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Sri Lanka Tamil migrants sail to uncertainty in Canada
VICTORIA, August 14, 2010 (AFP) – Hundreds of Tamils seeking asylum from Sri Lanka sailed into Canada on Friday under the scrutiny of authorities, who vowed to screen out Tiger rebels after charges that the country is too welcoming. After three months on the Pacific, a navy frigate escorted the shabby, Thai-flagged MV Sun Sea […]
Sri Lankan shares close up 1.61-pct
Aug 13, 2010 (2010) – Sri Lankan shares closed higher Friday as midcap stocks rallied mostly on retail investor interest amidst low trading volumes, while Environmental Resources Investments (ERI) shares continued to fall, brokers said. The All Share Price Index closed at 5,115.79, was up 1.61 percent (80.94 points) Friday, while the Milanka index of […]
Warranted Profits
Aug 13, 2010 (LBO) – Sri Lanka’s Environmental Resources Investments (ERI) made a profit of 44 million rupees in the June quarter from higher sales from Ceylon Leather Products Limited (CLPL) and a brokering firm acquisition, its interim results showed. The move followed unusual price swings and heavy trading in certain stocks including ERI warrants. […]
Sri Lanka July tourist arrivals up 50-pct
Aug 13, 2010 (LBO) – Tourist arrivals into Sri Lanka surged by 50 percent in July 2010 to 63,339 from a year ago as post-war optimism and removal of travel advisories encouraged visitors even during the off-season, latest data shows. The increase in the number of visitors was driven largely by more arrivals from Western […]
LBR-LBO CEO Forum
Aug 13, 2010 (LBO) – Dialog Axiata, Sri Lanka’s top celco which is turning around after heavy losses last year, had anticipated sales to come down due to economic slowdown, but did not see a price war coming, a senior official said. “It was the fact that an economic downturn and a price war both […]
‘s BlackBerry offensive widens to Google, Skype: report
NEW DELHI, August 13, 2010 (AFP) – India’s showdown with BlackBerry could reportedly widen to encompass Google and Skype after the government threatened to cut off core features of the popular smartphone on security grounds. Research In Motion, the BlackBerry’s Canadian maker, gave no immediate indication that it would accede to the latest pressure from […]
SriLankan Airlines to get more aircraft, increase flights
Aug 13, 2010 (LBO) – SriLankan Airlines is planning to support the country’s rapidly-growing tourism industry with a planned increase in worldwide flights and to acquire two more aircraft this year, a statement said. The national carrier plans additional capacity to Paris, Frankfurt, Milan, Rome, Bangkok, Singapore, Kuala Lumpur, Shanghai, Karachi and many cities in […]
‘s ex-army chief convicted by court martial
August 13, 2010 (AFP) – A court martial convicted Sri Lanka’s former army chief Sarath Fonseka Friday of dabbling in politics and stripped him of his rank and medals, a senior military source said. “The guilty verdict was read out to General Fonseka at the court martial a short while ago,” the military source told […]
Sri Lanka refugee ship boarded by Canadian navy
VANCOUVER, August 12, 2010 (AFP) – The Canadian navy on Thursday intercepted a cargo ship carrying up to 500 Sri Lankan asylum seekers and prepared to screen them, fearing some belonged to the defeated and banned Tamil Tiger rebels. After days of tracking by Canadian and US authorities, the navy boarded the MV Sun Sea […]
Sri Lanka private investment mooted to free public money for social spending
Aug 13, 2010 (LBO) – Sri Lanka should consider more private investment in education and health in prosperous areas, freeing public money for investment in upgrading in social services in lagging regions, an official said. Anura Ekanayake, chairman of the Ceylon Chamber of Commerce, said there was a huge gap in the investments needed to […]
Sri Lanka selects HSBC, Bank of America, RBS for sovereign bond
Aug 12, 2010 (LBO) – Sri Lanka’s central bank has chosen Hongkong and Shanghai Banking Corporation (HSBC), Bank of America Merrill Lynch and the Royal Bank of Scotland (RBS) to handle a planned billion dollar sovereign bond issue. It said in a statement the three were selected as joint lead managers and bookrunners for the […]
Sri Lanka Treasuries yields continue to fall
Aug 12, 2010 (LBO) – Sri Lanka’s Treasury bill yields fell further at Wednesday’s auction with one year yields falling the most, the government debt office said. The 3-month yield fell 14 basis points to 7. 64 percent, while the 6-month yield was down 18 basis points to 8.30 and the 12-month yield was down […]