Category:
Sri Lanka calls on West to crack down on Tiger funding
May 7, 2010 (AFP) – Sri Lanka’s prime minister on Friday urged Western nations to crack down on Tamils using their soil to revive the Tamil Tiger separatist movement that was crushed last year. Premier D. M. Jayaratne said some of the 1.5 million ethnic Tamils living abroad were planning to form a movement to […]
Last Laugh
May 07, 2010 (LBO) – Laugfs Group, the sole rival of the Sri Lankan unit of Royal Dutch Shell, is keen to buy the multinational’s operations in the island, Laugfs chairman W K H Wegapitiya said. Shell Gas Lanka is the dominant supplier of liquefied petroleum gas (LPG) in Sri Lanka with Laugfs having a […]
Sri Lanka Seylan Bank profits up in March quarter
May 06, 2010 (LBO) – Sri Lanka’s Seylan Bank group has reported profits of 195.5 million rupees in the March 2010 quarter from break-even levels a year earlier with wider interest margins boosting the bottom line. Group interest income fell 34.6 percent to 4,052 million rupees, but interest expenses fell at a faster 54. 6 […]
Sri Lankan stocks close flat
May 6, 2010 (LBO) – Sri Lankan shares closed flat Thursday as price drops on selected high value shares were compensated by price gains on small and midcap stocks, brokers said. This created a buying spree from retail investors who expect Nawaloka Hospitals financials to improve in coming quarters, brokers said. In a privately negotiated […]
Finance Listing
May 06, 2010 (LBO) – Sinhaputhra Finance, a regulated non-bank financial firm based in Sri Lanka’s hill country city of Kandy, has been given the nod for a listing on its second board, the Colombo Stock Exchange said. The firm will list 6,295,893 shares, the CSE statement said without elaborating. The firm will be listed […]
Wider Margins
May 06, 2010 (LBO) – Sri Lanka’s Seylan Bank group has reported profits of 195.5 million rupees in the March 2010 quarter from break-even levels a year earlier with wider interest margins boosting the bottom line. Group interest income fell 34.6 percent to 4,052 million rupees, but interest expenses fell at a faster 54.6 percent […]
Selling Down
May 06, 2010 (LBO) – Sri Lanka’s listed Sampath Bank has sold down more of its stake in a Bangladesh finance firm, the bank said in a series of disclosures in the Dhaka stock exchange. On April 19 Sampath Bank as a corporate sponsor of the LankaBangla Finance said it had sold a total of […]
Future Challenge
May 06, 2010 (LBO) – Students of the science faculty of Sri Lanka’s Colombo University and the Rotaract Club have teamed up to bring students closer to the island’s corporate sector. The organizers say cubicles with lighting and fans and refreshment will be provided for company representative to interview undergraduates. Waiting rooms will have projectors […]
Sri Lanka coastal lagoons threatened by mangrove planting: researcher
May 06, 2010 (LBO) – Sri Lanka’s coastal lagoons could be threatened by rapid sedimentation as a side-effect of fresh mangroves planted by humans for protection against a possible future tsunami, a researcher has warned. “However this activity ranked highest among investments made both by government and non-governmental organizations,” Samarakoon told a forum organized by […]
Sri Lanka to send team for talks on GSP trade deal
May 06, 2010 (LBO) – Sri Lanka is to dispatch a team of officials to Brussels later this month to try to extend a key European Union trade deal that is to be withdrawn on human rights concerns, an official said. Foreign Minister Gamini Peiris told parliament the team for talks on May 20-21 will […]
Sri Lanka ex-army chief vows to expose war crimes
May 6, 2010 (AFP) – Sri Lanka’s ex-army chief Thursday vowed to “expose” any war crimes committed during the end of the country’s civil war last year and said he would go “out of his way” to assist with a probe. General Sarath Fonseka, who fell out with President Mahinda Rajapakse and quit after successfully […]
Sri Lanka appoints new deputy finance minister
May 05, 2010 (LBO) – Sri Lankan president and finance minister Mahinda Rajapaksa has appointed Sarath Amunugama, a former cabinet minister, as deputy minister of finance and planning, the president’s office said in a statement. Amunugama was among four cabinet ministers and six deputy ministers sworn in Wednesday following parliamentary polls in April won by […]