Category:
Sri Lanka stocks end down 0.4-pct
Oct 10, 2011 (LBO) – Sri Lankan stocks resumed their slide Monday, after a slight rally Friday broke a thee-day fall, with a large deal in Laugfs Gas accounting for the bulk of turnover, brokers said. Renuka Agri Foods was the fourth most actively traded stock, closing at 7. 60 rupees, up 20 cents, with […]
Quarterly Result
Oct 10, 2011 (LBO) – A provision reversal at People’s Leasing Company which is going public next month came due to it following international financial reporting standards (IFRS), which do not permit general provisions, an official said. People’s Leasing is selling 390 million shares at 18 rupees a share. After the IPO the firm will […]
Banking Ventures
Oct 10, 2011 (LBO) – Banks in countries like Sri Lanka could look at joint ventures with big Western financial institutions seeking to expand in emerging markets, a senior American banker said. Joint ventures between Western and local banks make better sense than big foreign banks trying to compete in emerging markets against local players, […]
Sri Lanka tourist arrivals up 27-pct in September
Oct 10, 2011 (LBO) – Tourist arrivals to Sri Lanka rose 27. 2 percent to 60,219 in September from a year earlier, helped by surging arrivals from India and China, though British visitors fell, official data showed. In the nine months to September 2011, total arrivals rose 34. 3 percent to 598,006. During the month […]
‘s Tata Coffee shares surge on Starbucks tie-up report
MUMBAI, October 10, 2011 (AFP) – Shares in India’s Tata Coffee soared nearly 10 percent on Monday after media reports that a proposed tie-up with giant US chain Starbucks will be announced soon. Tata Coffee, a grower and supplier of high-quality Arabica beans, jumped 9.8 percent intraday to a day’s high of 881. 75 rupees […]
SriLankan Airlines on Facebook and Twitter
Oct 10, 2011 (LBO) – SriLankan Airlines has launched accounts on the Facebook and Twitter social media sites as it adopts new strategies to each customers, the national carrier said in a statement. The airline’s presence in the popular sites will enable customers not only to obtain product and service information of the airline but […]
Mumbai win Champions League cricket
CHENNAI, October 9, 2011 (AFP) – Skipper Harbhajan Singh bagged three wickets to help Mumbai Indians lift the Twenty20 Champions League title with a 31-run victory over Royal Challengers Bangalore in the final on Sunday. The off-spinner removed hard-hitting Chris Gayle (five), Virat Kohli (11) and Daniel Vettori (one) as Mumbai dismissed Bangalore for 108 […]
Poverty: Where should Sri Lanka focus resources?
Oct 10, 2011 (LBO) – I was asked by a major charitable organization to help set the stage for their thinking on strategic direction. Mine is just a minor contribution, but more organizations, including of course government, should engage in these kinds of exercises. Understanding that my audience would be interested in alleviating poverty, I […]
British defence chief fights for job amid friend row
LONDON, October 10, 2011 (AFP) – British Defence Secretary Liam Fox’s political career hung in the balance on Monday as he prepared to face a parliamentary grilling over his friend’s reported involvement in government affairs. Fox on Sunday responded to accusations that he had an inappropriate working relationship with friend Adam Werritty, saying he was […]
Sri Lanka inflation to ease; monetary stance sufficient: Deputy Governor
Oct 10, 2011 (LBO) – Sri Lanka will continue its current monetary stance with inflation expected to moderate, Deputy Central Bank Governor Dharma Dheerasinghe has said, though a signal rate edged higher with new policy tools being deployed. Sri Lanka’s 12-month inflation fell to 6.4 percent in September from 7.0 percent in August. Inflation was […]
Legal Status
NEW YORK, October 9, 2011 (AFP) – Raj Rajaratnam, convicted in the biggest US insider trading case for years, faces a sentence of up to 24 years prison next week at the close of a case seen as making an example of the hedge fund tycoon. The sentencing hearing on October 13 before federal Judge […]
Western fast food, waistlines surge in India
NEW DELHI, October 9, 2011 (AFP) – Every lunchtime at a McDonald’s on the corner of one of central New Delhi’s biggest streets, queues of hungry young patrons, often four-wide and unruly, snake towards the counters. In another study published last month, the International Federation of the Red Cross focused on the “double-edged scandal” of […]