Category:
” networks
COLOMBO, April 2, 2014 (AFP) – Sri Lanka has designated 15 foreign organisations run by ethnic Tamils as “terrorist groups”, accusing them of trying to revive a separatist war which ended in 2009, an official said Wednesday. Among the designated groups are the British Tamil Forum, World Tamil Movement, Canadian Tamil Congress, Australian Tamil Congress […]
Sri Lanka seeks divine help to avoid power cuts
COLOMBO, April 1, 2014 (AFP) – Sri Lanka’s energy minister offered flowers and lit thousands of oil lamps as she prayed for rains to replenish drought-hit reservoirs which are used for hydro-power plants, an official said Tuesday. Minister Pavithra Waniarachchi illuminated the sacred temple town of Anuradhapura with 4,000 coconut oil lamps seeking divine help […]
‘s Guangdong province visit Sri Lanka
Apr 02, 2014 (LBO) – A high powered delegation from China’s Guangdong provincial government had visited Sri Lanka and had expressed interest in fish processing, the state investment promotion office said. A Chinese firm is to reclaim the sea near Colombo port to build a new business district and many firms from the country are […]
Sri Lanka technical education, female participation to be boosted: ADB
Apr 02, 2014 (LBO) – The Asian Development Bank said it is giving a 100 million dollars loan to Sri Lanka to boost technical education and female participation in technology related courses.“This program will help reduce the significant mismatch that exists between the competencies of graduates and labor market demand, which has left youth unemployment […]
”: Fitch
Apr 01, 2014 (LBO) – Sri Lanka’s Hemas Holdings will sell up to 1.0 billion rupees in senior debt which has been given a expected ‘A+(lka)’ investment grade rating, Fitch Ratings said. Low leverage and Moderate Liquidity: Fitch expects that the group is likely to maintain financial leverage (measured as gross adjusted debt / Operating […]
Sri Lanka stocks close up 0.5-pct
Apr 01, 2014 (LBO) – Sri Lanka’s stocks close up crossing the 6,000 mark Tuesday with diversified and tobacco stocks gaining amid net foreign buying on the board, brokers said. The Colombo benchmark All Share Price Index closed 33.52 points higher at 6,001.83 up 0.56 percent. The S&P SL20 closed 19.98 points higher at 3,299.90, […]
Bank Chief
Apr 01, 2014 (LBO) – Krishan Balendra, has been appointed chairman of Sri Lanka’s Nations Trust Bank.NTB said in a stock exchange filing that Arjuna Gunaratne, who had been on the board of the bank from 2005 is stepping down to comply with a regulatory direction limiting a director’s tenure to nine years.Balendra will take-over […]
Asset Quality
Apr 01, 2014 (LBO) – Sri Lanka’s two largest state banks have taken a 20 billion rupee hit on credit losses in 2013 and had slashed their troubled gold-backed loan portfolios as the precious metal’s price slumped, interim accounts show.State-run People’s Bank set aside 11.7 billion rupees as general provisions in 2013 up from 3.2 […]
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 […]