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Cricket: Sri Lanka seal thrilling England series win
LEEDS, June 24, 2014 (AFP) – Sri Lanka beat England with just one ball to spare to win the second Test at Headingley by 100 runs on Tuesday and take the two-match series 1-0.It was a desperately close call but the former Australia seamer ruled in Sri Lanka’s favour. After tea, left-arm spinner Herath, who […]
Sri Lanka macro-prudential indicator may be upgraded: Fitch official
June 25, 2014 (LBO) – A Macro Prudential Indicator for Sri Lanka which was downgraded to ‘3’, may be lifted in the future as risks recede, amid slower credit growth, a top Fitch Ratings official said.Mark Young head of Asia Pacific Financial Institutions at Fitch Ratings said with weaker credit growth there was room for […]
Sri Lanka shares close up 0.2-pct
June 24, 2014 (LBO) – Sri Lanka’s shares closed 0.18 percent higher with index heavy John Keells Holdings gaining amid strong foreign buying, brokers said. The Colombo benchmark All Share Price Index closed 11.52 points higher at 6,310.87, up 0.18 percent. The S&P SL20 closed 21.19 points higher at 3,496.12, up 0.61 percent. Turnover was […]
Foreign Funding
June 24, 2014 (LBO) – Sri Lanka’s National Bank Plc raised 75 million US dollars with backed by the International Finance Corporation adding to 125 million dollars raised in March, officials said. The proceeds will be used to finance up to 50,000 micro and small scale enterprises. The IFC itself gave 20 million US dollars […]
Bank Rating
June 24, 2014 (LBO) – Fitch Ratings said a ‘B+’ rating of Sri Lanka’s National Development Bank has been confirmed with a ‘stable’ outlook. Fitch also confirmed its foreign currency rating of ‘B+/Stable’ and withdrew a ‘B+(EXP)’ rating given to a proposed dollar bond sale which has since been abandoned. NDB is in merger discussions […]
Debt Sale
June 24, 2014 (LBO) – Sri Lanka’s DFCC Bank is to sell 5.0 billion rupees in debt with the lender’s long term domestic rating confirmed at ‘AA(lka)’ with a stable outlook. Its international rating was also confirmed at ‘B+’ with a stable outlook. Fitch said it had given a ‘AA-(lka)(EXP)’ rating to a proposed 5.0 […]
‘s power sector losses seen at $27bn by World Bank
NEW DELHI, June 24, 2014 (AFP) – Annual losses in India’s dysfunctional power sector are forecast to rise to billion in 2017 unless the government enacts sweeping reforms in the face of rising demand, a World Bank study said Tuesday.India has one of the world’s lowest per capita electricity consumption rates, with the average person […]
SriLankan raises US$175mn; Asian investors take up 60-pct: report
June 24, 2014 (LBO) – State-run SriLankan Airlines had sold 175 million US dollars of 5-year bonds to yield 5.3 percent with Asia based investors taking up 60 percent of the securities, a media report said.Bloomberg Newswires said European investors took up 25 percent and Middle Eastern investors 15 percent. About 85 percent were banks […]
Cricket: Four-star Prasad puts Sri Lanka on the brink of victory
LEEDS, June 23, 2014 (AFP) – Dhammika Prasad’s dramatic four-wicket burst following a Test-best 160 from skipper Angelo Mathews left Sri Lanka on the brink of victory in the second Test against England at Headingley on Monday. Sri Lanka resumed Monday on 214 for four, a lead of 106, with Jayawardene 55 not out and […]
”s tactics
LEEDS, June 23, 2014 (AFP) – Sri Lanka great Mahela Jayawardene questioned England’s tactics, their ability to handle pressure and the wisdom of home captain Alastair Cook’s pre-match spat with Shane Warne as the tourists moved to the brink of a memorable Test series win at Headingley. Sri Lanka seized control of the second and […]
Sri Lanka to dig up suspected Muslim mass grave
COLOMBO, June 24, 2014 (AFP) – Sri Lankan authorities are to dig up the site of a suspected mass grave next week after claims it contains the bodies of scores of Muslims killed by Tamil rebels 24 years ago, police said Tuesday.The Muslim community, which accounts for around 10 percent of the island’s population and […]
Sri Lanka sells US$239.4mn 3-year bonds
June 23, 2014 (LBO) – Sri Lanka has sold 239.5 million US dollars in 3-year bonds to at price of 375 basis points above the 6-monmth London interbank offered rate, the state debt office said. The bonds are sold to domestic banks and investors who are allowed have dollar assets. The market was offered 50 […]