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Jordan leads England to victory over Sri Lanka
LONDON, May 22, 2014 (AFP) – Chris Jordan starred with both bat and ball as England set off on the road to next year’s World Cup with a an 81-run win over Sri Lanka in a rain-marred one-day international at The Oval on Thursday.The Sussex all-rounder’s belligerent 38 not out off just 13 balls propelled […]
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May 22, 2014 (LBO) – Fitch Ratings has downgraded Sri Lanka’s Singer Finance Lanka Plc’s (SFL) rating by one level to ‘BBB(lka)’ with a ‘stable’ outlook following a cut in the rating of its parent, Singer Sri Lanka Plc. RATING SENSITIVITIES- NATIONAL RATINGS AND SENIOR DEBT A weakening in SFL’s intrinsic strength would only trigger […]
Sri Lanka stocks close higher
May 22, 2014 (LBO) – Sri Lanka’s stocks closed higher Thursday with low activity on the bourse, brokers said. The Colombo benchmark All Share Price Index closed 0.85 points higher at 6,290.17 up 0.01 percent. The S&P SL20 closed 0.79 points lower at 3,465.05, down 0.02 percent. Turnover was 612.40 million rupees, down from 944.28 […]
Box Repairs
May 22, 2014 (LBO) – Sri Lanka’s Aitken Spence group, which has interests in logistics, leisure and energy said it had opened a container repair and rigging facility.Dissanayake said the facility was part of the groups efforts to provide demand chain management solutions. The unit will operate 24 hours and will provide all weather under […]
Borrowing Strategy
May 22, 2014 (LBO) – Sri Lankan firms and banks should look at borrowing and lending longer term as interest rates and inflation fall, Central Bank Governor Nivard Cabraal said.Analysts say Sri Lanka’s banks and their customers borrow short term as excessive state intervention in the economy, especially in energy prices lead to sudden surges […]
Finance Rating
May 22, 2014 (LBO) – Fitch has confirmed a ‘A+(lka)’ rating of Sri Lanka’s Melsta Regal Finance based on expected support from its parent, ‘AAA(lka)’ rated Distilleries Company of Sri Lanka. MRF has expanded quickly since it started commercial operations in October 2012 as part of DIST group and Fitch expects that it will continue […]
Lending Plan
May 22, 2014 (LBO) – Fitch Ratings which confirmed an ‘AA-(lka)’ rating of Hatton National Bank, Sri Lanka’s fourth largest commercial lender by assets said the it had boosted loans to larger firms.“HNB’s loan book is shifting towards larger, mid-sized corporates from its previous focus on retail and SME sectors, which, while adding to diversification, […]
Teenager test case in Maldives death penalty revival
MALÉ, May 22, 2014 (AFP) – A 16-year-old boy has been charged with murder over a fatal stabbing in the Maldives, becoming the first minor to be accused of a capital offence since the death penalty was reintroduced, officials said.The unnamed teenager is accused of stabbing a 21-year-old man to death in December in a […]
LBR LBO Brand Summit 2014 – “Rethinking the Rules of Brand Building” – Wednesday, 21st May 2014
Topic: Rethinking the Rules of Brand Building Date/Time: Wednesday, 21st May 2014 | 0845 – 1750 HRS Venue: Oak Room, Cinnamon Grand Host: Lakshaman Bandaranayake | Founding Publisher, Director | Lanka Business Online Inquiries: Lakshaman Bandaranayake | lakshaman@lbo.lk | 071 176 0167 or 072 776 0167 General | summit@lbo.lk Registration fee: Rs 12,900/= per participant, 5% […]
Sri Lanka Treasuries yields flat
May 21, 2014 (LBO) – Sri Lanka’s Treasuries yields were flat at Wednesday’s auction with the 12-month yield unchanged at 7.02 percent, data from the state debt office showed.The 3-month yield was unchanged at 6.57 percent. The 6-month yield eased 01 basis point to 6.75 percent. The state debt office offered 11 billion rupees of […]
Brand Summit
May 21, 2014 (LBO) – Sri Lanka’s LBR-LBO Brand Summit kicked off Wednesday with international and regional experts and practitioners from top corporates in the island participating. The speakers represent a wide range of industries: financial services, hospitality,FMCG, communication, research, consumer durables, technology and export manufacturing, and are from leading local companies and multinationals. These […]
Corrupt Watchdogs
KATHMANDU, May 21, 2014 (AFP) – South Asia’s corruption-fighting agencies lack the power and independence to properly investigate politicians and officials for graft entrenched in the region, a watchdog said Wednesday.A report released by Berlin-based Transparency International said many agencies need their government’s consent to investigate suspected graft cases, while others face massive political interference […]