Category:
Sri Lanka shares close lower
June 23, 2014 (LBO) – Sri Lanka’s shares closed 0.05 percent lower for the forth straight day amid strong foreign selling, brokers said. Sri Lanka Telecom closed 1.30 rupees higher at 47.90 rupees and Dialog Axiata closed flat at 10.40 rupees. Cargills Ceylon closed 6.20 rupees higher at 152.50 rupees and Ceylon Tobacco Company closed […]
Board Appointment
June 23, 2014 (LBO) – Upali Dharmadasa, managing director of Sri Lanka’s Nawaloka group has been appointed a director of Seylan Bank Plc.Dharmadasa has 32 years in corporate management, and is also chairman of Sri Lanka Insurance Corporation, the bank said in a statement. He is Managing Director of Nawaloka Piling, Nawaloka Timber Stores, Nawaloka […]
Starting Up
June 23, 2014 (LBO) – Sri Lanka’s information technology chamber and accounting institute is holding a forum to boost financing accounting outsourcing companies in the island. Sri Lanka Association of Software and Services Companies (SLASSCOM) said it is partnering with the Institute of Chartered Accountants of Sri Lanka (CA) to host the forum on June […]
SriLankan Airlines on track to raise US$175mn at 5.3-pct: report
June 23, 2014 (LBO) – State-run Sri Lankan Airlines is on track to raise US$175 mn from 5-year bonds at around 5.3 percent, a media report said. The sale is managed by Standard Chartered. Bloomberg newswires citing un-named sources said the bond was launched at 5.625 percent earlier Monday and price guidance was later narrowed […]
‘s branded apparel makers eye bigger domestic market
June 23, 2014 (LBO) Sri Lanka’s apparel makers are targeting a bigger share of an estimated two billion US dollar domestic market, officials said. The association said that the plans are on pipeline to open up a whole sale mall for international and domestic buyers to buy any fabric requirements and branding cloths. “This will […]
Cricket: Jayawardene stands firm after Ali double
LEEDS, June 22, 2014 (AFP) – Mahela Jayawardene steered Sri Lanka to a lead of more than a hundred runs in the second Test at Headingley after Moeen Ali proved an unlikely bowling hero for England.Sri Lanka were 214 for four in their second innings at stumps on Sunday’s third day, a lead of 106 […]
Sri Lanka banks managing risks, credit upturn expected: Fitch official
June 23, 2014 (LBO) – Sri Lanka’s banking system is managing the risks of bad loans especially from gold-backed loans but high credit growth targets by some banks are a concern, a top Fitch Ratings official said.Bad loans in Sri Lanka’s banking system spiked after low interest rates up to 2011 set off a credit […]
‘s foreign reserves at US$8.9bn in April 2014
June 22, 2014 (LBO) – Sri Lanka’s foreign reserves rose to 8.9 billion US dollars in June 2014 from 8.05 billion in March, boosted by foreign borrowings and weak credit that reduced outflows, official data showed.The Central Bank said foreign reserves were now equal to 5.9 months of imports. The central bank has been buying […]
Nationalist Riots
COLOMBO, June 22, 2014 (AFP) – Sri Lankan police announced Sunday they were tightening security in the capital after local media, in a rare show of unity, condemned them for failing to control Buddhist extremists behind deadly anti-Muslim riots. The UNP has accused the country’s powerful defence secretary and president’s younger brother, Gotabhaya Rajapakse, of […]
Cricket: Sri Lanka fight back after Robson century
LEEDS, June 21, 2014 (AFP) – Australia-born opener Sam Robson scored his maiden Test century before Sri Lanka checked England’s progress on the second day of the second Test at Headingley on Saturday.England were 320 for six in reply to Sri Lanka’s 257, a lead of 63 runs, at stumps after Robson had made 127 […]
Fire Probe
COLOMBO, June 21, 2014 (AFP) – Sri Lankan police were investigating a fire which Saturday destroyed a Muslim-owned clothing store in a district where religious tensions have been heightened after anti-Muslim riots killed four people and wounded 80.Authorities have not ruled out arson at the upmarket No-Limit store in Panadura, 25 kilometres (16 miles) south […]
” Broad takes his second Test hat-trick
LEEDS, June 20, 2014 (AFP) – Stuart Broad admitted he had no idea he had become the first England bowler to take two Test hat-tricks and just the fourth in all after he struck with three succesive balls against Sri Lanka at Headingley on Friday.The seamer, who had previously performed the feat against India at […]