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” rating confirmed: RAM
Aug 08, 2011 (LBO) – Sri Lanka Insurance Corporation’s AAA claims paying rating has been confirmed by RAM Ratings with a stable outlook, based on its competitive position, state ownership and capitalization. RAM said SLIC accounted for 22.3 percent of industry premium by December 2010 and 40 percent of assets. It had system importance as […]
Sri Lanka commissions 500kW solar plant
Aug 08, 2011 (LBO) – Sri Lanka has commissioned a 500 kiloWatt solar power plant in Hambantota in the south of the island built with Korean help, the island’s power and energy ministry said. The solar plant in Hambantota in the South of the island built with 412 million rupees of Korean financing has been […]
Sri Lanka water management: Multiple choice
Aug 08, 2011 (LBO) – It is said that inland reservoirs cover one tenth of Sri Lanka’s land area. Sri Lanka may possibly be the country with the greatest density of artificial reservoirs. It sure seems so from Google Earth, or from looking down from the Delhi flight on a clear day. I just got […]
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August 7, 2011 (AFP) – Sri Lanka’s foreign ministry plans to protest to the United States after fighter jets intruded into the island’s airspace last week, the local Sunday Times newspaper said. The Sunday Times said the External Affairs Ministry planned to hand a protest note to the US embassy in Colombo. The squadron of […]
Dilshan hits ton in Sri Lanka victory
PALLEKELE, August 6, 2011 (AFP) – Tillakaratne Dilshan hammered a maiden Twenty20 century to set up Sri Lanka’s 35-run victory over Australia in the opening match on Saturday. The captain made a 57-ball 104 not out, smashing five sixes and 12 fours in a superb display of hard and clean hitting to help his team […]
Loss of AAA status tough but logical for US
WASHINGTON, August 7, 2011 (AFP) – Standard & Poor’s decision to strip the United States of its triple-A credit rating is a tough but logical sanction of the country’s inability to contain its spiraling debt, experts say. S&P slashed the US rating for the first time in history Friday from its sterling AAA to AA+, […]
”” market tumble
PARIS, August 7, 2011 (AFP) – The week on financial markets began with high tension over the eurozone debt crisis and culminated in a downgrading of the US credit rating. Attention focused on the outlook for the US and EU economies, and the eurozone lurched deeper into crisis which now affects even core countries. The […]
Sri Lanka Textured Jersey says June net up 136-pct
Aug 06, 2011 (LBO) – Sri Lanka’s Textured Jersey, a knitwear making unit of Sri Lanka’s Brandix apparel group said profits in the June 2011 quarter rose 136 percent to 143.9 million from a year earlier, despite a rise in cotton prices. The firm will have 655 million shares after the initial offer. Last year […]
US credit rating downgraded to AA+ by S&P
Aug 06, 2011 (LBO) – The long term credit rating of the United States of America has been downgraded by one notch to AA + with a negative outlook by Standard & Poors, a rating agency, which said policy making has become less ‘stable’. At higher levels in the rating scale, policy takes on a […]
US credit rating downgraded AA+, outlook negative
Aug 06, 2011 (LBO) – The long term credit rating of the United States of America has been downgraded by one notch to AA + with a negative outlook by Standard & Poors, a rating agency. Unless rulers cut spending as agreed with the congress, the rating agency said it may further downgrade US government […]
Sri Lanka stocks end down 0.9-pct
Aug 05, 2011 (LBO) – Sri Lankan stocks closed lower Friday as Asian and European markets plunged on renewed recession fears, brokers said. The benchmark All Share Price Index ended down 0. 86 percent or 58.49 points at 6,751.29, while the Milanka Index of more liquid stocks closed down 1.03 percent (64.26 points) at 6,152.23, […]
Fusion Mode
Aug 05, 2011 (LBO) – A service station to repair and maintain hybrid cars in Sri Lanka, whose use has risen sharply after an import tax cut, has been set up in the capital Colombo. About 2,000 hybrid electric vehicles, which combine an internal combustion engine with electric motors to drive them, are already on […]