Category:
”’ rating confirmed
July 22, 2014 (LBO) – Fitch Ratings said it was confirming a ‘B’ issuer financial strength rating of Sri Lanka’s Asian Alliance Insurance Plc (AAIP). It also confirmed a National Insurer Financial Strength Rating and National Long-Term Rating of ‘BBB+(lka)’ with a stable outlook. Fitch said the rating reflected benefit that could come from being […]
Cricket: South Africa aim to end Sri Lanka series jinx
COLOMBO, July 22, 2014 (AFP) – An upbeat South Africa will look to carry their winning momentum in the second Test against Sri Lanka beginning on Thursday, and break a 21-year-old jinx on the island.The Proteas, the current world number two, have not won a Test series in Sri Lanka since 1993 when they first […]
Sri Lanka stocks close up 0.5-pct
July 21, 2014 (LBO) – Sri Lanka’s stocks closed 0.51 percent higher with diversified stocks gaining despite net foreign selling, brokers said. Carson Cumberbatch closed 10.00 rupees higher at 468.00 rupees and John Keells Holdings closed 1.70 rupees higher at 246.70 rupees. JKH’s W0022 warrants closed 2.90 rupees higher at 66.90 rupees and its W0023 […]
Sri Lanka 30MW hydro plant financed by ADB; protection for endangered fish
July 21, 2014 (LBO) – Asian Development Bank is financing a 30MegaWatt hydro plant with a 150 million US dollar credit, and the project will have measures to protect an endangered fish in the river.The Moragolla hydro power plant is estimated to generate 97.7 GigaWatt hours (millions of units of electricity) of energy a year, […]
Sri Lanka bank credit subdued in May: data
July 21, 2014 (LBO) – Sri Lanka’s loans to private business from commercial banks slipped 7.9 billion rupees in May 2014 from a year earlier while credit to the state and state enterprises also contracted, official data shows.Private credit has contracted in four out of five months this year and is down 60 billion rupees […]
Cricket: Steyn stars in big South Africa win
GALLE, July 20, 2014 (AFP) – Dale Steyn grabbed a match haul of 9-99 as South Africa thrashed Sri Lanka by 153 runs on the fifth and final day of the first Test on Sunday.Sangakkara was dropped on 65 but failed to take advantage of the reprieve, pulling Duminy to short midwicket where Amla took […]
Cricket: Sangakkara keeps alive Sri Lanka victory dream
GALLE, July 19, 2014 (AFP) – Kumar Sangakkara smashed his 49th half-century as Sri Lanka launched a stunning fightback on the fourth day of the first Test against South Africa on Saturday. De Kock fell on the last ball before the break, lobbing an easy return catch to Perera. Opener Dean Elgar, who made 103 […]
Sri Lanka stocks close flat
July 18, 2014 (LBO) – Sri Lanka’s stocks closed with a lackluster note on Friday amid low foreign participation, brokers said. Foreign investors bought 113.33 million rupees worth shares while selling 50.92 million rupees worth shares. Ceylon Tobacco Company closed 9.50 rupees higher at 1,112.00 rupees and Nestle Lanka closed 9.20 rupees higher at 2,110.00 […]
Sentenced
COLOMBO, July 18, 2014 (AFP) – A Sri Lankan ruling party politician and three accomplices were Friday sentenced to 20 years in jai for murdering a British holidaymaker on Christmas Eve and raping his Russian partner. The case was initially heard in the southern town of Tangalle, the hometown of the main accused, but shifted […]
Sri Lanka shares close down 0.3-pct
July 17, 2014 (LBO) – Sri Lanka’s shares closed 0.31 percent lower on Thursday despite net foreign buying, brokers said. E-Channelling closed 1.10 rupees higher at 16.80 rupees, attracting most number of trades during the day. Foreign investors bought 189.13 million rupees worth shares while selling 26.49 million rupees worth shares. Sri Lanka Telecom closed […]
Merger Consultants
June 17, 2014 (LBO) – Sri Lanka’s National Development Bank and DFCC Bank has engaged Boston Consulting Group (India) Pvt Ltd, to advice on a planned merger. The banks said in a joint stock exchange filing that no final decision has been made on the merger. The two banks are merging under a regulatory move […]
Pawning Loans
July 17, 2014 (LBO) – Benefits from a state guarantee for gold-backed loans (pawning) will be temporary, a report by Standard & Poor’s, a rating agency said. “The credit guarantee for pawning loans will provide only brief respite to Sri Lanka’s banking industry, which is still struggling to overcome the effects of declining gold prices,” […]