Author: lbostgadmin
Mobile Banking
June 22, 2011 (LBO) – Sri Lanka’s Commercial Bank plans to offer more mobile phone banking services such as allowing customers to remit funds and check the status of deposited cheques. Commercial Bank’s internet banking facilities are also to be shortly offered via a Wireless Application Protocol (WAP) portal, the bank said in a statement. […]
Expanding Reach
June 22, 2011 (LBO) – Sri Lanka’s state-run Regional Development Bank has established a presence in the island’s former northern war zone by opening its first branch in Vavuniya. It aims to accelerate economic activity in the region focusing on the small and medium enterprises, agriculture sector and tourism. We are mainly looking at providing […]
Sri Lanka stocks end down 1.0-pct
June 22, 2011 (LBO) – Sri Lankan stocks closed almost 01 percent lower Wednesday with continuous forced selling of client portfolios where the margin provided is in excess of 50 percent, brokers said. The Colombo Fort Land closed at 78.50 rupees down 40 cents or 0.51 percent with a solitary crossing of 250,000 shares at […]
Sri Lanka Treasuries yields steady
June 22, 2011 (LBO) – Sri Lankan Treasury bill yields were steady at this week’s auction with only the six-month bills edging up slightly, the government’s debt office, which is a unit of the central bank, said. The 3-month yield held steady at 7. 12 percent, while the 6-month yield rose one basis point to […]
Sri Lanka looks to expand economic links with Russia
June 21, 2011 (LBO) – Sri Lanka is expanding economic ties with Russia as the country looks to rebuild its economy after a 30-year war with a large state run firm being invited for talks on the oil and gas sectors and air links resuming, officials said. President Mahinda Rajapaksa attended an economic forum in […]
Pakistan detains officer over links with militants: army
SLAMABAD, June 21, 2011 (AFP) – Pakistan on Tuesday announced the arrest of an army brigadier accused of having contacts with a banned militant group. The information was released seven weeks after US Navy SEALs found and killed Osama bin Laden in the military town of Abbottabad, reviving disturbing questions about ignorance or complicity within […]
Sri Lanka stocks end down 0.6-pct
June 21, 2011 (LBO) – Sri Lanka stocks closed 0.63 percent lower Tuesday with continuous forced selling due to credit restrictions on users, brokers said. The All Share Price Index closed at 6996.64, down 0.63 percent (44.04 points) while the Milanka Price Index of more liquid stocks closed at 6571. 34, down 0.48 percent (31.86 […]
Sri Lanka bond market need price transparency, champion: industry
June 21, 2011 (LBO) – Sri Lanka’s corporate bond markets needed price transparency, a ‘champion’ to push for trading infrastructure and formal regulation of intermediaries may also be needed, market participants have said. Maninda Wickramasinghe, head of Fitch Ratings Lanka, and an a former head of a bond house said the corporate bond market needed […]
Sri Lanka sells US$126mn in floating rate bonds
June 21, 2011 (LBO) – Sri Lanka has sold 126. 5 million US dollars worth three and four year dollar bonds, with floating rates based on the 6-month London interbank offered rate, the government’s debt office said. The government offered 100 million US dollars in bonds for sale and offers for 134. 5 million were […]
Sri Lanka state revenue gap wide, despite higher taxes in April
June 20, 2011 (LBO) – Sri Lanka’s state revenues rose 18. 4 percent to 284.9 billion rupees in the four month to April 2011, but day-to-day spending had also expanded faster, creating a revenue deficit wider than budgeted for the whole year, official data shows. This left a yawning revenue deficit of 75. 4 billion […]
Refining Revision
June 20, 2011 (LBO) – Sri Lanka is holding talks with Iran to get more funds to expand its sole oil refinery after new feasibility studies indicated the cost would rise to two billion US dollars, an official said. Titus Jayewardene, secretary to the petroleum ministry, said the cost of the modernisation to double refining […]
Bell century puts England ahead of Sri Lanka
SOUTHAMPTON, June 19, 2011 (AFP) – Ian Bell’s second hundred in three matches helped England stay on top in the third and final Test against Sri Lanka at the Rose Bowl here on Sunday. Sri Lanka were 112 for three in their second innings at stumps on the fourth day — still 81 runs behind […]