Category:
Dubai debt woes sting Gulf financial sector
KUWAIT CITY, November 28, 2009 (AFP) – Gulf banks, already reeling under defaults by two major Saudi groups and Kuwaiti investment firms, are bracing for more serious trouble with the unfolding Dubai debt crisis, analysts said on Saturday.The banks, which have already made huge provisions against other exposure, will be forced to make even more […]
India gives conditional green light to emission cuts
NEW DELHI, November 28, 2009 (AFP) – Indian Premier Manmohan Singh said Saturday he was willing to commit his country to “ambitious” global carbon emission cuts, provided others shared the burden.Home to nearly 1.2 billion people, India is the only major greenhouse gas emitting nation yet to announce figures on reining in its carbon output, […]
‘s Tata Motors swings to quarterly profit
MUMBAI, November 27, 2009 (AFP) – India’s leading vehicle company, Tata Motors, reported Friday it had swung to a consolidated quarterly net profit, helped by a better performance by its premium car marques Jaguar and Land Rover.Tata Motors’ net profit, including British motoring icons Jaguar and Land Rover, totalled 217.8 million rupees (4.65 million dollars) […]
‘s ex-military chief says will run for presidency
November 28, 2009 (AFP) – Sri Lanka’s ex-military chief has said he plans to run for the presidency in January elections in a bid to unseat his former boss Mahinda Rajapakse.Meanwhile, a group of opposition parties met elections commissioner Dayananda Dissanayake late Friday after he formally announced the date of the presidential poll, an opposition […]
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Nov 27, 2009 (LBO) – The Sri Lanka rupee started trading in a band Friday after a state bank that usually acts for the monetary authority quoted a wide two way price, dealers said. Many high inflation countries which are prone to macro-economic instability and balance of payments crisis, have experimented with soft pegs of […]
Sri Lanka stocks rebound, Galleon sells Ceylon Leather
Nov 27, 2009 (LBO) – Sri Lankan shares made a strong recovery Friday while Raj Rajaratnam, the billionaire fund manager accused of insider dealing in the US, sold out of Ceylon Leather Products, brokers and analysts said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All […]
Southern Chance
Nov 27, 2009 (LBO) – The Sri Lanka Ports Authority will issue a request for proposals for investments in a new port being built in the island’s southern Hambantota region by the second week of December, an official said.SLPA chairman Priyath Wickrama said business opportunities in the new port range from cement grinding and bagging, […]
Troubled Times
Nov 27, 2009 (LBO) – Sri Lanka’s The Finance Company, a firm in the troubled Ceylinco group that is being re-structured under regulatory supervision, has been downgraded to ‘C(lka)’ or one notch above default, Fitch Ratings Lanka said.Fitch said The Finance Company’s national rating and its subordinate debenture’s rating has both been downgrade to ‘C(lka)’.Both […]
‘s eco-tourism
Nov 27, 2009 (LBO) – A photographic exhibition in Colombo makes a case for Sri Lanka eco-tourism, encouraging visitors to experience the island’s rich biodiversity, within a renewed climate of peace in the country. The exhibition is on at the Alliance Francaise in Colombo until December 15, 2009. From Little Egrets in Mannar, Spinner Dolphins […]
Sri Lanka farmers connect to markets on mobile phones
Nov 27, 2009 (LBO) – A trial Sri Lankan commodity trade matching portal using mobile phones to improve marketing of farmer produce will need private sector investment to be sustainable, an official said. Chitranganie Mubarak, a Senior Programme Head of the Information Communications Technology Agency (ICTA), said the project is part of efforts to use […]
Sri Lanka worried by fading Murali magic
KANPUR, November 27, 2009 (AFP) – The indifferent form of spin legend Muttiah Muralitharan is a cause of worry going into the series decider in Mumbai, Sri Lankan captain Kumar Sangakkara said here on Friday.“It does bother us when our star bowler does not pick too many wickets when we know he can,” Sangakkara said […]
India thrash Sri Lanka to claim 100th Test win
KANPUR, November 27, 2009 (AFP) – India thumped Sri Lanka by an innings and 144 runs on the fourth day of the second cricket Test here on Friday to take a 1-0 lead in the three-match series. It was the 100th Test victory for India and the biggest against Sri Lanka, bettering the previous win […]