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Sri Lanka fighting kills over 100 Tigers: govt
March 8, 2009 (AFP) – More than 100 Tamil Tiger rebels have been killed in two days of fighting in Sri Lanka as they tried to break a military stranglehold, the defence ministry said Sunday.They died when the army beat back a series of counter-attacks by the Tiger rebels against advancing government forces in the […]
Psychologists help Sri Lanka cricketers
March 8, 2009 (AFP) – Sri Lanka has hired psychologists to help its national cricket team overcome the trauma they suffered in the militant attacks in Pakistan, a doctor said Sunday. The four specialists would work “to mentally boost our cricketers, help them heal their mental scars and overcome the tragedy,” Geethanjana Mendis, head of […]
Docking Trends
March 07, 2009 (LBO) – Sri Lankan ship builder Colombo Dockyard said net profit rose 32 percent to almost 1.5 billion rupees in 2008 from the year before, as it reaped the benefits of the shipping boom earlier in the year. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send […]
Sri Lanka tea prices rise as output falls
March 07, 2009 (LBO) – Sri Lankan tea prices rose at this week’s Colombo auctions mainly because of a shortfall in crop as well as improved quality, brokers said.Prices are likely to remain strong if the present dry weather continues and curtails the crop, they said. About 50 invoices of high grown teas from regional […]
Sri Lanka fighting kills 32 Tigers: ministry
March 7, 2009 (AFP) – At least 32 Tamil Tigers were killed in heavy fighting in Sri Lanka’s embattled northeast, where government troops have cornered the rebels, the defence ministry said Saturday. “The LTTE (Liberation Tigers of Tamil Eelam) end game is reaching its final phase,” the ministry said in a statement, adding that dozens […]
Media rights group presses Sri Lanka
WASHINGTON, March 7, 2009 (AFP) – A rights group on Friday urged Sri Lanka to thoroughly investigate recent attacks against the media, saying it was disappointed with the government’s stance.Board members of the New York-based Committee to Protect Journalists (CPJ) met in Washington on Thursday with the Sri Lankan ambassador, Jaliya Wickramasuriya, to lodge their […]
Sri Lanka stock trading buoyed by Carson deal
March 06, 2009 (LBO) – Sri Lankan shares ended firmer Friday with trading volumes boosted by large transfers of shares within the Carson Cymberbatch conglomerate, brokers said.Seylan Merchant Leasing rose 16 percent or 1.25 to end at 9.25 rupees while Seylan Merchant Bank rose eight percent or 20 cents to end at 2.70. Seylan Merchant […]
New Lease
Mar 06, 2009 (LBO) – A Sri Lankan motor company is offering a ‘buy now, pay later’ auto leasing scheme, which it hopes will boost sales that have plunged with the economic slowdown. The new leasing facility introduced by Associated Motorways (AMW) allows potential customers to purchase a Suzuki M800 car today and commence lease […]
Flat Rate
Mar 06, 2009 (LBO) – Commercial Bank of Ceylon group has reported profits of 4,118.9 million rupees for the year ended December 2008, lower by 0.7 percent, with revenues growing 24.8 percent to 43.9 billion rupees. Group interest income grew 21.9 percent to 37.2 billion rupees, interest expense grew 28.44 percent to 24.3 billion and […]
Management Chat
Mar 06, 2009 (LBO) – Merchant Bank of Sri Lanka, (MBSL) a unit of state-run Bank of Ceylon, said it was in talks with the regulator to manage and rehabilitate Ceylinco Savings Bank, a member of the island’s troubled Ceylinco group. In another development Seylan Merchant Bank said it was in talks with People’s Leasing […]
Leasing Sale
March 06, 2009 (LBO) – Sri Lanka’s largest leasing company is in talks to buy a leasing company in the island’s Ceylinco group, a listed investment bank in the group said in a stock exchange filing.Seylan Merchant Bank is in talks with People’s Leasing Company, a unit of state-run People’s Bank, to sell a controlling […]
Intervention
Mar 06, 2009 (LBO) – Sri Lanka’s central bank said it is looking for managing agents for two registered finance companies in the troubled Ceylinco group and a management shake-up is on the cards for another. Managing agents were being sought for Asian Finance and Ceylinco Investment and Realty under central bank monitoring while the […]