Author: lbostgadmin
Agri Tour
Nov 06, 2007 (LBO) – Sri Lanka’s Hatton National Bank is sending local farmers to India to study agricultural practices and learn new techniques, officials said. The farmers, who are customers of 12 HNB branches hail from agricultural centres like Dambulla, Trincomalee, Vavuniya, Tissamaharama, Gampaha and Nuwara Eliya. “This is to encourage farmers to be […]
Central Rating
Nov 06, 2007 (LBO) – Fitch Ratings Lanka has confirmed Central Finance Company’s (CF) long-term rating of ‘A+ (lka)’ with a ‘stable’ outlook. CF has a 20 percent interest in Nations Trust Bank (‘A (lka)’), a licensed commercial bank. “CF’s rating factors in its strong financial profile and its dominant market position as the second-largest […]
Top Dog
SHANGHAI, Nov 5, 2007 (AFP) – PetroChina became the world’s largest company by market value Monday, worth nearly one trillion dollars — double the value of ExxonMobil — as its shares surged in their debut on the Chinese mainland. The milestone underlined the ongoing boom on Chinese markets, which have been flooded with ready cash […]
‘s top bank Citigroup names new chief
WASHINGTON, Nov 4, 2007 (AFP) – The world’s biggest bank Citigroup named ex-US Treasury chief Robert Rubin as its new chairman Sunday, replacing Charles Prince who retired as it posted massive losses from the subprime mortgage crisis. “It is my judgment that given the size of the recent losses in our mortgage-backed securities business, the […]
Open Sesame
Nov 05, 2007 (LBO) – Sri Lanka’s teleco operators are pushing the industry regulator to remove technology limits and allow networks to share resources as part of a broad plan to liberalise the market further, officials said.The wish list — prepared during an industry pow-wow with the telecom watchdog last week — also includes prickly […]
Under Pressure
Nov 05, 2007 (LBO) – Fitch Ratings says Sri Lanka’s finance companies are coming under stress from the current high interest rates and inflation, which increases risks especially in smaller finance companies. Updated/corrected, bailout numbers While most finance companies are well capitalized compared to their risk assets, 12 smaller firms out of 31 do not […]
High Growth
Nov 05, 2007 (LBO) – Lanka Orix Leasing Company (LOLC) has grown 40.3 percent in the year to March 31 2007 compared to the rest of the industry which grew at 16 percent, Fitch Ratings said, confirming the firm’s ‘A(lka)’ rating. However Fitch said bad loans were rising and asked the leasing firm to “aggressively […]
Sri Lanka braced for more war after top Tiger killed
Nov 4, 2007 (AFP) – The killing of a top Tamil Tiger rebel in a Sri Lankan government air raid is likely to strengthen hawks on both sides of the bitter ethnic divide and herald more violence on the troubled island, analysts say.The already dim hopes of salvaging a moribund peace process took another blow […]
Sri Lanka tightens security ahead of Tamil Tiger funeral
Nov 4, 2007 (AFP) – Sri Lankan security forces on Sunday increased already tight security ahead of a funeral planned in rebel territory for a top Tamil Tiger leader killed in a air strike, officials said. Checks at all entry points into Colombo were intensified and snap road blocks set up within the city of […]
Sri Lanka tightens security as Tigers vow war
Nov 4, 2007 (AFP) – Sri Lankan security forces stepped up patrols and roadblocks Sunday, fearing reprisals after the death of a top Tamil Tiger leader in a government air strike. They boosted their presence in and around the capital Colombo as the Tigers’ overall leader vowed to step up the long and bloody battle […]
Sri Lanka beaten by Queensland in tour match
BRISBANE, Australia, Nov 4, 2007 (AFP) – Queensland staved off a Sri Lankan pace onslaught to hold on for a four-wicket victory on the final day of their three-day tour match at Allan Border Field here Sunday.In-form Noffke had match figures of 8-57 while Test squad member Mitchell Johnson had a quiet game ahead of […]
” not deemed torture
WASHINGTON, Nov 3, 2007 (AFP) – Six years after the September 11 attacks and despite the Abu Ghraib prison scandal, the United States insists its war on terrorism justifies extreme forms of interrogation, including “waterboarding,” and rejects any talk of torture.During a Senate confirmation hearing earlier this month, attorney general nominee Michael Mukasey refused to […]