Author: lbostgadmin
Cricket: Four-star Prasad puts Sri Lanka on the brink of victory
LEEDS, June 23, 2014 (AFP) – Dhammika Prasad’s dramatic four-wicket burst following a Test-best 160 from skipper Angelo Mathews left Sri Lanka on the brink of victory in the second Test against England at Headingley on Monday. Sri Lanka resumed Monday on 214 for four, a lead of 106, with Jayawardene 55 not out and […]
SriLankan raises US$175mn; Asian investors take up 60-pct: report
June 24, 2014 (LBO) – State-run SriLankan Airlines had sold 175 million US dollars of 5-year bonds to yield 5.3 percent with Asia based investors taking up 60 percent of the securities, a media report said.Bloomberg Newswires said European investors took up 25 percent and Middle Eastern investors 15 percent. About 85 percent were banks […]
‘s power sector losses seen at $27bn by World Bank
NEW DELHI, June 24, 2014 (AFP) – Annual losses in India’s dysfunctional power sector are forecast to rise to billion in 2017 unless the government enacts sweeping reforms in the face of rising demand, a World Bank study said Tuesday.India has one of the world’s lowest per capita electricity consumption rates, with the average person […]
Debt Sale
June 24, 2014 (LBO) – Sri Lanka’s DFCC Bank is to sell 5.0 billion rupees in debt with the lender’s long term domestic rating confirmed at ‘AA(lka)’ with a stable outlook. Its international rating was also confirmed at ‘B+’ with a stable outlook. Fitch said it had given a ‘AA-(lka)(EXP)’ rating to a proposed 5.0 […]
Bank Rating
June 24, 2014 (LBO) – Fitch Ratings said a ‘B+’ rating of Sri Lanka’s National Development Bank has been confirmed with a ‘stable’ outlook. Fitch also confirmed its foreign currency rating of ‘B+/Stable’ and withdrew a ‘B+(EXP)’ rating given to a proposed dollar bond sale which has since been abandoned. NDB is in merger discussions […]
Foreign Funding
June 24, 2014 (LBO) – Sri Lanka’s National Bank Plc raised 75 million US dollars with backed by the International Finance Corporation adding to 125 million dollars raised in March, officials said. The proceeds will be used to finance up to 50,000 micro and small scale enterprises. The IFC itself gave 20 million US dollars […]
Sri Lanka shares close up 0.2-pct
June 24, 2014 (LBO) – Sri Lanka’s shares closed 0.18 percent higher with index heavy John Keells Holdings gaining amid strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 11.52 points higher at 6,310.87, up 0.18 percent. The S&P SL20 closed 21.19 points higher at 3,496.12, up 0.61 percent. Turnover was […]
Sri Lanka banks managing risks, credit upturn expected: Fitch official
June 23, 2014 (LBO) – Sri Lanka’s banking system is managing the risks of bad loans especially from gold-backed loans but high credit growth targets by some banks are a concern, a top Fitch Ratings official said.Bad loans in Sri Lanka’s banking system spiked after low interest rates up to 2011 set off a credit […]
Cricket: Jayawardene stands firm after Ali double
LEEDS, June 22, 2014 (AFP) – Mahela Jayawardene steered Sri Lanka to a lead of more than a hundred runs in the second Test at Headingley after Moeen Ali proved an unlikely bowling hero for England.Sri Lanka were 214 for four in their second innings at stumps on Sunday’s third day, a lead of 106 […]
‘s branded apparel makers eye bigger domestic market
June 23, 2014 (LBO) Sri Lanka’s apparel makers are targeting a bigger share of an estimated two billion US dollar domestic market, officials said. The association said that the plans are on pipeline to open up a whole sale mall for international and domestic buyers to buy any fabric requirements and branding cloths. “This will […]
SriLankan Airlines on track to raise US$175mn at 5.3-pct: report
June 23, 2014 (LBO) – State-run Sri Lankan Airlines is on track to raise US$175 mn from 5-year bonds at around 5.3 percent, a media report said. The sale is managed by Standard Chartered. Bloomberg newswires citing un-named sources said the bond was launched at 5.625 percent earlier Monday and price guidance was later narrowed […]
Starting Up
June 23, 2014 (LBO) – Sri Lanka’s information technology chamber and accounting institute is holding a forum to boost financing accounting outsourcing companies in the island. Sri Lanka Association of Software and Services Companies (SLASSCOM) said it is partnering with the Institute of Chartered Accountants of Sri Lanka (CA) to host the forum on June […]