Category:
Double Profits
May 23, 2009 (LBO) – Sri Lanka’s state-run Bank of Ceylon’s profits for March 2009 quarter rose 106 percent to 957 million rupees, with foreign exchange gains and interest income from high yielding government securities. Bank of Ceylon’s deposits grew 5.1 percent to 332 million from December 2008 to March 2009. Group gross assets grew […]
Guardian Change
May 23, 2009 (LBO) – The Merchant Bank of Sri Lanka (MBSL) has been appointed as managing agents of the troubled The Finance Company (TFC), taking over from another state-owned entity, Lankaputhra Development Bank (LDB), the Central Bank said. It said in a statement that Lankaputhra Bank had stabilized the situation at TFC and brought […]
Sri Lanka needs help to meet refugee challenge: UN chief
May 23, 2009 (LBO) – The UN chief Ban Ki-moon who pressed for access to camps housing nearly 300,000 refugees in northern Sri Lanka says more help is needed to meet their needs while a longer term solution is needed to permanently solve the conflict. “If equality is not delivered history could repeat itself,” Ban […]
UN chief in Sri Lanka amid fears for civilians
May 22, 2009 (AFP) – UN chief Ban Ki-moon arrived Friday in Sri Lanka to press for humanitarian access to civilians displaced by the separatist conflict, as the island’s president dismissed international concerns.Ban is the first world leader to visit since Colombo’s assertion earlier this week that the Tamil Tigers’ bloody decades-long crusade for an […]
Sri Lankan stocks up 12.5 pct in the week, rupee stable
May 22, 2009 (LBO) – Sri Lankan shares were subdued on profit taking Friday after this week’s bull-run following the government’s victory in the war against Tamil Tiger rebels while the rupee remained stable against the greenback, brokers and dealers said. The spot dollar remained around 114.90/115.10 levels by late afternoon trade after strengthening against […]
Fairer Chance
May 22, 2009 (LBO) – Sri Lanka’s central bank said it has relaxed the criteria for bids for a one-third stake in the troubled Seylan Bank after a poor response from prospective investors to its original call for proposals.It said in a statement the Monetary Board of the Central Bank has decided to invite fresh […]
Sri Lankan April tourist arrivals slide
May 22, 2009 (LBO) – The number of tourists visiting Sri Lanka in April 2009 slid 12.4 percent to 26,054 from a year ago, with sharp falls from key markets in Europe and India, the island’s tourism promotion office said. Maldivian arrivals dipped marginally by 2.7 percent to 9,160, while Pakistani arrivals almost halved to […]
Sri Lanka tea prices hit by stronger rupee, lower quality
May 22, 2009 (LBO) – Sri Lankan tea prices fell at this week’s auction with a sudden strengthening of the rupee adding to downward price pressure caused by bigger volumes and lower quality, brokers said. Asia Siyaka also said tea prices generally declined for most categories due to lower quality following a holiday period. “The […]
Tele Rating
May 22, 2009 (LBO) – Standard & Poor’s Ratings Services said it has lowered its outlook on Sri Lanka Telecom’s (SLT) rating to negative from stable while confirming its ‘B+’ corporate credit rating and long-term senior unsecured debt rating. The rating action was made in step with S&P’s lowering of Sri Lanka’s sovereign rating to […]
Sri Lanka president dismisses threat of war crimes charges
May 22, 2009 (AFP) – Sri Lanka’s President Mahinda Rajapakse on Friday brushed off calls for an investigation into alleged war crimes committed by government troops in their offensive against Tamil Tiger rebels.“There are some who tried to stop our military campaign by threatening to haul us before war crimes tribunals,” Rajapakse said in a […]
Sri Lanka lost over 6,200 troops to beat Tigers: report
May 22, 2009 (AFP) – More than 6,200 Sri Lankan soldiers were killed and nearly 30,000 wounded in security forces’ final offensive to completely defeat Tamil Tiger separatists, state television reported Friday. Rajapakse, who is also President Mahinda Rajapakse’s brother, said a total of 23,790 military men and women had been killed since 1981. He […]
India seeks death certificate of Tamil Tiger leader: official
NEW DELHI, May 21, 2009 (AFP) – India on Thursday asked Sri Lanka to provide the death certificate for Tamil Tiger leader Velupillai Prabhakaran, a foreign ministry official told AFP. The separatist rebel chief, who was reported killed by Sri Lankan forces earlier this week, was wanted in India for planning the 1991 assassination of […]