Author: lbostgadmin
Arrested
KUALA LUMPUR, May 25, 2014 (AFP) – Three men suspected of being Tamil Tigers have been arrested in Malaysia, a top police official said Sunday, accusing them of attempting to revive the Sri Lankan separatist group. Khalid Abu Bakar, inspector-general of police, said the trio, who had been in Malaysia since 2004, were arrested in […]
‘s data which could be used to expand ruler powers over people flawed: report
LONDON, May 24, 2014 (AFP) – French economist Thomas Piketty’s best-selling book on income inequality is flawed by errors in his data, the Financial Times newspaper said Saturday.An investigation by the British broadsheet found there was little evidence in the 43-year-old’s original sources to underpin his argument that an increasing share of total wealth is […]
Sri Lanka EPF running out of cash as workers age: legislator
May 24, 2014 (LBO) – Sri Lanka’s Employee’s Provident Fund is running out of new cash to repay beneficiaries as the private sector population age rapidly but attempts by the state to deny withdrawals at maturity will be resisted, a legislator said.Withdrawals were 48.7 billion rupees in 2012 and 50.2 billion rupees and the cash […]
Sri Lanka elephants migrate from Canada to US
WASHINGTON, May 24, 2014 (AFP) – Three female Asian elephants took up residence at the Smithsonian’s National Zoo in Washington on Friday after a 2,500-mile (4,000-kilometer) road trip from western Canada.Now in quarantine for 30 days as they adapt to their new surroundings, the immigrant pachyderms can be seen on the National Zoo’s “elephant cam” […]
Jordan leads England to victory over Sri Lanka
LONDON, May 22, 2014 (AFP) – Chris Jordan starred with both bat and ball as England set off on the road to next year’s World Cup with a an 81-run win over Sri Lanka in a rain-marred one-day international at The Oval on Thursday.The Sussex all-rounder’s belligerent 38 not out off just 13 balls propelled […]
Legal Battle
May 22 (AFP) A British tourist thrown out of Sri Lanka for sporting a Buddha tattoo is suing local authorities for $78,000 over her ordeal, which allegedly included sexual harassment, her lawyer said Thursday. Naomi Coleman filed the action in the Supreme Court in Colombo on Wednesday seeking 10 million rupees ($78,000) in compensation from […]
Credit Positive
May 23, 2014 (LBO) – A credit guarantee scheme announced by Sri Lanka for banks lending against gold is positive for banks which have been hit by defaults, Moody’s, a rating agency said.Moody’s said underwriting standards fell in Sri Lanka after 2009 and banks were advancing as much as 80 to 95 percent of loan-to-values […]
Sri Lanka stocks close lower
May 23, 2014 (LBO) – Sri Lanka’s stocks closed 0.16 percent lower with tobacco stocks losing ground despite foreign buying, brokers said. Indo-Malay closed 150.00 rupees lower at 1,700.00 rupees and Shalimar (Malay) closed 98.00 rupees lower at 1,600.00 rupees. Asian Hotels and Properties closed 2.30 rupees lower at 70.00 rupees and Trans Asia Hotels […]
Kotagala Plantations raise one billion rupees from Sri Lanka listed debt
May 23, 2014 (LBO) – Sri Lanka’s Kotagala Plantations Plc said it had received orders of over a billion rupees for a stock exchange listed debenture offer. The firm planned to use 250 million rupees to repay an 18 percent term loan, 400 million rupees to settle an overdraft at 15.5 percent and 50 million […]
Teenager test case in Maldives death penalty revival
MALÉ, May 22, 2014 (AFP) – A 16-year-old boy has been charged with murder over a fatal stabbing in the Maldives, becoming the first minor to be accused of a capital offence since the death penalty was reintroduced, officials said.The unnamed teenager is accused of stabbing a 21-year-old man to death in December in a […]
Lending Plan
May 22, 2014 (LBO) – Fitch Ratings which confirmed an ‘AA-(lka)’ rating of Hatton National Bank, Sri Lanka’s fourth largest commercial lender by assets said the it had boosted loans to larger firms.“HNB’s loan book is shifting towards larger, mid-sized corporates from its previous focus on retail and SME sectors, which, while adding to diversification, […]
Finance Rating
May 22, 2014 (LBO) – Fitch has confirmed a ‘A+(lka)’ rating of Sri Lanka’s Melsta Regal Finance based on expected support from its parent, ‘AAA(lka)’ rated Distilleries Company of Sri Lanka. MRF has expanded quickly since it started commercial operations in October 2012 as part of DIST group and Fitch expects that it will continue […]