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Malaysia, Nigeria put Indian hopes in shade
NEW DELHI, October 4, 2010 (AFP) – India’s highly-rated Commonwealth Games weightlifting squad were shoved into the shadows on Monday when their gold medal hopes were shattered by an ex-drugs cheat and a Nigerian schoolgirl. Malaysian veteran Amirul Hamizan Ibrahim, whose career was interrupted by a two-year doping suspension in 2005, regained his 56kg title […]
Gas Grin
Oct 05, 2010 (LBO) – Sri Lankan liquid petroleum gas supplier Laugfs Gas is seeking to raise 2. 5 billion rupees in an initial public offer opening on November 04, 2010, a stock exchange filing said. Laugfs Gas will offer for subscription 75 million ordinary voting shares at 23 rupees a share, to raise 1,725 […]
Sri Lanka business caught napping by war-end: senior banker
Oct 05, 2010 (LBO ) – Sri Lanka’s large enterprises were caught napping by the end of a 30-year war, and smaller firms which required less planning were first off the mark, a senior banker has said. The central bank had said that by July 2010 loans from commercial banks to the private sector rose […]
Sri Lanka Telecom looks to raise US$125mn
Oct 04, 2010 (LBO) – Sri Lanka Telecom, the island’s largest fixed access operator, may raise 125 million US dollars from bonds to fund expansion if the terms are right, as business conditions in the island improve, an official said. “We want to raise 125 million US dollars,” SLT’s chief financial officer Shiron Gooneratne said. […]
” rating from RAM
Oct 04, 2010 (LBO) – Sri Lanka’s Lankem Ceylon, a strong player in the island’s agro chemicals market has been given a long term rating ‘A-‘ by RAM Ratings Lanka with a stable outlook. “The ratings reflect stable demand for agrochemicals and dominant market positions in most business lines; however the ratings are pressured by […]
Sri Lankan stocks close down 0.80-pct
Oct 04, 2010 (LBO) – Sri Lankan shares closed down on Monday, pulled down by falls in index heavy stocks, while big stakes of Hatton National Bank (HNB) changed hands in private deals pushing turnover over 12 billion rupees, brokers said. John Keells Holdings, an index heavy conglomerate closed at 349.00 rupees, down 5.50. The […]
Risky Ventures
Oct 04, 2010 (LBO) – Sri Lankans investing in unregulated investment schemes face higher risks and should not expect government bailouts if their investments go sour, the banking regulator has warned. Central bank governor Nivard Cabraal said the regulator has repeatedly warned the public of the risk of investing money in unregulated institutions and publicised […]
Tele Trends
Oct 04, 2010 (LBO) – Sri Lanka’s mobile subscribers grew 25.4 percent to 15.86 million in the second quarter of 2010 from a year earlier and a wireline contraction has bottomed out, official data shows. At the end of the second quarter of 2010 Sri Lanka had 15.86 million mobile users up from 11.49 million […]
Tele Bid
Oct 04, 2010 (LBO) – India’s Tata Communications had put in a bid for Sri Lanka’s Suntel, a unit of Sweden’s Telia which runs a fixed access wireless network in the island, a media report said. India’s Economic Times said, Tata Communications Ltd (TCL) formerly a state-run firm in which the government still owns 26 […]
Sri Lankan firms offered carbon emission reduction service
Oct 04, 2010 (LBO) – Reducing carbon emissions can give Sri Lankan businesses a competitive advantage, according to officials of a new company offering carbon reduction services. Carbon Consulting Company (CCC) has been appointed as an approved reseller of The CarbonNeutral Company’s services, including carbon offsets and certification. We can no longer depend on trade […]
Sri Lanka told to speed up paper work for trade with India
Oct 04, 2010 (LBO) – Early issue of export documentation by Sri Lankan authorities could help reduce delays in clearing goods shipped to India under a free trade deal, trade experts and economists told a forum. The Indo-Lanka free trade agreement (FTA) has eliminated or reduced import duties, improving market access for businesses in both […]
Sri Lanka ex-army chief vows to fight from jail
October 4, 2010 (AFP) – Sri Lanka’s jailed ex-military chief and opposition leader Sarath Fonseka vowed to fight for democracy as he was escorted out of prison Monday to attend another court case against him. Fonseka, 59, told supporters outside the Colombo High Court that he was prepared to sacrifice his life and will not […]