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‘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 […]
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 […]
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 […]
”s tactics
LEEDS, June 23, 2014 (AFP) – Sri Lanka great Mahela Jayawardene questioned England’s tactics, their ability to handle pressure and the wisdom of home captain Alastair Cook’s pre-match spat with Shane Warne as the tourists moved to the brink of a memorable Test series win at Headingley. Sri Lanka seized control of the second and […]
Sri Lanka to dig up suspected Muslim mass grave
COLOMBO, June 24, 2014 (AFP) – Sri Lankan authorities are to dig up the site of a suspected mass grave next week after claims it contains the bodies of scores of Muslims killed by Tamil rebels 24 years ago, police said Tuesday.The Muslim community, which accounts for around 10 percent of the island’s population and […]
Sri Lanka sells US$239.4mn 3-year bonds
June 23, 2014 (LBO) – Sri Lanka has sold 239.5 million US dollars in 3-year bonds to at price of 375 basis points above the 6-monmth London interbank offered rate, the state debt office said. The bonds are sold to domestic banks and investors who are allowed have dollar assets. The market was offered 50 […]
Sri Lanka shares close lower
June 23, 2014 (LBO) – Sri Lanka’s shares closed 0.05 percent lower for the forth straight day amid strong foreign selling, brokers said. Sri Lanka Telecom closed 1.30 rupees higher at 47.90 rupees and Dialog Axiata closed flat at 10.40 rupees. Cargills Ceylon closed 6.20 rupees higher at 152.50 rupees and Ceylon Tobacco Company closed […]
Board Appointment
June 23, 2014 (LBO) – Upali Dharmadasa, managing director of Sri Lanka’s Nawaloka group has been appointed a director of Seylan Bank Plc.Dharmadasa has 32 years in corporate management, and is also chairman of Sri Lanka Insurance Corporation, the bank said in a statement. He is Managing Director of Nawaloka Piling, Nawaloka Timber Stores, Nawaloka […]
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 […]
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 […]
‘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 […]
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 […]