Author: lbostgadmin
Jaguar Land Rover to open engine plant in Britain
LONDON, September 19, 2011 (AFP) – Indian-owned luxury carmaker Jaguar Land Rover is to open a factory to build low-emission engines in Britain with the creation of up to 750 jobs, the company said on Monday. The £355 million (0 million, 560 million euros) facility will be based near Wolverhampton in central England, with work […]
Regulator Chief
Sept 19, 2011 (LBO) – Sri Lanka was re-elected to chair the Commonwealth Telecommunications Organization (CTO) at its 51st council meeting held in Trinidad and Tobago, the state information office said. Pelpita said Sri Lanka looked forward to working with Tim Unwin, the CTOs new chief executive and thanked outgoing CEO Ekwow Spio-Garbrah for his […]
Fast Access
Sept 19, 2011 (LBO) – Sri Lanka Telecom, the island’s dominant fixed line operator, has commissioned a fibre optic network in the former northern war zone providing high speed links with the rest of the country and abroad. œThe launch of the i-Sri Lanka project helps bridge the divide between Jaffna and the rest of […]
False Papers
Sept 19, 2011 (LBO) – A Sri Lankan student seeking to study in the United Kingdom was arrested for fraud because she submitted a false education certificate with her visa application, the British high commission said. “They have also have been banned from travelling to the UK for ten years.” “The UK Border Agency referred […]
Regulator Posts
Sept 19, 2011 (LBO) – Sri Lanka’s central bank has promoted three assistant governors, P Nandalal Weerasinghe, B D W A Silva and C Premeratne to the posts of deputy governor, a statement said. Weerasinghe and Silva were promoted with effect from September 27, 2011 and Premeratne is to be promoted with effect from January […]
Financial Strength
Sept 19, 2011 (LBO) – Fitch Ratings Lanka has confirmed Citibank N.A. – Colombo Branch’s (CitiSL) national long-term rating at ‘AAA(lka)’ with a stable outlook. “CitiSL’s rating reflects Citibank N.A.’s (Citibank) financial strength,” it said in a statement. “Given that CitiSL is a branch and part of the same legal entity as Citibank, Fitch believes […]
Debt Rating
Sept 19, 2011 (LBO) – Fitch Ratings Lanka has assigned Senkadagala Finance’s (SFC) proposed senior unsecured redeemable debentures of up to 300 million rupees a ‘BBB+(lka)’ rating. The agency has also confirmed and withdrawn the ‘BBB+(lka)’ rating on SFC’s proposed listed debenture issuance of a billion rupees scheduled to take place in March 2011 due […]
Sri Lanka stock trades cancelled after technical glitch
Sep 19, 2011 (LBO) – Sri Lanka Colombo Stock Exchange (CSE) cancelled all orders and trades Monday after a technical problem halted trading soon after the opening. Turnover had been 1.8 billion rupees on Friday. “The Automated Trading System (ATS) experienced a hardware failure in the database servers shortly after the Open Auction today,” a […]
‘s credit expansion slower in July
Sept 19, 2011 (LBO) – Sri Lanka’s commercial banks loaned 26.9 billion rupees to private business in July 2011, down from 39 billion rupees a month earlier and credit to the state fell, following the sale of a soveriegn bond, official data showed. Central Bank credit to government – usually a red flag of impending […]
Sri Lanka starts active open market operations – Update
Sept 19, 2011 (LBO) – Sri Lanka’s central bank resumed active open market operations Monday absorbing a small amount of excess liquidity eight basis points above it 7.0 percent policy rate, rejecting most of the bids that came at higher rates, dealers said. Market participants offered to sell 36.15 billion in excess rupees through the […]
‘s 316
September 17, 2011 (AFP) – Kumar Sangakkara hit an unbeaten 61 in his 100th Test as Sri Lanka responded bravely to Australia’s 316 in the third and final game of the series in Colombo on Saturday. Sri Lanka, seeking a series-levelling win, closed the second day at 166-2 in their first innings after a batting […]
Dilshan stars as Sri Lanka lead Aussies
September 18, 2011 (AFP) – Skipper Tillakaratne Dilshan inspired Sri Lanka’s tenacious batting display as the hosts took charge of the third cricket Test against Australia in Colombo on Sunday. Sri Lanka, seeking a series-levelling win, closed the third day’s play at the Sinhalese Sports Club on 428-6 in their first innings, a lead of […]