Category: Industry
Merger Path
Jan 18, 2014 (LBO) – Sri Lanka’s banks and well managed larger non-bank lenders will be encouraged to swallow up to three second tier firms with tax breaks and cheaper financing, a plan released by the banking regulator said.A presentation by Sri Lanka’s Central Bank Governor Nivard Cabraal made to the financial industry has asked […]
Sri Lanka battle hard against Pakistan spinners
SHARJAH, January 16, 2014 (AFP) – Sri Lanka battled hard against Pakistan’s spinners led by Saeed Ajmal to reach 220-5 at close on the opening day of the third Test in Sharjah on Thursday.Ajmal took 2-62 to leave Sri Lanka struggling at 166-5 before Angelo Mathews (24) and Prasanna Jayawardene (28) saw off the day […]
First Call
Jan 16, 2014 (LBO) – MV OEL Emirates, the latest vessel in Dubai-based Orient Express Lines had made its maiden call at Sri Lanka’s Colombo port.OEL has services from Colombo to Chennai, Cochin , Tuticorin, Male and Chittagong. Orient Express Lines is a member of Dubai-based Transworld Group of Companies which also has interests in […]
Cricket: Sri Lanka says Bangladesh tour still on
COLOMBO, January 15, 2014 (AFP) – Sri Lanka is to go ahead with a tour to Bangladesh later this month after carrying out its own security assessment in the violence-plagued country, cricket board officials said Wednesday.“There is no such thing. No one has asked us to host the Asia Cup,” Ranatunga said.“The original decision of […]
Consolidation
Jan 14, 2013 (LBO) – Sri Lanka’s financial regulator, the Central Bank, said it will outline a master plan to consolidate banks and finance companies with one-to-one meetings to be held among lenders thereafter. The 2009 one involved property and oil derivatives going bad, and the 2011/2012 bubble involved state enterprise credit, margin and gold […]
Credit Trend
Jan 13, 2014 (LBO) – Credit to business and personal customers rose 22.3 billion rupees in November 2013 to 2,519 billion rupees, up 7.3 percent from a year earlier, while loans to the state fell, official data showed.Loan to deposit ratios can deteriorate as the Central Bank expands its balance sheet by purchasing securities from […]
‘s resistance to foil Sri Lanka
DUBAI, January 11, 2014 (AFP) – Skipper Misbah-ul Haq led Pakistan’s resistance with a gritty 97 to thwart Sri Lanka’s victory bids on the fourth day of the second Test in Dubai on Saturday. Misbah missed his sixth Test hundred by a mere three runs but a career best 70 not out by Sarfraz Ahmed […]
Dominant Sri Lanka beat Pakistan in second cricket Test
DUBAI, January 12, 2014 (AFP) – Sri Lanka produced a professional performance to register their biggest victory over Pakistan by nine wickets in the second Test in Dubai, taking a 1-0 lead in the three-match series. Lakmal then had Rahat Ali caught behind for eight, for Prasanna Jayawardene’s ninth catch in the match. Prasanna equalled […]
Sri Lanka authorities in talks over Paypal freedoms
Jan 12, 2014 (LBO)- Sri Lanka’s monetary and information technology authorities are in discussions over freeing Paypal inward payments for citizens in the country, Central Bank Governor Nivard Cabraal said.Sri Lanka had full capital mobility for several centuries until the establishment of a money printing central bank in 1951, which led to currency depreciation due […]
Funding Channel
Jan 12, 2014 (LBO) – Private equity can help fast growing small and medium enterprises looking for finance Jupiter Capital Partners which is organizing a seminar targeting the sector said.“There are a lot of small medium and enterprise with very interesting business models who cannot grow without traditional banking and finance cannot accommodate them,” Indika […]
Cricket: Ton-up Jayawardene gives Sri Lanka upper hand
DUBAI, January 9, 2014 (AFP) – Mahela Jayawardene defied a left-hand webbing injury to notch his 32nd century and Kaushal Silva missed his by five runs as Sri Lanka gained an upper hand over Pakistan in the second Test in Dubai on Thursday.Pakistan’s bowling woes were highlighted by Ajmal’s failure for a second successive innings. […]
Staff Policy
Jan 10, 2014 (LBO) – Sri Lanka’s finance companies which are being encouraged to merge with one another should not retrench staff, Central Bank Governor Nivard Cabraal said. The monetary board, the decision-making body of the Central Bank has decided on the move at a meeting Thursday. “In the event of a consolidation or merger […]