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Cardinal slams Sri Lanka army for attack inside church
COLOMBO, August 7, 2013 (AFP) – The Roman Catholic church Wednesday slammed Sri Lanka’s army for storming a church and assaulting residents trying to escape soldiers firing on villagers protesting against contaminated water.The shootings came ahead of a visit to the island by United Nations rights chief Navi Pillay later this month. Pillay is due […]
Sri Lanka halts sale of baby formula, foreign milk power advertising
Aug 07, 2013 (LBO) – Sri Lanka has halted the sale of imported baby formula following a contamination scare over New Zealand made dairy products and media organizations will be asked to stop advertising milk products, a senior health official said.Heath services director general Palitha Mahipala said a food advisory committee that met yesterday had […]
Sri Lanka sells 4-year bonds to yield below market
Aug 06, 2013 (LBO) – Sri Lanka has sold 4-year Treasury bonds at an auction Wednesday to yield 10.87 percent, the state debt office said, which is lower than the secondary market rate. The debt office said it sold 1.6 billion rupees of bonds maturing on January 15, 2017. In the secondary market a bond […]
Sri Lanka corporate debt to get boost from S&P
Aug 06, 2013 (LBO) – Standard and Poor’s Rating Services said is hosting a forum in Colombo on August 16 amid plans by Sri Lanka to boost the country’s debt markets. Sri Lanka’s Securities and Exchange Commission wants to boost outstanding capital market debt to 10 billion US dollars from the one billion dollars at […]
Brand Award
Aug 07, 2013 (LBO) – Sri Lanka’ state-run Bank of Ceylon said it had been recognized as one of 35 best brands in Asia by Mumbai-based Chief Marketing Officer Council (CMO Council). BOC has 10 million account holders equal to half the population of Sri Lanka and over a trillion rupees in assets. Other winners […]
Indonesian plane skids off runway after hitting cow
JAKARTA, August 7, 2013 (AFP) – An Indonesian passenger jet crashed into a cow and skidded off the runway as it came into land at an airport in the centre of the archipelago, officials said Wednesday.One small jet managed to take off Wednesday, but the Lion Air plane was still at the edge of the […]
‘s state airline in MRO venture with Lufthansa Technik
Aug 07, 2013 (LBO) – State-run SriLankan Airlines will start operating a joint venture aircraft repair and maintenance organization (MRO) with Lufthansa Technik by July 2014, an official said.SriLankan chief executive Kapila Chandrasena said the MRO is expected to earn revenues of 100 million US dollars a year, with an investment of 14 million US […]
Dilshan blitz helps Sri Lanka win cricket T20 final
HAMBANTOTA, August 6, 2013 (AFP) – Tillakaratne Dilshan smashed an unbeaten 74 off 51 balls as Sri Lanka defeated South Africa by six wickets in the final Twenty20 game Tuesday to retain their number one ranking in the short format.Du Plessis and Duminy put on their century stand after opener Henry Davids had been dismissed […]
‘s sovereign rating can be upped on better fiscal, monetary policy: Fitch
Aug 07, 2013 (LBO) – Sri Lanka’s credit rating can be upgraded if fiscal and monetary policy improves leading to greater stability and steady growth and more foreign direct investment and less debt comes for investment, a senior Fitch Ratings official said.Sri Lanka has a ‘BB-‘ speculative rating, three levels below investment grade with a […]
Sri Lanka Treasuries yields edge up
Aug 06, 2013 (LBO) – Sri Lanka’s 12-month Treasuries yield edged up 05 basis points to 10.57 percent at Wednesday’s auction, the state debt office said. There were no offers or sales of three and six month bills. The debt office offered 12.0 billion rupees in bills for rollover and sold 17.6 billion rupees in […]
Sri Lanka debt sales to expand 3-fold in five years
Aug 06, 2013 (LBO) – Sri Lanka domestic and foreign currency issues will expand three fold over the next five years, Fitch Ratings said in Colombo. “The excitement in the bond market is a step in the right direction for Sri Lanka to become a financial hub for South Asia,” Maninda Wickramasinghe, chief executive of […]
Sri Lanka stocks close up 0.1-pct
Aug 06, 2013 (LBO) – Sri Lanka’s stocks closed up 0.12 percent Tuesday with gains seen in the large cap stocks, brokers said. The benchmark Colombo All Share Index closed 0.12 points higher at 6,121.45 and the S&P SL 20 Index closed 05.57 points higher at 3,477.04 up 0.16 percent. Turnover was 531 million rupees […]