Category:
Air Credit
Apr 01, 2014 (LBO) – Standard Chartered Bank said it had structured a 150 million US dollar equivalent Islamic finance facility for state-run Sri Lankan Airlines which was partly secured by a government guarantee and receivables.In 2012 SriLankan raised a 175 million US dollar equivalent facility from Gulf banks. “The proceeds of the facility will […]
Merger Progress
Apr 01, 2013 (LBO) – Sri Lanka’s central bank said it had approved in principle mergers among a few banks and non-bank lenders, in a regulator driven bid to build a financial sector made up of fewer, larger firms.Several non-bank lenders have seen bad loans rise over the past few years amid tighter economic conditions […]
‘s Dilshan fined for showing dissent
DHAKA, April 1, 2014 (AFP) – Sri Lankan opener Tillakaratne Dilshan has been fined 20 per cent of his match fee for breaching the players’ code of conduct during the game against New Zealand in Chittagong, the International Cricket Council said on Monday.Dilshan was found to have shown dissent at an umpire’s decision during his […]
Sri Lanka romp into semis after Herath heroics
CHITTAGONG, March 31, 2014 (AFP) – Left-arm spin wizard Rangana Herath conjured up astonishing figures of 3-5 to help Sri Lanka demolish New Zealand by 59 runs Monday in the race for the World Twenty20 semi-finals.Thisara Perera hit three boundaries in his 13-ball 16 before Neesham took three wickets in 14 balls to rout the […]
‘s lower inflation, narrowing budget deficit to boost growth: ADB
Apr 01, 2014 (LBO) – Sri Lanka’s current relatively low inflation and a narrowing budget deficit will boost investment and growth helped by recovering exports and domestic demand, the Asian Development Bank said.Last year Sri Lanka gross domestic product was estimated to have grown by 7.3 percent in the middle of recovering from a balance […]
‘s NDB raises US$125mn with IFC backing
Mar 31, 2013 (LBO) – International Finance Corporation, a World Bank unit has helped syndicated a 125 million US dollar loan for Sri Lanka’s NDB Bank with a further 70 million US dollars to be provided by June 2014. HSBC was the ‘strategic advisor’ the syndication, the two firms said. About 75 percent of the […]
Sri Lanka stocks close flat
Mar 31, 2014 (LBO) – Sri Lanka’s stocks close flat Monday with thin foreign activity on the bourse, brokers said. The Colombo benchmark All Share Price Index closed 3.86 points lower at 5,968.31 down 0.06 percent. The S&P SL20 closed 1.25 points higher at 3,279.92, up 0.04 percent. Turnover was 464.39 million rupees, down from […]
Sri Lanka tea production drops 10-pct in February
Mar 31, 2014 (LBO) – Sri Lanka’s tea production has dropped 10 percent to 22.4 million kilograms in February 2014 from a year earlier, and the March crop is also expected to be fall amid a drought, a tea brokerage has said. In 2014 tea prices have been firmer. The national sales average rose to […]
‘s IPCC issues dire warnings amid 15-year pause in global warming
Mar 31, 2014 (LBO) – A UN panel on climate change has warned of dire consequences ranging from hunger to war from climate change amid a 15 year plus ‘pause’ in global warming that scientists are struggling to explain. “Increasing magnitudes of warming increase the likelihood of severe, pervasive, and irreversible impacts,” AFP a news […]
Sri Lanka power utility making large losses: report
Mar 31, 2014 (LBO) – Sri Lanka’s state-run Ceylon Electricity Board has lost over 24 billion rupees in the past quarter with low rainfall hitting hydro power, a media report said, raising concerns over credit expansion and exchange rate stability.The Sunday Times newspaper quoting a letter written by CEB General Manager Shavi Fernando said CEB […]
Sri Lanka inflation unchanged at 4.2-pct in March
Mar 31, 2014 (LBO) – Sri Lanka’s consumer prices rose 4.2 percent in the 12-months to March from a year earlier, with inflation unchanged from the 4.2 percent a month earlier, data from the state statistics office showed. Sri Lanka’s inflation has been muted amid weak credit growth following the end of a balance of […]
Sri Lanka ruling party wins provincial election with lower margin
COLOMBO, March 30, 2014 (AFP) – Sri Lanka’s ruling party won local elections, but with smaller than expected margins in a crucial mid-term test for President Mahinda Rajapakse, official results showed Sunday.The president campaigned for polls held Saturday for southern and western provincial councils, both in the ethnic majority Sinhalese heartland, which account for more […]