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Banking Risks
June 19, 2012 (LBO) – Sri Lanka’s banking industry faces ‘very high’ economic and credit risk and the industry itself faces “very high risk” in its institutional framework amid regulatory conflicts, a rating agency has said. Standard & Poor’s, a rating agency gave Sri Lanka a score of ‘8’ on a scale where the highest […]
Finance Awards
June 19, 2012 (LBO) – Sri Lanka’s Commercial Bank of Ceylon and Bank of America Merrill Lynch had clinched awards for the best bank and best foreign investment bank for Sri Lanka given by Finance Asia, a financial magazine. It also did a large equity investment banking deal arranging the sale of a stake worth […]
SriLankan Airlines raises US$175mn from Islamic loan
June 19, 2012 (LBO) – Sri Lanka’s state-run SriLankan Airlines had raised 175 million US dollars through an Islamic loan from banks in the United Arab Emirates chairman Nishantha Wickramasinghe said. Mashreq Bank lead managed the loan, with four other UAE based banks chipping in, which will give four year financing for Sri Lankan Airlines […]
Sri Lanka allows private helicopter operations in Colombo
May 22, 2012 (LBO) – Sri Lanka’s Deccan Aviation said it had established a privately run helipad in Colombo city after authorities relaxed rules that prevented civil aircraft approaching within 10 miles of the capital. Deccan Aviation said Sri Lanka’s Civil Aviation Authority and the Ministry of Defence have allowed private operators to establish eight […]
ICC suspends Pakistani skipper Misbah from Galle Test
June 19, 2012 (LBO) – Pakistani captain Misbah-ul-Haq will miss the first Test against Sri Lanka in Galle, after his side was found guilty of bowling less overs, the International Cricket Council said. In March, Pakistan was also fined for a slow over-rate in the opening ODI of the Asia Cup against Bangladesh in Dhaka. […]
Sri Lanka recall Kulasekera, Perera for first Test
June 19, 2012 (LBO) – Sri Lanka Cricket have recalled fast bowler Nuwan Kulasekera for the first Test against Pakistan that begins on Friday, a statement said. Selectors led by Asantha de Mel also picked allrounder Jeevan Mendis, left-arm fast bowler Chanaka Welegedara and bowler Nuwan Pradeep for the 15-man squad, Sri Lanka Cricket said […]
Sri Lanka hosts India for one-day, Twenty20 cricket series in July
June 19, 2012 (LBO) – Sri Lanka will host neighbouring India for a one-day series and a Twenty20 cricket match from July, the island’s governing body said. The teams will play five one-day games across in Hambantota, Colombo and Pallekelle. The sole T20 game will be played at Pallekele, Sri Lanka Cricket said Tuesday. The […]
Sri Lankans are charitable, but within reason
June 19, 2012 (LBO) – Sri Lankans give generously to help the poor, the needy, the religious and their old schools, but fight shy on giving to civil society organisations, a preliminary study showed. However, the long-term potential of these practices – and where they may lead – remains an open question, the researchers noted. […]
” rating confirmed
June 18, 2012 (LBO) – Sri Lanka’s Fitch Ratings has confirmed state-run National Savings Bank’s ‘AAA(lka)’ rating with a stable outlook based on continued state support for the bank and keeping to its mandate. “The rating action follows the halting and subsequent reversal of, a transaction by NSB to acquire shares in The Finance Company […]
Sri Lanka shares up 0.13 percent
June 18, 2012 (LBO) – Sri Lankan share prices nudged up 6.89 points, after falling some 51 points during intra-day trade, despite buying interest in selected stocks, brokers said. New entrant, Ramboda Falls, rose 14.10 rupees to 24.10 rupees on trades of 706,888 shares, on speculative buying interest, brokers said. Lanka Hospitals, gained 1.10 rupees […]