Author: lbostgadmin
‘s Senkadala Finance debt gets Rs1.3bn in orders
Dec 14, 2013 (LBO) – A debt sale by Sri Lanka’s Senkadagala Finance Plc has received applications for 1.3 billion rupees, the firm said.The issue opened and closed on December 06 with 147 applications coming in for the 5-year subordinated debentures. The debenture proceeds are used to boost capital and future lending. Senkadagala Finance said […]
EU bank watchdog warns over Bitcoin
LONDON, December 13, 2013 (AFP) – The European Union’s banking watchdog on Friday issued a warning over virtual currency trading amid huge swings in the value of Bitcoin, a lack of regulation and money laundering risks.The EBA urged users to “exercise the same caution with your digital wallet as you would do with your conventional […]
Sri Lanka promise fightback against Pakistan
DUBAI (AFP) – Sri Lankan captain Dinesh Chandimal vowed his team would come back hard at Pakistan in the second Twenty20 international in Dubai on Friday to keep their world number one ranking intact.Pakistan edged out Sri Lanka by three wickets in a thrilling last-over finish in the first match on Wednesday. If Pakistan, currently […]
Sri Lanka insurance outlook stable despite underwriting losses: Fitch
Dec 13, 2013 (LBO) – Fitch Ratings said the outlook for Sri Lanka’s insurance sector was stable despite many insurers making underwriting losses and uncertainty over the effects of regulatory changes.The rating agency said intense price competition in motor has kept the combined ratio’s of many insurers above 100 percent, indicating that before investment income […]
Pakistan textile sector eys boost from EU export deal
KARACHI, December 13, 2013 (AFP) – Pakistan’s textile sector Friday welcomed a European Union’s move to cut duties on the country’s exports, saying it would add billions to the economy, but it warned an energy crisis could prevent firms from benefiting from the windfall.The EU on Thursday signed a law granting Pakistan generalised system of […]
Sri Lanka stocks close higher
Dec 13, 2013 (LBO) – Sri Lanka stocks closed higher Thursday with finance and diversified stocks gaining despite net foreign selling, brokers said. Ceylinco Insurance closed flat at 1,348.90 rupees and Commercial Bank closed 50 cents lower at 117.00 rupees. Sampath Bank closed 1.00 rupee higher at 168.00 rupees and NDB closed 80 cents lower […]
‘s T20 win over Sri Lanka
DUBAI, December 11, 2013 (AFP) – Dashing allrounder Shahid Afridi starred in Pakistan’s exciting three-wicket win over Sri Lanka in the first Twenty20 international at Dubai stadium on Wednesday. Afridi scored an unbeaten 20-ball 39, hitting the winning six off the last ball of the final over by paceman Nuwan Kulasekara to give Pakistan a […]
IATA sees record profits for airlines in 2014
GENEVA, December 12, 2013 (AFP) – Airlines are expected to post record profits in 2014, the International Air Transport Association said Thursday, citing sliding oil prices and mergers for the sector’s improving outlook.European airlines, meanwhile, are seen as making major progress, with profits expected to hit $3.2 billion in 2014, up from $1.7 billion this […]
Expanded Use
Dec 12, 2013 (LBO) – SAP AG, an information technology company known for its enterprises resource planning software is expecting more business in Sri Lanka with a wider range of its products including e-government solutions, an official said.Public services included central and regional government, Treasury, healthcare, education, port and airports and project management. On Tuesday […]
Sri Lanka stocks end higher
Dec 12, 2013 (LBO) – Sri Lanka stocks closed higher Thursday with diversified stocks gaining amid net foreign buying on the bourse, brokers said. The Colombo benchmark All Share Price Index closed 5.38 points higher at 5,793.19, up 0.09 percent. The S&P SL20 closed 7.17 points higher at 3,189.44, up 0.23 percent. Turnover was 247.70 […]
‘s NTB debentures oversubscribed
Dec 12, 2013 (LBO) – Sri Lanka’s Nations Trust Bank said its 3.0 billion rupee 5-year debenture offer was oversubscribed within hours of opening.The bank is offering 30 million 100 rupee debentures paying 13 percent every six months, giving an annual effective yield of 13.42 percent. The issue had drawn more than 5.0 billion rupees […]
G8 ministers meet on dementia time-bomb
LONDON, December 11, 2013 (AFP) – Health ministers from the G8 nations were meeting in London on Wednesday to tackle what experts warn is a dementia time-bomb, with cases set to soar as the world’s population ages.Ministers from the Group of Eight wealthy nations’ were gathered with health experts and charities for the first ever […]