Category:
Regulatory Action
Dec 29, 2008 (LBO) – Sri Lanka’s Seylan Bank’s board of directors has been dissolved by the monetary board of the Central Bank and its operations brought under state-run Bank of Ceylon, the regulator said. The Central Bank said it was “discontinuing the services” of the board of Seylan Bank but retaining the current chief […]
Stability Measure
Dec 29, 2008 (LBO) – Sri Lanka’s Seylan Bank’s board of directors has been dissolved by the monetary board of the Central Bank and its operations brought under state-run Bank of Ceylon, a senior bank official said. The Bank of Ceylon is expected to appoint a board and oversee the operations of Seylan, the official […]
Local Banks
Dec 29, 2008 (LBO) – Sri Lanka ‘AA+(lka)’ rated Commercial Bank’s rating is unlikely to be changed following potential hedging losses after courts halted oil derivative payments, but capital build-up at ‘A-(lka)’ People’s Bank could be delayed, Fitch Ratings has said. Private-listed Commercial Bank (CB) has a ‘stable’ outlook on its rating and state-run People’s […]
Foreign Ratings
Dec 29, 2008 (LBO) – The ‘AAA(lka)’ ratings of Sri Lanka branches of Citibank and Standard Chartered are not affected following a court order that halted payments on oil derivatives with a state-run oil firm, Fitch Ratings said.The findings are expected to be presented at court hearings in February 2009. “As per regulatory requirements, both […]
No Control
Dec 29, 2008 (LBO) – Sri Lanka’s Ceylinco Insurance says its board has not been given control of Golden Key Credit Card Company, a troubled Ceylinco group firm that could not repay its customers earlier this month. Ceylinco Insurance said in a stock exchange filing that “the control of Golden Key Credit Card Company and […]
Bank Statement
Dec 29, 2008 (LBO) – Sri Lanka Seylan Bank has a issued a statement on a planned sale of its shares by the Ceylinco group. Seylan Bank is a licensed commercial bank which is regulated and supervised by the Central Bank of Sri Lanka. The full statement is reproduced below: Press release from Seylan Bank […]
Bugged
BANGALORE, December 29, 2008 (AFP) – Three directors of Indian software firm Satyam have resigned, the company announced Monday as it sought to restore investor confidence in the wake of an aborted 1.6 billion dollar acquisition. Satyam Computer Services Ltd is a leading software consultancy, system integration and outsourcing firm with clients across 65 countries.Krishna […]
Sri Lanka spinner Mendis joins squad in Bangladesh
DHAKA, December 29, 2008 (AFP) – Spin sensation Ajantha Mendis joined the touring Sri Lanka squad here Monday after recovering from an ankle injury that kept him out of the first Test against Bangladesh.“My ankle is alright now and I am not feeling any pain,” he told reporters on arrival. Mendis picked up the injury […]
Sri Lanka suicide bomber kills eight: officials
December 28, 2008 (AFP) – A Tamil Tiger suicide bomber killed seven security personnel and a civilian at a base just outside Sri Lanka’s capital on Sunday as troops mounted pressure on the rebels in the north, officials said.The male bomber infiltrated the base of the Civil Defence Force near a market in Wattala, a […]
Sri Lanka blast kills two: police
Dec 28, 2008 (LBO) – At least two people were killed and many more wounded in a powerful bomb attack at a market just outside the Sri Lankan capital on Sunday, AFP reported quoting police.Navy patrols intercepted an LTTE logistic boat off Point Pedro at midnight and opened fire, it said.The bomb went off in […]
Sri Lanka boosted by Jayawardene, Sangakkara
DHAKA, December 28, 2008 (AFP) – Mahela Jayawardene and Kumar Sangakkara hit impressive half-centuries to consolidate Sri Lanka’s position in the opening Test against Bangladesh here on Sunday.Skipper Jayawardene scored an unbeaten 83 and left-handed Sangakkara a solid 67 as Sri Lanka reached 190-3 in their second innings at tea on the third day for […]
Barrelling Down
LONDON, December 28, 2008 (AFP) – Oil prices, which hit record highs above 147 dollars a barrel this year before plunging under 33 dollars, risk slumping more in 2009 as recession curbs the world’s appetite for energy, analysts say. “We expect oil prices in early 2009 to remain under pressure given the weakening demand outlook […]