Category: Industry
Guarantee Game
Nov 12, 2007 (LBO) – Loan guarantees given by the Sri Lanka government to financial institutions shot up 45 percent in 2007 as the state took over credit risks of large power projects, newly published documents have revealed. Disclosures under Sri Lanka’s fiscal responsibility law shows that total loan guarantees given to financial institutions are […]
” remark
Nov 11, 2007 (AFP) – Sri Lanka’s chief selector Asantha de Mel on Sunday declined to comment after being called a “joker” by senior batsman Marvan Atapattu during the ongoing opening Test in Australia. “I do not want to comment and I want to ignore his comments. All that I am keen as the chief […]
Sri Lanka asks Australia to end Test blackout
Nov 11, 2007 (AFP) – Sri Lanka’s cricket governing body Sunday asked their counterparts in Australia to end the lock out of international media from the ongoing Test series between the two nations. The conditions imposed on photographers and journalists applying for credentials to cover cricket raise grave concerns about press freedom, the agencies said. […]
Scotland wins 2014 Commonwealth Games at Sri Lanka parley
Nov 9, 2007 (AFP) – Glasgow on Friday convincingly clinched the 2014 Commonwealth Games, shattering Nigeria’s hopes of being the first African nation to host the event. Scotland’s biggest city won by 47 votes to 24 for its only rival, Abuja, at the Commonwealth Games Federation annual assembly in Sri Lanka, president Mike Fennell announced. […]
Cricket Australia slammed over row with agency lockout through Sri Lanka Test
BRISBANE, Australia, Nov 9, 2007 (AFP) – Australia cricket’s governing body came under fire Friday for imposing restrictions that have locked global news agencies out of the opening Australia-Sri Lanka cricket Test in Brisbane. “And with the Indian team arriving later this summer, backed by the world’s largest cricket audience, it would be a disaster […]
Commonwealth games decision in Sri Lanka today
Nov 9, 2007 – The Commonwealth Games Federation general assembly will vote Friday to decide whether Abuja of Nigeria or Scotland’s Glasgow hosts the 2014 games, officials said. Abuja and Glasgow will get a final opportunity to sway voters when they each make a 30-minute presentation and answer questions during a 10-minute period just before […]
Sri Lanka to buy 200MW of private power
Nov 09, 2007 (LBO) – Sri Lanka will shortly call for the supply of 200MegaWatts of private power to bridge an energy deficit until a coal plant comes on stream, officials said. Energy Minister John Seneviratne told LBO that the cabinet of ministers had given the nod to call for proposals from existing independent power […]
Savings Giant
Nov 09, 2007 (LBO) – Fitch Sri Lanka has affirmed the National Savings Bank’s (NSB) ‘AAA(lka)’ rating with a stable outlook, but said high taxes and narrower margins were eroding profitability. “The rating reflects the full state ownership of the bank, low credit risk on its assets due to its significant exposure to government securities […]
Sri Lanka Australia Tests open with global media locked out
BRISBANE, Australia, Nov 8, 2007 (AFP) – Australia’s Test cricket season opened Thursday with international fans unable to follow the action after organisers locked global news agencies out of the ground in Brisbane.The restriction was lifted 90 minutes before the tournament kicked off. The row also left Australia’s largest media organisation, News Limited, unable to […]
Be Careful
Nov 08, 2007 (LBO) – Sri Lanka’s shaky budgets and complementary monetary policy are the biggest dangers to the banking system, an international rating agency has warned. Fitch Ratings says the ongoing internal war and even the December 2004 tsunami had little direct impact on the stability of Sri Lanka’s banking system. “However, the state’s […]
Heavy fighting in Sri Lanka leaves scores killed and wounded
Nov 7, 2007 (AFP) – Heavy fighting between Sri Lankan troops and Tamil Tiger rebels Wednesday left a large number killed or wounded, both sides said. The government and rebels had agreed to a Norwegian-brokered truce in 2002, but the peace process began to unravel in December 2005. The Liberation Tigers of Tamil Eelam (LTTE) […]
Central Rating
Nov 06, 2007 (LBO) – Fitch Ratings Lanka has confirmed Central Finance Company’s (CF) long-term rating of ‘A+ (lka)’ with a ‘stable’ outlook. CF has a 20 percent interest in Nations Trust Bank (‘A (lka)’), a licensed commercial bank. “CF’s rating factors in its strong financial profile and its dominant market position as the second-largest […]