Category:
Sri Lankan shares close up 0.97-pct
July 14, 2010 (LBO) – Sri Lanka stocks closed up Wednesday as investors re-entered the market looking for bargains, while ‘penny’ stocks continued to be actively traded despite wide price fluctuations, brokers said. Seylan Merchant Bank closed at 1.70 rupees, down 10 cents with over 11 million shares traded, while Piramal Glass of Ceylon closed […]
Floor Plan
July 14, 2010 (LBO) – Sri Lanka’s telecom regulator is enforcing floor prices and interconnection rates for mobile phones from July 15, ending a price war that has put the industry deep in the red, though concerns remain. Sri Lanka had a ‘sender keep all’ regime for mobiles where all the revenue could be kept […]
‘s double-digit inflation inches higher
NEW DELHI, July 14, 2010 (AFP) – India’s double-digit inflation edged higher in June, touching an annual rate of 10. 55 percent, official data showed Wednesday, stoking pressure for another interest rate hike this month. April’s inflation reading was revised higher to 11.23 percent — a 19-month peak, the data showed. But the central bank […]
India says Pakistan intel oversaw Mumbai attacks: report
NEW DELHI, July 14, 2010 (AFP) – India has accused Pakistani intelligence services of overseeing the 2008 militant attacks on Mumbai, a report said Wednesday ahead of a major meeting between the rival nations. Home Secretary G. K. Pillai told the Indian Express newspaper that the level of involvement of Pakistan’s Inter-Services Intelligence (ISI) had […]
” awaits appeal verdict in Nepal
KATHMANDU, July 13, 2010 (AFP) – Nepal’s Supreme Court is set to rule Wednesday on an appeal by a Frenchman linked to a series of grisly backpacker killings across Asia in the 1970s who is contesting his murder conviction. Charles Sobhraj, a balding 65-year-old dubbed the “Bikini Killer,” could walk free if the court overturns […]
Sri Lanka- British business expect post-war expansion
July 14, 2010 (LBO) – The Council for Business with Britain (CBB) made up of firms doing business with the UK is expecting more business volumes between the two countries with the end of a three decade long war. “As patron of the CBB, I am pleased to support this group in their on-going efforts […]
Sri Lankan cabinet meets in former Tiger capital
KILINOCHCHI, July 14, 2010 (AFP) – The president of Sri Lanka held a cabinet meeting on Wednesday in the northern town of Kilinochchi, the capital of the Tamil Tigers rebels until they were finally defeated last year. Rajapakse’s military offensive triggered international calls for a war crimes probe. The separatist guerrillas controlled one-third of Sri […]
IMF to hire more Asians
Daejeon, KOREA July 14, 2010 (LBO) – The International Monetary Fund (IMF) plans to hire more Asians as it undergoes reforms and seeks to improve relations with Asia which is increasing its economic clout, a senior official said. Strauss-Kahn said that now 40 percent of his management team is from Asia. “So among the management […]
Sri Lankan stocks close up 0.48-pct
July 13, 2010 (LBO) – Sri Lankan shares closed up Tuesday as investor interest on midcap stocks pushed the market up, while high volume trading on John Keells Holdings (JKH) boosted turnover, brokers said. The All Share Price Index closed at 4,555.83, up 21.88 points, while the Milanka index of more liquid shares rose 0.63 […]
Credit Support
July 13, 2010 (LBO) – Sri Lanka’s finance companies which are facing liquidity shortages will get new credit under a central bank guarantee scheme with the first facility going to a firm this week, the regulator said. “Through the resumption and revival of their normal business, the RFCs are expected to be able to meet […]
Credit Trends
July 13, 2010 (LBO) – Sri Lanka’s loans to private borrowers rose by 7. 7 billion rupees in May 2010 but the state borrowed more than double that amount from commercial banks to support its deficit spending, official data showed. Excessive state borrowing that appropriates people’s savings at high rates has been the most important […]
New Charge
July 13, 2010 (AFP) – Sri Lankan police have filed a new case against former army chief and defeated presidential candidate Sarath Fonseka for allegedly employing military deserters, his party said Tuesday. Fonseka led the Sri Lankan army to a spectacular victory against Tamil Tiger rebels in May last year, ending the island’s 37-year separatist […]