Category:
Oil prices at US$109 a barrel
LONDON, September 3, 2008 (AFP) – Oil prices closed modestly lower Wednesday as the market focused on demand amid a slowing global economy and signs that OPEC is under pressure to cut supply.New York’s main contract, light sweet crude for delivery in October, slipped 36 cents to close at 109.35 dollars a barrel after sliding […]
‘s conflict-hit and the poor under World Bank focus
Sept 04, 2008 (LBO) – The World Bank will help Sri Lanka build infrastructure and boost economic services to communities marginalized by an internal conflict and the poor, a top official has said at the conclusion of a visit to the island. “Sri Lanka clearly has so much potential which is being held back by […]
Sri Lanka to collect decades old taxes with new law
Sept 04, 2008 (LBO) – Sri Lanka would bring in a new law to collect taxes going back more than half a century from individuals, companies and corporations, a government official said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The new law which has already been […]
Sri Lanka Treasury bill yields fall
Sept 03, 2008 (LBO) – Sri Lanka’s Treasury bill yields fell at Wednesday’s auction with 6-month bills falling 26 basis points to 17.75 percent, and 12-month yields fell 10 basis points to 18.50 percent, the government’s debt office said. Three month bills were not offered. The debt office, which is a unit of the central […]
Sri Lanka shares weaken, Indian Oil unit gains as oil prices fall
Sept 03, 2008 (LBO) – Sri Lankan shares fell again Wednesday with the local unit of Indian Oil Corp (IOC) gaining as its earnings outlook improves on falling oil prices, brokers said. The indices were dragged down mainly by the fall in Dialog Telekom, which ended down 25 cents at 10.75 rupees with 314,100 shares […]
Tax Dispute
Sept 03, 2008 (LBO) – Sri Lankan ship owners say a recent Supreme Court decision has resolved a long-standing dispute they have had with customs over import tax on ships. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 According to the recent ruling, ships cannot be considered […]
Bunker Business
Sept 03, 2008 (LBO) – The Sri Lanka Ports Authority plans to take over the bunker fuel storage tank facility that belonged to John Keells Holdings (JKH) subsidiary Lanka Marine Services by September 10. Wickramasuriya said the port will run the tank farm and make it available for use by all licensed bunker suppliers. To […]
Finance Rating
Sept 03, 2008 (LBO) – Sri Lanka’s RAM Ratings says it has confirmed the ‘BBB’ national long term rating of Alliance Finance with a ‘stable’ outlook and also confirmed its ‘P2’ short term rating. “The ratings are supported by the company’s adequate asset quality and the resultant augmentation in its capital adequacy,” RAM Ratings said […]
Strong Region
Sept 03, 2008 (LBO) – Asia continued to do well amidst global financial turmoil and Sri Lanka and the Maldives are set to perform well, despite an expected slowdown, a top HSBC official said. In Sri Lanka the bank has also been providing aggressively and has also become more cautious in its credit card business, […]
LBR-LBO CIO forum
Sept 03, 2008 (LBO) – Retaining skilled information technology professionals is critical for Sri Lanka’s corporate sector when planning business continuity and disaster recovery, according to experts in the IT field. “IT is the backbone of retail systems.Hardware, technology or environmental issues would be a huge risk and would affect the continuity of the business,” […]
‘s prime minister escapes assassination attempt: official
ISLAMABAD, September 3, 2008 (AFP) – Pakistani Prime Minister Yousuf Raza Gilani escaped an assassination attempt after shots were fired at his vehicle Wednesday, his spokesman said. “By the grace of Allah the prime minister is safe,” Bashir said. “There was firing near the motorcade of the prime minister. Two bullets hit the window glass […]
Malaysia sends troops to protect ships in Gulf of Aden: report
KUALA LUMPUR, September 3, 2008 (AFP) – Malaysia has sent crack troops and navy ships to the Gulf of Aden after two of its vessels were seized by pirates last month, according to reports Wednesday. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The comments by deputy […]