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Cricket: Sangakkara keeps alive Sri Lanka victory dream
GALLE, July 19, 2014 (AFP) – Kumar Sangakkara smashed his 49th half-century as Sri Lanka launched a stunning fightback on the fourth day of the first Test against South Africa on Saturday. De Kock fell on the last ball before the break, lobbing an easy return catch to Perera. Opener Dean Elgar, who made 103 […]
Sri Lanka stocks close flat
July 18, 2014 (LBO) – Sri Lanka’s stocks closed with a lackluster note on Friday amid low foreign participation, brokers said. Foreign investors bought 113.33 million rupees worth shares while selling 50.92 million rupees worth shares. Ceylon Tobacco Company closed 9.50 rupees higher at 1,112.00 rupees and Nestle Lanka closed 9.20 rupees higher at 2,110.00 […]
Sentenced
COLOMBO, July 18, 2014 (AFP) – A Sri Lankan ruling party politician and three accomplices were Friday sentenced to 20 years in jai for murdering a British holidaymaker on Christmas Eve and raping his Russian partner. The case was initially heard in the southern town of Tangalle, the hometown of the main accused, but shifted […]
Sri Lanka shares close down 0.3-pct
July 17, 2014 (LBO) – Sri Lanka’s shares closed 0.31 percent lower on Thursday despite net foreign buying, brokers said. E-Channelling closed 1.10 rupees higher at 16.80 rupees, attracting most number of trades during the day. Foreign investors bought 189.13 million rupees worth shares while selling 26.49 million rupees worth shares. Sri Lanka Telecom closed […]
Merger Consultants
June 17, 2014 (LBO) – Sri Lanka’s National Development Bank and DFCC Bank has engaged Boston Consulting Group (India) Pvt Ltd, to advice on a planned merger. The banks said in a joint stock exchange filing that no final decision has been made on the merger. The two banks are merging under a regulatory move […]
Pawning Loans
July 17, 2014 (LBO) – Benefits from a state guarantee for gold-backed loans (pawning) will be temporary, a report by Standard & Poor’s, a rating agency said. “The credit guarantee for pawning loans will provide only brief respite to Sri Lanka’s banking industry, which is still struggling to overcome the effects of declining gold prices,” […]
Consolidation
July 17, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said it will acquire Indra Finance, a finance company linked to a top vehicle retailer for 870 million rupees. Indra Finance had 507 million rupees in equity 73 million rupees in profits and 2.0 billion rupees in assets according to the last balance sheet […]
‘s 50
GALLE, July 17, 2014 (AFP) – Rookie batsman Quinton de Kock hit a maiden half-century as South Africa moved to 331-7 at lunch on the second day of the first Test against Sri Lanka on Thursday. De Kock, playing his second Test after making his debut in February, hit six fours in his promising 90-ball […]
Sri Lanka shares close up 0.2-pct
July 16, 2014 (LBO) – Sri Lanka’s shares closed 0.22 percent higher on Wednesday with continued foreign inflows extending gains further, brokers said. Foreign investors bought 452.04 million rupees worth shares while selling 125.62 million rupees worth shares. Bukit Darah closed 25.30 rupees higher at 700.00 rupees, contributing most to the index gain. Carson Cumberbatch […]
Top Appointment
July 16, 2014 (LBO) – Sri Lanka’s Commercial Bank of Ceylon said Sivakrishnarajah Renganathan, the Bank’s Deputy General Manager Personal Banking has been appointed Chief Operating Officer and Executive Director. The appointment takes effect on July 17. He has been with Commercial Bank for 34 years. In July 2003, he was appointed country manager Bangladesh, […]
Top Sri Lanka lawyer says fears for life after criticising govt
COLOMBO, July 16, 2014 (AFP) – The head of Sri Lanka’s bar association said on Wednesday he feared he might be killed after he described President Mahinda Rajapakse’s government as becoming more autocratic.“We observe that the post-war Sri Lankan polity has been in an acute and deepening crisis,” he said. Another legal group, the Lawyers […]
Sri Lanka to re-start oil refinery
July 16, 2014 (LBO) – Sri Lanka has repaired an offshore unloading buoy allowing state-run Ceylon Petroleum Corporation to re-start its refinery which was closed due to lack of crude stocks, the petroleum ministry said.The buoy was repaired on July 15 and 50,000 barrels were unloaded yesterday, the ministry said, allowing the refinery to start […]