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Sri Lanka Aviva Eagle gilt fund gets top rating
Jan 23, 2012 (LBO) – NDB Aviva Wealth Management’s Eagle Gilt Edged Fund has been rated (SL) AAAmf, by ICRA Lanka Limited, a rating agency which is an associate of Moody’s Investors Service. Launched in December 1997, the Eagle Gilt Edged Fund invests in government and government guaranteed securities. “The fund has been very popular […]
Sri Lanka shares plunge 02-pct
Jan 23, 2012 (LBO) – Sri Lankan shares plunged Monday amid continued selling pressure and are now down almost 4.5 percent since credit rules were relaxed by the regulator. The main All Share Price Index closed down 2. 04 percent (118.04 points) at 5,663.09, while the more liquid Milanka index fell 2.14 percent (105.18 points) […]
Terminal Control
Jan 23, 2012 (LBO) – China Merchant Holdings (International), a Hong Kong listed Chinese state firm, is to up its stake in a container terminal venture at Sri Lanka’s Colombo port by 30 percent to 85 percent with the exit of a private consortium partner. Sri Lanka’s listed Aitken Spence group said it received approval […]
Fancy Finance
Jan 23, 2012 (LBO0 – Sri Lanka’s Senkadagala Finance said net profit rose 106 percent to 146 million rupees in the December 2011 quarter from a year ago. Total assets of the company were 10 billion rupees as at December 31, 2011, up from 6. 9 billion rupees as at March 31, 2011. Since getting […]
Retail Strength
Jan 23, 2012 (LBO) – Fitch Ratings Lanka has assigned Abans (Private) Limited’s proposed senior unsecured debenture issue of up to 500 million rupees a national long-term rating of ‘A-(lka)’. The debenture will rank equally with other senior debt of Abans, a statement from the rating agency said. “The rating reflects Abans’ strong market position […]
Bacteria Battle
Jan 23, 2012 (LBO) – Sri Lanka has completed the first phase of a four-year project to study microbial resistance to antibiotics, which is a serious problem worldwide and puts a strain on healthcare systems. The first report of the surveillance of microbial sensitivity to antibiotics, initiated by the Sri Lanka College of Microbiologists (SLCM) […]
Indian food prices ease for third week
NEW DELHI, Jan 23 (AsiaPulse) – Indian food inflation remained in the negative zone for the third straight week, at (-)0.42 per cent for the week ended January 7, mainly due to fall in prices of onion and vegetables. Food inflation, as measured by the Wholesale Price Index (WPI), was at (-) 2.90 per cent […]
Indian regulator fines 17 entities for securities fraud
MUMBAI, Jan 23 (AsiaPulse) – Indian regulator Sebi has imposed penalty totalling Rs 24 lakh (US$47,788) on 17 entities on charges ranging from non-disclosure of acquisition of shares to involvement in fraudulent trade practices in dealing with shares of Platinum Corporation Ltd (BSE:532117). In separate orders, Sebi fined Platinum Corporation Promoter and Director Pratik Shah […]
Sri Lanka reconciliation, secular republics in focus
Jan 23, 2012 (LBO) – Building a secular state can prevent oppression of minorities and victims of an arbitrary state should learn to forgive but must also speak out for change, writers participating in a literary festival in Sri Lanka said. India, a land of Maharajahs, became a democracy with voting rights and parliamentary legislating […]
Crude Options
Jan 23, 2012 (LBO) – Sri Lanka will be able to import crude from Iran for at least six months before US sanctions make it impossible for payments to be made to that country, a media report said. Sri Lanka’s The Sunday Times newspaper quoted petroleum minister Susil Premajayantha as saying that talks would be […]
‘s Galle literary festival closes
Jan 23, 2012 (LBO) – Curtains came down on the five-day long Galle Literary Festival on Sunday with discussions on obsessive love, war and Indira Gandhi taking centre stage. Biographers Nayantara Sahgal and Katherine Frank shed light on the iron lady of South Asia, the iconic Indira Gandhi’s political career and how she exercised power […]
Sri Lanka private carrier resumes flights to north
Jan 22, 2012 (LBO) – Sri Lanka’s Expo Aviation will recommence twice daily flights to Jaffna in Sri Lanka’s north using a 12-seater Cessna Grand Caravan aircraft, a media report said. Sri Lanka’s The Sunday Times newspaper quoted Expo Aviation managing director Seraj Mohammed as saying that demand is seen picking up. The firm was […]