Category:
Stumbling Block
May 17, 2011 (LBO) – Sri Lankan celcos are showing signs of recovering from cut throat competition and soaring inflation a few years ago, but experts say the recovery is short lived as the sector has already hit its next stumbling block. Shorter life spans in emerging technologies and ill advised expansion plans are the […]
‘s rich flaunt wealth
NEW DELHI, May 17, 2011 (AFP) – In booming India, being rich is not enough. For the moneyed classes, it’s increasingly about flaunting their wealth in ways typical of the nouveaux riches in Russia, China or the Middle East. India’s well-heeled used to be more shy about displaying their wealth in the decades after independence […]
Sri Lanka win England tour opener
LONDON, May 16, 2011 (AFP) – Sri Lanka enjoyed a successful warm-up ahead of their Test series against England with a four-wicket win over Middlesex on the third and final day of their tour opener at Uxbridge on Monday. Several batsmen spent time in the middle, Thilan Samaraweera leading the way with 49, as Sri […]
Sri Lanka urged by India to probe rights record
NEW DELHI, May 17, 2011 (AFP) – India broke with past practice on Tuesday and called on Sri Lanka to investigate allegations of human rights abuses during the island’s civil war, upping pressure on President Mahinda Rajapakse. India has not joined recent demands from the United Nations and Western countries for a probe into alleged […]
Sri Lanka intercepts Tamil Tiger propaganda
May 17, 2011 (AFP) – Sri Lankan authorities on Tuesday detained a Canada-bound container with a cargo of propaganda material for the island’s Tamil Tiger rebels, a police official said. Police were asked to investigate the consignment of promotional material for the Liberation Tigers of Tamil Eelam (LTTE), on its way to Canada from the […]
Sri Lanka frees 850 prisoners on Buddhist holiday
May 17, 2011 (AFP) – Sri Lanka freed 858 convicts on Tuesday to mark the most important day in the Buddhist calendar, a prison official said. President Mahinda Rajapakse granted freedom to 13 women and 845 men held at 29 prisons across the country to commemorate Vesak, which marks Buddha’s birth, enlightenment and death, commissioner […]
Sri Lanka Treasuries yields steady
May 16, 2011 (LBO) – Sri Lanka’s Treasuries yields were steady at the weekly auction, brought forward to Monday owing to religious holidays in the next two days, according to the government’s debt office. The yield on three-months bills edged up to 7. 07 percent from 7.06 percent, that on six month bills rose to […]
Sri Lanka shares up 0.5-pct
May 16, 2011 (LBO) – Sri Lankan shares made a comeback Monday, boosted by encouraging first quarter earnings and anticipation the regulator would further relax the margin trading credit settlement period, brokers said. The main All Share Price Index closed at 7,358. 69 up 0.53 percent (38.75 points) while the more liquid Milanka index up […]
Box Trends
May 16, 2011 (LBO) – Container cargo at Sri Lanka’s main port of Colombo, south Asia transhipment hub, rose in the first quarter of this year indicating continued growth in regional and domestic trade. Ship traffic at Colombo port rose eight percent to 376 in March 2011 from a year and grew 4.3 percent to […]
Bank Numbers
May 16, 2011 (LBO) – Sri Lanka’s National Development Bank group said March 2011 quarter net profit doubled to 605 million rupees from a year ago as lending and deposits grew and it contained bad loans. Interest income fell two percent to 2.5 billion rupees while interest expenses fell four percent to 1.4 billion rupees […]
Easier Borrowing
May 16, 2011 (LBO) – Sri Lankan banks will soon be able to lend against moveable property with a new initiative by the Credit Information Bureau (CRIB), an official said. The CRIB plans to set up a ‘secured transaction registry’ from June 01, 2011 that will enable registration of moveable assets against which banks can […]
Sri Lanka Kelani Valley March net up 120-pct on high rubber prices
May 16, 2011 (LBO) – High rubber prices have helped Sri Lanka’s Kelani Valley Plantations increase March 2011 quarter net profit by 120 percent to 246 million rupees from a year ago. Earnings per share for the March 2011 quarter were 7. 24 rupees compared with 3.29 rupees the previous year. Sales of the firm, […]