Category:
‘s peace without justice
August 3, 2010 (AFP) – A group of global statesmen, founded by Nelson Mandela, Tuesday criticised the Sri Lankan government for failing to build on peace brought to the island by the end of the civil war last year. Sri Lankan President Mahinda Rajapakse has dismissed calls for an international probe into alleged war crimes […]
Sri Lanka stocks weaken
Aug 03, 2010 (LBO) – Sri Lankan stocks weakened Tuesday, interrupting a bull-run as the regulator suspended trading in several speculative shares that brokers said might hit market sentiment. The All Share Price Index closed at 5,148. 34 down 0.67 percent (34.51 points) while the more liquid Milanka index eased 0. 86 percent (50.87 points) […]
Risky Voyage
RIYADH, August 2, 2010 (AFP) – A Saudi insurance company is to pay Somali pirates a 20-million-dollar ransom to free a hijacked ship and its 14-member crew held hostage for five months, a newspaper reported on Monday. “The owner of the Al-Nisr Al-Saudi ship, which was hijacked by Somali pirates, said the insurance company has […]
Strong Profile
Aug 03, 2010 (LBO) – Fitch Ratings Lanka said it has confirmed National Development Bank’s (NDB) National Long-term rating at ‘AA(lka)’ with a stable outlook. The agency has also confirmed NDB’s subordinated debentures at ‘AA-(lka)’. “The ratings reflect NDB’s strong financial profile relative to its peers,” a statement said. “The ratings are however constrained by […]
Sri Lanka Aitken Spence June net up 50-pct
Aug 03, 2010 (LBO) – Sri Lanka’s Aitken Spence group net profit in the June 2010 quarter rose 50 percent to 440 million rupees from a year ago, a stock exchange filing said. “We have aggressive plans to strengthen our tourism interests in the island to position Sri Lanka as a high-end sustainable tourism destination, […]
Fashionable Results
Aug 03, 2010 (LBO) – Sri Lankan retailer Odel group’s June profits rose 187 percent to 37 million rupees from a year ago owing to better margins despite higher tax and operating costs, its interim results showed. Odel group’s June quarter sales were up 62 percent to 692 million rupees, while cost of sales had […]
Large gaps in Asia-Pacific development goals: UN
JAKARTA, August 3, 2010 (AFP) – South Asia is lagging behind the Asia-Pacific region in poverty and hunger reduction, and is in danger of missing these key targets in the UN’s millennium development goals, a UN official said Tuesday. Ministers from around the region gathered at a review of the millennium goals (MDGs) heard that […]
Sri Lanka May exports up 15% to $620mn, garments recover
Aug 03, 2010 (LBO) – Sri Lanka’s exports in May 2010 rose 15 percent to 620 million US dollars from a year ago, helped by industrial exports, mainly apparel, and tea, the central bank said. Exports of apparel, the island’s main industrial export, rose 11 percent to 263 million dollars in May 2010 from the […]
Sri Lankan war refugees remain homeless: Tamil party
August 2, 2010 (AFP) – Thousands of men, women and children displaced by Sri Lanka’s civil war are living in the open air 15 months after fighting ended, the island’s main Tamil political party said Monday. The Tamil National Alliance (TNA) said the government’s promise that the civilians would be allowed to return to their […]
Sri Lanka stocks up, blue chips in demand
Aug 02, 2010 (LBO) – Sri Lankan shares continued last week’s bull-run Monday, as investors continued to buy despite some strategic profit taking, while large private deals on selected blue chips boosted turnover, brokers said. The All Share Price Index closed at 5,178. 47, up 17.29 points, while the more liquid Milanka index gained 0. […]
Bank Numbers
Aug 02, 2010 (LBO) – Sri Lanka’s Commercial Bank net profit for the June 2010 quarter rose 7. 5 percent to 1.2 billion rupees from a year ago with a sharp fall in interest expenses, a stock exchange filing said. Total income was down 10 percent to 9. 9 billion rupees in the quarter, the […]
Bank Rating
Aug 02, 2010 (LBO) – Fitch Ratings Lanka said it has downgraded Commercial Bank’s National Long-term rating to ‘AA(lka)’ from ‘AA+(lka)’ and its individual rating to ‘D/E’ from ‘D’ with a stable outlook. The agency has also downgraded the rating on the bank’s subordinated debentures to ‘AA-(lka)’ from ‘AA(lka)’ and simultaneously confirmed its Support rating […]