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Sri Lanka banks managing risks, credit upturn expected: Fitch official
June 23, 2014 (LBO) – Sri Lanka’s banking system is managing the risks of bad loans especially from gold-backed loans but high credit growth targets by some banks are a concern, a top Fitch Ratings official said.Bad loans in Sri Lanka’s banking system spiked after low interest rates up to 2011 set off a credit […]
‘s foreign reserves at US$8.9bn in April 2014
June 22, 2014 (LBO) – Sri Lanka’s foreign reserves rose to 8.9 billion US dollars in June 2014 from 8.05 billion in March, boosted by foreign borrowings and weak credit that reduced outflows, official data showed.The Central Bank said foreign reserves were now equal to 5.9 months of imports. The central bank has been buying […]
Nationalist Riots
COLOMBO, June 22, 2014 (AFP) – Sri Lankan police announced Sunday they were tightening security in the capital after local media, in a rare show of unity, condemned them for failing to control Buddhist extremists behind deadly anti-Muslim riots. The UNP has accused the country’s powerful defence secretary and president’s younger brother, Gotabhaya Rajapakse, of […]
Cricket: Sri Lanka fight back after Robson century
LEEDS, June 21, 2014 (AFP) – Australia-born opener Sam Robson scored his maiden Test century before Sri Lanka checked England’s progress on the second day of the second Test at Headingley on Saturday.England were 320 for six in reply to Sri Lanka’s 257, a lead of 63 runs, at stumps after Robson had made 127 […]
Fire Probe
COLOMBO, June 21, 2014 (AFP) – Sri Lankan police were investigating a fire which Saturday destroyed a Muslim-owned clothing store in a district where religious tensions have been heightened after anti-Muslim riots killed four people and wounded 80.Authorities have not ruled out arson at the upmarket No-Limit store in Panadura, 25 kilometres (16 miles) south […]
” Broad takes his second Test hat-trick
LEEDS, June 20, 2014 (AFP) – Stuart Broad admitted he had no idea he had become the first England bowler to take two Test hat-tricks and just the fourth in all after he struck with three succesive balls against Sri Lanka at Headingley on Friday.The seamer, who had previously performed the feat against India at […]
Football: Three jailed over English match-fixing plot
LONDON, June 20, 2014 (AFP) – A court jailed three men on Friday for up to five years over their involvement in a plot to fix English lower league games after coming to Britain from Singapore.Krishna Ganeshan, 44, and Chann Sankaran, 33, were sent to prison for five years each, with the judge describing them […]
Sri Lanka Muslims cut back Friday prayers after unrest
COLOMBO, June 20, 2014 (AFP) – Sri Lanka’s Muslim minority held shortened Friday prayer services as religious tensions gripped the island after clashes with hardline Buddhists killed four people, an official said. The Muslim Council of Sri Lanka (MCSL) said Islamic clerics instructed mosques to conduct shorter services and asked the faithful to disperse peacefully […]
‘s Mattala airport speeds up refueling
June 21, 2014 (LBO) – An aviation fuel hydrant and storage terminal at Sri Lanka’s Mattala Rajapaksa International Airport, has allowed it to refuel the largest aircraft in the world quickly, the state petroleum utility said.Ceylon Petroleum Corporation which has a monopoly of fuel supply at Sri Lanka’s two international airports said the airport originally […]
Sri Lanka warned it may suffer same fate as Vietnam
June 21, 2014 (LBO) – Sri Lanka’s Communist Party recognized Vietnam’s claims to islands which are at a centre of a dispute with China a top official said, amid warnings that Sri Lanka could suffer the same fate from aggressive large nations. “As far as we are concerned we recognize the right of the Vietnamese […]
Sri Lanka shares close down 0.2-pct
June 20, 2014 (LBO) – Sri Lanka’s shares closed 0.17 percent lower for the third straight session amid strong foreign selling, brokers said. The Colombo benchmark All Share Price Index closed 10.75 points lower at 6,302.45, down 0.17 percent. The S&P SL20 closed 11.81 points lower at 3,478.86, down 0.34 percent. Turnover was 1.21 billion […]
Fleet Expansion
June 20, 2014 (LBO) – Sri Lanka state-run Ceylon Shipping Lines will buy a tanker to transport crude in addition to two bulk carriers, as part of building up a plan to become a shipping hub, information minister Keheliya Rambukwelle said. Until the shipping line has sufficient capacity it will be given a commission of […]