Author: lbostgadmin
Tele Numbers II
May 9, 2007 (LBO) – Sri Lanka Telecom, the country’s largest fixed access operator saw after tax profits growing by 53 percent to 1.98 billion in the March quarter, on the eve of a possible shareholder and management change. Revenue grew 14 percent to 10.9 billion rupees in the quarter, according to accounts filed with […]
Still Trying
May 09, 2007 (LBO) — Nippon Telegraph and Telephone, Japan’s largest phone company, said Wednesday it has still not sold its flagship investment in Sri Lanka to the owner of Malaysia’s biggest mobile operator.SLT also controls 16 percent of the country’s cellular market through its mobile phone subsidiary. “It is not a fact that we […]
Splitting Hairs
May 9, 2007 (LBO) – Firms that declared a ‘bonus’ issue but have not yet ratified it with a shareholder vote will have to go through a process under the new company law and ‘split’ the shares, officials and legal experts said. A new company law came into effect in Sri Lanka on May 03, […]
Corrupt Stories
May 09, 2007 (LBO) – The quality of corporate financial analysis in Sri Lanka is poor and the financial media is believed to be corrupt, a top business executive said Tuesday. Jayaratne said that it was a change in values and attitudes that was required, more than mere compliance with rules. Chandra Jayaratne, a former […]
Travel Delays
COLOMBO, May 9, 2007 (AFP) – Thousands of passengers face travel delays and disruptions starting Thursday, when Sri Lanka’s only international airport closes to night traffic after a series of daring air raids by guerrilla rebels. Travel agents said several major airlines had yet to finalise their new schedules, leaving many travellers scrambling for flights […]
Sri Lanka Central Bank says coins a plenty
May 8, 2007 (LBO) – Sri Lanka’s central bank says there is no ‘shortage’ of coins in the country, and a campaign to bring back coins into circulation has been mis-understood by the public. Authorities started a campaign to persuade children to break their piggy banks and exchange coins for notes and a 20 percent […]
Sri Lanka shrugs off British aid freeze
May 7, 2007 (AFP) – Sri Lanka Monday shrugged off Britain’s suspension of debt relief to the island, saying the amount of money was “too insignificant” to worry about. Foreign Minister Rohitha Bogollagama declined to discuss the move to stop nearly three million dollars in aid, but said it was “wrong” for London to hold […]
Sri Lanka anti-inflation fight mired in excess liquidity
May 8, 2007 (LBO) Sri Lanka’s fight against inflation has received a set-back with monetary authorities unable to sterilize excess liquidity in the banking system which is now reaching towards one percent of gross domestic product.Excess liquidity in the banking system reached 22 billion rupees, reminiscent of the ‘bad old days’ of 2004 and 2006 […]
Sri Lanka troops kill suspected Tiger suicide bomber
May 8, 2007 (AFP) – Sri Lankan troops shot dead a suspected Tamil Tiger suicide bomber in the north of the island on Tuesday as ground battles raged elsewhere in the region, a military official said.Security forces killed the man who was riding a motorcycle in Vavuniya district. An official, speaking from the area by […]
US raises concern at Sri Lanka rights abuses
May 8, 2007 (AFP) – The United States is to raise concerns about human rights in Sri Lanka during a state visit that follows international concern over extra-judicial killings, diplomats said Tuesday.US Assistant Secretary of State Richard Boucher, who was due to arrive later Tuesday, will hold talks with President Mahinda Rajapakse, addressing the island’s […]
Gilchrist ploy a storm in a glove, says CA
SYDNEY, May 8, 2007 (AFP) – Australian cricket officials Tuesday dismissed Sri Lankan claims that Adam Gilchrist’s use of a squash ball as a batting aid in last month’s World Cup final was unfair.Team vice captain Gilchrist, whose record-breaking 149 led Australia to their fourth title in the Caribbean, said he used the squash ball […]
Ganguly absence irks Bangladesh fans
DHAKA, May 8, 2007 (AFP) – The mystery of the missing Sourav Ganguly has baffled not only Indian fans but also millions of his supporters across the border in Bangladesh. The former India captain and senior pro Sachin Tendulkar were left out of the one-day series starting here on Thursday, with the selectors insisting the […]