Category:
Sri Lanka shares becalmed, profit taking seen
Sept 18, 2009 (LBO) – Sri Lankan stocks ended flat Friday with trading heavy but volatile and some profit taking seen and investors buying blue chips in anticipation of future foreign buying, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index […]
Lower Risk
Sept 18, 2009 (LBO) – International underwriters in London have further lowered the war risk rating for Sri Lanka following the defeat by government forces of Tamil Tigers, and appear to have excluded Colombo port, a senior official said.The London market’s Joint Cargo Committee (JCC) has lowered the risk rating from 3.0 to 2.9 – […]
Craft Claim
Sept 18, 2009 (LBO) – Sri Lanka’s Colombo Dockyard said it rejected claims it faced a five billion rupee claim over unpaid taxes and customs duties on sale of vessels it built and that it was challenging a court petition by customs.The shipyard said in a stock exchange filing that it had settled all taxes, […]
Name Change
Sep 18, 2009 (LBO) – Ceylinco Finance, a Sri Lankan finance company that was part of the troubled Ceylinco group, has changed its name to Nation Lanka Finance to make a fresh start, a senior company official said. “The company is heading towards a new direction,” N B S B Balalle, chairman of Nation Lanka […]
Risk Monitoring
Sept 18, 2009 (LBO) – Sri Lanka’s Bartleet TransCapital, has linked up with Aprivaa and risk consulting and analytical service provider for banks, insurers and asset managers, the company said.“The ever increasing complexity of products in the financial services sphere and the volatility of financial markets, make risk management and regulatory compliance of utmost importance, […]
Sri Lanka tea prices up on supply concerns
Sept 18, 2009 (LBO) – Sri Lankan tea prices were again propelled higher at the Colombo auctions this week by supply concerns stemming from a worker go-slow on upcountry estates and a global production shortfall, brokers said. Auctions prices are likely to stay high as drought in major tea exporting countries had reduced the crop […]
Economic Impact
Sep 18, 2009 (LBO) – The 28th LBR-LBO chief executive forum debated the economic impact of public interest litigation, with a four member panel made up of legal and private sector representatives. Had the Business Chambers followed the above strategy, which in fact was suggested to them, they and their members could have minimized the […]
Disputed Justice
Sept 18, 2009 (LBO) – Sri Lanka’s private sector should have been more forceful in challenging a chief judge seen as brilliant but dominating whose judgments raised questions about the process of public interest litigation, a public forum was told. Affected businesses could have asked for immediate reviews of what they considered bad decisions of […]
Public Debate
Sept 18, 2009 (LBO) – The 28th LBR-LBO chief executive forum debated the economic impact of public interest litigation, with a four member panel made up of legal and private sector representatives. Presentations were made by Rohan Samarajiva, head of LirneAsia, a think tank and a former telecom regulator, Preethi Jayawardena chief executive of Chemanex, […]
Tele Chase
NEW DELHI, Sept 18 (Asia Pulse) – Luxembourg-based Millicom has rejected Indian telecom PSU BSNL’s bid to acquire its operations in Sri Lanka, but India’s largest private mobile operator Bharti Airtel has entered the ring. Bharti Airtel, which is in talks with South African telecom firm MTN for a possible deal to create a US$23 […]
Sri Lanka power IPO draws over Rs1.6bn
Sept 18, 2009 (LBO) – An initial public offering for 31.3 million shares by Sri Lanka’s Hemas Power has attracted applications worth over 1.68 billion rupees, the company representatives said in a stock exchange filing. A total of 5,000 valid applications for over 84.2 million shares were received, SSP Corporate Services, secretaries to the issue, […]
Cricket: Sri Lanka skipper Sangakkara hails bowlers
JOHANNESBURG, September 17, 2009 (AFP) – Sri Lanka skipper Kumar Sangakkara hailed his bowlers Thursday ahead of the ICC 2009 Champions Trophy in South Africa.“We are confident although our recent wins are not going to count for anything. All the teams here are professional units and whether they played recently or not won’t matter.” The […]