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Top Marks
July 07, 2009 (LBO) – Sri Lanka’s Commercial Bank said it has been named the island’s ‘Best Bank’ by Hong Kong based ˜FinanceAsia,’ a regional financial publication. The publication’s latest rankings are based on financial performance for the 2008/9 period, the bank said in a statement. The evaluation includes criteria such as capital adequacy, liquidity […]
Sri Lanka coconut cultivators ask for freedom
July 07, 2009 (LBO) – Sri Lankan coconut cultivators have demanded they be allowed to sell land on which growing coconuts has become unremunerative as nut prices have fallen.Coconut is an important part of the diet of Sri Lankans and the island’s crop is not enough to feed both industries as well as domestic consumers. […]
Tele Targets
July 7, 2009 (LBO) – Axiata, the parent of Dialog Telekom may offer 200 million US dollars for the Sri Lanka unit of Millicom International Cellullar, a media report said.Bloomberg news citing two people with knowledge on the deal said Millicom’s Cambodia operations may be offered 500 million US dollars. Bloomberg quoted Millicom chief financial […]
Indian budget deficit spooks markets
MUMBAI, July 6, 2009 (AFP) – India’s stock markets on Monday gave a thumbs-down to the government’s annual budget, spooked by a rising fiscal deficit and saying there was no clarity on boosting foreign investment. Economists said the lack of a clear plan for the sale of government stakes in state-run enterprises also disappointed, as […]
Herath spins Sri Lanka to dramatic Test win
GALLE, July 7, 2009 (AFP) – Rangana Herath skittled Pakistan with his left-arm spin to hand Sri Lanka a dramatic 50-run victory in the first cricket Test here on Tuesday.Herath grabbed 4-15 as Pakistan, chasing a modest target of 168, collapsed from a seemingly impregnable 71-2 to 117 all out in their second innings before […]
‘s Mendis signs for Aussie T20
MELBOURNE, July 7, 2009 (AFP) – Sri Lankan spin sensation Ajantha Mendis has signed for the South Australia Redbacks in this season’s domestic Twenty20 competition, officials said Tuesday.High performance manager Jamie Cox said securing the 24-year-old, whose unorthodox style helped Sri Lanka reach last month’s World Twenty20 final, was a huge boost for his side. […]
Pakistan sight win after rookies tame Sri Lanka
GALLE, July 6, 2009 (AFP) – Debutants Mohammad Aamer and Saeed Ajmal combined to wreck Sri Lanka’s batting and put Pakistan on the road to victory in the first cricket Test here on Monday. The pace-spin duo grabbed three wickets each as Sri Lanka were bowled out for 217 in their second innings on the […]
Listing Deadline
July 5, 2009 (LBO) – Sri Lanka’s registered finance companies will have to be listed by June 30, 2011 as part of a prudential regulation framework promoted by the Central Bank, a media report said.The Sunday Island newspaper quoted Central Bank governor Nivard Cabraal as saying that out of 34 registered finance companies only eight […]
‘s Arugam Bay waves again
July 6, 2009, ARUGAM BAY (LBO) – Arugam Bay in eastern Sri Lanka is coming to life after the end of a 30-year war in Sri Lanka cleared the way for surfers from around the world to ride its waves again.Hotels in the area were packed to capacity this week when surfers flocked to the […]
Sri Lanka rules out removing rice price controls
July 06, 2009 (LBO) – Sri Lanka’s government which restricts the import of rice and has imposed high tariffs on substitute carbohydrates says ‘price controls’ on rice will remain, blaming a milling oligopoly for high prices. Potatoes are charged a 15 rupee tax per kilogram. The government also allocates money to buy rice to keep […]
” return to 9.0 percent growth
NEW DELHI, July 6, 2009 (AFP) – India’s finance minister targeted a return to 9.0 percent economic growth “at the earliest” in a budget speech Monday that suggested the country had seen off the worst of the global financial crisis.But in announcing increased funding for farmers and poverty alleviation programmes, Pranab Mukherjee also warned that […]
Australia pressures Malaysia on people-smuggling
KUALA LUMPUR, July 6, 2009 (AFP) – Malaysia on Monday appealed for international help to curb people-smuggling, amid talks with Australian leaders who are pushing for action to close down illegal migration routes.Prime Minister Kevin Rudd is due to arrive here later Monday to pressure Malaysia on the thousands of illegal immigrants hit by wars […]