Category:
Rights Issue
Aug 02, 2010 (LBO) – People’s Leasing Finance Company wants to raise 568 million rupees via a one-to-one rights issue to meet capital adequacy requirements, a stock exchange filing said. The 22.7 million rights issue will be priced at 25 rupees per share, to raise 568 million rupees to boost the firm’s core capital. “The […]
Credit Trends
Aug 02, 2010 (LBO) – The number of credit cards issued by Sri Lanka’s banks picked up slightly in May 2010 from the previous month but total credit contracted as banks remained cautious, latest data showed. Total credit given through cards fell to 29.9 billion rupees in May 2010 from 30.2 billion in April 2010 […]
Business Guidance
Aug 02, 2010 (LBO) – Sri Lanka’s Lanka Orix Leasing Company (LOLC) and a micro financier attached to a charity are teaching relatives of foreign migrant workers to set up and run small income generating businesses. “People themselves hand carry or they send through their friends and family members,”Nanayakkara said. “So what happened is the […]
US, Russia, China, Israel stay out of cluster bomb treaty
GENEVA, August 1, 2010 (AFP) – A landmark international treaty to ban cluster munitions took effect on Sunday, requiring signatories to stop the use, production and transfer of the deadly weapons. Pope Benedict XVI hailed the ban and joined calls for all countries to sign up to the deal that also obliges those that have […]
Sri Lanka gets US help for business in former war zone
Aug 02, 2010 (LBO) – The United States aid agency has tied up with Sri Lankan businesses to set up clothing, construction and computing ventures that will create employment in the island’s north, a statement said. The US Agency for International Development (USAID) said US government support is expected to create 10,000 full-time jobs in […]
Credit Flow
LONDON, August 1, 2010 (AFP) – British banks must use first-half profits to boost lending to businesses, Chancellor of the Exchequer George Osborne said in an interview on Sunday, ahead of key results for the nation’s top lenders. “But the industry’s ability to support the economy needs to be considered as the increased capital and […]
Call Charges
Aug 01, 2010 (LBO) – Sri Lanka Telecom has changed its tariff plans for new ‘Citylink’ fixed wireless telephone connections with a rate of one rupee a minute for outgoing calls within its own network for prepaid subscribers. SLT said in a statement the charges for the CDMA (Code Division Multiple Access) fixed wireless telephone […]
Sri Lankan, Hawaiian sites added to world heritage list
BRASILIA, July 31, 2010 (AFP) – A region of mountainous forests in Sri Lanka and an isolated archipelago off Hawaii have been added to UNESCO’s World Heritage list, officials of the UN cultural and scientific body said Saturday. The World Heritage Committee of the United Nations Educational, Scientific and Cultural Organization decided to add the […]
Sri Lanka insurer to cover graduate study
Aug 01, 2010 (LBO) – Sri Lanka’s Chartis Insurance has tied up with an information technology school to cover degree study costs of students who lose support owing to the loss of their parent or guardian, officials said. In the event of accidental death or dismemberment affecting a parent or guardian, the student will receive […]
Sri Lanka travel warning removed by Britain
July 31, 2010 (LBO) – The British government has removed a travel warning on Sri Lanka advising against visits to the former northern war zone, following the withdrawal of previous travel warnings in the rest of the island. A British Foreign and Commonwealth Office (FCO) statement said it no longer advised against all travel to […]
Bangladesh police, garment workers clash for second day
DHAKA, July 31, 2010 (AFP) – Bangladeshi police fired rubber bullets Saturday in a bid to subdue garment workers who rioted for a second day in protest against low pay as unrest spread to areas outside Dhaka, police said. Workers fought pitched street battles with riot police in the manufacturing hub of Ashulia, north of […]
Sri Lanka gets more Emirates flights to Male
July 31, 2010 (LBO) – Emirates is to increase the frequency of flights between Sri Lanka and the Maldives to cater to increasing tourist traffic, a statement said. These flights will be served by Emirates’ Airbus A330-200 aircraft in a three-class configuration, with 12 seats in First Class, 42 seats in Business Class and 183 […]