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Sri Lanka banks should lend more to utilize new economic capacity: CB Governor
Feb 17, 2013 (LBO) – Sri Lanka’s bank should lend more to businesses associated with ports, airports, health and information technology to make use of expanded capacity in the economy, Central Bank Governor Nivard Cabraal said. Sri Lanka’s government has developed infrastructure in recent year with ports, airports and roads generating extra capacity and opportunities […]
Sri Lanka policy rates unchanged; credit picking up: Central Bank
Feb 17, 2014 (LBO) – Sri Lanka’s central bank kept policy rates steady in February signaling that gilt rates are bottoming out but said longer term lending rates have more room to fall. The central bank said it was keeping the rate at which excess money is drained from the banking system at 6.50 percent […]
Smaller planes in demand as Asia travel boom deepens
SINGAPORE, February 16, 2014 (AFP) – Smaller passenger planes are increasingly in demand in Asia as budget carriers cash in on the region’s growing middle classes by expanding their reach to less prominent cities, industry executives say.So-called “regional” jets — short to medium-haul aircraft that generally seat under 100 passengers — were among the best-sellers […]
Maritime Reconnaissance
SYDNEY, February 15, 2014 (AFP) – Australia plans to buy seven giant unmanned drones for Aus billion (US.7 billion), potentially to help patrol its borders, a report said on Saturday. The use of large unmanned aircraft patrolling the nation’s borders has been mulled for a decade but the previous Labor government would not sign off […]
Cricket: Sri Lanka oust Bangladesh in another T20 thriller
CHITTAGONG, February 14, 2014 (AFP) – Sachithra Senanakaye hit a boundary off the last ball as Sri Lanka secured a dramatic three-wicket win over Bangladesh in the second Twenty20 match in Chittagong on Friday to win the series 2-0.Bangladesh’s batting never recovered after losing openers Tamim Iqbal and Shamsur Rahman in the first two overs. […]
New forms of racism arise in science research
CHICAGO, February 15, 2014 (AFP) – Advances in genetic sequencing are giving rise to a new era of scientific racism, despite decades of efforts to reverse attitudes used to justify the slave trade and Nazi theology, experts said Friday.Another concern is the ancestry tests that are now commonly sold online, a trend which feeds the […]
” translation slur on public signs
COLOMBO, February 14, 2014 (AFP) – Sri Lanka’s government said Friday it is probing incorrect and insulting translations of signs into the minority Tamil language, including one that says seats “reserved for pregnant dogs” instead of women. The government said they have received 218 complaints of misleading, wrong or offensive public notices that were correctly […]
Group Result
Feb 14, 2014 (LBO) – Profits at Sri Lanka’s DFCC Bank group rose 3.8 percent from a year earlier to 791 million rupees in the December 2013 quarter helped by fair value gains and interest income, interim accounts showed. The firm reported earnings of 2.99 rupees per share for the quarter. For the nine months […]
Sri Lanka stocks close lower
Feb 13, 2014 (LBO) – Sri Lanka stocks close 0.02 percent lower for the second consecutive day with diversified stocks losing ground, brokers said. Commercial Leasing and Finance closed 10 cents higher at 4.10 rupees and Cargills Ceylon closed 1.00 rupee lower at 147.00 rupees. Bukit Darah ended 10 cents lower at 600.30 rupees and […]
Sri Lanka Taj unit in losses amid refurbishment
Feb 13, 2014 (LBO) – Sri Lanka’s Taj Lanka Hotels Plc, a unit of India’s Taj Hotels and Resorts said it lost 118 million rupees in the December 2013 quarter as the hotel went through a refurbishment.Revenues were down 34 percent to 355 million rupees, cost of sales fell 2 percent to 388 million rupees […]
Retail Trend
Feb 13, 2014 (LBO) – Profits at Sri Lanka’s Odel Plc, a fashion retailer fell 40 percent to 46.0 million rupees in the December 2013 quarter from a year earlier, amid weaker sales and narrower margins, interim accounts showed.The firm reported earnings of 17 cents per share for the quarter. In the nine months to […]
Sri Lanka stocks close 0.4-pct down
Feb 12, 2014 (LBO) – Sri Lanka stocks close down Wednesday with tobacco and finance stocks losing ground, brokers said. The Colombo benchmark All Share Price Index closed 28.67 points lower at 6,084.48, down 0.47 percent. The S&P SL20 closed 12.39 points lower at 3,336.96, down 0.37 percent. Turnover was 548.63 million rupees, down from […]