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Sri Lanka would like foreigners to buy private debt in future: Deputy Governor
Nov 04, 2010 – (LBO) – Sri Lanka is not looking to increase Treasuries sales to foreigners but would like them to buy private debt once capital markets are opened further, central bank’s deputy governor Dharma Dheerasinghe said. Sri Lanka’s rupee market has more than a 100 billion rupees as excess bank reserves which are […]
Sri Lanka stays in place in Doing Business 2011 ranking
Nov 04, 2010 (LBO) – Sri Lanka was retained its place at 102 in a ranking of 183 countries for ease of doing business, by the World Bank group for 2011 though some of its neighbors made gains. Maldives moved up to 85th place from 96, Bangladesh moved up to 107 from 11, and India […]
Sri Lankan stocks close 0.5-pct down
Nov 03, 2010 (LBO) – Sri Lankan stocks closed lower with the fall softened by large deals on some high value shares, while Cargills Ceylon entered the dairy farm business with its takeover of Kotmale Holdings, brokers said. John Keells Holdings closed at 301.10 rupees, up 1.10 (0.37 percent), while Aitken Spence closed at 180.60 […]
Credit Quality
Nov 03, 2010 (LBO) – Sri Lanka’s Nations Trust Bank (NTB) said net profit for the September 2010 quarter rose 104 percent to 354 million rupees from a year ago as interest margins improved and bad loans fell. Interest income fell 10 percent to 2.6 billion rupees and interest costs fell at a faster 32 […]
Easier Credit
Nov 03, 2010 (LBO) – Sri Lanka’s Commercial Bank of Ceylon has announced an immediate reduction in the interest rate applicable on all credit cards issued by the bank, a statement said. This reduction is in line with the trend of reducing lending rates, and is even less than the 24 percent rate requested by […]
Finance Purchase
Nov 02, 2010 (LBO) – Sri Lanka’s Asian Finance Ltd, a former Ceylinco group company will be sold to a Malaysian investor who is putting 200 million rupees in to the company, its parent, listed Nations Lanka Finance said. Tiong King Sing, a Malaysian national, had injected 200 million rupees to the firm and will […]
Sri Lanka Aitken Spence hotels boost Sept net profit
Nov 03, 2010 (LBO) – Sri Lanka’s Aitken Spence net profit rose 29 percent to 606 million rupees in the September 2010 quarter from a year ago largely on better earnings from its hotels, a stock exchange filing said. Group sales rose 11 percent to 6.3 billion rupees while earnings per share after subdivision were […]
Tele Status
Nov 03, 2010 (LBO) – Sri Lanka Telecom, the island’s largest fixed access operator, which also has a mobile unit said it made 1,027 million rupees in profits in the September 2010 quarter, against a loss of 189 million rupees a year earlier. At company level, which is mostly fixed access, revenues edged down 1.0 […]
Sri Lanka in stunning win after record partnership
MELBOURNE, November 3, 2010 (AFP) – Sri Lanka won a stunning one wicket victory over Australia in their opening one-day international Wednesday, courtesy of a record-breaking ninth wicket partnership by Angelo Mathews and Lasith Malinga. Looking dead and buried at 107 for eight and chasing Australia’s 239 for eight in Melbourne, the Sri Lankans roared […]
Sri Lanka to keep heat on Ponting-less Aussies
MELBOURNE, November 2, 2010 (AFP) – Sri Lanka will keep the heat on an Australia side that will be without their skipper Ricky Ponting for Wednesday’s opening one-day international in Melbourne, captain Kumar Sangakkara said Tuesday. The Sri Lankans received a significant boost ahead of the Melbourne Cricket Ground match when Ponting said he was […]