Category:
Sri Lanka stocks end up 0.3-pct
Nov 11, 2011 (LBO) – Sri Lankan stocks closed firmer Friday but trading sank to a new recent low with uncertainty over a business expropriation law adding to the negative sentiment, brokers said. The main All Share Price Index rose 0.25 percent (15.60 points) to 6,332.47, while the more liquid Milanka index rose 0.31 percent […]
Hatton Profits
Nov 11, 2011 (LBO) – Profits of Sri Lanka’s Hatton National Bank rose 32 percent to 1,380 million rupees in the September 2011 quarter, from a year earlier, helped by a lower tax rate and provision reversals, interim accounts showed. The group reported earnings of 3.79 for the quarter. For the nine months to September […]
Flat Quarter
Nov 11, 2011 (LBO) – Sri Lanka’s DFCC Bank group reported profits of 529 million rupees in the September 2011 quarter, hardly changed from 524 million a year earlier, with net interest income narrowing, interim accounts showed. The group reported earnings of 2. 0 rupees for the quarter. For the six months it reported earnings […]
Management Skills
Nov 11, 2011 (LBO) – BRC Partnership, a consultancy based in Carrickfergus, Northern Ireland, is to provide management training and coaching for businesses in Sri Lanka, the British high commission said in a statement. Vicky Kell, Invest NI Trade Director said the joint venture deal was “an important success” for a Northern Ireland company specialising […]
Ad Hominem
Nov 11, 2011 (LBO) – Sri Lankan lawmakers expressed deep concern over a hastily passed expropriation law, which they said arrogated judicial and executive roles to elected members, undermining a constitutional separation of powers and violated property rights. “This bill has been drafted with no regard to the basic process of legislating,” opposition lawmaker and […]
Biometric Barrier
Nov 11, 2011 (LBO) – Two Sri Lankan visa applicants for travel to the United Kingdom were arrested this week when their attempt to use fake identities were detected with the help of fingerprints scans. UK visa applicants worldwide are required to provide their biometric data, having their fingers scanned and a digital photograph taken […]
Expanding Platform
Nov 11, 2011 (LBO) – Sri Lanka founded MilleniumIT, now a part of the London Stock Exchange group said it will provide securities trading and clearing technology to the Delhi stock exchange. The agreement covers technology for equity, derivatives, FX trading and clearing technology. The platform will offer “international investors advanced technology access to India’s […]
China seeks greater role in SAARC
ADDU, November 11, 2011 (AFP) – China is seeking an active role in the eight-member South Asian Association for Regional Cooperation, an official said Friday, in a move likely to be resisted by India. India would likely be suspicious of any greater Chinese role. New Delhi has watched with anxiety as Beijing has forged ties […]
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ADDU, November 10, 2011 (AFP) – The prime ministers of India and Pakistan said Thursday they expected to open a “new chapter” at future talks between the rival nations after they met at a regional summit in the Maldives. India’s Manmohan Singh and his Pakistani counterpart Yousuf Raza Gilani said their often strained ties were […]
‘s Malinga holds key in one-day series
DUBAI, November 10, 2011 (AFP) – Rival captains Misbah-ul Haq and Tillakaratne Dilshan agreed sling-action paceman Lasith Malinga could make the difference when Pakistan and Sri Lanka play their first one-day international here on Friday. The 28-year-old fast bowler, who bowls with a round-arm action is fresh from his exploits in last month’s Champions League […]
Sri Lanka BOI deletes page promising freedom from expropriation
Nov 11, 2011 (LBO) – Sri Lanka’s Board of Investment, the state investment promotion agency, has deleted a page which ‘guaranteed’ investors freedom from expropriation, raising questions of heightened political risk, lawmakers said. Sri Lanka passed a law to expropriate assets of 37 businesses, in several of which foreign investors were involved, after rushing it […]
Two rhino species bite the dust: Red List
PARIS, November 10, 2011 (AFP) – Several species of rhino have been poached into extinction or to the point of no return, according to an update of the Red List of Threatened Species, the gold standard for animal and plant conservation. All told, a quarter of all mammal species assessed are at risk of extinction, […]