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Sri Lanka press slams selectors for defeat
April 3, 2011 (AFP) – Sri Lanka’s defeated cricket team returned home Sunday to calls from the state-run media demanding a probe into “blunders right from the start”. “Who picked the final XI of the Sri Lanka team for the World Cup final against India?” the Sunday Observer asked. It questioned the dropping of spinner […]
India win launches billion-person party
MUMBAI, April 2, 2011 (AFP) – A billion Indians launched the world’s biggest party Saturday, as their adored national team lifted the cricket World Cup, triggering celebrations and firework displays across the country. From the megacities of Mumbai, Kolkata and New Delhi to India’s rural heartland, where entire villages had gathered around television sets to […]
India deserved to win, says Sangakkara
MUMBAI, April 2, 2011 (AFP) – Sri Lanka captain Kumar Sangakkara said his team were disappointed at missing out on a second World Cup title but proud to go down to a team that deserved victory more. “I am very proud of everyone in the team, especially Mahela (Jayawardene) who rose up to the occasion […]
India charges ex-minister in telecom graft scandal
NEW DELHI, April 2, 2011 (AFP) – Indian police on Saturday charged a former telecom minister with abuse of power and conspiracy in an alleged mobile spectrum fraud that cost the country billions of dollars in lost revenue. The south Indian politician, A. Raja, was also accused of cheating, forgery and criminal misconduct on a […]
India wins cricket World Cup defeating Sri Lanka
MUMBAI, April 2, 2011 (AFP) – Gautam Gambhir made 97 and skipper Mahendra Singh Dhoni smashed an unbeaten 91 off 79 balls as India won the World Cup for the first time since 1983 with a six-wicket victory over Sri Lanka on Saturday. Sri Lanka, who won the toss and elected to bat in the […]
Fever pitch atmosphere for World Cup final
MUMBAI, April 1, 2011 (AFP) – Frenzied fans, ticket touts and paramilitary police promised a heady mix of carnival and caution for the cricket World Cup final in Mumbai Saturday between hosts India and South Asian rivals Sri Lanka. Roads have been blocked around the Wankhede Stadium venue, with some 3,500 police personnel out in […]
Petrol Hike
Apr 02, 2011 (LBO) – Sri Lanka has raised fuel arbitrarily jacking up petrol far above cost while keeping diesel mostly used mostly by businesses low, according to prices announced by a state run distributor. Rich transport contractors, and owners of luxury diesel vehicles and pick trucks are now effectively cross subsidized by small car […]
Sri Lanka inflation gap widens with dollar-pegged Asia
Apr 02, 2011 (LBO) – Sri Lanka’s inflation has started to pull ahead of dollar pegged Asia with consumer prices in March rising 8.6 percent from a year earlier, despite a fall in food prices as non-food prices inflated. In the month of March the food portion of Sri Lanka’s Colombo Consumers’ Price index fell […]
Sri Lanka shares close up 2-pct
Apr 01, 2011 (LBO) – Sri Lankan shares closed sharply higher Friday with interest in banking and manufacturing stocks, brokers said. Central Finance fell 31.10 to close at 1,242.60 rupees. The All Share Price Index closed at 7,377. 22, up 2.09 percent (151.10 points) while the more liquid Milanka index rose 2.18 percent (149.89 points) […]
Outlook Upgrade
Apr 01, 2011 (LBO) – Fitch Ratings Lanka has raised Ceylease Financial Services’ rating outlook to stable from negative and confirmed its ‘BB+(lka)’ rating. CFS’s total assets amounted to 1.5 billion rupees in 2010. The outlook revision reflects CFS’s improving financial profile, underpinned by better credit controls and more stringent recovery efforts, a statement said. […]
Director Controversy
Apr 01, 2011 (LBO) – Sri Lanka’s Commercial Bank of Ceylon has released a statement on the action led by state-connected shareholders to oppose the re-election of an independent director. 3. The Board wishes to clarify and re-iterate that Mr. Ranjit Fernando’s decision not to stand for re-election was his own independent decision and was […]
Forex Fine
Apr 01, 2011 (LBO) – Sri Lanka has fined Standard Chartered Bank 27 billion rupees, (245 million US dollars) under the country’s exchange controls laws for a capital transfer over a disputed oil derivative, a media report said. Sri Lanka’s Standard Chartered Bank, Citibank, Deutsche Bank and two local banks sold complex leveraged options positions […]