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Banking Charter
Oct 08, 2011 (LBO) – Sri Lanka’s central bank has directed bank fully disclose rates, fees and penalties on banking services in three languages, set up a complaints procedure and take special care when dealing with disabled and elderly customers. “Elderly, disabled or customers with low financial literacy have the right to receive special attention […]
Research Buy
Oct 08, 2011 (LBO) – UK-based WPP Plc said it had bought full control of Lanka Market Research Bureau, a market research agency in which it only had 49 percent stake earlier. WPP bought the stock through its wholly owned research arm Kantar, the firm said in a London Stock Exchange filing. WPP is a […]
Climate talks inch ahead on aid despite discord
PANAMA CITY, October 8, 2011 (AFP) – Climate negotiators said Friday they made progress on laying out ways to help poor countries but deep differences remained on core issues ahead of a make-or-break talks in South Africa. With scientists warning that the planet is far behind on meeting pledges to control climate change, officials from […]
Presidential aide, bodyguard killed during Sri Lanka vote
October 8, 2011 (AFP) – A presidential aide and his bodyguard were shot dead in a gunbattle involving opposing factions of the Sri Lankan ruling party during Saturday’s local council elections in the capital, police said. Former lawmaker and advisor to the president, Bharatha Lakshman Premachandra, was pronounced dead shortly after being taken to hospital […]
‘s mid-term test
October 8, 2011 (AFP) – Voters in Sri Lanka’s capital went to the polls Saturday to elect a local municipal council, in a contest widely seen as a mid-term test for President Mahinda Rajapakse. Rajapaksa’s ruling coalition, the United People’s Freedom Alliance, is fielding candidates for the prestigious Colombo municipality as well as 22 others, […]
‘s role
LONDON, October 7, 2011 (AFP) – Britain’s defence minister Liam Fox ordered an inquiry Friday into the role of a friend and self-styled adviser after claims that he influences government business despite having no official role. Fox said the “wild allegations” would be probed after confirming that he met Adam Werritty on an official visit […]
Sri Lanka stocks end up 0.3-pct
Oct 07, 2011 (LBO) – Sri Lankan stocks ended higher after three days of falls with some buyers returning but continued activity in stocks that had drawn speculators, brokers said. John Keells Holdings shares were also heavily traded, accounting for the second highest turnover, closing flat at 200 rupees. There were two crossings or off-market […]
Enterprise Finance
Oct 07, 2011 (LBO) – Sri Lanka’s NDB Bank has got a 21 million US dollar loan from German development finance institution DEG mainly for lending to small and medium enterprises. The five-year long term loan from Deutsche Investitions – und Entwicklungsgesellschaft of Germany to will enable NDB Bank to enhance its lending especially to […]
Lending Support
Oct 07, 2011 (LBO) – Sri Lanka’s DFCC Bank has got a 30 million US dollar loan from a German development finance institution for lending to small businesses especially in the former north-east war zone. The loan from DEG (Deutsche Investitions – und Entwicklungsgesellschaft mbH) is repayable over eight years, a statement said. It will […]
Debt Rating
Oct 07, 2011 (LBO) – Fitch Ratings Lanka has assigned Hatton National Bank’s (HNB) proposed subordinated debentures of up to two billion rupees a National Long-Term rating of ‘A+(lka)’. “The issue is rated one notch below HNB’s National Long-Term rating reflecting its debt-like features,” a statement said. The full Fitch rating report follows: Fitch Ratings […]