Category:
Auto Effect
Apr 27, 2011 (LBO) – The prices of Indian-made Maruti and Alto cars sold in Sri Lanka have gone up by 12 percent because of this week’s government import duty hike, according to agents who ship the vehicles. Shivantha de Zoysa, senior general manager, sales and marketing at Associated Motorways, said the price of an […]
Finance Listing
Apr 27, 2011 (LBO) – Commercial Credit Ltd. , a registered finance company based in Sri Lanka’s central hill town of Kandy, has been given regulatory approval to list on the stock exchange. The Colombo stock exchange said it has approved the finance comapny’s application to list 218,074,365 ordinary shares on its ‘diri savi’ or […]
Sri Lanka moves to protect Ceylon tea brand
Apr 27, 2011 (LBO) – Sri Lanka’s commerce and industry ministry has allocated funds to register ‘Ceylon tea’ under the global geographical indicators (GI) trade regime that will better protect the island’s best known brand. Registration under the GI will prevent abuse of the Ceylon tea brand, government officials have said. The commerce and industry […]
Vodafone finds India tough going
NEW DELHI, April 27, 2011 (AFP) – When British mobile phone giant Vodafone paid $11.1 billion to buy an Indian cellular operator four years ago, it had high hopes the purchase would offset saturated markets at home. “This kind of deal is what we all dreamed about when we were students,” former chief executive Arun […]
” UN report
April 27, 2011 (AFP) – Sri Lanka rejected Wednesday what it called a “divisive” and flawed report commissioned by UN chief Ban Ki-moon which holds the government responsible for thousands of civilian deaths in its civil war. “The public release of the report at this stage is divisive, and disrupts our efforts to reinforce peace, […]
UN feared for staff in Sri Lanka conflict finale: Ban
UNITED NATIONS, April 27, 2011 (AFP) – The United Nations feared for its staff in Sri Lanka as government troops crushed a Tamil separatist uprising in 2009, UN chief Ban Ki-moon said Tuesday defending the actions of UN agencies. As pressure grew for an international investigation into the killing of “tens of thousands” in the […]
Asians driven to extreme poverty by commodity bubble
Apr 27, 2011 (LBO) – Rising food prices from a global commodity bubble could push 64 million people in developing Asia into extreme poverty, the Asian Development Bank said adding to rising concerns about the effects loose US monetary policy. Many such central banks also create their own inflation, adding to inflation generated by the […]
Sri Lanka IPO pricing based on latest financials: advisors
Apr 26, 2011 (LBO) – Financial advisors for a forthcoming share issue by Sri Lanka’s Expolanka group have defended the pricing of the public offer at more than twice that of a private placement late last year. Expolanka Holdings is to raise 2.4 billion rupees by issuing 172 million ordinary voting shares at 14 rupees […]
Sri Lanka motor shares weaken after duty hike
Apr 26, 2011 (LBO) – Sri Lankan shares closed mixed Tuesday with motor companies weakening after an impot duty hike that will increase prices of cars and reduce sales, brokers said. The main All Share Price Index was barely changed, closing at 7,349.17, up 0.05 percent (3.69 points) while the more liquid Milanka index fell […]
Islamic Banking
Apr 26, 2011 (LBO) – Sri Lanka’s Amana Bank has signed a deal with Malaysia’s Bank Islam, which is a shareholder, to get Islamic banking expertise. A company statement said that under the Technical Advisory Service Agreement, Bank Islam will play a “significant role” in transferring Islamic banking expertise to Amana Bank. Bank Islam has […]
Book Stall
Apr 26, 2011 (LBO) – A Sri Lanka stall at the London Book Fair this month had attracted large numbers of visitors while several British authors had made inquiries about publishing their books in the island, participants said. The Sri Lanka Publishers Association, The Booksellers and Importers Association of Ceylon and the Export Development Board […]
Galleon Case
NEW YORK, April 25, 2011 (AFP) – A jury began deliberating Monday in Wall Street’s biggest insider trading court case in years, targeting Galleon hedge fund founder Raj Rajaratnam, accused of profiting from insider information. Federal Judge Richard Holwell instructed jurors to use “fairness and impartiality” and said they are “the soul” of the case. […]