All Blogs
India proposes to allow more private banks
MUMBAI, August 29, 2011 (AFP) – India’s central bank on Monday outlined proposals to allow more private players in the banking sector to foster greater competition and widen the availability of banking services. India’s state-run banks dominate the sector and inefficient practices and bloated workforces have brought calls for more private sector capital to reinvigorate […]
Aussies, Sri Lanka set for tough Test battle
GALLE, August 29, 2011 (AFP) – Rival captains Michael Clarke and Tillakaratne Dilshan will look to lead their young teams from the front when Australia and Sri Lanka begin their three-Test series on Wednesday. Dilshan will miss the experience of prolific off-spinner Muttiah Muralitharan, Test cricket’s leading bowler with 800 wickets, who retired from the […]
Sri Lanka inflation eases to 7.0-pct
Aug 30, 2011 (LBO) – Inflation in Sri Lanka’s capital Colombo rose 7. 0 percent in August 2011, easing from 7.5 percent in July, the government’s statistics office said. The revised index fell 0.3 percent in the month. The food and non-alcoholic beverages fell 0. 7 percent in the month, and non-food categories fell 0.1 […]
Sri Lanka forex reserves US$8.1bn in July
Aug 29, 2011 (LBO) – Sri Lanka’s foreign reserves rose to 8. 1 billion US dollars in July 2011 boosted with the sale of a sovereign bond, up from 7. 5 billion US dollars in June, the Central Bank said. Based on the previous 12-month, average imports of 1,398 million dollars a month, gross official […]
Sri Lanka stocks down, heavy trading in HVA
Aug 29, 2011 (LBO) – Sri Lanka’s stock market fell Monday after two days of gains with heavy trading seen in newly listed tea exporter HVA Foods which went over 46 rupees after recently trading below its issue price, brokers said. The main All Share Price Index closed at 6,837.35, down 0.23 percent (15.61 points) […]
Asset Quality
Aug 29, 2011 (LBO) – Fitch Ratings Lanka has confirmed Sampath Bank’s (SB) National Long-Term rating at ‘AA-(lka)’ with a positive outlook. “The affirmation reflects SB’s strong asset quality and profitability, its comfortable equity buffer maintained against future loan losses, as well as its rapid growth from 2010,” the rating agency said in a statement. […]
Top Rating
Aug 29, 2011 (LBO) – HSBC Sri Lanka’s ‘AAA(lka)’ rating has been confirmed by Fitch Ratings Lanka with a stable outlook based on the strength of its parent which has a rating higher than the island’s sovereign rating. Fitch said HSBC Sri Lanka branch was part of the same legal entity of Hong Kong & […]
Karachi bloodshed threatens havoc for Pakistan
KARACHI, August 29, 2011 (AFP) – Murder gangs rooted in Karachi’s boiling cauldron of ethnic politics are waging a savage fight for power and space in Pakistan’s financial capital, threatening to destabilise the entire country. At one of Karachi’s overflowing morgues, Amir Ali, clutching a photograph of his missing brother on his wedding day, searches […]
Sri Lank June exports up 32% to $816mn
Aug 29, 2011 (LBO) – Sri Lanka’s June 2011 exports rose 32 percent to 816 million US dollars from a year ago helped up strong growth in shipments of apparel as well as tea and rubber, the central bank said. Imports in June 2011 shot up 50 percent to 1.7 billion US dollars with a […]
Petrol Fiasco
Aug 29, 2011 (LBO) – A Sri Lanka government committee probing the import of substandard petrol which damaged vehicles has recommended payment of compensation to affected motorists. The report by the committee, handed over to petroleum minister Susil Premajayantha Monday, said the fiasco was caused by government officials not following essential procedures for fuel imports, […]