Category:
Call Up
March, 01 (LBO) – DFCC Bank is making a cash call of three billion rupees from shareholders to buy into an upcoming capital raising of Commercial Bank of Ceylon, the company said Thursday. DFCC gained 6.25 rupees to trade at 206.50 at mid-day Thursday. The bank is issuing one share for every four existing shares […]
‘s Dilmah shakes a cocktail with Ceylon tea
March 01, 2007 (LBO) – At the Water’s Edge in Battaramulla on a humid Monday evening, tea drinkers and cocktail fans find common ground ranging from chivas regal to green tea. Here in this upmarket golf club house, six kilometers from Colombo city, tea-tenders are busy dreaming up concoctions to serve up tea in variations that, […]
Odds On
March, 01 (LBO) – The cricket World Cup may not have started yet, but inside the online gaming industry, a virtual tournament is already on. Hot favorite to win the cup is Australia, having won two cups in a row, with odds of 5/2 followed by South Africa at 9/2. Sri Lanka comes third ranked […]
Hang Up
COLOMBO, March 1, 2007 (AFP) – Sri Lanka suspended sales of telephones and mobile phone cards in the embattled north and east on Thursday as troops stepped up attacks against Tiger rebels, an official said. The move was temporary and aimed at preventing guerrillas making use of phone services for military operations, telecoms watchdog chief […]
Markets stabilize after rout, as Wall St. and Shanghai rebound
NEW YORK, Feb 28, 2007 (AFP) – Global stock markets steadied Wednesday a day after the worst slide in years as Wall Street nerves were calmed by Fed chairman Ben Bernanke and Shanghai clawed back some of its massive losses. Latin American markets meanwhile rebounded on Wall Street’s coattails. Brazil’s Bovespa index shot up 1.73 […]
Sri Lankan warplanes bomb suspected Tiger positions
COLOMBO, March 1, 2007 (AFP) – Sri Lankan jets bombed suspected Tamil Tiger positions in northeast Sri Lanka on Thursday, a day after Colombo stepped up an offensive against the rebels, killing at least 18 people, a statement said.Air force MIG Jet aircraft attacked a Liberation Tigers of Tamil Eelam (LTTE) training camp in Vavuniya, […]
Sri Lanka airforce plane crash kills two
COLOMBO, March 1, 2007 (AFP) – A Sri Lankan air force trainee pilot and his instructor were killed Thursday when their plane crashed, an official said Thursday. The Chinese-built training aircraft crashed at Anuradhapura, 200 kilometers (125 miles) north of the capital during a routine exercise, an airforce official said, adding that investigations were underway. […]
Sri Lanka stock exchange blacks out foreign trading stats online
March, 01 (LBO) – Colombo Stock Exchange blacked out foreign trading statistics off automated trading terminals Thursday in a bid to reduce ‘market manipulation and discriminative practices’, the exchange said. “This is not an exercise to hide foreign buying and selling,” Rajeeva Bandaranaike, CSE’s head of marketing told LBO. “It would be shown at the […]
Re-insurance
February 28 (LBO) – Ceylinco Insurance Company is investing in a regional re-insurance firm by participating in a capital raising exercise the company told the Colombo Stock Exchange Wednesday. Asian Reinsurance Corporation (Asian Re) has invited Ceylinco Insurance to invest in a forthcoming effort by the re-insurer to raise 100 million dollars. Ceylinco Insurance Director […]
Lay Off
February 28 (LBO) – Ceylon Hotels Corporation shares closed 11 percent up Wednesday after the group announced it had reached agreement with labour unions to trim staff. Ceylon Hotels Corporation will spend 174 million on a voluntary retirement scheme and group company Kandy Hotels, which owns Hotel Suisse, will spend 51.6 million, the two hotels […]
Indian shares follows region down 3%
MUMBAI, Feb 28, 2007 (AFP) – Indian share prices fell 3.17 percent on Wednesday in line with a wave of selling that has swept global markets on fears of a US economic slowdown, dealers said. “The markets expectedly opened weak due to global weakness in a knee-jerk reaction,” said Atul Mehra, managing director of capital […]
Asian equity markets plunge on opening
SINGAPORE, Feb 28, 2007 (AFP) – Singapore share prices opened 4.82 percent lower Wednesday, in line with continued falls in regional markets. The Straits Times Index opened down 155.89 points or 4.82 percent at 3,076.13. Blue chips were among the big losers, including Singapore Airlines, down 4.32 percent and Singapore Press Holdings down 4.37 percent […]