Category:
‘s CEB loses Rs18.6bn up to April
July 01, 2014 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has lost 18. 9 billion rupees in the first four months of 2014, amid higher thermal generation, a finance ministry report said. CEB started operating a second coal plant and a third 300 MegaWatt generator is expected to begin testing later this year. The […]
Sri Lanka delays digging up suspected Muslim mass grave
COLOMBO, July 1, 2014 (AFP) – A magistrate has postponed Tuesday’s scheduled start of an operation to exhume a suspected mass war grave on Sri Lanka’s east coast after police said they needed more preparation time, an official said.Authorities had been due to begin excavating part of a beach in Kalavanchikudy district after a resident […]
Sri Lanka shares close up 0.2-pct
June 30, 2014 (LBO) – Sri Lanka’s shares closed 0.24 percent higher on Monday boosting turnover to a six-week high amid strong foreign participation, brokers said. The Colombo benchmark All Share Price Index closed 15.13 points higher at 6,378.62, up 0.24 percent. The S&P SL20 closed 13.58 points higher at 3,534.43, up 0.39 percent. Turnover […]
New Bank
Starting Up June 30, 2014 (LBO) – Cargills Bank Plc, Sri Lanka’s newest commercial bank promoted by listed Cargills (Ceylon) Plc and CT Holdings opened for business Monday. The bank was issued a provisional license shortly before the Central Bank started a process to consolidate the banking sector. Central Bank Governor Nivard Cabraal said as […]
Credit Trend
June 30, 2014 (LBO) – Sri Lanka’s credit to private business from commercial banks fell 15.7 billion rupees in April 2014, while credit to government also fell, official data showed, as inflation remained low and the exchange rate was strong. Credit to state enterprises edged up to 331.1 billion rupees in April from 330.0 billion […]
France first in New Delhi as West courts Modi
NEW DELHI, June 30, 2014 (AFP) – France Monday became the first Western power to hold talks in India with the government of Prime Minister Narendra Modi as Foreign Minister Laurent Fabius arrived to push defence deals and trade.The reform-minded Modi has been widely courted by Western governments since his election in May, with his […]
SriLankan Airlines govt guaranteed debt draw US$3bn in orders
June 30, 2014 (LBO) – A 175 million US dollar debt offer by state-run SriLankan Airlines drew orders worth 3.0 billion US dollars from 85 parties, the carrier and book runner Standard Chartered Bank said. Sri Lankan Chief Executive Kapila Chandrasena said international investors had shown interest in the airline and it showed the confidence […]
Football: Ten-man Costa Rica stun Greece in penalty shoot-out
RECIFE, June 30, 2014 (AFP) – Costa Rica goalkeeper Keylor Navas claimed man-of-the match honours as his side sank Greece in a penalty shootout to reach the World Cup quarter finals for the first time and a clash with the Netherlands.Reduced to 10 men in the second half, Costa Rica still seemed to be on […]
Sri Lanka inflation at 2.8-pct in June: Statistics office
June 30, 2014 (LBO) – Sri Lanka consumer prices rose 2.8 percent in the 12-months to June 2014 from a year earlier, slowing from 3.2 percent in May, the state statistics office said. Prices during the month rose sharply by 1.1 percent, the highest monthly gain in the Colombo Consumer Price Index seen since June […]
Sri Lanka inflation to be 2.8-pct in June 2014: Treasury Secretary
June 29, 2014 (LBO) – Sri Lanka’s inflation would be 2.8 percent in June and the country now had strong economic growth and a stable exchange rate, Treasury Secretary P B Jayasundera said.Sri Lanka is recovering from a balance of payments crisis triggered in 2011 after the state manipulated energy prices with bank loans which […]
Freight Charge
June 28, 2014 (LBO) – A Sri Lanka government regulation against a controversial fee charged from shippers who had not contracted for freight in Asian and African countries was being studied by other affected countries, an official said.Sri Lanka Shippers’ Council, representing the country’s exporters and importers had long protested a so-called terminal handling fee […]
Nationalist Looters
COLOMBO, June 28, 2014 (AFP) – Sri Lanka’s police arrested key suspects involved in fuelling religious riots and looting, an official said Saturday as minority Muslims expressed fears of more unrest ahead of Ramadan.Muslims as well as a majority of moderate Buddhists have pressed for action against the Buddhist Force, or BBS, which is seen […]