Category:
Capital Injection
Feb 09, 2014 (LBO) – Sri Lanka’s Nation Lanka Finance Plc, a registered finance company is getting a 700 million rupee equity investment which will boost its capital over a few weeks, officials said.Financing by GEM was arranged by Yenom (Pvt) Ltd, a company operated by Kosala Heengama and Gregory Scott Newsome, who were connected […]
Cricket: ICC passes controversial revamp despite protests
SINGAPORE, February 8, 2014 (AFP) – Cricket’s world body Saturday passed a wide-ranging and controversial shake-up of its governance and structure despite strident protests that it gives too much power to the “Big Three” of India, England and Australia.The dominant trio seemed to be the big winners after the proposals were approved by the necessary […]
Cricket: ICC board discusses controversial revamp
SINGAPORE, February 8, 2014 (AFP) – The International Cricket Council (ICC) board met to discuss controversial proposals to hand wide-ranging powers to the “Big Three” of India, England and Australia on Saturday, following strong opposition from some members.The full board went into talks at a luxury hotel in Singapore at about 11:00 am (0300 GMT) […]
Cricket: Sangakkara hits another ton as Sri Lanka eye win
CHITTAGONG, February 7, 2014 (AFP) – Kumar Sangakkara became the second batsman in history to score a triple-century and a hundred in the same match as Sri Lanka pressed for victory in the second Test against Bangladesh in Chittagong on Friday.Spinner Ajantha Mendis finished with six for 99, having claimed both the remaining wickets after […]
Sri Lanka shares close down 0.4-pct
Feb 07, 2014 (LBO) – Sri Lanka shares end 0.43 percent down Friday with tobacco and beverage stocks losing ground amid strong foreign selling, brokers said. Ceylon Tobacco Company on Friday declared 8.55 rupees of final dividend per share for the last year. Commercial Bank closed 2.90 rupees lower at 120.10 rupees and Commercial Leasing […]
‘s Janashakthi in travel insurance
Feb 07, 2014 (LBO) – Sri Lanka’s Janashakthi Insurance said it has launched a worldwide travel insurance product which was also available for subscribers of Dialog Telekom. Worldwide travel insurance covering hospitalization of up to 50,000 US dollars and 25,000 for accidental death and disability is also provided for subscribers of Dialog Telekom, for 175 […]
” power grab at ICC
LONDON, February 7, 2014 (AFP) – Plans to give India, England and Australia greater power in running the International Cricket Council have been blasted as “entirely motivated by money” by the judge asked to review its governance.Last month the ICC said it had reached “unanimous agreement” on the outline of a plan to give the […]
Tribute to Mel Gunasekera (1973-2014)
Tribute to Mel Gunasekera (1973-2014) The Founding Editor/ LBO This page is dedicated to the memories of Mel Gunasekera A journalist of distinction, who knew no bounds to her loyalty – to her family, profession and friends. Lakshaman Bandaranaike – Publisher LBO Mel Gunasekera (1973 -2014) Who knew no bounds to her loyalty Mel took […]
Sri Lanka shares end lower
Feb 06, 2014 (LBO) – Sri Lanka shares closed weaker Thursday with tobacco and index heavy stocks losing ground amid strong foreign selling, brokers said. Carson Cumberbatch ended 4.80 rupees lower at 342.20 rupees and Dialog ended 10 cents lower at 9.10 rupees. Sri Lanka Telecom ended 1.60 rupees higher at 37.70 rupees and Commercial […]
Rating
Feb 06, 2014 (LBO) – Sri Lanka’s MCSL Financial Services Ltd has been given a ‘BBB’ rating by RAM Ratings Lanka, and a subordinated debenture ‘BBB-‘. The ratings were supported by its ultimate parent, state-run Bank of Ceylon. MCSL’s gross NPL ratio worsened from 8.76 percent as at end-FY Dec 2011 to 10.41 percent by […]
Capital Plan
Feb 06, 2014 (LBO) – Nations Lanka Finance Plc said it would raise 1.4 billion rupees by selling shares to a foreign investor.The firm said in a stock exchange filing that it wanted to sell shares and warrants totaling 29.9 percent of company to Global Emerging Markets Yield Fund LLC. Sri Lanka’s finance companies are […]
Tribute
Feb 06, 2014 (LBO) Writing being my bête noire it is with some trepidation that I write this. I can picture Mel chiding me, Aiyo, what men! Poor show Tones! The start of the week saw me wake up to yet another morning of my wife’s Facebook rituals. Only this time, it was going to […]