lbostgadmin – Page 1909 – Lanka Business Online

New Pilots

Dec 30, 2008 (LBO) – Three new directors has been appointed to Sri Lanka’s Seylan Bank, which was put under the control of a state bank by the monetary board, a media report said. Experienced banker E Narangoda, who was earlier at state-run National Savings Bank had been appointed chairman, The Island newspaper said. Lalith […]

Trade Halt

Dec 30, 2008 (LBO) – Sri Lanka’s Seylan Bank trade halt was removed at 12.45 pm Tuesday following clearance from the Colombo Stock Exchange (CSE) and Securities and Exchange Commission (SEC). Seylan Bank shares opened trading Tuesday at 19.50 rupees, up 3.75 rupees from the previous close on December 24. Their was no trading on […]

Web Pay

Dec 30, 2008 (LBO) – Sri Lanka’s Commercial Bank said it has extended its ‘Paymaster’ online payment facility to handle Employees’ Trust Fund (ETF) retirement benefit fund payments. The web-enabled Paymaster enables monthly contributions and surcharges and upload of monthly member contribution details for the convenience of employers, the bank said in a statement. This […]

New Call

Dec 30, 2008 (LBO) – Evergreen Line has said it has introduced a new feeder service with Singapore-based Sea Consortium linking Sri Lanka’s Colombo port with ports in India and Pakistan. A statement from the shipping line, operated by Taiwan’s Evergreen Marine Corporation, said the Arabian Express Service (ASX) offers a weekly rotation. The ships […]

Traffic Jam

Dec 30, 2008 (LBO) – The Sri Lanka Ports Authority (SLPA) has completed dredging of the northern entrance to Colombo port, senior SLPA officials said. Port users have said such navigation restrictions cause congestion in the harbour, resulting in delays in cargo handling and turning around container ships. The SLPA has tested sonar systems to […]

Sri Lanka Seylan Bank up sharply on takeover expectations

Dec 30, 2008 (LBO) – Sri Lankan stocks continued to weaken Tuesday but Seylan Bank shares shot up almost 29 percent on anticipation of a takeover after it was placed under a state-owned bank when depositors began withdrawing funds. The All Share Price Index eased 0.79 percent (11.85 points) to 1,484.53 while the Milanka lost […]

Sri Lanka rupee gains to 112.90 against greenback after limit cut

Dec 30, 2008 9LBO) – The Sri Lanka rupee rose to 112.90/113.00 levels after the Central Bank cut overnight trading positions of banks, dealers said.The spot dollar opened around 113.60/80 levels Tuesday. The rupee edged towards 113.80/114.00 levels Monday. Overnight rates in the inter bank market was around 13.00/13.50 with excess liquidity at most banks, […]

Sri Lanka spinner Mendis joins squad in Bangladesh

DHAKA, December 29, 2008 (AFP) – Spin sensation Ajantha Mendis joined the touring Sri Lanka squad here Monday after recovering from an ankle injury that kept him out of the first Test against Bangladesh.“My ankle is alright now and I am not feeling any pain,” he told reporters on arrival. Mendis picked up the injury […]

Bugged

BANGALORE, December 29, 2008 (AFP) – Three directors of Indian software firm Satyam have resigned, the company announced Monday as it sought to restore investor confidence in the wake of an aborted 1.6 billion dollar acquisition. Satyam Computer Services Ltd is a leading software consultancy, system integration and outsourcing firm with clients across 65 countries.Krishna […]

Bank Statement

Dec 29, 2008 (LBO) – Sri Lanka Seylan Bank has a issued a statement on a planned sale of its shares by the Ceylinco group. Seylan Bank is a licensed commercial bank which is regulated and supervised by the Central Bank of Sri Lanka. The full statement is reproduced below: Press release from Seylan Bank […]

No Control

Dec 29, 2008 (LBO) – Sri Lanka’s Ceylinco Insurance says its board has not been given control of Golden Key Credit Card Company, a troubled Ceylinco group firm that could not repay its customers earlier this month. Ceylinco Insurance said in a stock exchange filing that “the control of Golden Key Credit Card Company and […]

Foreign Ratings

Dec 29, 2008 (LBO) – The ‘AAA(lka)’ ratings of Sri Lanka branches of Citibank and Standard Chartered are not affected following a court order that halted payments on oil derivatives with a state-run oil firm, Fitch Ratings said.The findings are expected to be presented at court hearings in February 2009. “As per regulatory requirements, both […]