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Bolivia leader — an ex-child worker — opposes child labor age
LA PAZ, December 23, 2013 (AFP) – President Evo Morales said Monday he opposed any outright ban on child labor or setting a minimum age for workers in Bolivia — as a former child worker, himself.Despite recent declines in the worldwide incidence of child labor, much more must be done to tackle the issue, the […]
Sri Lanka stocks end weaker
Dec 23, 2013 (LBO) – Sri Lanka stocks close in the red Monday with tobacco and diversified stocks falling, brokers said. Lanka Orix Leasing Company closed flat at 72.80 rupees and Aitken Spence closed 4.90 rupees higher at 100.00 rupees. Aitken Spence Hotel Holdings closed flat at 65.20 rupees and Asian Hotels and Properties closed […]
Grave Discovery
COLOMBO, December 22, 2013 (AFP) – An unmarked mass grave has been found in Sri Lanka’s former war zone, the first discovery of an unmarked gravesite since troops defeated Tamil rebels more than four years ago, police said Sunday. The insurgency by the mainly Sinhalese JVP was unrelated to the separatist campaign in the north […]
Hafeez all-round acts help Pakistan beat Sri Lanka
SHARJAH, December 22, 2013 (AFP) – Mohammad Hafeez demonstrated his all-round skills to guide Pakistan to a convincing 113-run win over Sri Lanka in the third day-night international on Sunday.The 33-year-old right-hander smashed a career best unbeaten 140 to steer Pakistan to an imperious 326-5 before Hafeez the bowler took 2-35 to dismiss Sri Lanka […]
Sri Lanka US$74mn water supply system deal to US firm
Dec 23, 2013 (LBO) – Tetra Tech Inc, a US based firm said it had won a 74 million US dollar contract from Sri Lanka to build a water supply and treatment plant. The US Export-Import Bank has received renewed impetus under Obama administration’s export drive. The US Export-Import Bank is financing the deal. Tetra […]
Sri Lanka IMF rep gets warm send-off
Dec 23, 2013 (LBO) – Sri Lanka’s resident representative from the International Monetary Fund, Koshy Mathai got a warm send off from authorities in the island at the end of four years and the first completed program in the island’s history.“We had a good program, we had a very interesting outcome and after that we […]
Sri Lanka stocks close weaker
Dec 20, 2013 (LBO) – Sri Lanka stocks close down Friday with diversified and insurance sector stocks falling, brokers said. Aitken Spence Hotel Holdings closed 1.70 rupees lower at 65.20 rupees and Asian Hotels and Properties closed 60 cents higher at 64.00 rupees. DFCC closed 2.00 rupees higher at 128.00 rupees and NDB closed flat […]
Sri Lanka will have to reverse de-liberalization for growth: Razeen Sally
Dec 20, 2013 (LBO) – Sri Lanka will have to reverse a recent trend of de-liberalization to spur growth to high levels and work towards greater macro-stability, which has been a chronic problem, a top international economist said. Protection for domestic business drives capital and factors of production towards inefficient tax arbitraging rent seeking businesses […]
LBR LBO Debrief – “Economic Outlook 2014” – 19th December 2013
Topic: A concise overview of what one can expect in global economy, key economies and in Sri Lankan economy. Date/Time: Tuesday, 19th December 2013 | 0900 – 1300 HRS Venue: Oak Room, Cinnamon Grand Host: Lakshaman Bandaranayake | Founding Publisher, Director | Lanka Business Online Inquiries: Lakshaman Bandaranayake | lakshaman@lbo.lk | General | debrief@lbo.lk Registration fee: Rs […]
” rating confirmed
Dec 19, 2013 (LBO) – Fitch Ratings has confirmed a ‘AAA(lka)’ rating of Distilleries Company of Sri Lanka with a stable outlook. Fitch said it had a strong market share of 60 percent for local alcohol production but was vulnerable to illicit products amid tax hikes. Potential debt funded acquisitions change the group’s risk profile. […]
Sri Lanka stocks close 0.9-pct higher
Dec 19, 2013 (LBO) – Sri Lanka stocks close up 0.9 percent Thursday with tobacco and diversified firms gaining, brokers said. Sri Lanka Telecom closed 30 cents higher at 37.00 rupees and Lanka Orix Leasing Company closed 80 cents lower at 75.50 rupees. NDB closed 3.50 rupees higher at 160.00 rupees and DFCC also closed […]
Lowered
Dec 19, 2013 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Union Bank of Colombo Plc by one notch to ‘BB(lka)’ on rising non-performing loans. The outlook was revised to stable from negative at the lower rating. “The downgrade reflects the deterioration in UB’s credit profile, in terms of its asset quality and capitalisation,” the […]