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Sri Lanka shares down, Ceylinco group firms weaken but Seylan up
Dec 22, 2008 (LBO) – Sri Lankan shares fell Monday with trading volumes sinking to near six-year lows and most Ceylinco companies weakening after a report about a credit card scam in an unlisted group firm, but Seylan Bank bucked the trend, brokers said. Seylan Bank ended up one rupee at 18 rupees with 16,100 […]
New Home
Dec 22, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) said it plans to build a new head office to house its offices now scattered throughout Colombo port and will not buy a hotel as planned previously. The SLPA is trying to get more space inside the harbour for its cargo operations with volumes […]
Buoyed Profits
Dec 22, 2008 (LBO) – RAM Ratings has assigned a claims-paying ability rating of BB to Sri Lanka’s Co-operative Insurance Company Limited (CICL) with a stable outlook. It said in a statement the rating takes into account the company’s “moderate competitive position” and underwriting standards. “However, the rating is pressured by hefty overheads, inadequate reserving […]
Key Problem
Dec 22, 2008 (LBO) – Golden Key Credit Card Company is being rehabilitated after it was mismanaged and its chief executive has resigned, Sri Lanka’s Ceylinco group chief Lalith Kotelawala, said in a newspaper advertisement. Kotelawala said Khavan M Perera, chief executive director of Gold Key Credit Card Company Ltd has “admitted mismanagement and voluntarily […]
Fibre Optic
PARIS, December 21, 2008 (AFP) – France Telecom said Sunday that repair work has begun on damage to Mediterranean undersea cables that badly disrupted Internet and telephone communications between Europe, the Middle East and Asia.A 64-crew maintenance boat arrived on site, off the coast of Sicily, at 1400 GMT on Sunday following a two-day journey […]
Sri Lanka fighting kills another 66: military
December 22, 2008 (AFP) – At least 56 Tamil Tiger rebels and 10 government soldiers were killed in fresh fighting in northern Sri Lanka on Monday, the army said.About 40 soldiers and 90 rebels were wounded in the battles outside Kilinochchi, the besieged political capital of the Liberation Tigers of Tamil Eelam (LTTE), the military […]
Specialist Lender
Dec 21, 2008 (LBO) – Sri Lanka’s Edirisinghe Trust Investments (ETI), a registered finance company, has been upgraded by one notch to ‘BB-(lka)’ Fitch Ratings said, while its outlook has been lowered to ‘stable’ from ‘positive’ at the new credit level. Real estate, in the form of housing development projects and land, marketed to the […]
‘s World Cup, says ICC boss
MOHALI, December 21, 2008 (AFP) – The tense stand-off between India and Pakistan following the Mumbai attacks will not affect the 2011 World Cup in the region, cricket’s world chief said on Sunday. “I am sure that the subcontinent will stage the World Cup,” International Cricket Council (ICC) president David Morgan told reporters on the […]
Comm Link
PARIS, December 20, 2008 (AFP) – A French ship on Saturday took experts to repair broken undersea Mediterranean cables that caused severe disruption to telephone and Internet services across the Middle East and Asia, France Telecom said. But many operators said communications services had improved as alternative routes had been used to carry calls and […]
Comms Down
PARIS, December 19, 2008 (AFP) – Internet and telephone communications between Europe, the Middle East and Asia were severely disrupted Friday after three undersea cables were damaged in the Mediterranean, France Telecom said.“The causes of the cut, which is located in the Mediterranean between Sicily and Tunisia, on sections linking Sicily to Egypt, remain unclear,” […]
Sri Lanka navy destroys rebel arms ship: military
December 20, 2008 (AFP) – Sri Lanka’s navy on Saturday destroyed a Tamil Tiger vessel carrying arms and other supplies off the island’s northeastern coast, the defence ministry said.Navy patrol craft “completely destroyed” the vessel of the Liberation Tigers of Tamil Eelam (LTTE) off the coast of Mullaittivu in a pre-dawn assault, the ministry said […]
Sri Lanka shares mixed, selling pressure on JKH
Dec 19, 2008 (LBO) – Sri Lankan shares ended barely changed Friday with selling pressure continuing in John Keells Holdings which was the most actively traded stock, brokers said. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The indices moved in opposite directions with the All Share […]