Category:
HSBC and Sampath for US$100mn loan for Sri Lanka Telecom
Feb 28, 2014 (LBO) – HSBC said it had lead-arranged a 100 million US dollar 5-year loan for Sri Lanka Telecom (SLT) with the participation of Colombo-based Sampath Bank.Sampath Bank managing director Aravida Perera was quoted as saying in addition to taking part in syndicated finance for SLT, the bank has also provided services such […]
Sri Lanka stocks surge 1.2-pct, rupee stronger
Feb 28, 2014 (LBO) – Sri Lanka’s stocks surged 1.2 percent Friday with index heavy John Keells Holdings extending gains, while the rupee strengthened against the greenback, brokers and dealers said. The Colombo benchmark All Share Price Index closed 67.50 points higher at 5,940.31, up 1.15 percent. The S&P SL20 closed 34.86 points higher at […]
Loan Growth
Feb 28, 2014 (LBO) – Profits at Sri Lanka’s Sampath Bank Plc fell 31 percent to 1.0 billion rupees, in the December 2013 quarter from a year earlier, amid higher loan losses, interim accounts showed. Gross assets rose 24 percent to 391 billion rupees and net assets rose 14 percent to 31.6 billion rupees. The […]
Tough Quarter
Feb 28, 2014 (LBO)- Profits at Sri Lanka’s Hatton National Bank fell 38 percent to 1.8 billion rupees in the December 2013 quarter amid shrinking net interest income, interim accounts showed. The group reported earnings of 4.73 rupees per share. In the year to December the group reported earnings of 19.20 rupees per share on […]
Margin Gains
Feb 28, 2014 (LBO) – Profits at Sri Lanka’s Seylan Bank Plc rose 71 percent to 797 million rupees in the December 2013 quarter from a year earlier, on wider margins, despite higher loan losses, interim accounts showed. Group gross assets rose 17.3 percent to 217 billion rupees in the 12 months to December with […]
Memorial
Feb 28, 2014 (LBO) A Thanksgiving Mass will be held Friday in memory of Mel Gunasekera, senior business journalist, at the All Saints Church, Borella.The service is due to start at 6.30 pm and the family has invited friends and well wishers to join them in celebrating the life of Mel whose death sparked grief […]
‘s Ceylinco Insurance net up 28-pct
Feb 28, 2014 (LBO)- Profits at Sri Lanka’s Ceylinco Insurance Plc, rose 28 percent to 1.8 billion rupees in the December 2013 quarter from a year earlier, helped by investment income and lower claims, despite weak premiums, interim accounts showed. Net assets had grown to 18.3 billion rupees from 14.4 billion rupees. The group reported […]
Iraq lifts ban on Sri Lanka cocopeat: commerce ministry
Feb 28, 2014 (LBO) – Iraq has lifted a ban on coconut fibre pith exports from Sri Lanka and is has also agreed to relaxing restrictions on Ceylon Tea, the ministry of industry and commerce said.Sri Lanka’s minister of industry and commerce Rishad Bathiudeen had led a delegation to Baghdad for two days of talks […]
Sri Lanka restrict India to 264-9 in Asia Cup
FATULLAH, February 28, 2014 (AFP) – Spinners Ajantha Mendis and Sachithra Senanayake shared seven wickets as Sri Lanka kept India down to 264-9 in the Asia Cup one-day tournament in Fatullah on Friday.Mendis struck twice in his seventh over, the 40th of the innings, as he bowled Dhawan and had new batsman Dinesh Karthik caught […]
‘s rights record poor in 2013
WASHINGTON, February 27, 2014 (AFP) – From China’s crackdown on activists to flawed elections in Cambodia and widespread violence against Muslims in Myanmar, Asia’s human rights record in 2013 remained poor, US officials said Thursday. Releasing its annual Human Rights report, the State Department documented a litany of abuses across the continent, with especially strong […]
Sri Lanka inflation at 4.2-pct in February
Feb 28, 2013 (LBO) – Sri Lanka’s consumer prices rose 4.2 percent in the 12-months February 2014, down from 4.4 percent in January, the state statistics office said.The widely watched Colombo Consumer Price Index rose 0.2 percent during the month. Annual average inflation, a lagging indicator averaged across two years eased to 6.0 percent in […]
Leading Edge
Feb 27, 2014 (LBO) – WSO2, a Sri Lanka based open source software firm whose products drive applications of companies ranging from ebay.com and Cisco Systems to British Airways is targeting more business in Asia. In Sri Lanka WS02, customers include Dialog Axiata and John Keells Holdings.The firm is also expecting potential local users in […]