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Sri Lanka looking for alternative ways to unload crude: minister
June 26, 2014 (LBO) – Sri Lanka is looking for a small vessel to unload crude mid-sea from tankers and bring oil to a refinery after a hose in an offshore mooring buoy burst, petroleum minister Anura Yapa said. He said if necessary refined products could be imported. Already two thirds of the fuel to […]
‘s Nippon Paint in DIY strategy to kindle demand
June 26, 2014 (LBO) – Sri Lanka’s Nippon Paint Lanka is pushing into the do-it-yourself market as weak spending power coupled with higher labour costs has led to a slump in demand, officials said. “As an industry we are not doing very well. This is not common to us but even the other companies face […]
Sri Lanka Treasuries edge lower
June 25, 2014 (LBO) – Sri Lanka’s Treasuries yield eased lower across maturities at Wednesday’s auction, data from the state debt office said. The debt office said 1.00 billion rupees in 3-month bills, 1.00 billion in 6-month bills and 20.00 billion in one year bills totaling 22.00 billion rupees were sold after offering 12.00 billion […]
Sri Lanka shares close up 0.2-pct
June 25, 2014 (LBO) – Sri Lanka’s shares closed 0.17 percent higher with index heavy John Keells Holdings contributing most to the index gain for the second straight session amid net foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 10.68 points higher at 6,321.55, up 0.17 percent. The S&P SL20 closed […]
Education Hub
June 25, 2014 (LBO) – Villa College, a Maldives-based higher education institute, is setting up an arm in Sri Lanka which will be developed into a residential campus, the state investment promotion agency said.The BOI which gives tax breaks and investment approvals had signed an agreement with Ahmed Anwar, Rector of Villa College and Chief […]
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LEEDS, June 25, 2014 (AFP) – Sri Lanka captain Angelo Mathews had the ideal response to criticism from former England skipper Michael Vaughan regarding the Islanders’ “county” attack after the tourists completed a dramatic Test series win at Headingley.Mathews’s men won the second Test by 100 runs after paceman Shaminda Eranga dismissed England No 11 […]
Cricket: Sri Lanka seal thrilling England series win
LEEDS, June 24, 2014 (AFP) – Sri Lanka beat England with just one ball to spare to win the second Test at Headingley by 100 runs on Tuesday and take the two-match series 1-0.It was a desperately close call but the former Australia seamer ruled in Sri Lanka’s favour. After tea, left-arm spinner Herath, who […]
Sri Lanka macro-prudential indicator may be upgraded: Fitch official
June 25, 2014 (LBO) – A Macro Prudential Indicator for Sri Lanka which was downgraded to ‘3’, may be lifted in the future as risks recede, amid slower credit growth, a top Fitch Ratings official said.Mark Young head of Asia Pacific Financial Institutions at Fitch Ratings said with weaker credit growth there was room for […]
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 […]
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 […]
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 […]
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 […]