to end at 2,534.19 while the Milanka Index closed 13.07 points higher at 3,202.12. Turnover reached 1.16 […]
Sri Lanka to release new currency notes
Feb 27, 2008 (LBO) – Sri Lanka will release new currency notes under the signature of president Mahinda Rajapaksa, who is also the finance minister, and governor Nivard Cabraal, the Central Bank said. This week the central bank invited ideas for a new series of notes. A 1,000 rupee note with the new signature will […]