Category:
Fugitive Tipster
NEW YORK (AFP) – US regulators have levied a $34.5 million fine against alleged Galleon case insider trading tipster Deep Shah, who is believed to be hiding in India, a court filing showed Wednesday. Shah is the only one who remains at large. The Sri Lankan-born billionaire founder of Galleon Group, Raj Rajaratnam, was convicted […]
Legend
SAN FRANCISCO, August 24, 2011 (AFP) – Apple’s legendary co-founder and top ideas man Steve Jobs resigned as chief executive Wednesday, the company said, in a long expected move after he began a dramatic fight with cancer. In a written statement, Apple, the world’s second biggest company by market capitalization, announced that chief operating officer […]
Sri Lanka T-bill yields flat amid lower acceptance
Aug 24, 2011 (LBO) – Sri Lanka’s Treasury bill yields were held flat across maturities with only 64 percent of the offer sold to real bidders at Wednesday’s auction, according to data released by the government’s debt office. In bond markets, a 2015 bond which rose as high at 8.60 percent earlier in the week […]
Sri Lanka stocks end down 0.7-pct
Aug 24, 2011 (LBO) – Sri Lankan share prices closed lower for the fourth straight day Wednesday, with trading mainly on speculative stocks while there were a few off-market private deals, brokers said. There were also two crossings of John Keells Holdings of 100,000 shares each one at 212 rupees and the other at 208 […]
Port Parley
Aug 24, 2011 (LBO) – An international conference on ports opened in Sri Lanka Wednesday with the head of its port authority saying ports need to urgently need to expand capacity to cope with increasing trade flows. “Global trade is bouncing back (from recession) and there’s a continuous need to enhance port capacity,” Priyath Wickrama, […]
Sri Lanka July 2011 tea output falls sharply
Aug 24, 2011 (LBO) – Sri Lanka’s July 2011 tea production fell sharply from a year ago, owing to erratic weather conditions, reducing total crop for the year so far to slightly below that of the same 2010 period. Sri Lanka Tea Board statistics showed the July 2011 crop fell 11.5 percent to 24.2 million […]
Property Trend
Aug 24, 2011 (LBO) – Overseas Realty (Ceylon) Ltd, a unit of Singapore’s Shing Kwan group, is on the lookout for fresh projects as a multi tower residential development in Sri Lanka’s capital enters new phase, an official said. The group is now focusing on ‘Havelock City’ an 8-tower project in which two towers of […]
” beyond 16-year high
HONG KONG, August 23, 2011 (AFP) – Hong Kong’s inflation has hit a 16-year high and economists warned Tuesday there are signs it will worsen in coming months as runaway housing and food costs continue to besiege the city’s economy. Figures released in the southern Chinese territory Monday showed inflation hit 7.9 percent year-on-year in […]
Sri Lanka cement crisis continues amid price controls
Aug 24, 2011 (LBO) – Sri Lanka’s construction industry is facing a shortage of about a million 50 kilogram sacks of cement a month, a media report said as price controls limit supplies and threaten the island’s construction sector. Amid the shortages created by price controls, state enterprises have got into the act like in […]
Sri Lanka stocks slump almost one percent
Aug 23, 2011 (LBO) – Sri Lankan share prices slumped almost one percent Tuesday, falling for the third straight day, with gains in the health sector as investors bought into a hospital group, brokers said. The main All Share Price Index closed at 6,861. 73, down 0.96 percent (66.30 points) while the more liquid Milanka […]
Sri Lanka tea exporter calls for better labour relations
Aug 23, 2011 (LBO) – A top Sri Lankan tea exporter has suggested more cordial relations between plantations companies and labour unions could reduce “confrontational” approaches to wage negotiations. Fernando said that he believed the conflict with trade unions is largely due to lack of an ongoing dialogue between plantation owners and trade unions. “If […]
Talent Pool
Aug 23, 2011 (LBO) – Virtusa, a US-based firm which has a development centre in Sri Lanka, has struck a deal with the island’s vocational training body to provide information technology skills to its graduates. Virtusa, headquartered in Massachusetts, has offices in the United States and the United Kingdom, and global delivery centres in India […]