Category:
Fuel Delivery
July 08, 2009 (LBO) – The Sri Lankan unit of Indian Oil Corporation said it has chartered a bunker barge to supply ship fuel in Colombo port as sales were increasing.LIOC is the newest player in Colombo port’s bunker business. Competition in the business has been growing after a court order ended an effective monopoly […]
Sri Lanka state revenues down 9.6-pct, deficit up in first 4-months
July 8, 2009 (LBO) – Sri Lanka state revenues fell 9.6 percent while day-to-day expenditure zoomed 34.5 percent driving the revenue deficit up an unprecedented 528 percent to 118.2 billion rupees, the latest official data has revealed. The government had managed to increase capital expenditure by 9.0 percent to 74.6 billion rupees in the period. […]
Sri Lanka foreign aid pipeline narrows
July 8, 2009 (LBO) – Sri Lanka’s foreign aid pipeline from Western nations showed signs of narrowing amid deteriorating relations, though draw downs of previously committed aid continued apace, official data shows.Analysts say fresh aid commitments could arrest the trend later in the year.The power ministry said in June that China was giving an 891 […]
Sri Lanka stocks favourite of investor Jim Rogers: report
July 7, 2009 (LBO) – Head of Rogers Holdings, Jim Rogers will only buy Sri Lankan stocks and he is getting out of dollar assets because the Federal Reserve is printing money and the US government is deficit spending, a media report said. Stocks in Sri Lanka are “the only equities” Rogers would “consider buying […]
Sri Lankan shares slide for sixth straight day
July 07, 2009 (LBO) – Sri Lankan stocks continued to tumble for the sixth straight trading day Tuesday as investors stayed on the sidelines waiting for the market to settle down from a post-war bull-run, brokers said. The benchmark Colombo All Share Price Index closed down 0.32 percent (7.78 points) to end at 2,392.11 while […]
Slow Down
July 07, 2009 (LBO) – Sri Lanka’s commercial banks are likely to experience a slowdown in growth and profitability pressures from fresh asset quality problems, Fitch Ratings said. The rating agency said that it believes that if the policy environment improves, the banks’ balance sheets will be able to absorb the stress over the next […]
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. […]