Category:
Sri Lanka to rebuild fishery harbours in war-torn north
Sept 16, 2010 (LBO) – Sri Lanka will rebuild two fishery harbours in the north of the island as part of a strategy to develop maritime resources in the region which is recovering from a war, a government minister said. “This is a clear indication of the governments vision in moving forward in the development […]
Sri Lanka stocks close up 1.03-pct
Sept 15, 2010 (LBO) – Sri Lankan shares closed higher Wednesday with heavy trading in low value shares, brokers said. The All Share Price Index closed at 6,238.45, up 1.03 percent (63.39 points) while the more liquid Milanka index rose 0. 56 percent (36.45) to close at 6,488.71, according to stock exchange provisional figures. Turnover […]
News Trend
HONG KONG, September 15, 2010 (AFP) – Asian newspapers are defying the global print media meltdown while their counterparts in the West spill red ink and lay off staff in droves as readers flock to online news. Print advertising — the lifeblood of a newspaper’s revenue base — has plunged 47 percent in the hard-hit […]
Reduced Risk
Sept 15, 2010 (LBO) – Standard & Poor’s Ratings Services has raised the long-term local currency corporate credit rating on Sri Lanka Telecom (SLT) to ‘BB-‘ from ‘B+’ with a stable outlook, a statement said. At the same time, Standard & Poor’s confirmed the ‘B+’ long-term foreign currency corporate credit rating on the company and […]
Soft Support
Sept 15, 2010 (LBO) – Firms in an industrial park in Sri Lanka are getting enterprise resource planning software (EFP) from Swedish based IFS, in as little as six weeks, making it a record for implementing such software, officials said. IFS software comes in modules which can be implemented at each firm connected to the […]
Sri Lanka Islamic insurer short of compliant investments
Sept 15, 2010 (LBO) – Amana Takaful, an Islamic insurer in Sri Lanka says the market does not have enough investment vehicles that are compliant with Shariah laws and also local regulations, where it can invest funds. Investment income from bank had fallen to 18.7 million rupees in 2009 from 36.2 million rupees a year […]
Sri Lanka securities watchdog halts broker credit
Sept 15, 2010 (LBO) – Sri Lanka’s Securities and Exchange Commission has ordered brokering firms to “absolutely refrain” from giving credit for clients to trade in stocks as rising prices reduced the immediate risk of delaying payment. In Sri Lanka purchases have to be settled in three days (T+3). However clients could continue to get […]
Japan intervenes in forex markets for first time since 2004
TOKYO, September 15, 2010 (AFP) – Japan on Wednesday intervened in currency markets for the first time since 2004 in a bid to stem the yen’s appreciation against the dollar, Finance Minister Yoshihiko Noda said. The dollar had hit a fresh 15-year low of 82. 86 yen in Tokyo before gaining sharply following the intervention, […]
Sri Lanka begins road show to market $1bn bond
Sept 14, 2010 (LBO) – Sri Lanka has kicked off a road show to sell a billion dollar sovereign bond later this month, a media report said. Officials and investment banks promoting the issue will meet fund managers till September 24, a Bloomberg newswires report said. Investor meetings will be held in Singapore, Hong Kong, […]
Sri Lankan stocks close up 0.72-pct
Sept 14, 2010 (LBO) – Sri Lankan stocks continued their rally to close at a new high Tuesday, on price gains on selected midcap stocks on low volume trading, while Distilleries Company, Richard Pieris and Aitken Spence boosted turnover, brokers said. Distilleries Company of Sri Lanka, another index heavy share closed at 184.00 rupees, up […]
Health Message
Sept 14, 2010 (LBO) – Sri Lanka has successfully done a trial project that helps early detection of killer communicable diseases using mobile phones to send data that also reduces costs, officials said. The ‘real-time bio-surveillance programme’ enables the rapid detection and notification of potential health outbreaks through mobile phones, software applications and a Web […]
Info on Tamil refugees stolen in Canada break-in
MONTREAL, September 13, 2010 (AFP) – Information about the 492 Tamils refugees who arrived in Canada last month aboard a cargo ship has been stolen from a Tamil organization in Toronto, the group said Monday. The Canadian Tamil Congress (CTC), which serves as the voice of Tamil Canadians, said that someone broke into its headquarters […]