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Muslims ask for UN probe into Sri Lanka religious riots; President tours area
BERUWALA, June 18, 2014 (AFP) – The main Muslim party in Sri Lanka’s ruling coalition Wednesday demanded a UN probe into one of the country’s worst-ever religious riots, as President Mahinda Rajapakse toured the violence-hit resort region. The Sri Lanka Muslim Congress (SLMC) said it was also boycotting parliament Wednesday as a protest against Colombo’s […]
Sri Lanka should continue investments, improve skills, rule of law: ADB chief
June 18, 2014 (LBO) – Sri Lanka should look at private partnerships to expand infrastructure, reform state enterprises and strengthen the investment climate by improving rule of law and governance, Asian Development Bank chief Takehiko Nakao said. Sri Lanka’s government is investing about 6 percent of gross domestic product in physical infrastructure which was higher […]
Sri Lanka Treasuries yields steady
June 18, 2014 (LBO) – Sri Lanka’s Treasuries yields were steady at Wednesday auction with the 12-month yield unchanged at 7.00 percent, the state debt office said.The 3-month yield eased 01 basis point to 6.53 percent and the 6-month yield eased 01 basis point to 6.71 percent. The debt office offered 10 billion rupees in […]
Sri Lanka stocks close down 0.4-pct
June 18, 2014 (LBO) – Sri Lanka’s stocks closed 0.42 percent lower with index heavy John Keells Holdings losing ground ahead of the U.S. Federal Reserve’s policy statement, brokers said. Dialog Axiata closed 10 cents lower at 10.20 rupees and Sri Lanka Telecom also closed 10 cents lower at 47.90 rupees. Sampath Bank closed 3.00 […]
Fund Rating
June 18, 2014 (LBO) – Fitch Ratings said an ‘A-(lka)’ national fund credit rating given to Ceylon Income Fund in Sri Lanka has been confirmed. The negative modifier in the fund’s ‘A-(lka)’ National Fund Credit Rating reflects Fitch’s view that the fund is moderately concentrated with a top-five issuer concentration of around 56% of the […]
Smishing Alert
June 18, 2014 (LBO) – HSBC Sri Lanka has warned that there is a text message scam seeking campaign and has asked customers or non-customers not to call back and reveal their identity, passwords or account details.“HSBC would like to remind that the Bank has not sent these text messages to customers and non-customers and […]
Sri Lanka may encourage smaller insurers to merge: CB Governor
June 18, 2014 (LBO) – Sri Lanka’s smaller insurers should merge to become larger players and which will give an assurance to customers that they will survive in the longer term, Central Bank Governor Nivard Cabraal said. “I would like to see bigger and more stable insurers,” Cabraal told a forum on pensions organized by […]
‘s insurance regulator meets AIG over exit
June 18, 2014 (LBO) – The Insurance Board of Sri Lanka is in discussions with AIG Insurance over its planned exit from the island, Chairperson Indrani Sugathadasa said.The firm is expected to submit a report to the regulator over its policies shortly. “But before the report we are having a discussion with them because we […]
Cricket: Muralitharan joins Australian coaching team
SYDNEY, June 18, 2014 (AFP) – Sri Lankan spin great Muthiah Muralitharan announced Wednesday he will join the Australian coaching team for their series against Pakistan in the United Arab Emirates.The world’s leading Test wicket taker is already working with Australia’s top spinner Nathan Lyon as part of Australia’s National Cricket Centre Spin Programme, and […]
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SANTO ANDRÉ, June 18, 2014 (AFP) – Goal-scoring machine Gerd Mueller was unkindly nicknamed ‘short, fat Mueller’ during his career, now Germany’s latest hot-shot star has been dubbed ‘El Flaco’ — the Skinny One — by Argentina legend Maradona.Thomas Mueller claimed the first hat-trick of these World Cup finals in Monday’s 4-0 drubbing of Portugal […]
Sri Lanka police arrest 49 over religious riots
ALUTGAMA, June 18, 2014 (AFP) – Sri Lanka’s police arrested 49 people overnight over deadly anti-Muslim riots in a tourist region where Buddhist hardliners have set shops and homes ablaze, a senior officer said Wednesday. Both Buddhists and Muslims were arrested during a police crackdown in the southern resort towns, where two nights of violence […]
Sri Lanka policy rates unchanged, banks urged to narrow spreads
June 18, 2014 (LBO) – Sri Lanka’s central bank held policy interest rates at 6.5 and 8.0 percent but urged banks to narrow spreads by cutting lending rates, as credit growth continued to be slow.Deputy Governor Nandalal Weerasinghe said Tuesday such market developments would help bring down interest rates to levels in line with deposit […]