Category:
Sri Lankan share prices slump, trading dries up
Jan 25, 2008 (LBO) – Sri Lankan stocks weakened further Friday with trading drying up to just a trickle as investors stayed away from the market owing to political and economic uncertainty. The All Share Index fell 3.21 points to 2,433.50 while the liquid Milanka index closed hardly unchanged at 3,125.25. Turnover slumped to 66 […]
Travel Costs
Jan 25, 2008 (LBO) – The national transportation commission of Sri Lanka has authorised a hike in bus fares due to recent fuel price increase, but private bus owners say it is insufficient. The fare increases approved by the commission will be effective from February 1 and are meant to minimise the effects of recent […]
Net Security
Jan 25, 2008 (LBO) – Bank of Ceylon (BOC) has deployed international authentication services provider VeriSign’s hacking and identity theft countering security features in its online banking transactions in Sri Lanka. VeriSign’s Identity Protection Services (VIP) for BOC’s online banking customers will provide an extra layer of security through VeriSign’s multiple authentication scheme. The scheme […]
‘s tea output dips in 2007, prices up
Jan 25, 2008 (LBO) – Sri Lanka’s tea production for 2007 fell by six million kilograms to 304 million kilograms as bad weather and the lagged effects of a strike hit production in the early part of the year, brokers said. Tea prices at the Colombo auctions have remained high in recent weeks and there […]
Down Under
Jan 25, 2008 (LBO) — Australia is looking to supply coal to Sri Lanka’s power stations and also provide clean coal and natural gas technology that can improve the efficiency of thermal generation, its envoy to Colombo has said. “The government of course has plans to develop coal fired power generation in Sri Lanka and […]
LawAsiaICT2008
Jan 25, 2008 (LBO) — Sri Lankan regulators should look for all options to bring down the cost of mobile phone ownership as the industry has emerged as a key driver of economic growth, the head of the island’s top celco has said.Better connectivity has enabled people become more productive, he added. Business drivers in […]
Bank of Japan governor dismisses call for rate cut
TOKYO, Jan 25, 2008 (AFP) – Japan’s central bank chief on Friday dismissed a call for an interest rate cut in coordination with the US Federal Reserve, saying that current policies were enough to keep the economy firm.Central banks’ job is to “select appropriate policies by analysing outlooks of each country’s economy and prices even […]
Davos adopts the caring face of capitalism
DAVOS, Switzerland, Jan 25, 2008 (AFP) – Corporate responsibility rather than profit was set to take centre stage in Davos on Friday, as the annual get-together of business chiefs turns its attention to issues of health, aid and development.“If every company here, if every country represented here would decide to divest from Iran, that can […]
”: lawyer
PARIS, Jan 24, 2008 (AFP) – The trader blamed for the near five-billion-euro fraud at French banking giant Societe Generale is “not on the run”, his lawyer said Thursday.The Paris prosecutor’s office opened a preliminary investigation into the scandal while scores of shareholders lodged suit against the bank for fraud and misconduct. “I can confirm […]
Sri Lanka to hold local polls in east after 14 years
Jan 25, 2008 (LBO) –Sri Lanka’s elections department announced Friday plans to hold local council polls in the island’s eastern region on March 10, the first time in 14 years that voters in the troubled area will be able to vote. Submission of nominations for municipal and urban council polls in the eastern province was […]
Sri Lanka stocks lose momentum
Jan 24, 2008 (LBO) — Sri Lanka stocks closed lower Thursday losing some of the gains made a day earlier after a hideout of Tamil Tiger leader Vellupillai Prabhakharan was bombed. The All Share Index closed 0.64 percent lower, falling 15.68 points to 2,436.71 and the liquid Milanka index closed 0.78 percent or 24.61 points […]
Rubber Cheques
Jan 24, 2008 (LBO) — One in ten cheques issued in Sri Lanka bounces and account holders are writing dud cheques with impunity despite it being a criminal offense, a top central banker said.Central Bank deputy governor Ranee Jayamaha says nine percent of the 250,000 cheques, especially in the Colombo area sent for clearing are […]