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Crisp Tender
Dec 18, 2007 (LBO) – Sri Lanka is issuing its first currency note under the signature of Governor Nivard Cabraal with added security features to battle a rising threat of counterfeiting, the Central Bank said. The note is dated 2006.07.03. The one thousand rupee note will have upgraded security features to battle an “increasing threat” […]
No Conflict
Dec 18, 2007 (LBO) – Sri Lanka’s capital markets watchdog should be made more transparent and its officials more independent, the International Monetary Fund (IMF) has said. The island’s Securities and Exchange Commission (SEC) is “well-resourced”, but its capacity needs to be further strengthened, the IMF said in a comprehensive financial sector assessment report on […]
Independent Management
Dec 18, 2007 (LBO) – The International Monetary Fund has called for an independent governance structure for Sri Lanka’s Employees Provident Fund (EPF) amidst growing concern about real losses to the fund and its management at the hands of the Central Bank. In a Financial Sector Stability Assessment the IMF said a “sound, robust, and […]
Fitch Sri Lanka gives HNB Assurance A(lka) insurance rating
Dec 18, 2007 (LBO) – Fitch Ratings Sri Lanka has given HNB Assurance a national insurer financial strength rating of ‘A(lka)’ and a national long-term rating of ‘A-(lka)’ with stable outlooks. HNB Assurance is 60 percent-owned by Hatton National Bank Ltd (HNB), the second-largest private bank in Sri Lanka, rated ‘AA-‘. Fitch says HNB Assurance’s […]
Sri Lanka Insurance rating outlook lifted by Fitch
Dec 18, 2007 (LBO) – Fitch Ratings has lifted the outlooks on the AA-(lka) national insurer financial strength rating and A+(lka) credit rating of Sri Lanka Insurance Corporation (SLIC) to positive from stable. “The Positive Outlooks reflect SLIC’s progress in reforming the company since privatisation in 2003,” the rating agency said. “Fitch believes that the […]
‘s ability to print its way out of trouble
NEW YORK, Dec 17, 2007 (AFP) – World stock markets were roiled Monday by worries that resurgent US inflation would reduce the chances for another Federal Reserve interest rate cut to shield the economy from a credit crunch. Wall Street shares fell sharply in the wake of a sea of red on European and Asian […]
England opt to field in final Sri Lanka Test
GALLE, Sri Lanka, Dec 18, 2007 (AFP) – England captain Michael Vaughan won the toss and sent Sri Lanka in to bat in the third and final cricket Test at the Galle International Stadium here on Tuesday. The tourists, trailing 1-0 in the series, left out off-spinner Graeme Swann from the 12 announced on Monday […]
Wet grounds delay play in England-Sri Lanka Test
GALLE, Sri Lanka, Dec 18, 2007 (AFP) – Wet ground conditions prevented play before lunch on the opening day of the third and final cricket Test between England and Sri Lanka here on Tuesday.England are seeking a series-levelling win after losing the first Test in Kandy.The second Test in Colombo was drawn last week. Match […]
Sri Lanka deadliest place for journalists after Iraq and Somalia: CPJ
NEW YORK, Dec 18, 2007 (AFP) – Sixty-four journalists were killed on assignment in 2007, making it the deadliest year for reporters since 1994, the US-based Committee to Protect Journalists said in a report published Tuesday. One of the most widely reported media deaths of 2007 was that of Japanese video journalist Kenji Nagai, filmed […]
Sri Lanka ticks off UNICEF envoy
Dec 17, 2007 (AFP) – Sri Lanka Monday summoned the head of UNICEF operations here and expressed Colombo’s “concern” over his visit to rebel-held territory in the island’s north, the foreign ministry said.The government insists it is working on a political package aimed at addressing the demands of ethnic Tamils, but at the same time […]