Category:
Sri Lanka president skips Commonwealth Games
COLOMBO, July 22, 2014 (AFP) – Sri Lanka President Mahinda Rajapakse will skip the Commonwealth Games starting this week in Glasgow despite being chair of the bloc, his office said Tuesday, after activists threatened to protest at his attendance.Rajapakse’s military crushed rebels fighting for a separate homeland for ethnic minority Tamils in 2009 following a […]
”s call for peace
COLOMBO, July 22, 2014 (AFP) – A firebrand Sri Lankan monk on Tuesday criticised the Dalai Lama for urging the island’s Buddhists to halt violence against minority Muslims and rejected him as a global spiritual leader.Buddhist monk Galagodaatte Gnanasara said the Dalai Lama was ignorant of the “true situation in Sri Lanka” and accused the […]
‘s Ceylon Cold Stores net up 87-pct in June quarter
July 23, 2014 (LBO) – Profits at Sri Lanka’s Ceylon Cold Stores, which has interests in consumer goods and retailing, surged 87 percent to 299.3 million rupees in the June 2014 quarter from a year earlier as revenues rose 18 percent. Sri Lanka is recovering from a balance of payments crisis where consumer spending power […]
Sri Lanka stocks close up 0.6-pct
July 22, 2014 (LBO) – Sri Lanka’s stocks closed 0.59 percent higher with diversified stocks gaining amid net foreign buying, brokers said. Carson Cumberbatch closed 22.00 rupees higher at 490.00 rupees, contributing most to the index gain. Sri Lanka Telecom closed 1.10 rupees higher at 56.40 rupees and Ceylinco Insurance closed 80.00 rupees higher at […]
Consolidation
July 22, 2014 (LBO) – George Steuart Finance Deshodaya Development Finance Limited (DDFC), has inked a deal to acquire George Steuart Finance Plc, which valued the licensed finance company at 500 million rupees. In the year to March, George Steuart Finance reported profits of 4.6 million rupees (45 cents per share) on interest income of […]
Key Speaker
July 22, 2014 (LBO) – Alpesh Shah, a Senior Partner and Managing Director of the Indian Unit of the Boston Consulting Group, will address a business forum in Colombo in August.Ceylon Chamber of Commerce said Shah will speak at the upcoming ‘Sri Lanka Economic Summit’ on the topic of ‘Colombo as a Financial Hub at […]
”’ rating confirmed
July 22, 2014 (LBO) – Fitch Ratings said it was confirming a ‘B’ issuer financial strength rating of Sri Lanka’s Asian Alliance Insurance Plc (AAIP). It also confirmed a National Insurer Financial Strength Rating and National Long-Term Rating of ‘BBB+(lka)’ with a stable outlook. Fitch said the rating reflected benefit that could come from being […]
Cricket: South Africa aim to end Sri Lanka series jinx
COLOMBO, July 22, 2014 (AFP) – An upbeat South Africa will look to carry their winning momentum in the second Test against Sri Lanka beginning on Thursday, and break a 21-year-old jinx on the island.The Proteas, the current world number two, have not won a Test series in Sri Lanka since 1993 when they first […]
Sri Lanka stocks close up 0.5-pct
July 21, 2014 (LBO) – Sri Lanka’s stocks closed 0.51 percent higher with diversified stocks gaining despite net foreign selling, brokers said. Carson Cumberbatch closed 10.00 rupees higher at 468.00 rupees and John Keells Holdings closed 1.70 rupees higher at 246.70 rupees. JKH’s W0022 warrants closed 2.90 rupees higher at 66.90 rupees and its W0023 […]
Sri Lanka 30MW hydro plant financed by ADB; protection for endangered fish
July 21, 2014 (LBO) – Asian Development Bank is financing a 30MegaWatt hydro plant with a 150 million US dollar credit, and the project will have measures to protect an endangered fish in the river.The Moragolla hydro power plant is estimated to generate 97.7 GigaWatt hours (millions of units of electricity) of energy a year, […]
Sri Lanka bank credit subdued in May: data
July 21, 2014 (LBO) – Sri Lanka’s loans to private business from commercial banks slipped 7.9 billion rupees in May 2014 from a year earlier while credit to the state and state enterprises also contracted, official data shows.Private credit has contracted in four out of five months this year and is down 60 billion rupees […]
Cricket: Steyn stars in big South Africa win
GALLE, July 20, 2014 (AFP) – Dale Steyn grabbed a match haul of 9-99 as South Africa thrashed Sri Lanka by 153 runs on the fifth and final day of the first Test on Sunday.Sangakkara was dropped on 65 but failed to take advantage of the reprieve, pulling Duminy to short midwicket where Amla took […]