Category: Industry
Banking Fellow
Oct 28, 2010 (LBO) – K G D D Dheerasinghe, deputy governor of Sri Lanka’s central bank has been awarded an honorary fellowship of the Institute of Bankers of Sri Lanka for his contribution to developing the financial services industry. The Central Bank said he joined the monetary authority in 1975 and had worked in […]
Personal Liability
Oct 28, 2010 (LBO) – The Sri Lankan government’s top legal officer has suggested making directors of banks personally liable if their firms get into trouble and giving more power to the regulator to act against them. Attorney general Mohan Peiris said laws similar to those in the companies act were needed to cover bank […]
Mobile Momentum
Oct 27, 2010 (LBO) – Sri Lankan mobile phone operator Dialog Axiata made a net profit of 1.69 billion rupees in the September 2010 quarter compared with a loss of 439 million rupees a year ago, a stock exchange filing said. Sales rose 16.2 percent to 10.56 billion rupees over the period while administration costs […]
Asset Quality
Oct 27, 2010 (LBO) – Sri Lanka’s Sampath Bank was given an ‘AA’ long term rating with a ‘stable’ outlook and ‘P1’ short term rating, on better risk management which improved asset quality and capital adequacy, RAM Ratings Lanka said. “In 2008, Sampath recruited several experienced personnel to fortify its internal systems and market position,” […]
Bank Numbers
Oct 26, 2010 (LBO) – Sri Lanka’s Pan Asia Bank net profit for the September 2010 quarter rose 87 percent to 129 million rupees from a year ago as interest costs fell and non-interest income rose, a stock exchange filing said. Interest income fell two percent in the September 2010 quarter to 776 million rupees […]
Implied Support
Oct 26, 2010 (LBO) – Sri Lanka’s Seylan Bank was assigned a ‘BBB+(lka)’ National Long-term rating for its proposed senior unsecured redeemable debentures of up to two billion rupees, Fitch Ratings Lanka said. The rating agency also confirmed the bank’s National Long-term rating at ‘BBB+(lka)’ with a stable outlook while also confirming the bank’s 3.4 […]
Asset Quality
Oct 26, 2010 (LBO) – Sri Lanka’s Sampath Bank September 2010 net profit rose 47 percent to 789 million rupees from a year ago as it reversed provisioning for bad loans, a stock exchange filing said. The bank’s interest income fell 13.1 percent to 4.7 billion rupees while interest expenses fell at a faster 23. […]
‘s T20 with Sri Lanka
SYDNEY, October 25, 2010 (AFP) – Paceman Peter Siddle and wicketkeeper Brad Haddin have returned to Australia’s squad for next weekend’s Twenty20 match with Sri Lanka in Perth after injury, selectors said Monday. Siddle is available for Sunday’s game after a lengthy rehabilitation from a back injury, while Haddin has returned to full fitness following […]
‘s gold
October 25, 2010 (AFP) – Sri Lankan sports chiefs on Monday confiscated the gold medal won by boxer Manju Wanniarachchi at this month’s Commonwealth Games and gave him two weeks to answer doping charges. Wanniarachchi, 30, Sri Lanka’s only gold winner at the Games, tested positive for the performance-enhancing steroid nandrolone, according to a report […]
Sri Lanka coal plant test on schedule despite fire: minister
Oct 25, 2010 LBO) – A planned testing of Sri lanka’s first coal-fired power plant will go ahead as scheduled on November 17, despite a fire which broke out over the weekend, power minister Champika Ranawaka said. Potential fire damage to Norochcholai plant on the west coast is still being assessed by the government analyst, […]
Sri Lanka state backing for Shangi-La hotel project: report
Oct 25, 2010 (LBO) – Land in a military sports ground in Sri Lanka’s capital Colombo would be given to Hong Kong-based Shangri-La group to build a 75 million US dollar luxury hotel and apartment complex, a media report said. Sri Lanka’s The Sunday Times newspaper said the cabinet of ministers had approved the proposal […]
Sri Lanka Aitken Spence proposes city hotel on state land: minister
Oct 25, 2010 (LBO) – Sri Lanka’s listed Aitken Spence group has proposed to build a luxury city hotel on excess land owned by a state-run firm in the island’s capital Colombo, fisheries minister Rajitha Senaratna said. The land belongs to Ceynor Foundation, a state-run boat builder. The firm has offices in Colombo’s D R […]