Category:
Mergers
Jan 02, 2014 (LBO) – Sri Lanka’s Central Bank is expecting two development banks and smaller state banks to be merged, Governor Nivard Cabraal said.National Savings Bank, another state bank will have to broaden their services, he said. New foreign banks setting up in Sri Lanka will also have to be locally incorporated. At the […]
Liberty
Jan 02, 2014 (LBO) – Sri Lanka has lifted a 100 percent cash margin requirement to import cars with immediate effect, as the exchange rate came under appreciating pressure, and the monetary authority held it down.The Central Bank said the restriction imposed on August 30, 2013 has been removed. The monetary authority has been buying […]
Ton-up Younis, Misbah give Pakistan control
ABU DHABI, January 1, 2014 (AFP) – Exepreienced batsmen Younis Khan and Misbah-ul Haq hit sparkling hundreds as Pakistan took command of the first Test in Abu Dhabi on Wednesday.Shehzad also miscued a hook shot and was caught at forward square-leg by Dimuth Karunaratne after hitting three boundaries. But after those two wickets, Misbah and […]
Sri Lanka narrows policy rate corridor
Jan 02, 2014 (LBO) – Sri Lanka’s central bank has narrowed a policy rate corridor cutting its policy rate window for injecting cash into the banking system by 50 basis points to 8.00 percent but left its rate to withdraw cash unchanged at 6.50 percent. The central bank said it would no longer give securities […]
Sri Lanka expects 7.2-pct growth in 2013, US$7.1bn in forex reserves
Jan 02, 2014 (LBO) – Sri Lanka’s economy is expected to grow 7.2 percent in 2013 with inflation recorded at 4.7 percent and foreign reserves at 7.1 billion US dollars, the Central Bank said.Net credit to government also declined 3.5 billion rupees in November. Sri Lanka originally expected 7.5 percent growth for 2013. “Available leading […]
Sri Lanka Treasuries yield extend fall
Jan 01, 2014 (LBO) – Sri Lanka’s Treasuries yields fell across maturities at Wednesday’s auction with the 12-month yield falling 34 basis points to 7.95 percent, data from the state debt office showed. Analysts say if there are state payments arrears to private suppliers, who in turn owe money to banks, bank rates can take […]
Sri Lanka stocks close 4.7-pct in 2013
Dec 31, 2013 (LBO) – Sri Lanka stocks end 0.23 percent higher Tuesday with banking and insurance firms gaining trading for 2013 and the market up 4.7 percent over the year, data showed. The Colombo benchmark All Share Price Index closed 13.58 points higher at 5,912.78, up 0.23 percent. The S&P SL20 closed 3.58 points […]
Sri Lankan found dead on Maldives resort
MALÉ, December 30, 2013 (AFP) – A dead body has washed up at an exclusive island resort in the Maldives where English football star David Beckham is taking a hideaway Christmas holiday with his family, police said Monday.Investigations were underway to establish the cause of death of the man, whose body was found floating near […]
Junaid, Bhatti destroy Sri Lanka in first cricket Test
ABU DHABI, December 31, 2013 (AFP) – Pacemen Junaid Khan grabbed five and Bilawal Bhatti took three wickets as Pakistan caught Sri Lanka napping at 167-8 at tea on the opening day of the first Test in Abu Dhabi on Tuesday.Pakistan strove hard for wickets in the first hour but wasted one review when they […]
Sri Lanka inflation at 4.7-pct in December 2013
Dec 31, 2013 (LBO) – Sri Lanka’s consumer prices rose 4.7 percent in the 12 months to December 2013, slowing from 5.6 percent in November, the state statistics office said.In the month of December the widely watched Colombo Consumer Price Index remained flat during the month at 176.5 points, the same as in November. Sri […]
‘s CPC breaks even in 2013: minister
Dec 31, 2013 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has reached break even status in 2013, after a 60 million US dollar legacy oil derivative cost that went against it, a minister said.Petroleum industries minister Anura Yapa said the agency is also collecting arrears from state agencies including Ceylon Electricity Board, SriLankan Airlines […]
Sri Lanka stocks end 0.3-pct higher
Dec 30, 2013 (LBO) – Sri Lanka stocks close higher Monday with tobacco and diversified stocks gaining amid strong foreign buying on the board, brokers said. The Colombo benchmark All Share Price Index closed 22.54 points higher at 5,899.20, up 0.38 percent. The S&P SL20 closed 26.82 points higher at 3,267.45, up 0.83 percent. Turnover […]