Category:
Trading Technology
Oct 20, 2009 (LBO) – Sri lanka’s MillenniumIT software firm said its acquisition by the London Stock Exchange Group would help boost global sales of its trading technology business. Tony Weeresinghe, chief executive of MillenniumIT, said the deal would help the company expand into other markets and invest for the future. “We intend to leverage […]
Chinese ship seized as Somali piracy drifts East
NAIROBI, October 19, 2009 (AFP) – Somali pirates hijacked a Chinese bulk carrier Monday northeast of the Seychelles in the Indian Ocean, as the marauding sea bandits hunted their prey ever further from base to wrong-foot naval patrols.According to the European Union’s anti-piracy naval mission (EU NAVFOR), the unnamed ship was seized 550 nautical miles […]
Sri Lanka hydro power producer gets offer from US firm
Oct 20, 2009 (LBO) – Asia Energy Management Systems Inc., a US-based firm, said it has offered to buy 160million shares or a 21.4 percent stake in Vallibel Power Erathna at five rupees a share.Vallibel Power Erathna shares were up 10 cents at 4.60 rupees a share in early morning trade Tuesday with 5.5 million […]
Sri Lanka says to study EU report on trade deal
Oct 20, 2009 (LBO) – The Sri Lankan government said it will study a report by the European Union that said it was in breach of commitments on human rights that might cause it to lose a trade deal. The EC report said the Commission will now decide whether to propose a temporary withdrawal of […]
Sri Lanka threatened with loss of EU trade perks
BRUSSELS, October 19, 2009 (AFP) – Sri Lanka was threatened on Monday with losing preferential trading status with the European Union over human rights violations, the EU commission said Monday. A Sri Lankan foreign ministry statement said Colombo had blocked a team of experts from visiting “as a matter of principle”. The country’s textile industry […]
Sri Lanka post-war rebuilding to get ADB help
Oct 20, 2009 (LBO) – A senior Asian Development Bank (ADB) has visited Sri Lanka to discuss support for post-war reconstruction in the island, the bank said in a statement.ADB Director General South Asia Department Kunio Senga visited Sri Lanka during October 13 -15 for talks on ADB support to Sri Lanka, especially for rehabilitation […]
Sri Lanka shares down on billionaire arrest, trade deal doubts
Oct 19, 2009 (LBO) – Sri Lankan shares ended lower Monday on news of the arrest of a US hedge fund manager with big stakes in the island and uncertainty over a trade deal with the European Union, brokers said. The All Share Price Index closed down 1.56 percent (49.00 points) to end at 3,082.91, […]
Suspect Donations
Oct 19, 2009 (LBO) – Sri Lanka is continuing investigations into financial support given to a Tamil charity with alleged terrorist links by a US hedge fund manager who was arrested for fraud, a senior official said.Sri Lankan Central Bank governor Ajith Nivard Cabraal told LBO the banking regulator was still investigating contributions made by […]
Ethnic Support
VANCOUVER, October 19, 2009 (AFP) – The Canadian Tamil Congress said Sunday its lawyers will represent dozens of illegal migrants arrested on a mystery ship seized off Canada’s West Coast.Detention hearings will begin early this week for as many as 76 migrants from a freighter seized Friday by Canadian military, police and other agencies. The […]
Good Faith
Oct 19, 2009 (AFP) – Sri Lankan-born hedge fund billionaire Raj Rajaratnam was investigated for allegedly funding Tamil Tiger rebels, but there was no evidence against him, the Central Bank of Sri Lanka said Monday.US authorities on Friday charged Rajaratnam, 52, with fraud after saying they had uncovered the biggest ever case of insider-trading by […]
Mobile War
Oct 19, 2009 (LBO) – Fitch Ratings said the entry of Emirates Telecommunications Corporation (Etisalat) into Sri Lanka can further delay any prospects for recovery in the Sri Lankan telecom operators’ profitability.Millicom International Cellular SA last week sold its fully-owned subsidiary in Sri Lanka, Tigo, to Etisalat in a competitive bidding process. Tigo is the […]
Expansion
ABU DHABI, October 18, 2009 (AFP) – Gulf telecoms giant Etisalat said on Sunday that net profit dropped 4.7 percent in the nine months to September after a one-time gain had boosted year earlier figures. Net profit fell to 6.85 billion dirhams (1.87 billion dollars) from 7.19 billion dirhams (1.96 billion dollars) a year ago, […]