Category: Industry
Cricket: South Africa bat against Sri Lanka in first ODI
COLOMBO, July 6, 2014 (AFP) – South Africa captain AB de Villiers won the toss and chose to bat in the first of the three-match one-day international series against Sri Lanka in Colombo on Sunday.Star all-rounder Jacques Kallis was ruled fit to play after overcoming a neck injury that he picked during one of the […]
Football: Krul saves Netherlands as Costa Rica downed
BRASILIA, July 6, 2014 (AFP) – Dutch goalkeeper Tim Krul was the hero as the Netherlands beat Costa Rica to seal a showdown with Argentina in a heavyweight World Cup semi-final lineup Saturday.Netherlands coach Louis van Gaal stunned onlookers at Salvador’s Fonte Nova Arena by bringing on Krul to replace Jasper Cillessen in the final […]
Debt Sale
July 04 2014 (LBO) – Sri Lanka’s state-run Bank of Ceylon is planning to 8.0 billion rupees of debt which has been given an expected rating ‘AA(lka) (EXP)’ Fitch Ratings said.The Colombo-listed debentures will have tenors of 5 and 8 years and will have fixed and floating coupons. It will be used for Tier II […]
Sri Lanka tourist arrivals up 14-pct in June
July 03, 2014 (LBO) – Sri Lanka’s tourist arrivals rose 14.3 percent to 103,195 in June 2014 from a year earlier, driven by China and India, data from the state tourism promotion office showed.In the first half of 2014 arrivals were up 24.6 percent to 727,353. South Asian visitors were up 13.3 percent to 30,950 […]
Bank Trend
July 03, 2014 (LBO) – Sri Lanka’s bank credit is estimated to grow 14 percent in 2014 and outlook for the sector is ‘stable’ with bad loans to also stabilize this year, Moody’s, a rating agency said.“¦[A] pipeline of infrastructure projects is expected to boost economic growth, together with an accommodative monetary policy,” Srikanth Vadlamani, […]
‘s CEB loses Rs18.6bn up to April
July 01, 2014 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has lost 18. 9 billion rupees in the first four months of 2014, amid higher thermal generation, a finance ministry report said. CEB started operating a second coal plant and a third 300 MegaWatt generator is expected to begin testing later this year. The […]
Merger Plans
July 01, 2014 (LBO) – Sri Lanka’s central bank said ‘almost all’ banks and finance companies have submitted plans to merge or acquire others in a regulatory driven push to consolidate and reduce the number of financial institutions in the country.“These plans will now be reviewed by the Central Bank with a view to facilitating […]
Acquisition
July 01, 2014 (LBO) – Sri Lanka’s TKS Finance Limited said it was acquiring Asian Finance Limited under a financial sector consolidation initiated by the regulator.The company said its shareholder planned to inject more capital to the merged entity. It would have a branches in Colombo, Ratnapura, Matara, Negombo, Nugegoda, Kandy, Kiribathgoda, Kurunegala, Galle, Ambalangoda […]
SriLankan Airlines govt guaranteed debt draw US$3bn in orders
June 30, 2014 (LBO) – A 175 million US dollar debt offer by state-run SriLankan Airlines drew orders worth 3.0 billion US dollars from 85 parties, the carrier and book runner Standard Chartered Bank said. Sri Lankan Chief Executive Kapila Chandrasena said international investors had shown interest in the airline and it showed the confidence […]
Credit Trend
June 30, 2014 (LBO) – Sri Lanka’s credit to private business from commercial banks fell 15.7 billion rupees in April 2014, while credit to government also fell, official data showed, as inflation remained low and the exchange rate was strong. Credit to state enterprises edged up to 331.1 billion rupees in April from 330.0 billion […]
New Bank
Starting Up June 30, 2014 (LBO) – Cargills Bank Plc, Sri Lanka’s newest commercial bank promoted by listed Cargills (Ceylon) Plc and CT Holdings opened for business Monday. The bank was issued a provisional license shortly before the Central Bank started a process to consolidate the banking sector. Central Bank Governor Nivard Cabraal said as […]
Football: Ten-man Costa Rica stun Greece in penalty shoot-out
RECIFE, June 30, 2014 (AFP) – Costa Rica goalkeeper Keylor Navas claimed man-of-the match honours as his side sank Greece in a penalty shootout to reach the World Cup quarter finals for the first time and a clash with the Netherlands.Reduced to 10 men in the second half, Costa Rica still seemed to be on […]