Category:
Gold price storms to record above 1,200 dollars
LONDON, December 1, 2009 (AFP) – The price of gold reached above 1,200 dollars an ounce for the first time on Tuesday as a weak US currency pushed up demand for the precious metal viewed as a safe-haven investment, analysts said. Gold struck a record high 1,201.63 dollars an ounce on the London Bullion Market […]
Strangle Hold
Dec 01, 2009 (LBO) – First, we need to understand that debt markets broadly require three enabling factors, the need (or demand) for debt capital, a source (or supply) of debt capital, and the accompanying intermediary infrastructure that is required to put the two together. As far as the private sector corporate debt market is […]
Indian police arrest politician in huge fraud probe
PATNA, November 30, 2009 (AFP) – Indian police Monday arrested a regional politician suspected of embezzling up to 650 million dollars during his five years in ministerial posts in an impoverished eastern state, officials said. Madhu Koda was taken into custody in his constituency of Chaibasa, in the state of Jharkhand, on allegations of possessing […]
‘s camp inmates set free
VAVUNIYA, December 1, 2009 (AFP) – Tens of thousands of Sri Lankan civilians held in state-run camps following the island’s ethnic conflict were allowed to walk free Tuesday, ending their internationally-condemned detention.Men, women and children were given their first opportunity to leave the northern Manik Farm complex since their incarceration over seven months ago. But […]
‘s camp inmates free to leave Tuesday: official
November 30, 2009 (AFP) – Sri Lanka will Tuesday allow thousands of civilians to leave state-run camps where they have been detained since the military’s victory over Tamil Tiger separatist rebels, a senior official said.About 128,000 men, women and children who were displaced during the final stages of the conflict remain in heavily guarded military […]
Sri Lanka DFCC Bank stake sold by Galleon
Nov 30, 2009 (LBO) – Sri Lankan shares ended higher Monday with trading boosted by the sale of shares in DFCC by the Galleon hedge fund of billionaire Raj Rajaratnam, facing insider dealing charges in the US, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 […]
Going Green
Nov 30, 2009 (LBO) – A new port being built in Hambantota in southern Sri Lanka will use renewable energy for some of its power requirements, Sri Lanka Ports Authority chairman Priyath Wickrama said.“This is going to be green port,” he said. “We’re going to use solar power for all street lighting.It will be an […]
Capital Strength
Nov 30, 2009 (LBO) – Fitch Ratings said it has confirmed the National Long-term rating of Sri Lanka’s Senkadagala Finance Company (SFC) at ‘BBB+(lka)’ with a stable outlook. “SFC’s ratings reflect the strong capital position it accumulated over periods of high profits,” the ratings agency said in a statement. “However, return on assets (ROA) saw […]
Leasing Upturn
Nov 30, 2009 (LBO) – People’s Leasing Company, Sri Lanka’s largest leasing firm, says demand for new leases is picking up with interest also from former war-torn regions, especially in the East of the country. “We think there is some appetite for credit now and we have witnessed some growth in credit and we are […]
Sri Lanka Renuka Agri IPO draws over Rs3bn
Nov 30, 2009 (LBO) – A 270 million rupees initial public offer of Renuka Agrifoods, a firm that makes coconut-based food products, received applications worth 3.1 billion rupees, its managers said. Merchant Bank of Sri Lanka, managers to the issue which closed Friday afternoon, the opening day itself, said they received 5,016 applications for 1,386 […]
” rating confirmed, outlook negative
Nov 30, 2009 (LBO) – Fitch Ratings Lanka said it has confirmed Hayleys MGT Knitting Mills’ (HMGT) National Long-term rating at ‘BBB+(lka)’ and lowered the outlook to negative from stable. Fitch said in a statement the fabric maker faces possible loss of duty free access to key European markets and expiry of a tax holiday […]
Sri Lanka high tariffs hurting investors, poor: US envoy
Nov 30, 2009 (LBO) – High import tariffs maintained by Sri Lanka not only deter investors but also hurt the poor, the American envoy to the island has said.High import tariffs and an economically-damaging tax system hurt not only individual companies, but economic growth in general, said US ambassador Patricia Butenis. “If a company here […]