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Sri Lanka, India in mutual forex reserve investment pact
July 24, 2014 (LBO) – Central Bank of Sri Lanka and the Reserve Bank of India has inked a deal to buy up to 500 million dollars worth of securities in each other’s governments, in a bid to diversify reserve assets.July 24, 2014 (LBO) – Central Bank of Sri Lanka and the Reserve Bank of […]
Cricket: Steyn strikes early in second Sri Lanka Test
COLOMBO, July 24, 2014 (AFP) – Dale Steyn took two wickets in two balls to give South Africa a flying start in the series-deciding second and final Test against Sri Lanka in Colombo on Thursday.Steyn, the star of South Africa’s big win in the first Test at Galle, sent back opener Upul Tharanga and big-hitter […]
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July 23, 2014 (LBO) – Sri Lanka has a strong record in debt repayment, but interest costs and debt levels are high compared to revenues and private external commercial borrowings are adding to state borrowings, a report by Moody’s a rating agency said. Some analysts have said that Sri Lanka’s key problem is a large […]
Sri Lanka shares close down 0.2-pct
July 23, 2014 (LBO) – Sri Lanka’s shares closed 0.18 percent lower with index heavy John Keells Holdings losing ground despite net foreign buying, brokers said. Foreign investors bought 303.72 million rupees worth shares while selling 60.94 million rupees worth shares. John Keells Holdings closed 4.60 rupees lower at 239.90 rupees, contributing most to the […]
Mortgage Gains
July 23, 2014 (LBO) – Profits at Sri Lanka’s HDFC Bank, a mortgage lender, surged over five fold to 82 million rupees in the June 2014 quarter from a year earlier as borrowing costs fell, interim accounts showed. Defaulted loans are periodically settled against member balances. The bank reported earnings of 1.28 rupees per share […]
Submarine Plan
July 23, 2014 (LBO) – Subway, a US-based fast food franchise which launched in Sri Lanka this week is planning a 30-store chain in the island over the next five years, officials said. “All we see is an aggressive growth plan for Sri Lanka, it™s up to the local entrepreneurs to join with us for […]
Rape Probe
COLOMBO, July 22, 2014 (AFP) – Sri Lankan police were Tuesday investigating the gang-rape of an 11-year-old girl allegedly by seven sailors in the island’s former war zone, a spokesman said. The victim, who cannot be identified according to Sri Lankan laws, had been repeatedly raped by more than one man, police spokesman Ajith Rohana […]
MH17 has strong echoes of 1983 Korean tragedy
SEOUL, July 23, 2014 (AFP) – The downing of a Malaysian airliner over Ukraine has stirred memories of a 1983 incident when a Korean passenger jet was shot down by Soviet fighters in what then US president Ronald Reagan called a mid-air “massacre”.As with the Malaysian plane, the loss of life was total, with all […]
Cricket: Sri Lanka pacer Eranga ruled out of second Test
COLOMBO, July 22, 2014 (AFP) – Sri Lanka’s frontline seamer Shaminda Eranga was Tuesday ruled out of the deciding second Test against South Africa due to a hand injury, dealing a fresh blow to the beleaguered hosts.Eranga, 28, tore the webbing between the thumb and index finger of his right hand while fielding on day […]
Sri Lanka president skips Commonwealth Games
COLOMBO, July 22, 2014 (AFP) – Sri Lanka President Mahinda Rajapakse will skip the Commonwealth Games starting this week in Glasgow despite being chair of the bloc, his office said Tuesday, after activists threatened to protest at his attendance.Rajapakse’s military crushed rebels fighting for a separate homeland for ethnic minority Tamils in 2009 following a […]