Category:
Sri Lanka GSP+ extended till probe over
Dec 02, 2008 (LBO) – Trade concessions from the European Union have been extended till about the middle of next year until a probe on Sri Lanka’s eligibility is completed, an official said. International Trade Ministry Secretary S. Ranugge said the EU had informed the government of the decision. The probe which began in October […]
Sri Lanka opposition to take cabinet, central bank to task over oil hedge
Dec 02, 2008 (LBO) – Sri Lanka’ main opposition United National Party says the cabinet of ministers and the central bank is also responsible for a hedging deal that has gone wrong, and would use parliamentary powers to take them to task. Zero cost instruments had been recommended by a study group formed in 2006, […]
Sri Lanka monsoon floods affect 370,000: UN
GENEVA, December 2, 2008 (AFP) – Monsoon floods in the north of Sri Lanka have affected more than 370,000 people, with 71,000 being displaced, the United Nations said Tuesday.Tamil Tiger guerrillas, who began their struggle for a separate Tamil homeland in 1972, are currently facing the Sri Lankan army’s biggest ever offensive in the north.“The […]
US in recession since December 2007: official panel
WASHINGTON, December 2, 2008 (AFP) – A US recession began in December 2007, a panel of economists charged with the official designation of business cycles said Monday.But the gross domestic product (GDP) data may have been skewed by tax rebates that stimulated consumer spending, according to analysts. The NBER said “we do not identify economic […]
Sri Lanka shares resume slide, Ceylinco Insurance boosts trading volumes
Dec 01, 2008 (LBO) – Sri Lankan shares resumed their downward march Monday after two days of marginal gains last week, with a large transaction in Ceylinco Insurance propping up trading volumes, brokers said.Corporate earnings in the last quarter are down while the crash in commodity prices and high inflation and interest rates are seen […]
Citi Profits
Dec 01, 2008 (LBO) – Profits of the Sri Lanka unit of Citibank soared 134 percent in the 9-months to September 2008 to 1,276 million rupees, driven by a steep increase in fee income, while revenues grew 38.9 percent to 2,247 million rupees, its interim accounts showed.Citibank Sri Lanka had gross assets of 20.7 billion […]
Standard Numbers
Dec 01, 2008 (LBO) – Sri Lanka’s Standard Chartered Bank unit has reported a net profit increase of 55 percent to 1,803 million rupees in the 9-months ended September 2008, while revenues climbed 29 percent to 7,338 million rupees. The bank had gross assets of 78.9 billion rupees and net assets of 12.7 billion rupees […]
State Facts
Dec 01, 2008 (LBO) – Net profits of state-run Bank of Ceylon fell 5.6 percent in the 9-months to September while revenues grew 20.6 percent to 43.9 billion rupees, interim accounts published by the bank showed. Deposits grew to 325.6 billion rupees from 310.4 billion rupees in the nine months. Savings accounts grew to 141.3 […]
Tele Rate
Dec 01, 2008 (LBO) – Fitch Ratings has confirmed Sri Lanka Telecom’s ‘B+’ long term foreign currency credit rating, with a stable outlook, and says it is increasing market share in the mobile market, though margins are narrowing. “The company also enjoys a dominant share of the international long-distance and IP and data-related services.” In […]
Though shaken by siege, Mumbai comes back to life
MUMBAI, December 1, 2008 (AFP) – For 60 hours, Mumbai residents watched aghast as gunmen opened fire in a station and hospital, seizing two top hotels and a Jewish centre in a coordinated assault that left at least 172 people dead. But soon after an attack described by many in the media here as “India’s […]
Sri Lanka takes another town in battle for Tiger capital: military
December 1, 2008 (AFP) – Sri Lankan government forces on Monday wrested control over another town from Tamil Tiger rebels in their offensive to capture the political capital of the guerrillas, the defence ministry said.The guerrillas, who began their struggle for a separate Tamil homeland in 1972, are facing the Sri Lankan army’s biggest ever […]
Sri Lanka grind out final ODI win for whitewash
HARARE, November 30, 2008 (AFP) – Sri Lanka rounded out a 5-0 series victory in Zimbabwe at Harare Sports Club here Sunday, winning by just 19 runs after struggling to 152 all out having been put into bat.Zimbabwe, whose spinners had given them a chance on a lifeless pitch at least to try to prevent […]