Category: Industry
Debt Sale
June 24, 2014 (LBO) – Sri Lanka’s DFCC Bank is to sell 5.0 billion rupees in debt with the lender’s long term domestic rating confirmed at ‘AA(lka)’ with a stable outlook. Its international rating was also confirmed at ‘B+’ with a stable outlook. Fitch said it had given a ‘AA-(lka)(EXP)’ rating to a proposed 5.0 […]
Bank Rating
June 24, 2014 (LBO) – Fitch Ratings said a ‘B+’ rating of Sri Lanka’s National Development Bank has been confirmed with a ‘stable’ outlook. Fitch also confirmed its foreign currency rating of ‘B+/Stable’ and withdrew a ‘B+(EXP)’ rating given to a proposed dollar bond sale which has since been abandoned. NDB is in merger discussions […]
Foreign Funding
June 24, 2014 (LBO) – Sri Lanka’s National Bank Plc raised 75 million US dollars with backed by the International Finance Corporation adding to 125 million dollars raised in March, officials said. The proceeds will be used to finance up to 50,000 micro and small scale enterprises. The IFC itself gave 20 million US dollars […]
”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 […]
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 […]
‘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 […]
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 […]
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 […]
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 […]
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 […]
‘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 […]
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 […]