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Sri Lanka could boost Indian tourists 6-fold over decade: equities report
Aug 30, 2011 (LBO) – Sri Lanka could attract 750,000 tourists from India over the next decade, or six fold if Sri Lanka can capture just 2. 4 percent of that country’s outbound market, an equities research report said. Even if Sri Lanka maintains its current market share of 1. 4 percent, the island could […]
Radiation Warning
Aug 30, 2011 (LBO) – Sri Lanka’s power ministry has warned the public against using unlicensed x-ray machines saying they could expose patients to excessive radiation that could affect their health. Patients using unlicensed machines may not be able to get correct x-ray images and may expose themselves to unnecessary doses of radiation when repeating […]
Compounded
Aug 30, 2011 (LBO) – Sri Lanka’s securities watchdog has fined Environmental Resources Inc and several officers, over a disclosure related offence, market sources said. Sri Lanka’s Securities and Exchange Commission earlier sent the firm a notice of action, over a disclosure related matter. Under Sri Lanka’s securities law, a person charged with securities fraud […]
‘s killers
CHENNAI, August 30, 2011 (AFP) – Judges in Chennai on Tuesday delayed by two months the execution of three men convicted of the 1991 assassination of former Indian prime minister Rajiv Gandhi. The three men were due to be hanged on September 9 at a jail in the southern state of Tamil Nadu after India’s […]
India proposes to allow more private banks
MUMBAI, August 29, 2011 (AFP) – India’s central bank on Monday outlined proposals to allow more private players in the banking sector to foster greater competition and widen the availability of banking services. India’s state-run banks dominate the sector and inefficient practices and bloated workforces have brought calls for more private sector capital to reinvigorate […]
Aussies, Sri Lanka set for tough Test battle
GALLE, August 29, 2011 (AFP) – Rival captains Michael Clarke and Tillakaratne Dilshan will look to lead their young teams from the front when Australia and Sri Lanka begin their three-Test series on Wednesday. Dilshan will miss the experience of prolific off-spinner Muttiah Muralitharan, Test cricket’s leading bowler with 800 wickets, who retired from the […]
Sri Lanka inflation eases to 7.0-pct
Aug 30, 2011 (LBO) – Inflation in Sri Lanka’s capital Colombo rose 7. 0 percent in August 2011, easing from 7.5 percent in July, the government’s statistics office said. The revised index fell 0.3 percent in the month. The food and non-alcoholic beverages fell 0. 7 percent in the month, and non-food categories fell 0.1 […]
Sri Lanka forex reserves US$8.1bn in July
Aug 29, 2011 (LBO) – Sri Lanka’s foreign reserves rose to 8. 1 billion US dollars in July 2011 boosted with the sale of a sovereign bond, up from 7. 5 billion US dollars in June, the Central Bank said. Based on the previous 12-month, average imports of 1,398 million dollars a month, gross official […]
Sri Lanka stocks down, heavy trading in HVA
Aug 29, 2011 (LBO) – Sri Lanka’s stock market fell Monday after two days of gains with heavy trading seen in newly listed tea exporter HVA Foods which went over 46 rupees after recently trading below its issue price, brokers said. The main All Share Price Index closed at 6,837.35, down 0.23 percent (15.61 points) […]
Asset Quality
Aug 29, 2011 (LBO) – Fitch Ratings Lanka has confirmed Sampath Bank’s (SB) National Long-Term rating at ‘AA-(lka)’ with a positive outlook. “The affirmation reflects SB’s strong asset quality and profitability, its comfortable equity buffer maintained against future loan losses, as well as its rapid growth from 2010,” the rating agency said in a statement. […]
Top Rating
Aug 29, 2011 (LBO) – HSBC Sri Lanka’s ‘AAA(lka)’ rating has been confirmed by Fitch Ratings Lanka with a stable outlook based on the strength of its parent which has a rating higher than the island’s sovereign rating. Fitch said HSBC Sri Lanka branch was part of the same legal entity of Hong Kong & […]
Karachi bloodshed threatens havoc for Pakistan
KARACHI, August 29, 2011 (AFP) – Murder gangs rooted in Karachi’s boiling cauldron of ethnic politics are waging a savage fight for power and space in Pakistan’s financial capital, threatening to destabilise the entire country. At one of Karachi’s overflowing morgues, Amir Ali, clutching a photograph of his missing brother on his wedding day, searches […]